Ambev (NYSE:ABEV) Sets New 52-Week High – What’s Next?
by Teresa Graham · The Cerbat GemAmbev S.A. (NYSE:ABEV – Get Free Report) hit a new 52-week high during trading on Tuesday . The company traded as high as $2.90 and last traded at $2.9050, with a volume of 66356 shares traded. The stock had previously closed at $2.83.
Analyst Ratings Changes
A number of equities research analysts have issued reports on ABEV shares. Sanford C. Bernstein reiterated a “market perform” rating and set a $2.88 price objective on shares of Ambev in a research note on Wednesday, November 26th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ambev in a report on Monday, December 29th. Seven research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Ambev currently has a consensus rating of “Reduce” and an average price target of $2.53.
View Our Latest Research Report on Ambev
Ambev Price Performance
The business has a 50-day moving average of $2.56 and a two-hundred day moving average of $2.38. The company has a current ratio of 1.15, a quick ratio of 0.86 and a debt-to-equity ratio of 0.02. The firm has a market cap of $45.78 billion, a P/E ratio of 16.20, a price-to-earnings-growth ratio of 2.94 and a beta of 0.65.
Ambev Announces Dividend
The business also recently disclosed a special dividend, which was paid on Friday, January 9th. Stockholders of record on Monday, December 22nd were issued a dividend of $0.049 per share. The ex-dividend date was Monday, December 22nd. This represents a dividend yield of 1,465.0%. Ambev’s dividend payout ratio is currently 183.33%.
Institutional Investors Weigh In On Ambev
Several hedge funds and other institutional investors have recently modified their holdings of ABEV. Oxbow Advisors LLC purchased a new position in shares of Ambev in the 3rd quarter valued at $2,805,000. Massachusetts Financial Services Co. MA boosted its position in Ambev by 12.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 36,058,376 shares of the company’s stock valued at $80,410,000 after purchasing an additional 3,864,844 shares in the last quarter. Eldred Rock Partners LLC grew its stake in Ambev by 11.6% in the third quarter. Eldred Rock Partners LLC now owns 3,962,046 shares of the company’s stock valued at $8,926,000 after purchasing an additional 412,189 shares during the last quarter. Kapitalo Investimentos Ltda raised its holdings in Ambev by 216.3% in the third quarter. Kapitalo Investimentos Ltda now owns 1,784,142 shares of the company’s stock worth $3,979,000 after purchasing an additional 1,220,006 shares in the last quarter. Finally, Allianz Asset Management GmbH purchased a new stake in shares of Ambev during the second quarter valued at about $362,000. Institutional investors own 8.13% of the company’s stock.
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.