Bank of America Downgrades Ambev (NYSE:ABEV) to Neutral

Bank of America cut shares of Ambev (NYSE:ABEV - Free Report) from a buy rating to a neutral rating in a research note published on Friday, MarketBeat reports.

Separately, StockNews.com initiated coverage on shares of Ambev in a research note on Saturday, January 11th. They set a "buy" rating for the company. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, Ambev presently has an average rating of "Hold" and a consensus price target of $2.70.

Ambev Trading Down 1.4 %

Ambev stock traded down $0.03 during mid-day trading on Friday, hitting $1.79. 37,331,138 shares of the stock were exchanged, compared to its average volume of 49,742,898. The stock has a market capitalization of $28.12 billion, a price-to-earnings ratio of 9.92, a PEG ratio of 5.23 and a beta of 1.05. Ambev has a 12 month low of $1.76 and a 12 month high of $2.72. The company has a quick ratio of 0.89, a current ratio of 1.20 and a debt-to-equity ratio of 0.02. The firm's fifty day simple moving average is $2.06 and its two-hundred day simple moving average is $2.19.

Ambev Cuts Dividend

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

Institutional Trading of Ambev

Several large investors have recently modified their holdings of ABEV. MCIA Inc bought a new position in Ambev during the third quarter worth $25,000. HTLF Bank bought a new position in shares of Ambev during the 3rd quarter worth about $26,000. Wealthstream Advisors Inc. bought a new position in shares of Ambev during the 3rd quarter worth about $29,000. Riversedge Advisors LLC acquired a new stake in shares of Ambev in the 3rd quarter valued at about $31,000. Finally, Foster Group Inc. bought a new stake in Ambev in the 3rd quarter valued at about $33,000. Institutional investors and hedge funds own 8.13% of the company's stock.

About Ambev

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.