Brokerages Set Ambev S.A. (NYSE:ABEV) Price Target at $2.35

Ambev S.A. (NYSE:ABEV) has been assigned a consensus recommendation of “Reduce” from the nine research firms that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating and eight have issued a hold rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $2.35.

Several research firms recently weighed in on ABEV. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ambev in a report on Saturday, September 27th. Hsbc Global Res raised shares of Ambev to a “hold” rating in a report on Friday, August 1st. HSBC reaffirmed a “hold” rating on shares of Ambev in a report on Friday, August 1st. UBS Group reduced their price objective on shares of Ambev from $2.50 to $2.20 and set a “neutral” rating for the company in a report on Wednesday, August 20th. Finally, Zacks Research raised shares of Ambev from a “strong sell” rating to a “hold” rating in a report on Tuesday.

Ambev Stock Down 0.7%

Ambev stock opened at $2.18 on Monday. The company has a 50-day simple moving average of $2.24 and a 200-day simple moving average of $2.35. The firm has a market capitalization of $34.27 billion, a P/E ratio of 13.59, a P/E/G ratio of 2.27 and a beta of 0.85. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.80 and a current ratio of 1.11. Ambev has a one year low of $1.76 and a one year high of $2.63.

Ambev (NYSE:ABEV) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.03 EPS for the quarter, hitting the consensus estimate of $0.03. The business had revenue of $3.59 billion during the quarter, compared to analyst estimates of $21.84 billion. Ambev had a net margin of 16.18% and a return on equity of 15.39%. As a group, equities analysts expect that Ambev will post 0.18 earnings per share for the current year.

Ambev Increases Dividend

The firm also recently declared a — dividend, which will be paid on Tuesday, October 14th. Shareholders of record on Monday, August 11th will be given a $0.023 dividend. This represents a yield of 660.0%. This is a boost from Ambev’s previous — dividend of $0.02. The ex-dividend date is Monday, August 11th. Ambev’s dividend payout ratio (DPR) is presently 25.00%.

Institutional Investors Weigh In On Ambev

Several hedge funds and other institutional investors have recently bought and sold shares of ABEV. Russell Investments Group Ltd. raised its position in Ambev by 105.8% in the first quarter. Russell Investments Group Ltd. now owns 16,170,388 shares of the company’s stock worth $37,677,000 after acquiring an additional 8,312,561 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in Ambev by 74.8% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 13,409,316 shares of the company’s stock worth $32,624,000 after buying an additional 5,740,155 shares during the period. Great Lakes Advisors LLC raised its holdings in Ambev by 836.1% during the 1st quarter. Great Lakes Advisors LLC now owns 4,954,218 shares of the company’s stock worth $11,543,000 after buying an additional 4,424,987 shares during the period. Walleye Capital LLC raised its holdings in Ambev by 538.4% during the 1st quarter. Walleye Capital LLC now owns 5,242,702 shares of the company’s stock worth $12,215,000 after buying an additional 4,421,534 shares during the period. Finally, Strs Ohio acquired a new stake in Ambev during the 1st quarter worth about $7,133,000. 8.13% of the stock is currently owned by institutional investors.

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.