Shares of Ambev S.A. American Depositary Shares (Each representing 1) (NYSE:ABEV) traded today at $3.33, eclipsing its 52-week high. Approximately 7 million shares have changed hands today, as compared to an average 30-day volume of 19.7 million shares.
Over the past year, Ambev S.A. American Depositary Shares (Each representing 1) has traded in a range of $1.90 to $3.33 and is now at $3.31, 74% above that low.
Based on a current price of $3.31, Ambev S.A. American Depositary Shares (Each representing 1) is currently 11.5% above its average consensus analyst price target of $2.93.
Ambev is the largest brewer in Latin America by volume and the fourth-largest beer producer in the world. It produces, distributes, and sells beer and PepsiCo products in Brazil and other Latin American countries. It also owns Argentina’s largest brewer, Quinsa. Ambev was formed in 1999 through the merger of Brazil’s two largest beverage firms, Brahma and Antarctica. In 2004, Ambev combined with Canadian brewer Labatt, giving Interbrew (now Anheuser-Busch InBev) a controlling interest.
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