Ambev SA (ABEV) Downgraded to “Sell” at Zacks Investment Research
According to Zacks, “Companhia de Bebidas das Americas (AmBev), based in São Paulo, is engaged in producing, distributing and selling beer, carbonated soft drinks and other non-alcoholic and non-carbonated products in many countries across the Americas. It maintains an agreement with PepsiCo International, Inc. to bottle, sell and distribute Pepsi products in Brazil and in other Latin American countries, including Lipton Ice Tea, Gatorade, H2OH!, Propel and Frutzzz. AmBev conducts its operations through three business units: Latin America North, Latin America South and Canada. Latin America North includes its operations in Brazil, where it operates two divisions: beer sales and carbonated soft drinks and non-alcoholic non-carbonated sales; and its operations in its Hispanic Latin America Operations, excluding Latin America South, operations. Latin America South includes its Quinsa operations in the countries of Argentina, Bolivia, Paraguay, Uruguay and Chile. Canada, represented by Labatt, includes domestic sales in Canada. “
ABEV has been the subject of several other research reports. JPMorgan Chase & Co. upgraded Ambev SA from a neutral rating to an overweight rating and set a $5.60 price target for the company in a research note on Thursday, November 10th. TheStreet upgraded Ambev SA from a hold rating to a buy rating in a research note on Tuesday, August 9th. Morgan Stanley cut Ambev SA from an overweight rating to an equal weight rating and boosted their price target for the stock from $6.00 to $6.40 in a research note on Thursday, August 18th. They noted that the move was a valuation call. Goldman Sachs Group Inc. restated a buy rating and issued a $6.80 price target on shares of Ambev SA in a research note on Monday, October 10th. Finally, 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. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $6.16.
Shares of Ambev SA (NYSE:ABEV) opened at 4.99 on Tuesday. The stock has a market cap of $78.34 billion, a PE ratio of 22.28 and a beta of 0.77. The company’s 50-day moving average price is $5.66 and its 200-day moving average price is $5.76. Ambev SA has a one year low of $3.86 and a one year high of $6.34.
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The firm also recently disclosed a dividend, which will be paid on Monday, December 5th. Stockholders of record on Thursday, November 3rd will be paid a $0.0514 dividend. This is a positive change from Ambev SA’s previous dividend of $0.04. The ex-dividend date is Tuesday, November 1st.
Institutional investors have recently added to or reduced their stakes in the company. Tokio Marine Asset Management Co. Ltd. acquired a new position in Ambev SA during the third quarter worth $100,000. Royal Bank of Scotland Group PLC raised its position in 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. raised its position in 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 acquired a new position in Ambev SA during the third quarter worth $119,000. Finally, D.A. Davidson & CO. acquired a new position in Ambev SA during the third quarter worth $134,000. 7.23% of the stock is owned by hedge funds and other institutional investors.
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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