Ambev S.A. (ABEV) Upgraded by Zacks Investment Research to “Hold”
Zacks Investment Research upgraded shares of Ambev S.A. (NYSE:ABEV) from a sell rating to a hold rating in a report released on Thursday, June 15th.
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. “
Separately, Citigroup Inc. cut shares of Ambev from a buy rating to a neutral rating in a report on Friday, March 3rd. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $6.21.
Ambev (NYSE ABEV) traded up 0.092% during trading on Thursday, hitting $5.435. The company had a trading volume of 4,849,132 shares. Ambev has a one year low of $4.70 and a one year high of $6.39. The stock has a market capitalization of $85.35 billion, a PE ratio of 24.049 and a beta of 0.62. The stock has a 50-day moving average of $5.76 and a 200-day moving average of $5.50.
The firm also recently announced a special dividend, which will be paid on Monday, July 24th. Shareholders of record on Wednesday, June 28th will be issued a dividend of $0.0493 per share. This is a boost from Ambev’s previous special dividend of $0.03. The ex-dividend date is Monday, June 26th.
Hedge funds and other institutional investors have recently modified their holdings of the company. Quadrature Capital Ltd acquired a new position in shares of Ambev during the fourth quarter valued at about $8,274,000. Wedbush Securities Inc. raised its stake in shares of Ambev by 2.2% in the first quarter. Wedbush Securities Inc. now owns 17,365 shares of the company’s stock valued at $100,000 after buying an additional 369 shares during the last quarter. M&T Bank Corp raised its stake in shares of Ambev by 45.4% in the first quarter. M&T Bank Corp now owns 1,130,259 shares of the company’s stock valued at $6,509,000 after buying an additional 353,004 shares during the last quarter. ETRADE Capital Management LLC raised its stake in shares of Ambev by 45.6% in the third quarter. ETRADE Capital Management LLC now owns 201,261 shares of the company’s stock valued at $1,226,000 after buying an additional 63,029 shares during the last quarter. Finally, First Mercantile Trust Co. raised its stake in shares of Ambev by 20.5% in the first quarter. First Mercantile Trust Co. now owns 107,463 shares of the company’s stock valued at $619,000 after buying an additional 18,262 shares during the last quarter. Institutional investors own 7.76% of the company’s stock.
Ambev Company Profile
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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