Ambev (NYSE:ABEV) Reaches New 12-Month High – Here’s What Happened

Ambev S.A. (NYSE:ABEV) shares hit a new 52-week high during trading on Wednesday . The company traded as high as $2.63 and last traded at $2.6150, with a volume of 4252889 shares traded. The stock had previously closed at $2.60.

Wall Street Analysts Forecast Growth

ABEV has been the subject of a number of research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ambev in a report on Monday, December 29th. Sanford C. Bernstein restated a “market perform” rating and set a $2.88 price target on shares of Ambev in a research report on Wednesday, November 26th. Finally, Zacks Research upgraded Ambev from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 30th. Eight equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $2.53.

Ambev Stock Performance

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 has a market cap of $41.05 billion, a PE ratio of 14.47, a PEG ratio of 2.74 and a beta of 0.67. The firm’s 50 day moving average is $2.51 and its 200-day moving average is $2.35.

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

Ambev Dividend Announcement

The firm 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. The ex-dividend date was Monday, December 22nd. This represents a dividend yield of 1,465.0%. Ambev’s payout ratio is 183.33%.

Hedge Funds Weigh In On Ambev

Several hedge funds and other institutional investors have recently made changes to their positions in ABEV. Allianz Asset Management GmbH acquired a new stake in shares of Ambev during the second quarter worth about $362,000. Eldred Rock Partners LLC raised its stake in Ambev by 11.6% during the 3rd quarter. Eldred Rock Partners LLC now owns 3,962,046 shares of the company’s stock valued at $8,926,000 after acquiring an additional 412,189 shares during the last quarter. American Century Companies Inc. lifted its position in Ambev by 22.8% during the 2nd quarter. American Century Companies Inc. now owns 3,013,784 shares of the company’s stock worth $7,263,000 after acquiring an additional 558,659 shares during the period. Envestnet Portfolio Solutions Inc. lifted its position in Ambev by 54.2% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 34,905 shares of the company’s stock worth $84,000 after acquiring an additional 12,268 shares during the period. Finally, Callan Family Office LLC grew its stake in shares of Ambev by 152.8% in the 2nd quarter. Callan Family Office LLC now owns 216,501 shares of the company’s stock valued at $522,000 after purchasing an additional 130,867 shares during the last quarter. Hedge funds and other institutional investors own 8.13% of the company’s stock.

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.