Ambev (NYSE:ABEV) Lowered to “Neutral” Rating by Bank of America

Bank of America downgraded shares of Ambev (NYSE:ABEV) from a buy rating to a neutral rating in a research report sent to investors on Friday morning, MarketBeat Ratings reports.

Separately, StockNews.com started coverage on shares of Ambev in a research note on Saturday, January 11th. They set a “buy” rating for the company. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $2.70.

Ambev Stock Performance

NYSE ABEV opened at $1.79 on Friday. The company has a current ratio of 1.20, a quick ratio of 0.89 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $28.12 billion, a price-to-earnings ratio of 9.92, a PEG ratio of 5.23 and a beta of 1.05. The stock has a 50-day moving average of $2.06 and a 200 day moving average of $2.19. Ambev has a twelve month low of $1.76 and a twelve month high of $2.72.

Ambev Cuts Dividend

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

Hedge Funds Weigh In On Ambev

Several hedge funds and other institutional investors have recently modified their holdings of the business. American Century Companies Inc. raised its holdings in Ambev by 6.2% in the 2nd quarter. American Century Companies Inc. now owns 1,798,559 shares of the company’s stock valued at $3,687,000 after acquiring an additional 104,651 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in Ambev by 3.5% during the second quarter. Envestnet Asset Management Inc. now owns 5,129,849 shares of the company’s stock worth $10,516,000 after buying an additional 175,485 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its stake in Ambev by 40.1% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 155,975 shares of the company’s stock worth $318,000 after buying an additional 44,645 shares during the last quarter. XTX Topco Ltd purchased a new stake in Ambev in the 2nd quarter valued at $606,000. Finally, Pacer Advisors Inc. raised its holdings in shares of Ambev by 53.1% during the 2nd quarter. Pacer Advisors Inc. now owns 909,529 shares of the company’s stock worth $1,865,000 after acquiring an additional 315,640 shares during the period. 8.13% of the stock is 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.