Ambev (NYSE:ABEV) Sets New 52-Week High – What’s Next?

Ambev S.A. (NYSE:ABEV) hit a new 52-week high on Tuesday . The stock traded as high as $3.23 and last traded at $3.2150, with a volume of 8388511 shares changing hands. The stock had previously closed at $3.13.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Wall Street Zen raised Ambev from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ambev in a research report on Monday, December 29th. Barclays raised their target price on shares of Ambev from $2.50 to $3.00 and gave the company an “equal weight” rating in a report on Tuesday, February 17th. Finally, Sanford C. Bernstein restated a “market perform” rating and issued a $2.88 target price on shares of Ambev in a research report on Wednesday, November 26th. Six equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Ambev presently has an average rating of “Reduce” and an average price target of $2.69.

Ambev Stock Performance

The company has a debt-to-equity ratio of 0.03, a current ratio of 0.96 and a quick ratio of 0.73. The stock has a market cap of $50.42 billion, a P/E ratio of 17.78, a PEG ratio of 2.38 and a beta of 0.65. The stock has a 50-day simple moving average of $2.74 and a 200-day simple moving average of $2.47.

Ambev (NYSE:ABEV) last posted its earnings results on Thursday, February 12th. The company reported $0.05 EPS for the quarter, hitting analysts’ consensus estimates of $0.05. The firm had revenue of $4.50 billion during the quarter, compared to analysts’ expectations of $4.28 billion. Ambev had a net margin of 17.75% and a return on equity of 16.41%. Research analysts forecast that Ambev S.A. will post 0.18 earnings per share for the current year.

Ambev Announces Dividend

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ABEV. Integrated Wealth Concepts LLC acquired a new stake in shares of Ambev during the 1st quarter valued at $26,000. Millennium Management LLC raised its position in Ambev by 62.5% in the first quarter. Millennium Management LLC now owns 2,399,472 shares of the company’s stock valued at $5,591,000 after purchasing an additional 922,566 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Ambev by 13.2% during the first quarter. Goldman Sachs Group Inc. now owns 5,000,107 shares of the company’s stock valued at $11,650,000 after purchasing an additional 582,153 shares in the last quarter. Focus Partners Wealth acquired a new stake in shares of Ambev during the first quarter valued at about $33,000. Finally, Acadian Asset Management LLC bought a new stake in shares of Ambev during the first quarter worth about $264,000. 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.