# Ambev S.A. (ABEV)

> Source: Nexqual · https://nexqual.com/ABEV · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Ambev S.A. (ABEV), nexqual.com/ABEV" · informational, not investment advice.

**Price:** USD 3.33 (+1.83% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 3.27 · day 3.28–3.34 · 52w 2.18–3.45 · market cap $51.3B · NYQ

## Key facts
- 3 of 80 tracked superinvestors hold ABEV (13F, Q2 2026): 0 new, 1 added, 2 reduced, 0 unchanged.
- Insider open-market sales, last ~7 months: 4 Form 4 filings, $2.5M; 4 not under a Rule 10b5-1 plan ($2.5M); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Hold (mean 2.91 on a 1–5 scale) (11 analysts), mean target USD 3.35 (range 2.64–4).
- Total return with dividends: 1Y +51.8% vs S&P 500 +14.9%; 5Y +60.6% vs S&P 500 +80.3%.
- Next earnings: 2026-10-29, EPS estimate USD 0.05, revenue estimate $21.7B.

## Superinvestors (SEC 13F-HR, Q2 2026)
3 of 80 tracked investors hold ABEV. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| First Eagle Investment | First Eagle Investment Management | 1.83% | $1.10B | Added +0.7% |
| Richard Pzena | Pzena Investment Management | 0.03% | $11.7M | Reduced -20.7% |
| Dodge & Cox Funds | Dodge & Cox | <0.01% | $793K | Reduced -17.5% |

## Insider sales (SEC Form 4, open-market, last ~7 months)
0 of 4 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-09-03 | Crippa Prado Carla Smith De Vasconcellos | See Remarks | 60,757 | $188K | 42.9% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-07-30 | Moreira Ricardo Manuel Frangatos Pires | Director | 468,040 | $1.4M | 13.5% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-05-05 | Zagman Paulo Andre | See Remarks | 136,250 | $465K | 37.1% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-03-27 | Cavalcanti De Lacerda Eduardo Braga | See Remarks | 152,386 | $434K | 40.6% | No | Too little history (no open-market trades in 2023–2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Hold (mean 2.91 on a 1–5 scale), 11 analysts; mean target USD 3.35 (low 2.64, high 4).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-07 | B of A Securities | Downgrade | Neutral → Underperform | $3.3 |
| 2026-07-15 | Scotiabank | Downgrade | Sector Outperform → Sector Perform |  |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +51.8% | +60.6% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +52.0% | +9.9% |
| Volatility (annualized) | 32.0% | 29.4% |
| Max drawdown | -18.7% (May 2026→Aug 2026) | -38.5% (Jun 2023→Dec 2024) |

## Peers (Beverages - Brewers)
FMX (Fomento Economico Mexicano S.A.) USD 129.03 +0.82% · STZ (Constellation Brands, Inc.) USD 138.98 +5.27% · BUD (Anheuser-Busch Inbev SA Sponsor) USD 85.49 +3.89% · TAP-A (Molson Coors Beverage Company) USD 42.54 -8.93% · SAM (Boston Beer Company, Inc. (The)) USD 195.72 +7.65%

## More
Full page: https://nexqual.com/ABEV · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.05 | $0.05 | -0.3% | $21.67B | 4 |
| Next quarter (ends 2026-12-31) | $0.06 | $0.06 | -4.3% | $25.73B | 4 |
| Current fiscal year (ends 2026-12-31) | $0.20 | $0.20 | +1.7% | $90.50B | 7 |
| Next fiscal year (ends 2027-12-31) | $0.21 | $0.22 | -0.6% | $94.89B | 7 |