QRG Capital Management Inc. has significantly increased its investment in Anheuser-Busch InBev SA/NV, purchasing an additional 6,695 shares during the second quarter of 2023. This acquisition raised QRG’s total holdings in the consumer goods company by 7.7%, bringing its total shares to 93,714, valued at approximately $6,440,000 at the end of the quarter.
The firm’s recent disclosure to the Securities and Exchange Commission highlights a growing interest in Anheuser-Busch InBev, which has been echoed by other institutional investors. For instance, NBC Securities Inc. acquired a new stake valued at around $32,000 in the first quarter, while Garde Capital Inc. and Rossby Financial LLC also made significant investments during the same period, valued at approximately $37,000 and $49,000, respectively.
Moreover, Larson Financial Group LLC increased its stake by 65.1%, now holding 964 shares worth about $59,000 after acquiring an additional 380 shares. Collectively, institutional investors now own 5.53% of Anheuser-Busch InBev’s stock.
Analysts Provide Mixed Ratings
Several analysts on Wall Street have recently provided insights into the performance of Anheuser-Busch InBev shares. The Goldman Sachs Group reaffirmed a “buy” rating for the stock in a report dated September 25, 2023. Weiss Ratings maintained a “hold (C-)” rating shortly after, while Berenberg Bank and Morningstar also reiterated their “buy” ratings.
Currently, two analysts classify the stock with a Strong Buy rating, nine have issued Buy ratings, and two analysts have a Hold rating. As per MarketBeat, the consensus rating for Anheuser-Busch InBev is “Buy,” with an average price target set at $71.00.
Current Stock Performance and Financial Outlook
On Monday, shares of Anheuser-Busch InBev opened at $59.55. The stock has experienced volatility over the past year, with a low of $45.94 and a high of $72.13. The company currently holds a market capitalization of $116.27 billion, a price-to-earnings (P/E) ratio of 16.73, and a P/E growth (P/E/G) ratio of 1.72.
Anheuser-Busch InBev’s latest quarterly earnings report, announced on July 31, 2023, showed an earnings per share (EPS) of $0.98, exceeding the consensus estimate of $0.94 by $0.04. Despite this positive news, the company’s revenue fell by 2.1% compared to the same quarter last year. Analysts predict that the company will report an EPS of $3.37 for the current fiscal year.
Anheuser-Busch InBev operates a vast portfolio of approximately 500 beer brands, including popular names such as Budweiser, Corona, and Stella Artois, as well as many others. As the company navigates the competitive beverage market, its recent financial maneuvers and analyst ratings will be critical in shaping its future performance.
