Ambev S.A. (ABEV) Upgraded at Zacks Investment Research
According to Zacks, “Companhia de Bebidas das Americas (AmBev), based in São Paulo, is engaged in producing, distributing and selling beer, carbonated soft drinks and other non-alcoholic and non-carbonated products in many countries across the Americas. It maintains an agreement with PepsiCo International, Inc. to bottle, sell and distribute Pepsi products in Brazil and in other Latin American countries, including Lipton Ice Tea, Gatorade, H2OH!, Propel and Frutzzz. AmBev conducts its operations through three business units: Latin America North, Latin America South and Canada. Latin America North includes its operations in Brazil, where it operates two divisions: beer sales and carbonated soft drinks and non-alcoholic non-carbonated sales; and its operations in its Hispanic Latin America Operations, excluding Latin America South, operations. Latin America South includes its Quinsa operations in the countries of Argentina, Bolivia, Paraguay, Uruguay and Chile. Canada, represented by Labatt, includes domestic sales in Canada. “
A number of other research firms also recently weighed in on ABEV. Barclays PLC started coverage on shares of Ambev in a research report on Thursday, November 3rd. They issued an equal weight rating and a $6.00 price target for the company. TheStreet upgraded shares of Ambev from a hold rating to a buy rating in a research report on Friday, October 28th. Finally, J P Morgan Chase & Co upgraded shares of Ambev from a neutral rating to an overweight rating and set a $5.60 price target for the company in a research report on Thursday, November 10th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of $6.21.
Ambev (NYSE:ABEV) opened at 5.81 on Tuesday. The stock has a 50 day moving average price of $5.32 and a 200-day moving average price of $5.60. Ambev has a 1-year low of $4.33 and a 1-year high of $6.34. The firm has a market cap of $91.21 billion, a P/E ratio of 23.91 and a beta of 0.72.
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The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 2nd. Stockholders of record on Thursday, January 26th will be given a $0.0213 dividend. The ex-dividend date is Tuesday, January 24th. This represents a $0.09 dividend on an annualized basis and a dividend yield of 1.47%.
Several large investors have recently added to or reduced their stakes in the stock. Lazard Asset Management LLC boosted its position in shares of Ambev by 0.4% in the third quarter. Lazard Asset Management LLC now owns 88,665,812 shares of the company’s stock worth $539,973,000 after buying an additional 391,966 shares during the period. William Blair Investment Management LLC boosted its position in shares of Ambev by 6.7% in the second quarter. William Blair Investment Management LLC now owns 53,076,255 shares of the company’s stock worth $313,681,000 after buying an additional 3,331,003 shares during the period. Mondrian Investment Partners LTD boosted its position in shares of Ambev by 94.6% in the third quarter. Mondrian Investment Partners LTD now owns 29,607,100 shares of the company’s stock worth $180,307,000 after buying an additional 14,390,500 shares during the period. Fisher Asset Management LLC boosted its position in shares of Ambev by 0.3% in the third quarter. Fisher Asset Management LLC now owns 23,819,841 shares of the company’s stock worth $145,063,000 after buying an additional 67,881 shares during the period. Finally, BlackRock Group LTD boosted its position in shares of Ambev by 2.4% in the third quarter. BlackRock Group LTD now owns 23,521,009 shares of the company’s stock worth $143,243,000 after buying an additional 556,789 shares during the period. Institutional investors own 7.33% of the company’s stock.
Ambev SA, formerly Inbev Participacoes Societarias SA, is a Brazil-based company engaged in the brewing sector. The Company produces and sells beer, carbonated soft drinks (CSDs) and other non-alcoholic and non-carbonated (NANC) beverages across the Americas. The Company’s activities are divided into three segments: Latin America North, including sell of beer, CSD and NANC drinks in Brazil, as well as operations in Dominican Republic, Saint Vincent, Antigua, Dominica, Guatemala, El Salvador, Nicaragua and Cuba; Latin America South, distributing products in Argentina, Bolivia, Paraguay, Uruguay, Chile, Ecuador, Peru and Colombia, and Canada, represented by Labatt’s operations, which comprises sales in Canada.
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