Ambev (NYSE:ABEV) Shares Gap Down - Here's What Happened

Key Points

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Ambev S.A. (NYSE:ABEV - Get Free Report) shares gapped down prior to trading on Thursday . The stock had previously closed at $2.30, but opened at $2.16. Ambev shares last traded at $2.20, with a volume of 19,284,816 shares changing hands.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Barclays raised their target price on Ambev from $2.00 to $2.50 and gave the company an "equal weight" rating in a research report on Monday, May 12th. Wall Street Zen initiated coverage on Ambev in a research report on Wednesday, April 23rd. They issued a "buy" rating on the stock. UBS Group lifted their price target on Ambev from $2.60 to $2.70 and gave the company a "neutral" rating in a research report on Wednesday, June 4th. Finally, Morgan Stanley cut Ambev from an "equal weight" rating to an "underweight" rating in a research report on Monday, April 7th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $2.60.

Ambev Trading Down 4.6%

The company has a market capitalization of $34.59 billion, a price-to-earnings ratio of 13.72, a PEG ratio of 2.48 and a beta of 0.74. The firm has a 50-day moving average price of $2.42 and a 200-day moving average price of $2.26. The company has a current ratio of 1.11, a quick ratio of 0.80 and a debt-to-equity ratio of 0.02.

Ambev (NYSE:ABEV - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.01). Ambev had a return on equity of 14.74% and a net margin of 15.76%. As a group, sell-side analysts predict that Ambev S.A. will post 0.18 EPS for the current year.

Ambev Cuts Dividend

The business also recently disclosed a -- dividend, which was paid on Thursday, July 17th. Stockholders of record on Monday, May 19th were paid a dividend of $0.0219 per share. This represents a dividend yield of 5%. The ex-dividend date of this dividend was Monday, May 19th. Ambev's dividend payout ratio is presently 68.75%.

Institutional Investors Weigh In On Ambev

Several large investors have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd boosted its stake in shares of Ambev by 149.4% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 69,413 shares of the company's stock worth $167,000 after acquiring an additional 41,585 shares in the last quarter. Ethic Inc. boosted its position in shares of Ambev by 8.6% in the second quarter. Ethic Inc. now owns 650,576 shares of the company's stock worth $1,535,000 after buying an additional 51,594 shares during the period. Rehmann Capital Advisory Group acquired a new stake in shares of Ambev in the second quarter worth $56,000. FLC Capital Advisors acquired a new stake in shares of Ambev in the second quarter worth $146,000. Finally, Unison Advisors LLC boosted its position in shares of Ambev by 2.2% in the second quarter. Unison Advisors LLC now owns 304,963 shares of the company's stock worth $742,000 after buying an additional 6,500 shares during the period. 8.13% of the stock is owned by institutional investors.

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.

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