Ambev (NYSE:ABEV) Reaches New 1-Year Low – Here’s What Happened

Ambev S.A. (NYSE:ABEV) shares reached a new 52-week low during trading on Tuesday . The stock traded as low as $1.88 and last traded at $1.90, with a volume of 69587984 shares traded. The stock had previously closed at $2.06.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on Ambev in a research note on Tuesday. They set a “buy” rating for the company.

Ambev Stock Performance

The company’s 50 day simple moving average is $2.20 and its two-hundred day simple moving average is $2.22. The company has a quick ratio of 0.89, a current ratio of 1.20 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $29.93 billion, a price-to-earnings ratio of 10.56, a P/E/G ratio of 6.67 and a beta of 1.05.

Ambev Cuts Dividend

The firm also recently announced an annual dividend, which will be paid on Thursday, January 9th. Investors of record on Monday, December 23rd will be paid a dividend of $0.0414 per share. The ex-dividend date is Monday, December 23rd. This represents a yield of 1.93%. Ambev’s dividend payout ratio (DPR) is 38.89%.

Institutional Investors Weigh In On Ambev

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Raymond James & Associates increased its stake in Ambev by 154.0% during the 2nd quarter. Raymond James & Associates now owns 1,805,328 shares of the company’s stock valued at $3,701,000 after purchasing an additional 1,094,629 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Ambev by 26.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 947,932 shares of the company’s stock worth $1,943,000 after acquiring an additional 198,462 shares during the period. Allspring Global Investments Holdings LLC grew its stake in Ambev by 323.2% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 9,913,282 shares of the company’s stock valued at $20,322,000 after purchasing an additional 7,570,842 shares during the last quarter. Atomi Financial Group Inc. grew its stake in Ambev by 49.3% during the 2nd quarter. Atomi Financial Group Inc. now owns 46,272 shares of the company’s stock valued at $95,000 after purchasing an additional 15,271 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its stake in shares of Ambev by 25.3% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 555,617 shares of the company’s stock worth $1,139,000 after purchasing an additional 112,190 shares during the last quarter. 8.13% of the stock is currently owned by hedge funds and other institutional investors.

Ambev Company Profile

Ambev SA, through its subsidiaries, engages in the production, distribution, and sale of beer, draft beer, carbonated soft drinks, malt and food, other alcoholic beverages, and non-alcoholic and non-carbonated products in Brazil, Central America and Caribbean, Latin America South, and Canada. It offers beer primarily under the Skol, Brahma, Antarctica, Brahva, Budweiser, Bud Light, Beck, Leffe, Hoegaarden, Balboa ICE, Balboa, Atlas Golden Light, Atlas, 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, Bud 66, Banks, Deputy, Patricia, Labatt Blue, Alexander Keith’s, and Kokanee brands.