Ambev’s (ABEV) Neutral Rating Reaffirmed at Citigroup

Ambev (NYSE:ABEV)‘s stock had its “neutral” rating reissued by investment analysts at Citigroup in a report released on Wednesday,Benzinga reports.

Several other research firms have also commented on ABEV. Bank of America lowered shares of Ambev from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. Barclays dropped their price target on Ambev from $2.50 to $2.00 and set an “equal weight” rating for the company in a research report on Tuesday. Finally, StockNews.com assumed coverage on Ambev in a research note on Sunday. They issued a “buy” rating for the company. Four 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.com, Ambev has an average rating of “Hold” and a consensus price target of $2.45.

Ambev Price Performance

Shares of ABEV traded down $0.02 during mid-day trading on Wednesday, hitting $1.81. 24,831,794 shares of the stock were exchanged, compared to its average volume of 45,770,883. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.89 and a current ratio of 1.20. The company has a market cap of $28.44 billion, a PE ratio of 10.03, a price-to-earnings-growth 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 firm has a 50-day moving average of $2.03 and a two-hundred day moving average of $2.19.

Institutional Investors Weigh In On Ambev

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA increased its position in shares of Ambev by 0.5% during 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 raised its position in Ambev by 6.3% during the 3rd 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 in the last quarter. Brandes Investment Partners LP lifted its holdings in shares of Ambev by 23.9% in the 2nd quarter. Brandes Investment Partners LP now owns 15,456,266 shares of the company’s stock worth $32,024,000 after buying an additional 2,982,621 shares during the period. Private Management Group Inc. grew its position 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 worth $32,765,000 after buying an additional 4,087,442 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Ambev by 33.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 13,236,234 shares of the company’s stock worth $32,296,000 after buying an additional 3,322,952 shares in 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.