Ambev SA (NYSE:ABEV) was the recipient of a significant drop in short interest in October. As of October 31st, there was short interest totalling 25,432,033 shares, a drop of 12.5% from the October 14th total of 29,075,369 shares. Based on an average trading volume of 15,112,924 shares, the days-to-cover ratio is currently 1.7 days. Approximately 0.2% of the company’s stock are short sold.

Shares of Ambev SA (NYSE:ABEV) opened at 5.01 on Tuesday. The firm’s 50 day moving average price is $5.91 and its 200-day moving average price is $5.78. Ambev SA has a 1-year low of $3.86 and a 1-year high of $6.34. The company has a market capitalization of $78.65 billion, a P/E ratio of 20.88 and a beta of 0.77.

The business also recently disclosed a dividend, which will be paid on Monday, December 5th. Investors of record on Thursday, November 3rd will be paid a dividend of $0.0514 per share. This is a boost from Ambev SA’s previous dividend of $0.04. The ex-dividend date is Tuesday, November 1st.

Several large investors have recently modified their holdings of the company. Tokio Marine Asset Management Co. Ltd. bought a new stake in shares of Ambev SA during the third quarter worth $100,000. Royal Bank of Scotland Group PLC boosted its stake in shares of Ambev SA by 36.5% in the third quarter. Royal Bank of Scotland Group PLC now owns 17,782 shares of the company’s stock worth $108,000 after buying an additional 4,758 shares during the period. Cornerstone Advisors Inc. boosted its stake in shares of Ambev SA by 8,549.5% in the third quarter. Cornerstone Advisors Inc. now owns 19,029 shares of the company’s stock worth $116,000 after buying an additional 18,809 shares during the period. Park National Corp OH bought a new stake in shares of Ambev SA during the third quarter worth $119,000. Finally, Commonwealth Equity Services Inc boosted its stake in shares of Ambev SA by 69.6% in the second quarter. Commonwealth Equity Services Inc now owns 23,647 shares of the company’s stock worth $140,000 after buying an additional 9,704 shares during the period. Hedge funds and other institutional investors own 7.63% of the company’s stock.

Several equities research analysts recently commented on ABEV shares. Morgan Stanley downgraded Ambev SA from an “overweight” rating to an “equal weight” rating and lifted their price objective for the stock from $6.00 to $6.40 in a report on Thursday, August 18th. They noted that the move was a valuation call. TheStreet upgraded Ambev SA from a “hold” rating to a “buy” rating in a report on Tuesday, August 9th. Goldman Sachs Group Inc. reiterated a “buy” rating and issued a $6.80 price objective on shares of Ambev SA in a report on Monday, October 10th. Barclays PLC started coverage on Ambev SA in a report on Thursday, November 3rd. They issued an “equal weight” rating and a $6.00 price objective for the company. Finally, JPMorgan Chase & Co. upgraded Ambev SA from a “neutral” rating to an “overweight” rating and set a $5.60 price objective for the company in a report on Thursday, November 10th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Ambev SA currently has a consensus rating of “Buy” and a consensus target price of $6.16.

About Ambev SA

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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