Ambev (NYSE:ABEV) Hits New 12-Month Low – Here’s Why

Ambev S.A. (NYSE:ABEV) reached a new 52-week low during trading on Tuesday . The stock traded as low as $1.88 and last traded at $1.90, with a volume of 69587984 shares traded. The stock had previously closed at $2.06.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on shares of Ambev in a research note on Tuesday. They issued a “buy” rating on the stock.

Ambev Stock Performance

The stock has a fifty day moving average of $2.20 and a 200-day moving average of $2.22. The company has a market cap of $29.93 billion, a PE ratio of 10.56, a PEG 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 Cuts Dividend

The business also recently declared an annual dividend, which will be paid on Thursday, January 9th. Stockholders of record on Monday, December 23rd will be issued a $0.0414 dividend. This represents a dividend yield of 1.93%. The ex-dividend date is Monday, December 23rd. Ambev’s payout ratio is presently 38.89%.

Institutional Investors Weigh In On Ambev

Several large investors have recently added to or reduced their stakes in ABEV. MCIA Inc bought a new position in shares of Ambev during the 3rd quarter worth $25,000. HTLF Bank bought a new position in Ambev during the 3rd quarter worth about $26,000. Wealthstream Advisors Inc. purchased a new position in Ambev during the 3rd quarter valued at about $29,000. Riversedge Advisors LLC bought a new stake in shares of Ambev in the 3rd quarter valued at about $31,000. Finally, Foster Group Inc. purchased a new stake in shares of Ambev in the 3rd quarter worth approximately $33,000. 8.13% of the stock is owned by hedge funds and other institutional investors.

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.