Analysts Set Ambev S.A. (NYSE:ABEV) Price Target at $3.30

Shares of Ambev S.A. (NYSE:ABEVGet Free Report) have received an average rating of “Moderate Buy” from the five analysts that are presently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $3.30.

Several brokerages recently commented on ABEV. TheStreet raised Ambev from a “c+” rating to a “b-” rating in a research report on Friday, December 1st. Citigroup initiated coverage on Ambev in a research report on Thursday, December 7th. They issued a “buy” rating for the company. StockNews.com initiated coverage on Ambev in a report on Friday, January 26th. They set a “buy” rating for the company. Morgan Stanley raised Ambev from an “underweight” rating to an “equal weight” rating in a report on Friday, December 8th. Finally, Jefferies Financial Group initiated coverage on Ambev in a report on Wednesday, November 22nd. They set a “hold” rating and a $2.86 price objective for the company.

Read Our Latest Report on Ambev

Institutional Trading of Ambev

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. increased its stake in shares of Ambev by 244.5% in the 2nd quarter. Goldman Sachs Group Inc. now owns 43,146,270 shares of the company’s stock valued at $108,297,000 after acquiring an additional 30,623,051 shares during the last quarter. BlackRock Inc. increased its stake in shares of Ambev by 39.1% in the 3rd quarter. BlackRock Inc. now owns 48,691,824 shares of the company’s stock valued at $137,798,000 after acquiring an additional 13,691,138 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Ambev by 102.1% in the 1st quarter. Renaissance Technologies LLC now owns 22,177,326 shares of the company’s stock valued at $62,540,000 after acquiring an additional 11,204,526 shares during the last quarter. Millennium Management LLC increased its stake in shares of Ambev by 34,240.8% in the 4th quarter. Millennium Management LLC now owns 8,181,005 shares of the company’s stock valued at $22,252,000 after acquiring an additional 8,157,182 shares during the last quarter. Finally, Deutsche Bank AG increased its stake in shares of Ambev by 73.6% in the 4th quarter. Deutsche Bank AG now owns 10,928,300 shares of the company’s stock valued at $29,725,000 after acquiring an additional 4,632,200 shares during the last quarter. 8.37% of the stock is owned by institutional investors.

Ambev Stock Down 2.3 %

ABEV opened at $2.59 on Monday. Ambev has a 1-year low of $2.40 and a 1-year high of $3.23. The company has a current ratio of 1.11, a quick ratio of 0.79 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $40.79 billion, a price-to-earnings ratio of 14.39, a P/E/G ratio of 2.63 and a beta of 1.09. The business has a 50 day moving average of $2.77 and a 200-day moving average of $2.75.

Ambev Cuts Dividend

The company also recently disclosed an annual dividend, which was paid on Monday, January 8th. Shareholders of record on Tuesday, December 26th were issued a dividend of $0.1443 per share. The ex-dividend date of this dividend was Friday, December 22nd. This represents a yield of 3.7%. Ambev’s dividend payout ratio is currently 138.89%.

About Ambev

(Get Free Report

Ambev SA, through its subsidiaries, engages in the production, distribution, and sale of beer, draft beer, carbonated soft drinks, other non-alcoholic beverages, malt, and food products. It offers beer primarily under the Skol, Brahma, Antarctica, Brahva, Budweiser, Bud Light, Beck, Leffe and Hoegaarden, Bucanero, Cristal, Mayabe, Presidente, Presidente Light, Brahma Light, Bohemia, The One, Corona, Modelo Especial, Stella Artois, Quilmes Clásica, Paceña, Taquiña, Huari, Becker, Cusqueña, Michelob Ultra, Busch, Pilsen, Ouro Fino, Banks, Deputy, Patricia, Labatt Blue, Alexander Keith's, and Kokanee brands.

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Analyst Recommendations for Ambev (NYSE:ABEV)

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