Ambev (NYSE:ABEV) Stock Price Up 5.8% After Dividend Announcement

Ambev S.A. (NYSE:ABEV) shares traded up 5.8% on Thursday following a dividend announcement from the company. The stock traded as high as $2.13 and last traded at $2.11. 32,185,018 shares were traded during mid-day trading, a decline of 18% from the average session volume of 39,059,348 shares. The stock had previously closed at $1.99.

The newly announced dividend which will be paid on Monday, April 14th. Shareholders of record on Tuesday, March 18th will be given a dividend of $0.0221 per share. The ex-dividend date is Tuesday, March 18th. Ambev’s payout ratio is 38.89%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on ABEV shares. Citigroup reaffirmed a “neutral” rating on shares of Ambev in a research report on Wednesday, January 22nd. StockNews.com started coverage on Ambev in a report on Monday, January 27th. They issued a “buy” rating for the company. Barclays lowered their price target on Ambev from $2.50 to $2.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 21st. Finally, Bank of America cut shares of Ambev from a “buy” rating to a “neutral” rating in a research note on Friday, January 17th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $2.45.

Ambev Price Performance

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 fifty day simple moving average of $1.86 and a 200-day simple moving average of $2.14. The stock has a market cap of $33.16 billion, a price-to-earnings ratio of 11.69, a price-to-earnings-growth ratio of 5.80 and a beta of 1.04.

Ambev (NYSE:ABEV) last posted its quarterly earnings results on Wednesday, February 26th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.01). Ambev had a return on equity of 16.12% and a net margin of 17.02%. The company had revenue of $4.63 billion during the quarter, compared to analyst estimates of $22.42 billion. As a group, equities research analysts expect that Ambev S.A. will post 0.18 EPS for the current year.

Institutional Trading of Ambev

A number of institutional investors and hedge funds have recently modified their holdings of the company. Prime Capital Investment Advisors LLC increased its holdings in Ambev by 37.9% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 17,685 shares of the company’s stock valued at $43,000 after buying an additional 4,861 shares during the period. PDS Planning Inc lifted its stake in Ambev by 18.4% during the third quarter. PDS Planning Inc now owns 34,870 shares of the company’s stock worth $85,000 after purchasing an additional 5,409 shares during the period. Endowment Wealth Management Inc. boosted its holdings in Ambev by 21.6% during the third quarter. Endowment Wealth Management Inc. now owns 31,525 shares of the company’s stock valued at $77,000 after purchasing an additional 5,592 shares in the last quarter. Ballentine Partners LLC grew its stake in shares of Ambev by 9.2% in the 3rd quarter. Ballentine Partners LLC now owns 67,247 shares of the company’s stock valued at $164,000 after purchasing an additional 5,677 shares during the period. Finally, NewEdge Advisors LLC lifted its position in shares of Ambev by 51.4% during the 4th quarter. NewEdge Advisors LLC now owns 17,084 shares of the company’s stock worth $32,000 after buying an additional 5,798 shares during the period. 8.13% of the stock is currently owned by 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.