StockNews.com Initiates Coverage on Ambev (NYSE:ABEV)

StockNews.com assumed coverage on shares of Ambev (NYSE:ABEV) in a research report sent to investors on Saturday morning. The firm issued a buy rating on the stock.

Ambev Stock Performance

Shares of ABEV stock opened at $1.79 on Friday. The stock has a market cap of $28.12 billion, a PE ratio of 9.92, a price-to-earnings-growth ratio of 6.67 and a beta of 1.05. The stock has a 50-day moving average of $2.09 and a 200-day moving average of $2.20. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.20 and a quick ratio of 0.89. Ambev has a one year low of $1.76 and a one year high of $2.82.

Ambev Cuts Dividend

The company also recently declared an annual dividend, which was paid on Thursday, January 9th. Stockholders of record on Monday, December 23rd were given a dividend of $0.0414 per share. The ex-dividend date of this dividend was Monday, December 23rd. This represents a dividend yield of 1.93%. Ambev’s dividend payout ratio is 38.89%.

Institutional Trading of Ambev

Several hedge funds have recently added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA grew its stake in Ambev by 0.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 42,904,893 shares of the company’s stock valued at $104,688,000 after acquiring an additional 226,238 shares during the period. Renaissance Technologies LLC grew its position in shares of Ambev by 27.7% in the 2nd quarter. Renaissance Technologies LLC now owns 34,133,000 shares of the company’s stock valued at $69,973,000 after purchasing an additional 7,412,395 shares during the period. Seafarer Capital Partners LLC increased its stake in Ambev by 6.3% during the 3rd quarter. Seafarer Capital Partners LLC now owns 30,069,000 shares of the company’s stock worth $73,368,000 after purchasing an additional 1,770,000 shares in the last quarter. Brandes Investment Partners LP raised its holdings in Ambev by 23.9% during the 2nd quarter. Brandes Investment Partners LP now owns 15,456,266 shares of the company’s stock worth $32,024,000 after buying an additional 2,982,621 shares during the period. Finally, Kiltearn Partners LLP lifted its stake in Ambev by 43.3% in the second quarter. Kiltearn Partners LLP now owns 14,575,900 shares of the company’s stock valued at $29,881,000 after buying an additional 4,407,800 shares in the last quarter. Institutional investors and hedge funds own 8.13% of the company’s stock.

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.