Ambev (NYSE:ABEV) Stock Price Up 2.4% - Here's What Happened

Ambev S.A. (NYSE:ABEV - Get Free Report) shares rose 2.4% during mid-day trading on Monday . The company traded as high as $2.33 and last traded at $2.34. Approximately 2,472,320 shares changed hands during mid-day 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 Analysts Forecast Growth

Several analysts have issued reports on the stock. StockNews.com initiated coverage on shares of Ambev in a research note on Monday, January 27th. They issued a "buy" rating for the company. Citigroup reiterated a "neutral" rating on shares of Ambev in a research note on Wednesday, January 22nd. Barclays dropped their target price on Ambev from $2.50 to $2.00 and set an "equal weight" rating on the stock in a research note on Tuesday, January 21st. Finally, Bank of America lowered Ambev from a "buy" rating to a "neutral" rating in a research note on Friday, January 17th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $2.45.

Ambev Trading Down 4.8 %

The company's 50-day moving average price is $2.07 and its 200 day moving average price is $2.13. The stock has a market cap of $36.31 billion, a PE ratio of 12.81, a price-to-earnings-growth ratio of 5.80 and a beta of 0.68. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.89 and a current ratio of 1.20.

Ambev (NYSE:ABEV - Get Free Report) last issued its quarterly earnings results on Wednesday, February 26th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.06 by ($0.01). The firm had revenue of $4.63 billion during the quarter, compared to analysts' expectations of $22.42 billion. Ambev had a return on equity of 16.12% and a net margin of 17.02%. On average, sell-side analysts forecast that Ambev S.A. will post 0.18 EPS for the current fiscal year.

Ambev Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Tuesday, March 18th will be given a dividend of $0.0221 per share. This represents a $0.09 annualized dividend and a yield of 3.83%. The ex-dividend date of this dividend is Tuesday, March 18th. Ambev's payout ratio is 52.94%.

Institutional Trading of Ambev

Several large investors have recently bought and sold shares of the company. MCIA Inc purchased a new stake in Ambev in the 3rd quarter worth approximately $25,000. Insight Inv LLC purchased a new stake in Ambev during the 4th quarter worth $25,000. Generation Capital Management LLC acquired a new position in Ambev during the 4th quarter worth approximately $28,000. Naviter Wealth LLC purchased a new position in shares of Ambev in the fourth quarter valued at $29,000. Finally, Exchange Traded Concepts LLC acquired a new stake in shares of Ambev during the fourth quarter valued at about $30,000. Institutional investors and hedge funds 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.