Ambev (NYSE:ABEV) Reaches New 52-Week High – Here’s Why

Ambev S.A. (NYSE:ABEV) reached a new 52-week high on Tuesday . The stock traded as high as $2.82 and last traded at $2.8050, with a volume of 26485174 shares changing hands. The stock had previously closed at $2.78.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Zacks Research raised Ambev from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 30th. Sanford C. Bernstein restated a “market perform” rating and set a $2.88 target price on shares of Ambev in a research note on Wednesday, November 26th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ambev in a report on Monday, December 29th. Seven analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Ambev presently has a consensus rating of “Reduce” and a consensus target price of $2.53.

Ambev Stock Up 0.9%

The company has a quick ratio of 0.86, a current ratio of 1.15 and a debt-to-equity ratio of 0.02. The company has a fifty day moving average price of $2.52 and a 200-day moving average price of $2.36. The stock has a market capitalization of $44.20 billion, a P/E ratio of 15.58, a PEG ratio of 2.94 and a beta of 0.67.

Ambev (NYSE:ABEV) last posted its earnings results on Thursday, October 30th. The company reported $0.04 EPS for the quarter, meeting analysts’ consensus estimates 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 return on equity of 15.81% and a net margin of 17.90%. As a group, research analysts forecast that Ambev S.A. will post 0.18 EPS for the current fiscal year.

Ambev Announces Dividend

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

Hedge Funds Weigh In On Ambev

Several large investors have recently modified their holdings of ABEV. Modern Wealth Management LLC bought a new stake in Ambev in the third quarter worth $25,000. Monument Capital Management purchased a new stake in shares of Ambev in the fourth quarter valued at $25,000. First Trust Advisors LP bought a new stake in shares of Ambev in the 3rd quarter worth about $25,000. Integrated Wealth Concepts LLC bought a new stake in shares of Ambev in the 1st quarter worth about $26,000. Finally, Bensler LLC purchased a new position in shares of Ambev during the 3rd quarter worth about $27,000. 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.