Ambev (NYSE:ABEV) Trading 4.1% Higher – Here’s What Happened

Ambev S.A. (NYSE:ABEV) rose 4.1% during trading on Tuesday . The stock traded as high as $2.40 and last traded at $2.3950. Approximately 21,890,387 shares traded hands during trading, a decline of 38% from the average daily volume of 35,203,320 shares. The stock had previously closed at $2.30.

Analysts Set New Price Targets

A number of analysts recently commented on ABEV shares. Sanford C. Bernstein restated a “market perform” rating and set a $2.88 price target on shares of Ambev in a research note on Wednesday, November 26th. Weiss Ratings reiterated a “hold (c)” rating on shares of Ambev in a research report on Monday. Finally, Zacks Research upgraded Ambev from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 30th. Nine investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $2.53.

Ambev Trading Down 0.2%

The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.86 and a current ratio of 1.15. The stock has a market cap of $37.27 billion, a P/E ratio of 13.14, a P/E/G ratio of 2.57 and a beta of 0.70. The stock has a 50-day moving average price of $2.43 and a 200-day moving average price of $2.34.

Ambev (NYSE:ABEV) last announced its earnings results on Thursday, October 30th. The company reported $0.04 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.04. Ambev had a net margin of 17.90% and a return on equity of 15.81%. The business had revenue of $3.90 billion for the quarter, compared to the consensus estimate of $3.97 billion. On average, equities research analysts expect that Ambev S.A. will post 0.18 EPS for the current year.

Ambev Dividend Announcement

The company also recently declared a special dividend, which will be paid on Friday, January 9th. Shareholders of record on Monday, December 22nd will be given a dividend of $0.049 per share. The ex-dividend date is Monday, December 22nd. This represents a yield of 1,465.0%. Ambev’s dividend payout ratio (DPR) is presently 188.89%.

Hedge Funds Weigh In On Ambev

Large investors have recently modified their holdings of the company. State of Wyoming boosted its stake in Ambev by 11.3% in the first quarter. State of Wyoming now owns 39,606 shares of the company’s stock worth $92,000 after buying an additional 4,030 shares in the last quarter. Blair William & Co. IL grew its holdings in shares of Ambev by 3.4% in the third quarter. Blair William & Co. IL now owns 140,579 shares of the company’s stock worth $313,000 after purchasing an additional 4,557 shares during the last quarter. West Family Investments Inc. increased its stake in shares of Ambev by 10.4% in the third quarter. West Family Investments Inc. now owns 51,819 shares of the company’s stock worth $116,000 after buying an additional 4,891 shares during the period. Signaturefd LLC raised its holdings in Ambev by 63.2% during the 2nd quarter. Signaturefd LLC now owns 12,712 shares of the company’s stock valued at $31,000 after buying an additional 4,924 shares during the last quarter. Finally, Jones Financial Companies Lllp boosted its position in Ambev by 4.8% during the 3rd quarter. Jones Financial Companies Lllp now owns 111,999 shares of the company’s stock valued at $258,000 after buying an additional 5,091 shares during the period. 8.13% of the stock is owned by hedge funds and other institutional investors.

Ambev Company Profile

Ambev (NYSE: ABEV) is a Brazilian-based beverage company that produces, distributes and markets a broad portfolio of alcoholic and non-alcoholic drinks. The company’s core business centers on brewing and selling beer, alongside a range of soft drinks, bottled water, energy drinks and other malt-based beverages. Headquartered in São Paulo, Ambev operates an integrated value chain that covers manufacturing, packaging, logistics and commercial sales to retail, on-premise and institutional customers.

The company traces its origins to the 1999 merger of two historic Brazilian breweries, and later became part of the broader global brewing group through subsequent industry consolidations.