Ambev (NYSE:ABEV) Shares Up 2.4% – What’s Next?

Ambev S.A. (NYSE:ABEV)’s stock price was up 2.4% during mid-day trading on Monday . The stock traded as high as $2.33 and last traded at $2.34. Approximately 2,472,320 shares traded hands during trading, a decline of 91% from the average daily volume of 26,181,355 shares. The stock had previously closed at $2.28.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on ABEV shares. Citigroup reiterated a “neutral” rating on shares of Ambev in a research report on Wednesday, January 22nd. StockNews.com began coverage on Ambev in a report on Monday, January 27th. They set a “buy” rating on the stock. Bank of America downgraded Ambev from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Finally, Barclays decreased their price objective on Ambev from $2.50 to $2.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 21st. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $2.45.

Ambev Stock Up 2.4 %

The firm’s 50 day simple moving average is $2.03 and its 200-day simple moving average is $2.12. The company has a current ratio of 1.20, a quick ratio of 0.89 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $36.79 billion, a price-to-earnings ratio of 12.97, a price-to-earnings-growth ratio of 5.80 and a beta of 0.94.

Ambev (NYSE:ABEV) last released its earnings results on Wednesday, February 26th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.01). Ambev had a return on equity of 16.12% and a net margin of 17.02%. The company had revenue of $4.63 billion for the quarter, compared to the consensus estimate of $22.42 billion. Equities analysts expect that Ambev S.A. will post 0.18 earnings per share for the current fiscal year.

Ambev Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Tuesday, March 18th will be given a $0.0221 dividend. This represents a $0.09 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date is Tuesday, March 18th. Ambev’s dividend payout ratio (DPR) is presently 52.94%.

Institutional Investors Weigh In On Ambev

Hedge funds have recently bought and sold shares of the company. State Street Corp boosted its stake in shares of Ambev by 9.2% during the 3rd quarter. State Street Corp now owns 10,425,374 shares of the company’s stock worth $25,438,000 after acquiring an additional 878,900 shares during the period. Jane Street Group LLC boosted its position in Ambev by 132.9% during the third quarter. Jane Street Group LLC now owns 1,976,147 shares of the company’s stock worth $4,822,000 after purchasing an additional 1,127,719 shares during the period. HighTower Advisors LLC increased its holdings in shares of Ambev by 18.3% in the third quarter. HighTower Advisors LLC now owns 54,013 shares of the company’s stock valued at $129,000 after purchasing an additional 8,350 shares during the last quarter. Stifel Financial Corp raised its position in shares of Ambev by 298.1% in the third quarter. Stifel Financial Corp now owns 802,016 shares of the company’s stock valued at $1,957,000 after purchasing an additional 600,545 shares during the period. Finally, Private Management Group Inc. lifted its stake in shares of Ambev by 8.1% during the 4th quarter. Private Management Group Inc. now owns 14,512,234 shares of the company’s stock worth $26,848,000 after buying an additional 1,083,882 shares during the last quarter. 8.13% of the stock is currently owned by institutional investors and hedge funds.

Ambev Company Profile

Ambev SA, through its subsidiaries, engages in the production, distribution, and sale of beer, draft beer, carbonated soft drinks, malt and food, other alcoholic beverages, and non-alcoholic and non-carbonated products in Brazil, Central America and Caribbean, Latin America South, and Canada. It offers beer primarily under the Skol, Brahma, Antarctica, Brahva, Budweiser, Bud Light, Beck, Leffe, Hoegaarden, Balboa ICE, Balboa, Atlas Golden Light, Atlas, Bucanero, Cristal, Mayabe, Presidente, Presidente Light, Brahma Light, Bohemia, The One, Corona, Modelo Especial, Stella Artois, Quilmes Clásica, Paceña, Taquiña, Huari, Becker, Cusqueña, Michelob Ultra, Busch, Pilsen, Ouro Fino, Bud 66, Banks, Deputy, Patricia, Labatt Blue, Alexander Keith’s, and Kokanee brands.