Ambev (NYSE:ABEV) Sets New 52-Week Low at $2.05

Ambev S.A. (NYSE:ABEV) shares hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $2.05 and last traded at $2.07, with a volume of 3780367 shares changing hands. The stock had previously closed at $2.10.

Analysts Set New Price Targets

A number of brokerages have commented on ABEV. Barclays reduced their price objective on Ambev from $3.00 to $2.50 and set an “equal weight” rating for the company in a research report on Thursday, May 9th. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Ambev in a research report on Friday, March 1st. Finally, StockNews.com lowered shares of Ambev from a “strong-buy” rating to a “buy” rating in a report on Monday. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $2.68.

Ambev Trading Down 0.7 %

The company has a 50 day moving average of $2.26 and a 200 day moving average of $2.49. The firm has a market cap of $32.85 billion, a price-to-earnings ratio of 11.00, a price-to-earnings-growth ratio of 3.10 and a beta of 1.07. The company has a current ratio of 0.99, a quick ratio of 0.69 and a debt-to-equity ratio of 0.02.

Ambev (NYSE:ABEV) last issued its earnings results on Wednesday, May 8th. The company reported $0.05 EPS for the quarter, meeting the consensus estimate of $0.05. The company had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $4 billion. Ambev had a net margin of 18.25% and a return on equity of 17.53%. As a group, research analysts anticipate that Ambev S.A. will post 0.18 EPS for the current year.

Institutional Trading of Ambev

Several hedge funds have recently modified their holdings of the company. Baron Wealth Management LLC grew its position in Ambev by 11.5% during the 4th quarter. Baron Wealth Management LLC now owns 38,362 shares of the company’s stock worth $107,000 after acquiring an additional 3,963 shares during the last quarter. Hartford Financial Management Inc. increased its stake in shares of Ambev by 49.9% in the fourth quarter. Hartford Financial Management Inc. now owns 12,739 shares of the company’s stock valued at $36,000 after buying an additional 4,238 shares in the last quarter. Rehmann Capital Advisory Group raised its holdings in shares of Ambev by 37.2% in the third quarter. Rehmann Capital Advisory Group now owns 16,021 shares of the company’s stock valued at $41,000 after buying an additional 4,348 shares during the last quarter. Scotia Capital Inc. lifted its position in Ambev by 0.3% during the 4th quarter. Scotia Capital Inc. now owns 1,393,397 shares of the company’s stock worth $3,902,000 after buying an additional 4,509 shares in the last quarter. Finally, QRG Capital Management Inc. grew its holdings in Ambev by 15.9% during the 4th quarter. QRG Capital Management Inc. now owns 34,701 shares of the company’s stock worth $97,000 after acquiring an additional 4,763 shares during the last quarter. Institutional investors and hedge funds own 8.13% of the company’s stock.

About Ambev

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.