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

Bank of America lowered shares of Ambev (NYSE:ABEV) from a buy rating to a neutral rating in a report released on Friday, Marketbeat reports.

Separately, StockNews.com began coverage on Ambev in a research note on Saturday, January 11th. They issued a “buy” rating on the stock. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $2.70.

Ambev Price Performance

ABEV stock opened at $1.79 on Friday. The firm has a 50 day simple moving average of $2.05 and a two-hundred day simple moving average of $2.19. The stock has a market cap of $28.12 billion, a PE ratio of 9.92, a P/E/G ratio of 5.23 and a beta of 1.05. Ambev has a one year low of $1.76 and a one year high of $2.72. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.20 and a quick ratio of 0.89.

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 given a dividend of $0.0414 per share. This represents a yield of 1.93%. The ex-dividend date was Monday, December 23rd. Ambev’s payout ratio is currently 38.89%.

Institutional Investors Weigh In On Ambev

A number of hedge funds have recently made changes to their positions in ABEV. American Century Companies Inc. raised its position in Ambev by 6.2% in the 2nd quarter. American Century Companies Inc. now owns 1,798,559 shares of the company’s stock worth $3,687,000 after purchasing an additional 104,651 shares during the period. Envestnet Asset Management Inc. increased its holdings in shares of Ambev by 3.5% in the second quarter. Envestnet Asset Management Inc. now owns 5,129,849 shares of the company’s stock worth $10,516,000 after buying an additional 175,485 shares during the period. Vanguard Personalized Indexing Management LLC lifted its stake in shares of Ambev by 40.1% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 155,975 shares of the company’s stock valued at $318,000 after acquiring an additional 44,645 shares during the last quarter. XTX Topco Ltd purchased a new stake in Ambev during the 2nd quarter valued at about $606,000. Finally, Pacer Advisors Inc. grew its position in Ambev by 53.1% during the 2nd quarter. Pacer Advisors Inc. now owns 909,529 shares of the company’s stock worth $1,865,000 after acquiring an additional 315,640 shares during the last quarter. 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.