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

Bank of America downgraded shares of Ambev (NYSE:ABEV) from a buy rating to a neutral rating in a research note released on Friday, MarketBeat reports.

Separately, StockNews.com assumed coverage on shares of Ambev in a report on Saturday, January 11th. They set a “buy” rating on the stock. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $2.70.

Ambev Stock Performance

ABEV opened at $1.79 on Friday. The company has a market cap of $28.12 billion, a P/E ratio of 9.92, a price-to-earnings-growth ratio of 5.23 and a beta of 1.05. The company has a quick ratio of 0.89, a current ratio of 1.20 and a debt-to-equity ratio of 0.02. The firm’s 50-day moving average price is $2.06 and its 200-day moving average price is $2.19. Ambev has a 52-week low of $1.76 and a 52-week high of $2.72.

Ambev Cuts Dividend

The firm also recently declared an annual dividend, which was paid on Thursday, January 9th. Investors of record on Monday, December 23rd were issued a $0.0414 dividend. The ex-dividend date 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

Institutional investors have recently bought and sold shares of the business. Massachusetts Financial Services Co. MA increased its stake in shares of Ambev by 0.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 42,904,893 shares of the company’s stock worth $104,688,000 after acquiring an additional 226,238 shares during the period. Seafarer Capital Partners LLC boosted its holdings in Ambev by 6.3% in the third quarter. Seafarer Capital Partners LLC now owns 30,069,000 shares of the company’s stock valued at $73,368,000 after purchasing an additional 1,770,000 shares during the last quarter. Brandes Investment Partners LP grew its position in Ambev by 23.9% during the 2nd quarter. Brandes Investment Partners LP now owns 15,456,266 shares of the company’s stock worth $32,024,000 after purchasing an additional 2,982,621 shares during the period. Kiltearn Partners LLP raised its stake in shares of Ambev by 43.3% during the 2nd quarter. Kiltearn Partners LLP now owns 14,575,900 shares of the company’s stock valued at $29,881,000 after buying an additional 4,407,800 shares during the last quarter. Finally, Private Management Group Inc. raised its stake in shares of Ambev by 43.8% during the 3rd quarter. Private Management Group Inc. now owns 13,428,352 shares of the company’s stock valued at $32,765,000 after buying an additional 4,087,442 shares during the last quarter. 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.