Ambev (NYSE:ABEV) Shares Up 2.4% - Here's Why

Shares of Ambev S.A. (NYSE:ABEV - Get Free Report) traded up 2.4% during mid-day trading on Monday . The stock traded as high as $2.33 and last traded at $2.34. 2,472,320 shares were traded during trading, a decline of 91% from the average session volume of 26,181,355 shares. The stock had previously closed at $2.28.

Wall Street Analyst Weigh In

Several research firms have recently commented on ABEV. StockNews.com began coverage on Ambev in a research note on Monday, January 27th. They set a "buy" rating for the company. Citigroup reissued a "neutral" rating on shares of Ambev in a report on Wednesday, January 22nd. Barclays cut their target price on shares of 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 downgraded 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 issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $2.45.

Ambev Stock Performance

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's 50-day moving average price is $2.06 and its 200-day moving average price is $2.12. The company has a market capitalization of $37.18 billion, a P/E ratio of 13.11, a P/E/G ratio of 5.80 and a beta of 0.94.

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Ambev (NYSE:ABEV - Get Free Report) last issued its 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 business had revenue of $4.63 billion during the quarter, compared to the consensus estimate of $22.42 billion. Ambev had a return on equity of 16.12% and a net margin of 17.02%. As a group, equities analysts expect that Ambev S.A. will post 0.18 EPS for the current year.

Ambev Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 14th. Investors of record on Tuesday, March 18th will be given a $0.0221 dividend. The ex-dividend date is Tuesday, March 18th. This represents a $0.09 annualized dividend and a yield of 3.74%. Ambev's dividend payout ratio is presently 52.94%.

Institutional Investors Weigh In On Ambev

Hedge funds have recently made changes to their positions in the business. GQG Partners LLC raised its stake in shares of Ambev by 51.9% during the fourth quarter. GQG Partners LLC now owns 196,676,003 shares of the company's stock valued at $363,851,000 after purchasing an additional 67,180,274 shares in the last quarter. Bank of America Corp DE increased its position in shares of Ambev by 201.7% during the 4th quarter. Bank of America Corp DE now owns 26,087,675 shares of the company's stock valued at $48,262,000 after purchasing an additional 17,440,564 shares during the period. Talaria Asset Management Pty Ltd acquired a new position in shares of Ambev during the 4th quarter valued at $38,602,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Ambev by 1,641.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 19,001,985 shares of the company's stock valued at $35,154,000 after buying an additional 17,911,122 shares during the period. Finally, Brandywine Global Investment Management LLC grew its holdings in Ambev by 5.0% during the fourth quarter. Brandywine Global Investment Management LLC now owns 18,614,210 shares of the company's stock worth $34,436,000 after acquiring an additional 880,763 shares during the period. Institutional investors 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.