Ambev (NYSE:ABEV) Hits New 1-Year Low – Time to Sell?

Ambev S.A. (NYSE:ABEV) shares reached a new 52-week low on Wednesday . The stock traded as low as $2.01 and last traded at $2.02, with a volume of 29282479 shares. The stock had previously closed at $2.12.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on shares of Ambev in a research note on Friday, October 18th. They set a “buy” rating on the stock.

Ambev Trading Down 4.7 %

The firm’s 50-day simple moving average is $2.23 and its 200 day simple moving average is $2.23. The firm has a market capitalization of $31.82 billion, a price-to-earnings ratio of 11.22, 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 current ratio of 1.20 and a quick ratio of 0.89.

Ambev Cuts Dividend

The firm also recently disclosed an annual dividend, which will be paid on Thursday, January 9th. Investors of record on Monday, December 23rd will be given a dividend of $0.0414 per share. The ex-dividend date of this dividend is Monday, December 23rd. This represents a dividend yield of 1.93%. Ambev’s dividend payout ratio is currently 66.67%.

Institutional Investors Weigh In On Ambev

A number of hedge funds have recently made changes to their positions in the stock. Private Management Group Inc. acquired a new position in Ambev during the 2nd quarter worth approximately $19,149,000. Allspring Global Investments Holdings LLC grew its stake in shares of Ambev by 323.2% during the second quarter. Allspring Global Investments Holdings LLC now owns 9,913,282 shares of the company’s stock worth $20,322,000 after buying an additional 7,570,842 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Ambev by 27.7% during the second quarter. Renaissance Technologies LLC now owns 34,133,000 shares of the company’s stock worth $69,973,000 after buying an additional 7,412,395 shares in the last quarter. Marshall Wace LLP lifted its stake in shares of Ambev by 324.8% in the 2nd 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 last quarter. Finally, Kiltearn Partners LLP boosted its holdings in shares of Ambev by 43.3% during the 2nd 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. 8.13% of the stock is currently owned by institutional investors and hedge funds.

About Ambev

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.