Ambev (NYSE:ABEV) Sets New 52-Week Low - What's Next?

Ambev S.A. (NYSE:ABEV - Get Free Report) reached a new 52-week low during mid-day trading on Monday . The company traded as low as $1.86 and last traded at $1.87, with a volume of 7061347 shares changing hands. The stock had previously closed at $1.87.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on shares of Ambev in a report on Tuesday, December 24th. They issued a "buy" rating on the stock.

Ambev Stock Down 1.1 %

The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.89 and a current ratio of 1.20. The firm has a market cap of $29.14 billion, a price-to-earnings ratio of 10.28, a PEG ratio of 6.67 and a beta of 1.05. The business's 50 day moving average price is $2.16 and its 200 day moving average price is $2.22.

Ambev Cuts Dividend

The company also recently declared an annual dividend, which will be paid on Thursday, January 9th. Investors of record on Monday, December 23rd will be given a dividend of $0.0414 per share. The ex-dividend date is Monday, December 23rd. This represents a yield of 1.93%. Ambev's dividend payout ratio is presently 38.89%.

Hedge Funds Weigh In On Ambev

Several institutional investors and hedge funds have recently modified their holdings of ABEV. MCIA Inc acquired a new stake in Ambev in the third quarter valued at approximately $25,000. HTLF Bank acquired a new stake in Ambev in the 3rd quarter valued at $26,000. Wealthstream Advisors Inc. purchased a new stake in Ambev in the 3rd quarter worth $29,000. Riversedge Advisors LLC acquired a new position in Ambev during the third quarter worth $31,000. Finally, Foster Group Inc. acquired a new stake in shares of Ambev in the third quarter valued at about $33,000. 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.