Ambev (NYSE:ABEV) Reaches New 1-Year High - Here's Why

Shares of Ambev S.A. (NYSE:ABEV - Get Free Report) hit a new 52-week high during trading on Tuesday . The company traded as high as $2.57 and last traded at $2.56, with a volume of 31519474 shares changing hands. The stock had previously closed at $2.49.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Bank of America downgraded shares of Ambev from a "buy" rating to a "neutral" rating in a research report on Friday, January 17th. Citigroup reissued a "neutral" rating on shares of Ambev in a report on Wednesday, January 22nd. StockNews.com began coverage on Ambev in a research note on Wednesday, April 23rd. They set a "buy" rating for the company. Barclays decreased their target price on Ambev from $2.50 to $2.00 and set an "equal weight" rating on the stock in a report on Tuesday, January 21st. Finally, UBS Group lowered shares of Ambev from a "buy" rating to a "neutral" rating in a research report on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Ambev currently has an average rating of "Hold" and an average target price of $2.45.

Ambev Stock Up 0.6 %

The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.89 and a current ratio of 1.20. The company has a market capitalization of $39.47 billion, a price-to-earnings ratio of 13.92, a PEG ratio of 5.80 and a beta of 0.68. The business's 50 day moving average is $2.29 and its 200 day moving average is $2.12.

Ambev (NYSE:ABEV - Get Free Report) last issued its earnings results on Wednesday, February 26th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.06 by ($0.01). The firm had revenue of $4.63 billion during the quarter, compared to analysts' expectations of $22.42 billion. Ambev had a return on equity of 16.12% and a net margin of 17.02%. Sell-side analysts anticipate that Ambev S.A. will post 0.18 earnings per share for the current year.

Ambev Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 14th. Shareholders of record on Tuesday, March 18th were given a $0.0221 dividend. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $0.09 dividend on an annualized basis and a dividend yield of 3.52%. Ambev's dividend payout ratio (DPR) is currently 52.94%.

Hedge Funds Weigh In On Ambev

Institutional investors and hedge funds have recently bought and sold shares of the business. Stephens Inc. AR increased its position in Ambev by 23.4% during the first quarter. Stephens Inc. AR now owns 213,591 shares of the company's stock worth $498,000 after purchasing an additional 40,525 shares during the last quarter. Riversedge Advisors LLC purchased a new position in shares of Ambev in the first quarter valued at approximately $45,000. Xponance Inc. purchased a new stake in Ambev during the 1st quarter worth approximately $38,000. Genus Capital Management Inc. raised its position in Ambev by 200.0% in the 1st quarter. Genus Capital Management Inc. now owns 66,000 shares of the company's stock valued at $154,000 after purchasing an additional 132,000 shares in the last quarter. Finally, M&T Bank Corp purchased a new stake in shares of Ambev during the first quarter worth approximately $30,000. 8.13% of the stock is currently owned by institutional investors and hedge funds.

Ambev Company Profile

Ambev SA, through its subsidiaries, engages in the production, distribution, and sale of beer, draft beer, carbonated soft drinks, malt and food, other alcoholic beverages, and non-alcoholic and non-carbonated products in Brazil, Central America and Caribbean, Latin America South, and Canada. It offers beer primarily under the Skol, Brahma, Antarctica, Brahva, Budweiser, Bud Light, Beck, Leffe, Hoegaarden, Balboa ICE, Balboa, Atlas Golden Light, Atlas, Bucanero, Cristal, Mayabe, Presidente, Presidente Light, Brahma Light, Bohemia, The One, Corona, Modelo Especial, Stella Artois, Quilmes Clásica, Paceña, Taquiña, Huari, Becker, Cusqueña, Michelob Ultra, Busch, Pilsen, Ouro Fino, Bud 66, Banks, Deputy, Patricia, Labatt Blue, Alexander Keith's, and Kokanee brands.