Ambev (NYSE:ABEV) Receives Neutral Rating from Citigroup

Citigroup restated their neutral rating on shares of Ambev (NYSE:ABEV) in a report released on Wednesday,Benzinga reports.

ABEV has been the subject of a number of other reports. Bank of America cut shares of Ambev from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. StockNews.com began coverage on Ambev in a research note on Sunday. They issued a “buy” rating for the company. Finally, Barclays decreased their price objective on Ambev from $2.50 to $2.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $2.45.

Ambev Trading Down 0.8 %

Shares of NYSE:ABEV opened at $1.81 on Wednesday. The stock’s 50-day simple moving average is $2.03 and its two-hundred day simple moving average is $2.19. The stock has a market capitalization of $28.44 billion, a price-to-earnings ratio of 10.03, a PEG ratio of 5.38 and a beta of 1.05. Ambev has a 52-week low of $1.76 and a 52-week high of $2.72. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.89 and a current ratio of 1.20.

Ambev Cuts Dividend

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

Hedge Funds Weigh In On Ambev

A number of hedge funds have recently made changes to their positions in the business. Marshall Wace LLP grew its holdings in Ambev by 324.8% during the 2nd quarter. Marshall Wace LLP now owns 8,324,037 shares of the company’s stock valued at $17,064,000 after buying an additional 6,364,592 shares in the last quarter. Private Management Group Inc. grew its stake in Ambev by 43.8% during the third quarter. Private Management Group Inc. now owns 13,428,352 shares of the company’s stock valued at $32,765,000 after acquiring an additional 4,087,442 shares in the last quarter. Altrius Capital Management Inc bought a new stake in Ambev in the 3rd quarter valued at $8,630,000. Allspring Global Investments Holdings LLC lifted its stake in Ambev by 33.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 13,236,234 shares of the company’s stock worth $32,296,000 after purchasing an additional 3,322,952 shares in the last quarter. Finally, Brandes Investment Partners LP boosted its holdings in shares of Ambev by 23.9% during the 2nd quarter. Brandes Investment Partners LP now owns 15,456,266 shares of the company’s stock valued at $32,024,000 after purchasing an additional 2,982,621 shares during the last quarter. Institutional investors 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, 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.