Zacks Investment Research upgraded shares of Anheuser Busch Inbev (NYSE:BUD) from a sell rating to a hold rating in a research report sent to investors on Friday morning.
According to Zacks, “AB InBev’s robust brand portfolio and solid geographical reach remain its major strength. Further, we expect the company to benefit from its constant expansion in the craft beer space, given the rising demand for this beer category. Also, it keeps introducing near beer alternatives along with no- and low-alcohol beers, which is encouraging. However, AB InBev underperformed the industry in last three months largely due to dismal earnings history. Evidently, the company’s last reported quarter marked its seventh straight earnings miss, while revenues missed estimate for the second consecutive quarter. Higher cost of sales, soft volumes and consumers’ changing preferences have been impacting the company’s performance. Further, management continues to anticipate increased cost of sales, owing to the lingering currency woes and growth of premium brands. Also, volatility in some of the key regions remains a threat.”
Several other research analysts have also recently issued reports on BUD. JPMorgan Chase & Co. decreased their target price on shares of Anheuser Busch Inbev from $106.68 to $98.72 and set an underweight rating for the company in a report on Thursday. Susquehanna Bancshares set a $129.00 target price on shares of Anheuser Busch Inbev and gave the stock a hold rating in a report on Wednesday, October 25th. Societe Generale cut shares of Anheuser Busch Inbev from a hold rating to a sell rating in a report on Monday, November 6th. Deutsche Bank raised shares of Anheuser Busch Inbev from a hold rating to a buy rating in a report on Wednesday, January 17th. Finally, Jefferies Group set a $134.00 price objective on shares of Anheuser Busch Inbev and gave the company a buy rating in a report on Thursday, January 11th. Four equities research analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $123.05.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Banco de Sabadell S.A purchased a new position in shares of Anheuser Busch Inbev during the fourth quarter valued at approximately $682,000. Archford Capital Strategies LLC grew its position in Anheuser Busch Inbev by 6.6% during the fourth quarter. Archford Capital Strategies LLC now owns 17,394 shares of the consumer goods maker’s stock valued at $1,941,000 after buying an additional 1,079 shares during the period. Fieldpoint Private Securities LLC grew its position in Anheuser Busch Inbev by 28.6% during the fourth quarter. Fieldpoint Private Securities LLC now owns 3,061 shares of the consumer goods maker’s stock valued at $341,000 after buying an additional 681 shares during the period. Lake Street Advisors Group LLC bought a new stake in Anheuser Busch Inbev during the fourth quarter valued at approximately $260,000. Finally, Macquarie Group Ltd. bought a new stake in Anheuser Busch Inbev during the fourth quarter valued at approximately $14,637,000. 5.68% of the stock is owned by hedge funds and other institutional investors.
Anheuser Busch Inbev Company Profile
Anheuser Busch Inbev NV (AB InBev) is a Belgium-based company engaged in the brewers industry. The Company owns a portfolio of over 200 beer brands. The Company’s brand portfolio includes global brands, such as Budweiser, Corona and Stella Artois; international brands, including Beck’s, Leffe and Hoegaarden, and local champions, such as Bud Light, Skol, Brahma, Antarctica, Quilmes, Victoria, Modelo Especial, Michelob Ultra, Harbin, Sedrin, Klinskoye, Sibirskaya Korona, Chernigivske, Cass and Jupiler.
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