Ambev (NYSE:ABEV) Sets New 52-Week High – Still a Buy?

Ambev S.A. (NYSE:ABEV) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $2.94 and last traded at $2.9450, with a volume of 5484054 shares. The stock had previously closed at $2.94.

Wall Street Analysts Forecast Growth

ABEV has been the topic of several research reports. Sanford C. Bernstein reissued a “market perform” rating and issued a $2.88 price target on shares of Ambev in a research note on Wednesday, November 26th. Weiss Ratings reissued a “hold (c)” rating on shares of Ambev in a research note on Monday, December 29th. Six equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Ambev has an average rating of “Reduce” and an average target price of $2.53.

Ambev Trading Up 2.4%

The stock has a market cap of $47.43 billion, a PE ratio of 16.72, a price-to-earnings-growth ratio of 3.11 and a beta of 0.65. 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 company’s 50-day moving average price is $2.60 and its 200 day moving average price is $2.40.

Ambev Dividend Announcement

The business also recently disclosed a special dividend, which was paid on Friday, January 9th. Investors of record on Monday, December 22nd were issued a $0.049 dividend. This represents a yield of 1,465.0%. The ex-dividend date was Monday, December 22nd. Ambev’s payout ratio is 183.33%.

Institutional Investors Weigh In On Ambev

Institutional investors have recently made changes to their positions in the stock. Perigon Wealth Management LLC lifted its holdings in shares of Ambev by 34.3% in the 4th quarter. Perigon Wealth Management LLC now owns 15,411 shares of the company’s stock worth $38,000 after acquiring an additional 3,936 shares during the last quarter. Blair William & Co. IL raised its position in Ambev by 3.4% in the third quarter. Blair William & Co. IL now owns 140,579 shares of the company’s stock valued at $313,000 after purchasing an additional 4,557 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in Ambev by 2.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 240,887 shares of the company’s stock worth $595,000 after purchasing an additional 4,700 shares in the last quarter. West Family Investments Inc. lifted its stake in Ambev by 10.4% during the third quarter. West Family Investments Inc. now owns 51,819 shares of the company’s stock worth $116,000 after purchasing an additional 4,891 shares in the last quarter. Finally, Jones Financial Companies Lllp boosted its position in shares of Ambev by 4.8% during the third quarter. Jones Financial Companies Lllp now owns 111,999 shares of the company’s stock worth $258,000 after buying an additional 5,091 shares during the period. 8.13% of the stock is currently owned by institutional investors and hedge funds.

About Ambev

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.