Ambev S.A. (ABEV) Given Average Rating of “Buy” by Brokerages
Ambev S.A. (NYSE:ABEV) has been given an average recommendation of “Buy” by the seven research firms that are presently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price target among analysts that have covered the stock in the last year is $6.16.
Separately, Zacks Investment Research downgraded shares of Ambev from a “buy” rating to a “hold” rating in a research note on Monday, March 27th.
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Hedge funds have recently bought and sold shares of the stock. Two Sigma Investments LP boosted its stake in Ambev by 631.0% in the fourth quarter. Two Sigma Investments LP now owns 166,634 shares of the company’s stock valued at $818,000 after buying an additional 143,839 shares in the last quarter. Quadrature Capital Ltd bought a new stake in Ambev during the fourth quarter valued at about $8,274,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Ambev during the fourth quarter valued at about $215,000. RMB Capital Management LLC bought a new stake in Ambev during the fourth quarter valued at about $108,000. Finally, Macquarie Group Ltd. boosted its stake in Ambev by 2.9% in the fourth quarter. Macquarie Group Ltd. now owns 236,500 shares of the company’s stock valued at $1,161,000 after buying an additional 6,600 shares in the last quarter. 7.75% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Ambev (NYSE:ABEV) opened at 5.94 on Friday. Ambev has a one year low of $4.70 and a one year high of $6.39. The firm has a market capitalization of $93.28 billion, a price-to-earnings ratio of 25.38 and a beta of 0.64. The stock has a 50 day moving average of $5.58 and a 200-day moving average of $5.61.
The business also recently declared a special dividend, which will be paid on Monday, July 24th. Investors of record on Wednesday, June 28th will be issued a $0.0493 dividend. The ex-dividend date is Monday, June 26th. This is a boost from Ambev’s previous special dividend of $0.03. Ambev’s dividend payout ratio is currently 50.00%.
Ambev SA, formerly Inbev Participacoes Societarias SA, is a Brazil-based company engaged in the brewing sector. The Company produces and sells beer, carbonated soft drinks (CSDs) and other non-alcoholic and non-carbonated (NANC) beverages across the Americas. The Company’s activities are divided into three segments: Latin America North, including sell of beer, CSD and NANC drinks in Brazil, as well as operations in Dominican Republic, Saint Vincent, Antigua, Dominica, Guatemala, El Salvador, Nicaragua and Cuba; Latin America South, distributing products in Argentina, Bolivia, Paraguay, Uruguay, Chile, Ecuador, Peru and Colombia, and Canada, represented by Labatt’s operations, which comprises sales in Canada.
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