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

Ambev S.A. (NYSE:ABEV) reached a new 52-week high during trading on Monday . The company traded as high as $2.94 and last traded at $2.9450, with a volume of 5484054 shares changing hands. The stock had previously closed at $2.94.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Sanford C. Bernstein restated a “market perform” rating and set a $2.88 target price on shares of Ambev in a research report on Wednesday, November 26th. Weiss Ratings reissued a “hold (c)” rating on shares of Ambev in a research note on Monday, December 29th. Six analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Ambev presently has a consensus rating of “Reduce” and a consensus price target of $2.53.

Ambev Stock Performance

The company has a debt-to-equity ratio of 0.02, a current ratio of 1.15 and a quick ratio of 0.86. The company has a market cap of $46.09 billion, a price-to-earnings ratio of 16.31, a price-to-earnings-growth ratio of 3.11 and a beta of 0.65. The stock has a 50-day moving average price of $2.59 and a 200 day moving average price of $2.40.

Ambev Dividend Announcement

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

Institutional Investors Weigh In On Ambev

Several large investors have recently made changes to their positions in ABEV. Perigon Wealth Management LLC lifted its position in Ambev by 34.3% in the 4th quarter. Perigon Wealth Management LLC now owns 15,411 shares of the company’s stock valued at $38,000 after acquiring an additional 3,936 shares in the last quarter. Blair William & Co. IL increased its holdings in Ambev by 3.4% during the 3rd quarter. Blair William & Co. IL now owns 140,579 shares of the company’s stock worth $313,000 after purchasing an additional 4,557 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Ambev by 2.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 240,887 shares of the company’s stock valued at $595,000 after purchasing an additional 4,700 shares during the period. West Family Investments Inc. lifted its holdings in shares of Ambev by 10.4% in the third quarter. West Family Investments Inc. now owns 51,819 shares of the company’s stock valued at $116,000 after purchasing an additional 4,891 shares in the last quarter. Finally, Jones Financial Companies Lllp boosted its position in shares of Ambev by 4.8% during the third quarter. Jones Financial Companies Lllp now owns 111,999 shares of the company’s stock worth $258,000 after buying an additional 5,091 shares during the period. Institutional investors own 8.13% of the company’s stock.

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.