Ambev (NYSE:ABEV) Shares Up 5.8% Following Dividend Announcement

Shares of Ambev S.A. (NYSE:ABEV) shot up 5.8% during trading on Thursday after the company announced a dividend. The company traded as high as $2.13 and last traded at $2.11. 32,185,018 shares traded hands during trading, a decline of 18% from the average session volume of 39,059,348 shares. The stock had previously closed at $1.99.

The newly announced dividend which will be paid on Monday, April 14th. Shareholders of record on Tuesday, March 18th will be given a $0.0221 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $0.09 annualized dividend and a yield of 4.27%. Ambev’s dividend payout ratio (DPR) is 35.29%.

Analyst Ratings Changes

Several research firms have issued reports on ABEV. StockNews.com began coverage on shares of Ambev in a research report on Monday, January 27th. They issued a “buy” rating on the stock. Barclays decreased their price target on shares of Ambev from $2.50 to $2.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 21st. Bank of America lowered shares of Ambev from a “buy” rating to a “neutral” rating in a research note on Friday, January 17th. Finally, Citigroup reaffirmed a “neutral” rating on shares of Ambev in a research note on Wednesday, January 22nd. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Ambev has a consensus rating of “Hold” and a consensus price target of $2.45.

Ambev Stock Down 2.1 %

The business’s 50 day simple moving average is $1.86 and its 200-day simple moving average is $2.14. The company has a market cap of $32.53 billion, a price-to-earnings ratio of 11.47, a price-to-earnings-growth ratio of 5.80 and a beta of 1.04. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.89 and a current ratio of 1.20.

Ambev (NYSE:ABEV) last issued its earnings results on Wednesday, February 26th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The company had revenue of $4.63 billion for the quarter, compared to analyst estimates of $22.42 billion. Ambev had a net margin of 17.02% and a return on equity of 16.12%. Sell-side analysts expect that Ambev S.A. will post 0.18 earnings per share for the current year.

Institutional Investors Weigh In On Ambev

Institutional investors and hedge funds have recently modified their holdings of the business. MCIA Inc acquired a new stake in shares of Ambev in the 3rd quarter valued at $25,000. Wealthstream Advisors Inc. bought a new position in Ambev in the 3rd quarter worth $29,000. BSW Wealth Partners bought a new position in Ambev in the 3rd quarter worth $33,000. Insight Inv LLC bought a new position in Ambev in the 4th quarter worth $25,000. Finally, Private Advisor Group LLC bought a new position in Ambev in the 3rd quarter worth $34,000. Institutional investors and hedge funds own 8.13% of the company’s stock.

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.