Ambev S.A. (NYSE:ABEV) Short Interest Down 59.8% in December

Ambev S.A. (NYSE:ABEV) was the recipient of a significant decline in short interest during the month of December. As of December 31st, there was short interest totalling 19,270,000 shares, a decline of 59.8% from the December 15th total of 47,940,000 shares. Based on an average daily trading volume, of 28,460,000 shares, the days-to-cover ratio is presently 0.7 days. Approximately 0.1% of the shares of the company are sold short.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on Ambev in a research note on Saturday. They issued a “buy” rating on the stock.

Ambev Stock Performance

ABEV traded up $0.02 on Tuesday, reaching $1.81. The company had a trading volume of 39,167,531 shares, compared to its average volume of 51,988,758. The stock has a market cap of $28.44 billion, a P/E ratio of 10.03, a P/E/G ratio of 6.67 and a beta of 1.05. 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 has a fifty-two week low of $1.76 and a fifty-two week high of $2.75. The company’s fifty day moving average is $2.07 and its 200 day moving average is $2.19.

Ambev Cuts Dividend

The company also recently announced an annual dividend, which was paid on Thursday, January 9th. Stockholders of record on Monday, December 23rd were given a $0.0414 dividend. This represents a dividend yield of 1.93%. The ex-dividend date of this dividend was Monday, December 23rd. Ambev’s payout ratio is 33.33%.

Hedge Funds Weigh In On Ambev

Large investors have recently made changes to their positions in the company. Renaissance Technologies LLC grew its holdings in Ambev by 27.7% in the 2nd quarter. Renaissance Technologies LLC now owns 34,133,000 shares of the company’s stock valued at $69,973,000 after buying an additional 7,412,395 shares in the last quarter. Marshall Wace LLP boosted its position in shares of Ambev by 324.8% in the second quarter. Marshall Wace LLP now owns 8,324,037 shares of the company’s stock valued at $17,064,000 after acquiring an additional 6,364,592 shares during the period. Kiltearn Partners LLP grew its stake in shares of Ambev by 43.3% in the second quarter. Kiltearn Partners LLP now owns 14,575,900 shares of the company’s stock valued at $29,881,000 after acquiring an additional 4,407,800 shares in the last quarter. Sagil Capital LLP bought a new position in Ambev during the second quarter worth about $8,762,000. Finally, Private Management Group Inc. increased its position in Ambev by 43.8% during the third quarter. Private Management Group Inc. now owns 13,428,352 shares of the company’s stock worth $32,765,000 after acquiring an additional 4,087,442 shares during the period. Institutional investors 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.