Ambev S.A. (ABEV) Sets New 12-Month High at $6.73

Shares of Ambev S.A. (NYSE:ABEV) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $6.73 and last traded at $6.69, with a volume of 21,024,288 shares changing hands. The stock had previously closed at $6.48.

Several analysts have recently issued reports on the company. Barclays PLC restated a “hold” rating on shares of Ambev in a research report on Sunday, July 30th. Credit Suisse Group upgraded Ambev from a “neutral” rating to an “outperform” rating in a research report on Tuesday. Finally, Zacks Investment Research upgraded Ambev from a “sell” rating to a “hold” rating in a research report on Thursday, June 15th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $6.10.

The company has a 50-day moving average price of $6.18 and a 200-day moving average price of $5.80. The stock has a market cap of $105.32 billion, a P/E ratio of 28.054 and a beta of 0.66.

Ambev (NYSE:ABEV) last released its quarterly earnings data on Thursday, July 27th. The company reported $0.04 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.04. The firm had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.33 billion. Ambev had a return on equity of 23.24% and a net margin of 27.14%. Analysts anticipate that Ambev S.A. will post $0.23 earnings per share for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wedbush Securities Inc. boosted its position in Ambev by 2.2% during the first quarter. Wedbush Securities Inc. now owns 17,365 shares of the company’s stock valued at $100,000 after purchasing an additional 369 shares during the last quarter. Verition Fund Management LLC acquired a new stake in shares of Ambev in the second quarter worth about $111,000. King Luther Capital Management Corp acquired a new stake in shares of Ambev in the first quarter worth about $121,000. Stephens Inc. AR acquired a new stake in shares of Ambev in the second quarter worth about $132,000. Finally, FFT Wealth Management LLC lifted its position in shares of Ambev by 84.7% in the first quarter. FFT Wealth Management LLC now owns 23,489 shares of the company’s stock worth $135,000 after buying an additional 10,771 shares during the last quarter. 7.29% of the stock is owned by hedge funds and other institutional investors.

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Ambev Company Profile

Ambev SA, formerly Inbev Participacoes Societarias SA, is a Brazil-based company engaged in the brewing sector. The Company produces and sells beer, carbonated soft drinks (CSDs) and other non-alcoholic and non-carbonated (NANC) beverages across the Americas. The Company’s activities are divided into three segments: Latin America North, including sell of beer, CSD and NANC drinks in Brazil, as well as operations in Dominican Republic, Saint Vincent, Antigua, Dominica, Guatemala, El Salvador, Nicaragua and Cuba; Latin America South, distributing products in Argentina, Bolivia, Paraguay, Uruguay, Chile, Ecuador, Peru and Colombia, and Canada, represented by Labatt’s operations, which comprises sales in Canada.

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