Ambev's (ABEV) Neutral Rating Reiterated at Citigroup

Ambev (NYSE:ABEV - Get Free Report)'s stock had its "neutral" rating reissued by equities research analysts at Citigroup in a research note issued to investors on Wednesday,Benzinga reports.

Several other analysts also recently commented on the company. StockNews.com initiated coverage on Ambev in a research note on Sunday. They set a "buy" rating on the stock. Barclays dropped their price objective on Ambev from $2.50 to $2.00 and set an "equal weight" rating on the stock in a research report on Tuesday. Finally, Bank of America lowered Ambev from a "buy" rating to a "neutral" rating in a research report on Friday, January 17th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $2.45.

Ambev Stock Down 0.8 %

NYSE:ABEV traded down $0.02 during trading hours on Wednesday, reaching $1.81. 24,831,794 shares of the company traded hands, compared to its average volume of 45,770,883. 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 business's 50-day moving average price is $2.03 and its two-hundred day moving average price is $2.19. Ambev has a 1 year low of $1.76 and a 1 year high of $2.72. The stock has a market capitalization of $28.44 billion, a P/E ratio of 10.03, a P/E/G ratio of 5.38 and a beta of 1.05.

Institutional Trading of Ambev

Several large investors have recently added to or reduced their stakes in ABEV. Massachusetts Financial Services Co. MA lifted its holdings in Ambev by 0.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 42,904,893 shares of the company's stock valued at $104,688,000 after purchasing an additional 226,238 shares in the last quarter. Seafarer Capital Partners LLC lifted its stake in shares of Ambev by 6.3% during the 3rd quarter. Seafarer Capital Partners LLC now owns 30,069,000 shares of the company's stock valued at $73,368,000 after buying an additional 1,770,000 shares in the last quarter. Brandes Investment Partners LP boosted its holdings in Ambev by 23.9% in the 2nd quarter. Brandes Investment Partners LP now owns 15,456,266 shares of the company's stock worth $32,024,000 after buying an additional 2,982,621 shares during the period. Private Management Group Inc. increased its stake in Ambev by 43.8% in the 3rd quarter. Private Management Group Inc. now owns 13,428,352 shares of the company's stock worth $32,765,000 after buying an additional 4,087,442 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in Ambev by 33.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 13,236,234 shares of the company's stock valued at $32,296,000 after acquiring an additional 3,322,952 shares during the period. 8.13% of the stock is currently owned by institutional investors.

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.

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