Separately, Zacks Investment Research upgraded shares of Ambev from a hold rating to a buy rating and set a $6.00 price objective on the stock in a research note on Monday, July 10th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $6.16.
Ambev (NYSE ABEV) traded up 1.16% during mid-day trading on Friday, reaching $6.12. 11,601,588 shares of the company were exchanged. The company has a market capitalization of $96.13 billion, a price-to-earnings ratio of 25.19 and a beta of 0.66. The company has a 50 day moving average of $5.83 and a 200-day moving average of $5.70. Ambev has a 1-year low of $4.70 and a 1-year high of $6.39.
Ambev (NYSE:ABEV) last posted its quarterly earnings data on Thursday, July 27th. The company reported $0.04 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.04. The company had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.33 billion. Ambev had a net margin of 27.14% and a return on equity of 23.24%. On average, equities research analysts forecast that Ambev will post $0.23 EPS for the current year.
The firm also recently disclosed a special dividend, which was paid on Monday, July 24th. Shareholders of record on Wednesday, June 28th were issued a $0.0493 dividend. The ex-dividend date was Monday, June 26th. This is an increase from Ambev’s previous special dividend of $0.03. Ambev’s payout ratio is currently 50.00%.
Several institutional investors have recently made changes to their positions in the stock. Vontobel Asset Management Inc. increased its position in shares of Ambev by 4.6% in the second quarter. Vontobel Asset Management Inc. now owns 168,685,140 shares of the company’s stock valued at $942,525,000 after buying an additional 7,409,229 shares during the period. Lazard Asset Management LLC boosted its stake in shares of Ambev by 5.1% in the first quarter. Lazard Asset Management LLC now owns 92,524,491 shares of the company’s stock worth $532,940,000 after buying an additional 4,527,340 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Ambev by 17.3% in the second quarter. JPMorgan Chase & Co. now owns 86,117,491 shares of the company’s stock worth $472,786,000 after buying an additional 12,723,137 shares in the last quarter. OppenheimerFunds Inc. boosted its stake in shares of Ambev by 1.8% in the first quarter. OppenheimerFunds Inc. now owns 63,866,440 shares of the company’s stock worth $367,871,000 after buying an additional 1,148,134 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Ambev by 0.5% in the second quarter. Vanguard Group Inc. now owns 40,388,366 shares of the company’s stock valued at $221,732,000 after buying an additional 192,012 shares during the period. 7.73% of the stock is owned by institutional investors.
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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