StockNews.com Initiates Coverage on Ambev (NYSE:ABEV)

StockNews.com started coverage on shares of Ambev (NYSE:ABEV - Free Report) in a research note released on Monday morning. The firm issued a buy rating on the stock.

A number of other analysts have also recently commented on ABEV. Citigroup reiterated a "neutral" rating on shares of Ambev in a research report on Wednesday, January 22nd. Barclays reduced their price target 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. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $2.45.

Ambev Price Performance

ABEV stock traded up $0.05 on Monday, reaching $1.84. The company had a trading volume of 134,949,292 shares, compared to its average volume of 53,187,637. The company's fifty day moving average is $2.01 and its 200 day moving average is $2.18. The company has a market cap of $28.91 billion, a P/E ratio of 10.19, a PEG ratio of 5.44 and a beta of 1.05. 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 has a 1 year low of $1.76 and a 1 year high of $2.72.

Ambev Cuts Dividend

The company also recently disclosed an annual dividend, which was paid on Thursday, January 9th. Stockholders of record on Monday, December 23rd were issued a dividend of $0.0414 per share. The ex-dividend date of this dividend was Monday, December 23rd. This represents a dividend yield of 1.93%. Ambev's payout ratio is 38.89%.

Hedge Funds Weigh In On Ambev

A number of large investors have recently modified their holdings of ABEV. Bank of Montreal Can raised its stake in shares of Ambev by 12.3% in the 2nd quarter. Bank of Montreal Can now owns 782,446 shares of the company's stock valued at $1,643,000 after acquiring an additional 85,747 shares during the period. Millennium Management LLC boosted its position in shares of Ambev by 15.5% in the second quarter. Millennium Management LLC now owns 8,445,718 shares of the company's stock worth $17,314,000 after buying an additional 1,132,936 shares during the period. Creative Planning grew its stake in shares of Ambev by 10.5% in the second quarter. Creative Planning now owns 259,335 shares of the company's stock valued at $532,000 after buying an additional 24,678 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of Ambev by 7.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 122,485 shares of the company's stock valued at $251,000 after buying an additional 8,106 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. raised its holdings in shares of Ambev by 53.3% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 56,062 shares of the company's stock valued at $115,000 after buying an additional 19,496 shares during the period. 8.13% of the stock is currently owned by hedge funds and other institutional investors.

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.