Ambev (NYSE:ABEV) Reaches New 1-Year High – Here’s What Happened

Ambev S.A. (NYSE:ABEV) shares reached a new 52-week high during trading on Tuesday . The stock traded as high as $2.90 and last traded at $2.9050, with a volume of 66356 shares changing hands. The stock had previously closed at $2.83.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ambev in a research report on Monday, December 29th. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $2.88 price target on shares of Ambev in a research note on Wednesday, November 26th. Seven equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $2.53.

Ambev Price Performance

The stock has a market capitalization of $45.93 billion, a price-to-earnings ratio of 16.14, a P/E/G ratio of 3.06 and a beta of 0.65. The business’s 50 day simple moving average is $2.57 and its 200-day simple moving average is $2.39. The company has a quick ratio of 0.86, a current ratio of 1.15 and a debt-to-equity ratio of 0.02.

Ambev Announces Dividend

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Monument Capital Management acquired a new position in Ambev in the fourth quarter valued at approximately $25,000. First Trust Advisors LP bought a new stake in shares of Ambev during the 3rd quarter valued at $25,000. Integrated Wealth Concepts LLC purchased a new position in Ambev during the first quarter worth about $26,000. Modern Wealth Management LLC purchased a new position in shares of Ambev during the third quarter worth about $25,000. Finally, Bensler LLC bought a new stake in Ambev during the third quarter valued at approximately $27,000. 8.13% of the stock is owned by institutional investors and hedge funds.

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.