Ambev (NYSE:ABEV) Receives “Neutral” Rating from Citigroup

Citigroup reissued their neutral rating on shares of Ambev (NYSE:ABEV) in a research report report published on Wednesday,Benzinga reports.

A number of other brokerages also recently commented on ABEV. StockNews.com assumed coverage on shares of Ambev in a report on Sunday. They issued a “buy” rating for the company. Barclays dropped their target price on Ambev from $2.50 to $2.00 and set an “equal weight” rating for the company in a report on Tuesday. Finally, Bank of America lowered Ambev from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $2.45.

Ambev Price Performance

ABEV stock opened at $1.81 on Wednesday. Ambev has a 52 week low of $1.76 and a 52 week high of $2.72. The firm has a market capitalization of $28.44 billion, a P/E ratio of 10.03, a price-to-earnings-growth ratio of 5.38 and a beta of 1.05. The company has a fifty day simple moving average of $2.03 and a two-hundred day simple moving average of $2.19. The company has a quick ratio of 0.89, a current ratio of 1.20 and a debt-to-equity ratio of 0.02.

Ambev Cuts Dividend

The firm also recently declared an annual dividend, which was paid on Thursday, January 9th. Stockholders of record on Monday, December 23rd were issued a $0.0414 dividend. The ex-dividend date was Monday, December 23rd. This represents a dividend yield of 1.93%. Ambev’s payout ratio is 38.89%.

Hedge Funds Weigh In On Ambev

A number of large investors have recently bought and sold shares of the business. Blue Trust Inc. lifted its position in shares of Ambev by 29.3% during the fourth quarter. Blue Trust Inc. now owns 169,664 shares of the company’s stock worth $314,000 after purchasing an additional 38,417 shares during the last quarter. AlphaMark Advisors LLC lifted its holdings in Ambev by 78.6% during the 4th quarter. AlphaMark Advisors LLC now owns 46,755 shares of the company’s stock valued at $86,000 after buying an additional 20,575 shares in the last quarter. Insight Inv LLC purchased a new stake in Ambev in the 4th quarter valued at about $25,000. Exchange Traded Concepts LLC bought a new position in Ambev in the 4th quarter worth about $30,000. Finally, Baker Ellis Asset Management LLC purchased a new position in shares of Ambev during the fourth quarter worth approximately $78,000. Hedge funds and other institutional investors own 8.13% of the company’s stock.

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.