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

Ambev S.A. (NYSE:ABEV)’s stock price hit a new 52-week low on Wednesday . The company traded as low as $2.01 and last traded at $2.02, with a volume of 29282479 shares traded. The stock had previously closed at $2.12.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on Ambev in a report on Friday, October 18th. They issued a “buy” rating on the stock.

Ambev Trading Up 1.5 %

The company has a current ratio of 1.20, a quick ratio of 0.89 and a debt-to-equity ratio of 0.02. The stock has a market cap of $32.45 billion, a price-to-earnings ratio of 11.44, a price-to-earnings-growth ratio of 6.67 and a beta of 1.05. The business has a 50 day simple moving average of $2.22 and a two-hundred day simple moving average of $2.23.

Ambev Cuts Dividend

The firm also recently announced an annual dividend, which will be paid on Thursday, January 9th. Shareholders of record on Monday, December 23rd will be paid a dividend of $0.0414 per share. This represents a yield of 1.93%. The ex-dividend date of this dividend is Monday, December 23rd. Ambev’s payout ratio is currently 38.89%.

Institutional Investors Weigh In On Ambev

A number of institutional investors have recently added to or reduced their stakes in the company. Jane Street Group LLC increased its position in shares of Ambev by 132.9% in the third quarter. Jane Street Group LLC now owns 1,976,147 shares of the company’s stock worth $4,822,000 after acquiring an additional 1,127,719 shares in the last quarter. Raymond James & Associates grew its position in Ambev by 154.0% during the 2nd quarter. Raymond James & Associates now owns 1,805,328 shares of the company’s stock worth $3,701,000 after purchasing an additional 1,094,629 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Ambev by 311.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 768,419 shares of the company’s stock worth $1,575,000 after purchasing an additional 581,880 shares in the last quarter. Seafarer Capital Partners LLC raised its stake in Ambev by 6.3% during the 3rd quarter. Seafarer Capital Partners LLC now owns 30,069,000 shares of the company’s stock valued at $73,368,000 after purchasing an additional 1,770,000 shares during the period. Finally, Oppenheimer Asset Management Inc. lifted its holdings in shares of Ambev by 32.0% in the third quarter. Oppenheimer Asset Management Inc. now owns 1,067,893 shares of the company’s stock valued at $2,606,000 after purchasing an additional 258,875 shares in the last quarter. 8.13% of the stock is currently owned by institutional investors and hedge funds.

About Ambev

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.