Ambev (NYSE:ABEV) Shares Cross Above 200 Day Moving Average – Here’s Why
by Teresa Graham · The Cerbat GemAmbev S.A. (NYSE:ABEV – Get Free Report)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $2.90 and traded as high as $3.16. Ambev shares last traded at $3.1250, with a volume of 30,510,487 shares changing hands.
Analysts Set New Price Targets
A number of brokerages recently commented on ABEV. Wall Street Zen upgraded shares of Ambev from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Weiss Ratings lowered shares of Ambev from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 6th. UBS Group upped their target price on shares of Ambev from $2.65 to $2.90 and gave the stock a “sell” rating in a research note on Thursday, May 14th. Finally, Barclays lifted their price target on Ambev from $3.00 to $3.50 and gave the company an “equal weight” rating in a research note on Wednesday, May 6th. Five analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Ambev currently has an average rating of “Reduce” and an average target price of $3.09.
View Our Latest Stock Report on Ambev
Ambev Price Performance
The company has a current ratio of 1.03, a quick ratio of 0.78 and a debt-to-equity ratio of 0.02. The company has a 50 day simple moving average of $3.15 and a 200 day simple moving average of $2.90. The stock has a market cap of $49.26 billion, a P/E ratio of 16.45, a PEG ratio of 1.79 and a beta of 0.64.
Ambev (NYSE:ABEV – Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.05 earnings per share for the quarter, hitting the consensus estimate of $0.05. Ambev had a net margin of 17.69% and a return on equity of 16.63%. The company had revenue of $4.32 billion during the quarter, compared to analysts’ expectations of $4.38 billion. Sell-side analysts forecast that Ambev S.A. will post 0.21 earnings per share for the current fiscal year.
Ambev Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, January 11th. Investors of record on Wednesday, June 24th will be given a $0.0092 dividend. The ex-dividend date of this dividend is Wednesday, June 24th. This represents a $0.04 dividend on an annualized basis and a yield of 1.2%. Ambev’s dividend payout ratio (DPR) is 57.89%.
Insider Buying and Selling at Ambev
In other Ambev news, insider De Lacerda Eduardo Cavalcanti sold 152,386 shares of Ambev stock in a transaction on Friday, March 27th. The shares were sold at an average price of $2.85, for a total value of $434,300.10. Following the sale, the insider directly owned 223,340 shares in the company, valued at approximately $636,519. The trade was a 40.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paulo Andre Zagman sold 136,250 shares of the business’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $3.41, for a total transaction of $464,612.50. Following the sale, the insider directly owned 230,535 shares in the company, valued at $786,124.35. This trade represents a 37.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of the stock. Morgan Stanley grew its stake in Ambev by 291.2% in the fourth quarter. Morgan Stanley now owns 45,462,628 shares of the company’s stock valued at $112,293,000 after purchasing an additional 33,842,540 shares in the last quarter. GQG Partners LLC grew its stake in shares of Ambev by 9.1% in the fourth quarter. GQG Partners LLC now owns 172,969,655 shares of the company’s stock valued at $427,235,000 after buying an additional 14,468,963 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Ambev by 248.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 13,135,697 shares of the company’s stock worth $32,445,000 after buying an additional 9,361,815 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in Ambev by 74.8% during the second 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 last quarter. Finally, DJE Kapital AG bought a new stake in Ambev during the first quarter worth $14,778,000. 8.13% of the stock is owned by institutional investors and hedge funds.
About Ambev
Ambev (NYSE: ABEV) is a Brazilian-based beverage company that produces, distributes and markets a broad portfolio of alcoholic and non-alcoholic drinks. The company’s core business centers on brewing and selling beer, alongside a range of soft drinks, bottled water, energy drinks and other malt-based beverages. Headquartered in São Paulo, Ambev operates an integrated value chain that covers manufacturing, packaging, logistics and commercial sales to retail, on-premise and institutional customers.
The company traces its origins to the 1999 merger of two historic Brazilian breweries, and later became part of the broader global brewing group through subsequent industry consolidations.