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28200.0 | 2022-08-30 00:00:00 UTC | Quant Ratings Updated on 62 Stocks | ABEV | https://www.nasdaq.com/articles/quant-ratings-updated-on-62-stocks-0 | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Wall Street has been in a bad mood since Federal Reserve Chairman Jerome Powell’s hawkish speech during the annual Economic Policy Symposium in Jackson Hole, Wyoming, last Friday. Stocks were hit hard, with the broader market ending Friday lower and wiping out its gains for August.
Monday was another weak day for Wall Street, and while stocks did open higher today, they ultimately ended the day lower after the market sold off following the spike in the 10-year Treasury yield.
While I know the recent gyrations have been difficult to stomach, that doesn’t mean you should sit on the sidelines until the market rebounds. The reality is there are still plenty of investment opportunities out there – it’s just a matter of knowing where to look.
Right now, you want to be looking at companies with superior fundamentals, i.e., strong earnings and sales growth, that are also experiencing persistent institutional buying pressure. This is why Portfolio Grader is such a handy tool for stock analysis to keep in your back pocket because this is exactly what Portfolio Grader tracks.
So, with that in mind, after taking a close look at the latest data on institutional buying pressure and each company’s fundamental health, I decided to revise my Portfolio Grader recommendations for 62 big blue chip stocks. I’ve included the first 10 stocks that are considered Buys this week, but you can find the full list here. Chances are that you have at least one of these stocks in your portfolio, so you may want to give this list a skim and act accordingly.
TICKER COMPANY NAME TOTAL GRADE
ABEV Ambev SA Sponsored ADR B
BEKE KE Holdings, Inc. Sponsored ADR Class A B
CTXS Citrix Systems, Inc. B
DDOG Datadog Inc Class A B
EPAM EPAM Systems, Inc. B
IR Ingersoll Rand Inc. B
LCID Lucid Group, Inc. B
MDLZ Mondelez International, Inc. Class A B
MKC McCormick & Company, Incorporated B
MUFG Mitsubishi UFJ Financial Group, Inc. Sponsored ADR B
For the best stocks, consider my Growth Investor Buy Lists. They’re chock-full of fundamentally superior companies – they achieved 62.3% average annual sales growth and 455.7% average annual earnings growth in the second-quarter earnings season – so they should become go-to names as the stock market narrows and grows more fundamentally focused.
So, I encourage you to join me at Growth Investor. Once you sign up, you’ll have access to my latest new buys – four new food and energy-related stocks that are poised to prosper from the elevated energy and food prices – as well as my Top Stocks lists and much more.
Click here to become a member of Growth Investor today.
Sincerely,
Source: InvestorPlace unless otherwise noted
Louis Navellier
P.S. There is a great divide opening up in America – and investing in my Growth Investor stocks will help get you on the right side of it. On one side is a new aristocracy that’s amassing more wealth faster than any other group in American history. For people like me, the one percent, life has never been better, more prosperous.
On the other side, the opposite is happening. Wealth is flowing out of the pockets of ordinary Americans at an unprecedented rate.
What’s happening is only going to gather in strength over the coming decades. It certainly won’t weaken.
Few Americans even know that any of this is going on. I’ve never seen anyone from my side of the chasm step forward to explain any of these things.
It’s why I put together this video. In it, I’ll lay out exactly what is happening, including several key steps every American should take right now.
The Editor hereby discloses that as of the date of this email, the Editor, directly or indirectly, owns the following securities that are the subject of the commentary, analysis, opinions, advice, or recommendations in, or which are otherwise mentioned in, the essay set forth below:
Datadog Inc Class Am (DDOG), Mondelez International, Inc. Class A (MDLZ)
Louis Navellier, who has been called “one of the most important money managers of our time,” has broken the silence in this shocking “tell all” video… exposing one of the most shocking events in our country’s history… and the one move every American needs to make today.
The post Quant Ratings Updated on 62 Stocks appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | ABEV Ambev SA Sponsored ADR B BEKE KE Holdings, Inc. Right now, you want to be looking at companies with superior fundamentals, i.e., strong earnings and sales growth, that are also experiencing persistent institutional buying pressure. So, with that in mind, after taking a close look at the latest data on institutional buying pressure and each company’s fundamental health, I decided to revise my Portfolio Grader recommendations for 62 big blue chip stocks. | ABEV Ambev SA Sponsored ADR B BEKE KE Holdings, Inc. Monday was another weak day for Wall Street, and while stocks did open higher today, they ultimately ended the day lower after the market sold off following the spike in the 10-year Treasury yield. They’re chock-full of fundamentally superior companies – they achieved 62.3% average annual sales growth and 455.7% average annual earnings growth in the second-quarter earnings season – so they should become go-to names as the stock market narrows and grows more fundamentally focused. | ABEV Ambev SA Sponsored ADR B BEKE KE Holdings, Inc. They’re chock-full of fundamentally superior companies – they achieved 62.3% average annual sales growth and 455.7% average annual earnings growth in the second-quarter earnings season – so they should become go-to names as the stock market narrows and grows more fundamentally focused. Once you sign up, you’ll have access to my latest new buys – four new food and energy-related stocks that are poised to prosper from the elevated energy and food prices – as well as my Top Stocks lists and much more. | ABEV Ambev SA Sponsored ADR B BEKE KE Holdings, Inc. Sponsored ADR B For the best stocks, consider my Growth Investor Buy Lists. There is a great divide opening up in America – and investing in my Growth Investor stocks will help get you on the right side of it. |
28201.0 | 2022-08-19 00:00:00 UTC | Pre-market Movers: CGRN, BBBY, GNS, BILL, SST… | ABEV | https://www.nasdaq.com/articles/pre-market-movers%3A-cgrn-bbby-gns-bill-sst... | nan | nan | (RTTNews) - The following are some of the stocks making big moves in Friday's pre-market trading (as of 06.50 A.M. ET).
In the Green
Genius Group Limited (GNS) is up over 29% at $11.01 Bill.com Holdings, Inc. (BILL) is up over 20% at $179.55 System1, Inc. (SST) is up over 20% at $13.80 Iterum Therapeutics plc (ITRM) is up over 17% at $3.40 GigaCloud Technology Inc Class A Ordinary Shares (GCT) is up over 15% at $18.19 TDH Holdings, Inc. (PETZ) is up over 11% at $3.33 Weber Inc. (WEBR) is up over 7% at $10.79 Diana Shipping Inc. (DSX) is up over 5% at $5.94
In the Red
Capstone Green Energy Corporation (CGRN) is down over 46% at $2.09 Bed Bath & Beyond Inc. (BBBY) is down over 44% at $10.25 Accelerate Diagnostics, Inc. (AXDX) is down over 14% at $2.13 Second Sight Medical Products, Inc. (EYES) is down over 12% at $4.81 GameStop Corp. (GME) is down over 10% at $33.98 D-Wave Quantum Inc. (QBTS) is down over 10% at $9.05 MicroStrategy Incorporated (MSTR) is down over 8% at $297.28 AMTD Digital Inc. (HKD) is down over 7% at $176.05 Coinbase Global, Inc. (COIN) is down over 7% at $77.20 Ambev S.A. (ABEV) is down over 7% at $2.80 EnLink Midstream, LLC (ENLC) is down over 6% at $10.12 AMTD IDEA Group (AMTD) is down over 6% at $2.32 Big Lots, Inc. (BIG) is down over 5% at $24.97
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In the Green Genius Group Limited (GNS) is up over 29% at $11.01 Bill.com Holdings, Inc. (BILL) is up over 20% at $179.55 System1, Inc. (SST) is up over 20% at $13.80 Iterum Therapeutics plc (ITRM) is up over 17% at $3.40 GigaCloud Technology Inc Class A Ordinary Shares (GCT) is up over 15% at $18.19 TDH Holdings, Inc. (PETZ) is up over 11% at $3.33 Weber Inc. (WEBR) is up over 7% at $10.79 Diana Shipping Inc. (DSX) is up over 5% at $5.94 In the Red Capstone Green Energy Corporation (CGRN) is down over 46% at $2.09 Bed Bath & Beyond Inc. (BBBY) is down over 44% at $10.25 Accelerate Diagnostics, Inc. (AXDX) is down over 14% at $2.13 Second Sight Medical Products, Inc. (EYES) is down over 12% at $4.81 GameStop Corp. (GME) is down over 10% at $33.98 D-Wave Quantum Inc. (QBTS) is down over 10% at $9.05 MicroStrategy Incorporated (MSTR) is down over 8% at $297.28 AMTD Digital Inc. (HKD) is down over 7% at $176.05 Coinbase Global, Inc. (COIN) is down over 7% at $77.20 Ambev S.A. (ABEV) is down over 7% at $2.80 EnLink Midstream, LLC (ENLC) is down over 6% at $10.12 AMTD IDEA Group (AMTD) is down over 6% at $2.32 Big Lots, Inc. (BIG) is down over 5% at $24.97 The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. (RTTNews) - The following are some of the stocks making big moves in Friday's pre-market trading (as of 06.50 A.M. ET). | In the Green Genius Group Limited (GNS) is up over 29% at $11.01 Bill.com Holdings, Inc. (BILL) is up over 20% at $179.55 System1, Inc. (SST) is up over 20% at $13.80 Iterum Therapeutics plc (ITRM) is up over 17% at $3.40 GigaCloud Technology Inc Class A Ordinary Shares (GCT) is up over 15% at $18.19 TDH Holdings, Inc. (PETZ) is up over 11% at $3.33 Weber Inc. (WEBR) is up over 7% at $10.79 Diana Shipping Inc. (DSX) is up over 5% at $5.94 In the Red Capstone Green Energy Corporation (CGRN) is down over 46% at $2.09 Bed Bath & Beyond Inc. (BBBY) is down over 44% at $10.25 Accelerate Diagnostics, Inc. (AXDX) is down over 14% at $2.13 Second Sight Medical Products, Inc. (EYES) is down over 12% at $4.81 GameStop Corp. (GME) is down over 10% at $33.98 D-Wave Quantum Inc. (QBTS) is down over 10% at $9.05 MicroStrategy Incorporated (MSTR) is down over 8% at $297.28 AMTD Digital Inc. (HKD) is down over 7% at $176.05 Coinbase Global, Inc. (COIN) is down over 7% at $77.20 Ambev S.A. (ABEV) is down over 7% at $2.80 EnLink Midstream, LLC (ENLC) is down over 6% at $10.12 AMTD IDEA Group (AMTD) is down over 6% at $2.32 Big Lots, Inc. (BIG) is down over 5% at $24.97 The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. (RTTNews) - The following are some of the stocks making big moves in Friday's pre-market trading (as of 06.50 A.M. ET). | In the Green Genius Group Limited (GNS) is up over 29% at $11.01 Bill.com Holdings, Inc. (BILL) is up over 20% at $179.55 System1, Inc. (SST) is up over 20% at $13.80 Iterum Therapeutics plc (ITRM) is up over 17% at $3.40 GigaCloud Technology Inc Class A Ordinary Shares (GCT) is up over 15% at $18.19 TDH Holdings, Inc. (PETZ) is up over 11% at $3.33 Weber Inc. (WEBR) is up over 7% at $10.79 Diana Shipping Inc. (DSX) is up over 5% at $5.94 In the Red Capstone Green Energy Corporation (CGRN) is down over 46% at $2.09 Bed Bath & Beyond Inc. (BBBY) is down over 44% at $10.25 Accelerate Diagnostics, Inc. (AXDX) is down over 14% at $2.13 Second Sight Medical Products, Inc. (EYES) is down over 12% at $4.81 GameStop Corp. (GME) is down over 10% at $33.98 D-Wave Quantum Inc. (QBTS) is down over 10% at $9.05 MicroStrategy Incorporated (MSTR) is down over 8% at $297.28 AMTD Digital Inc. (HKD) is down over 7% at $176.05 Coinbase Global, Inc. (COIN) is down over 7% at $77.20 Ambev S.A. (ABEV) is down over 7% at $2.80 EnLink Midstream, LLC (ENLC) is down over 6% at $10.12 AMTD IDEA Group (AMTD) is down over 6% at $2.32 Big Lots, Inc. (BIG) is down over 5% at $24.97 The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. (RTTNews) - The following are some of the stocks making big moves in Friday's pre-market trading (as of 06.50 A.M. ET). | In the Green Genius Group Limited (GNS) is up over 29% at $11.01 Bill.com Holdings, Inc. (BILL) is up over 20% at $179.55 System1, Inc. (SST) is up over 20% at $13.80 Iterum Therapeutics plc (ITRM) is up over 17% at $3.40 GigaCloud Technology Inc Class A Ordinary Shares (GCT) is up over 15% at $18.19 TDH Holdings, Inc. (PETZ) is up over 11% at $3.33 Weber Inc. (WEBR) is up over 7% at $10.79 Diana Shipping Inc. (DSX) is up over 5% at $5.94 In the Red Capstone Green Energy Corporation (CGRN) is down over 46% at $2.09 Bed Bath & Beyond Inc. (BBBY) is down over 44% at $10.25 Accelerate Diagnostics, Inc. (AXDX) is down over 14% at $2.13 Second Sight Medical Products, Inc. (EYES) is down over 12% at $4.81 GameStop Corp. (GME) is down over 10% at $33.98 D-Wave Quantum Inc. (QBTS) is down over 10% at $9.05 MicroStrategy Incorporated (MSTR) is down over 8% at $297.28 AMTD Digital Inc. (HKD) is down over 7% at $176.05 Coinbase Global, Inc. (COIN) is down over 7% at $77.20 Ambev S.A. (ABEV) is down over 7% at $2.80 EnLink Midstream, LLC (ENLC) is down over 6% at $10.12 AMTD IDEA Group (AMTD) is down over 6% at $2.32 Big Lots, Inc. (BIG) is down over 5% at $24.97 The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. (RTTNews) - The following are some of the stocks making big moves in Friday's pre-market trading (as of 06.50 A.M. ET). |
28202.0 | 2022-08-15 00:00:00 UTC | 7 Cheap Dividend Stocks Under $5 | ABEV | https://www.nasdaq.com/articles/7-cheap-dividend-stocks-under-%245 | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
When you think of penny stocks, you’re probably not thinking of them as potential cheap dividend stocks under $5. Instead, you’re contemplating the speculative nature of these investments and whether they have moonshot potential.
When investors buy penny stocks, earning dividend income is probably the last thing on their minds. Yet there are a few cheap dividend names trading under $5 that you could add to your portfolio.
For the most part, penny stocks are viewed as high-risk, high-reward investments. However, companies with stable businesses and a history of generating profits typically undergo fewer wild price swings, and sometimes their share prices can fall into penny-stock territory. Such firms are more likely to pay dividends than typical penny stocks.
This article identifies seven cheap stocks with dividends that are trading for less than $5 per share.
ABEV Ambev SA $2.99
KGC Kinross Gold $3.53
PBI Pitney Bowes $3.42
GORO Gold Resource Corp $1.83
LYG Lloyds Banking Group $2,21
MFG Mizuho Financial $2.41
BBD Banco Bradesco $3.76
Ambev SA (ABEV)
Source: rafapress / Shutterstock.com
Ambev SA (NYSE:ABEV) is the largest brewer that’s based in the Latin American region. Anheuser-Busch InBev (NYSE:BUD), the world’s largest brewing company, owns around 62% of ABEV stock. Consequently, the Brazil-based brewer is essentially a business unit of Anheuser-Busch InBev.
Over the past couple of years, both companies have struggled due to the pandemic, which slowed their businesses. However, Ambev is benefitting from re-opening tailwinds and appears to be back on track.
Indeed, in the second quarter, its revenues climbed 14% year-over-year, and its “FIFA World Cup” launch could be a strong, positive catalyst for the company’s sales. Meanwhile, ABEV stock trades at a reasonable forward price-earnings ratio of 11.8 and has a dividend yield of 3.6%.
Kinross Gold (KGC)
Source: Shutterstock
Kinross Gold (NYSE:KGC) is a Canadian gold miner that operates several mines in Chile, Brazil, the U.S., and Mauritania. It has operated a relatively stable business with single-digit revenue growth and annual EBITDA margin increases of over 20% in the past five years. On top of that, its dividend yield is an impressive 3.3%. However, due to the volatility of gold prices, its stock continues to test new lows.
Its recently released Q2 earnings showed that it produced a remarkable 557,500 gold-equivalent ounces last quarter (GEO), representing a 4% increase versus the same period a year earlier. Moreover, its revenues increased by an impressive 16% YOY.
However, these gains were offset by a 17% YOY increase in the company’s costs. Kinross should benefit from the higher grades of its gold in the latter half of the year. The miner should also get a lift from higher production at lower costs at its two largest mines.
Pitney Bowes (PBI)
Source: JHVEPhoto / Shutterstock.com
Postal delivery solutions provider Pitney Bowes (NYSE:PBI) is a treat for income investors. Its stock trades at less than 0.5 times analysts’ average forward sales estimates for the company, while its dividend yield is an incredible 5.8%.
The weak performance of its stock has plenty to do with concerns surrounding the demand for mailing services. However, its overall fundamentals, featuring robust recurring profitability from its eCommerce solutions segment, are positive.
Pitney’s ecommerce business has grown rapidly over the past few years. Moreover, the unit posted a profit in Q1 before entering the red again in Q2.
However, the segment continues to expand rapidly and could be a major, positive catalyst for the stock. Additionally, Pitney’s legacy business, Presort Services, continues to prove the naysayers wrong by posting relatively impressive quarterly results.
Gold Resource Corp. (GORO)
Source: Shutterstock
Gold Resource Corp. (NYSEAMERICAN:GORO) had to close down its operations during the pandemic, significantly impacting its business. However, the huge stimulus programs from the government and the subsequent increases of gold prices helped the company bounce back. Gold Resource produces all its gold from a single mine called Don David Gold. Moreover, the company is in the process of building another mine called Back Forty, and that project is advancing smoothly.
The gold miner’s recent results haven’t been too encouraging, but its margins are impeccable. Its gross profit and net profit margins are growing at double-digit-percentage rates, while it has an excellent cash position and zero long-term debt.
More importantly for income investors, its dividend payouts have grown over 14.5% in the past five years.
Banco Bradesco (BBD)
Source: Shutterstock
As inflation increases, bank stocks are where to be
Banco Bradesco (NYSE:BBD) is among the largest banks operating in Brazil. It stood out from its peers when it comes to gaining traction with small and medium-sized businesses and having lower non-performing loans (NPLs). Moreover, its businesses in other countries have helped it sustain its cash flows and dividend payouts.
Banco Bradesco’s margins will likely increase significantly as interest rates rise. However, due to the challenging macroeconomic outlook, loan growth in the country is only expected to reach 7.6%, down from 8.9% during the previous year.
Despite the headwinds, Banco has successfully expanded its corporate and consumer portfolios lately. Its financial highlights during Q2 were mighty impressive, with double-digit-percentage improvements in its fee income, recurring net income, and loan portfolio, along with sizeable reductions in its operating expenses. Therefore, it’s unlikely to cut its dividend anytime soon.
Lloyds Banking Group (LYG)
Source: Tomasz Bidermann / Shutterstock.com
Lloyds Banking Group (NYSE:LYG), the top retail banking in the UK, primarily focuses on Britain.
Lloyds has been one of the more consistent performers in its sector, with its return on equity comfortably exceeding the 10% mark in the past several years.
Due to its excellent execution and its effective operational management, it has comfortably exceeded analysts’ average estimates in nine of the last ten quarters. Moreover, it has had a strong track record of rewarding its shareholders through dividends and buybacks, and the name is currently yielding over 3.4%.
In light of the robust interest rate increases in the UK, Lloyd’s is likely to benefit from increased interest income. In fact, its net interest income for the first half of 2022 came in at £6.14 billion, representing a 13.3% increase versus the same period a year earlier.
Based on its strong performance during the first half, the bank has increased its 2022 guidance, and expects a tremendous 13% return on its tangible equity.
Mizuho Financial Group (MFG)
Source: Dragana Gordic/shutterstock.com
Mizuho Financial Group (NYSE:MFG) is a Japan-based bank that is a deep value stock, trading under 7.5 times its forward earnings.
Moreover, its forward dividend yield is 5.7%, higher than its five-year average of 4.35%. The bank, however, has performed uninspiringly in recent years, held down by the stability of Japan’s interest rates.
Even during the current era of elevated inflation, the country’s central bank isn’t looking to raise interest rates. Therefore, it’s tough to see how Mizuho’s net interest income can climb.
Nevertheless, these concerns are all reflected in its stock price, and the bank’s foray into the U.S. market could prove to be a game changer for it down the road. Indeed, interest rates are climbing in the U.S., and moving into that market could help Mizuho increase its sales considerably.
On the date of publication, Muslim Farooque did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines
Muslim Farooque is a keen investor and an optimist at heart. A life-long gamer and tech enthusiast, he has a particular affinity for analyzing technology stocks. Muslim holds a bachelor’s of science degree in applied accounting from Oxford Brookes University.
The post 7 Cheap Dividend Stocks Under $5 appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | ABEV Ambev SA $2.99 KGC Kinross Gold $3.53 PBI Pitney Bowes $3.42 GORO Gold Resource Corp $1.83 LYG Lloyds Banking Group $2,21 MFG Mizuho Financial $2.41 BBD Banco Bradesco $3.76 Ambev SA (ABEV) Source: rafapress / Shutterstock.com Ambev SA (NYSE:ABEV) is the largest brewer that’s based in the Latin American region. Anheuser-Busch InBev (NYSE:BUD), the world’s largest brewing company, owns around 62% of ABEV stock. Meanwhile, ABEV stock trades at a reasonable forward price-earnings ratio of 11.8 and has a dividend yield of 3.6%. | ABEV Ambev SA $2.99 KGC Kinross Gold $3.53 PBI Pitney Bowes $3.42 GORO Gold Resource Corp $1.83 LYG Lloyds Banking Group $2,21 MFG Mizuho Financial $2.41 BBD Banco Bradesco $3.76 Ambev SA (ABEV) Source: rafapress / Shutterstock.com Ambev SA (NYSE:ABEV) is the largest brewer that’s based in the Latin American region. Anheuser-Busch InBev (NYSE:BUD), the world’s largest brewing company, owns around 62% of ABEV stock. Meanwhile, ABEV stock trades at a reasonable forward price-earnings ratio of 11.8 and has a dividend yield of 3.6%. | ABEV Ambev SA $2.99 KGC Kinross Gold $3.53 PBI Pitney Bowes $3.42 GORO Gold Resource Corp $1.83 LYG Lloyds Banking Group $2,21 MFG Mizuho Financial $2.41 BBD Banco Bradesco $3.76 Ambev SA (ABEV) Source: rafapress / Shutterstock.com Ambev SA (NYSE:ABEV) is the largest brewer that’s based in the Latin American region. Anheuser-Busch InBev (NYSE:BUD), the world’s largest brewing company, owns around 62% of ABEV stock. Meanwhile, ABEV stock trades at a reasonable forward price-earnings ratio of 11.8 and has a dividend yield of 3.6%. | ABEV Ambev SA $2.99 KGC Kinross Gold $3.53 PBI Pitney Bowes $3.42 GORO Gold Resource Corp $1.83 LYG Lloyds Banking Group $2,21 MFG Mizuho Financial $2.41 BBD Banco Bradesco $3.76 Ambev SA (ABEV) Source: rafapress / Shutterstock.com Ambev SA (NYSE:ABEV) is the largest brewer that’s based in the Latin American region. Anheuser-Busch InBev (NYSE:BUD), the world’s largest brewing company, owns around 62% of ABEV stock. Meanwhile, ABEV stock trades at a reasonable forward price-earnings ratio of 11.8 and has a dividend yield of 3.6%. |
28203.0 | 2022-08-08 00:00:00 UTC | 5 Cheap Dividend Stocks Under $5 | ABEV | https://www.nasdaq.com/articles/5-cheap-dividend-stocks-under-%245 | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
When it comes to penny stocks, the words “speculative” and “risky” are likely what first come to mind. Most stocks trading at single-digit prices, whether growth stocks or value stocks, have a high-risk, high-potential-return vibe. Yet, while these types of plays make up the bulk of this category, there are a few cheap dividend stocks under $5 per share.
Depending on your investment objectives, these may make for better additions to your portfolio than your standard “moonshot” penny stock. Why? Their high yields could help these investments deliver steady returns.
Additionally, they may have less downside risk than non-dividend-paying penny stocks. Consistent dividends are a sign of consistent profitability. And a stable underlying business could mean their stocks are subject to fewer wild price swings.
That’s the case here with each stock listed. These five cheap dividend stocks under $5 per share offer worthwhile dividend payouts and could experience gradual price appreciation, either due to a market re-rating or from catalysts playing out. Consider each one a potential buy at current price levels.
ABEV Ambev $2.85
KGC Kinross Gold $3.47
MFG Mizuho Financial Group $2.37
PBI Pitney Bowes $3.27
TEF Telefonica SA $4.38
Ambev SA (ABEV)
Source: rmcarvalhobsb / Shutterstock.com
Ambev SA (NYSE:ABEV) is a Brazil-based brewer that operates in Latin America and Canada. It is majority owned by Anheuser-Busch InBev (NYSE:BUD), which owns approximately 62% of the company’s stock. You may be wondering why this publicly traded subsidiary is a better buy than its parent, especially as both names trade at similar forward earnings multiples (around 17x).
Both are also trying to turn themselves around after experiencing sluggish growth and pandemic headwinds. Yet, with its much higher dividend yield (3.9% for ABEV versus BUD’s 1% yield), ABEV stock may be the better buy. Investors can get paid while they wait for a turnaround.
That’s not all. While shares are down less than the broader market in the past year, they are down substantially over the past five years. Therefore, it’s not outside the realm of possibility that Anheuser-Busch Inbev eventually buys out minority shareholders at a premium to the current trading price.
Kinross Gold (KGC)
Source: T. Schneider / Shutterstock.com
Canada-based Kinross Gold (NYSE:KGC) operates gold mines around the world. This has been a tough year for shares, which are down around 40%.
The big jump in gold prices earlier this year due to Russia’s invasion of Ukraine only gave the stock a brief boost, as the miner was forced to sell its Russian assets due to sanctions. Furthermore, as the U.S. Federal Reserve’s rate hikes strengthened the U.S. dollar, gold has pulled back.
So, with these troubles, why buy Kinross?
It currently sports a solid 3.6% forward yield. Shares also trade at a heavily discounted valuation with a forward multiple of just 10x. The stock could make a big recovery if gold prices bounce back on a possible course reversal by the Fed, which may move to cut interest rates next year.
Mizuho Financial Group (MFG)
Source: TK Kurikawa / Shutterstock
Mizuho Financial Group (NYSE:MFG) is another deep value stock trading at penny stock levels. At current prices, the Japan-based bank holding company trades for less than 7x forward earnings. It also sports a forward dividend yield of 5.9%.
With this, it may seem like there’s a catch. MFG stock must be cheap for a reason, and not a good one, right?
Sure, its mixed operating performance in recent years has resulted in shares delivering lackluster total returns. Given that Japan’s central bank isn’t raising interest rates, it’s questionable whether this bank will see its net interest income move higher.
Still, these concerns may be more than accounted for in the stock’s valuation. Plus, as InvestorPlace’s Stavros Georgiadis discussed in May, Mizuho is looking to expand its U.S. business. Moving further into capital markets whose central banks are raising rates could help drive earnings growth.
Pitney Bowes (PBI)
Source: JHVEPhoto / Shutterstock.com
Recently, I argued that Pitney Bowes (NYSE:PBI) is one of the penny stocks to buy before the bull market returns. The office equipment provider’s high forward dividend yield of 6.2% was a big reason for this. It’s also why I consider PBI stock one of the best cheap dividend stocks under $5 per share.
At first glance, it may seem like the risk of a dividend cut is high. An economic downturn could certainly hurt demand for Pitney Bowes’ offerings. Yet, despite its reputation as an old-school maker of equipment like postage meters, that doesn’t mean the company is doomed to go the way of the dodo.
Pitney Bowes’ move into digital shipping and e-commerce offerings complements its legacy business. It may also help the company deliver stronger results when today’s external headwinds pass. This, in turn, could help support its current payout and potentially fuel a comeback in PBI shares.
Telefonica SA (TEF)
Source: viewimage / Shutterstock.com
Like many European-based telecom firms, Telefonica SA (NYSE:TEF) isn’t just limited to its home market of Spain. It owns telecom assets across Europe and Latin America and has been shifting its focus toward expanding its European presence in recent years.
Like several other foreign telecom stocks, its U.S.-listed shares offer a high yield. TEF stock sports a forward yield of 9.1%. Such a yield could look juicy to some, but others may wonder if it’s a red flag signaling a possible yield trap.
Upon closer look, I do not believe investors are taking on the high risk of lackluster returns tomorrow in the pursuit of high yield today with TEF stock. Earnings are expected to stay steady in the coming year. Therefore, its current payout is likely secure.
In time, market sentiment about Telefonica’s dividend security could improve, enabling shares to make a permanent move out of penny stock territory.
On the date of publication, Thomas Niel did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
The post 5 Cheap Dividend Stocks Under $5 appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | ABEV Ambev $2.85 KGC Kinross Gold $3.47 MFG Mizuho Financial Group $2.37 PBI Pitney Bowes $3.27 TEF Telefonica SA $4.38 Ambev SA (ABEV) Source: rmcarvalhobsb / Shutterstock.com Ambev SA (NYSE:ABEV) is a Brazil-based brewer that operates in Latin America and Canada. Yet, with its much higher dividend yield (3.9% for ABEV versus BUD’s 1% yield), ABEV stock may be the better buy. The stock could make a big recovery if gold prices bounce back on a possible course reversal by the Fed, which may move to cut interest rates next year. | ABEV Ambev $2.85 KGC Kinross Gold $3.47 MFG Mizuho Financial Group $2.37 PBI Pitney Bowes $3.27 TEF Telefonica SA $4.38 Ambev SA (ABEV) Source: rmcarvalhobsb / Shutterstock.com Ambev SA (NYSE:ABEV) is a Brazil-based brewer that operates in Latin America and Canada. Yet, with its much higher dividend yield (3.9% for ABEV versus BUD’s 1% yield), ABEV stock may be the better buy. Kinross Gold (KGC) Source: T. Schneider / Shutterstock.com Canada-based Kinross Gold (NYSE:KGC) operates gold mines around the world. | ABEV Ambev $2.85 KGC Kinross Gold $3.47 MFG Mizuho Financial Group $2.37 PBI Pitney Bowes $3.27 TEF Telefonica SA $4.38 Ambev SA (ABEV) Source: rmcarvalhobsb / Shutterstock.com Ambev SA (NYSE:ABEV) is a Brazil-based brewer that operates in Latin America and Canada. Yet, with its much higher dividend yield (3.9% for ABEV versus BUD’s 1% yield), ABEV stock may be the better buy. InvestorPlace - Stock Market News, Stock Advice & Trading Tips When it comes to penny stocks, the words “speculative” and “risky” are likely what first come to mind. | ABEV Ambev $2.85 KGC Kinross Gold $3.47 MFG Mizuho Financial Group $2.37 PBI Pitney Bowes $3.27 TEF Telefonica SA $4.38 Ambev SA (ABEV) Source: rmcarvalhobsb / Shutterstock.com Ambev SA (NYSE:ABEV) is a Brazil-based brewer that operates in Latin America and Canada. Yet, with its much higher dividend yield (3.9% for ABEV versus BUD’s 1% yield), ABEV stock may be the better buy. At current prices, the Japan-based bank holding company trades for less than 7x forward earnings. |
28204.0 | 2022-07-28 00:00:00 UTC | Companhia de Bebidas das Americas (ABEV) Q2 2022 Earnings Call Transcript | ABEV | https://www.nasdaq.com/articles/companhia-de-bebidas-das-americas-abev-q2-2022-earnings-call-transcript | nan | nan | Image source: The Motley Fool.
Companhia de Bebidas das Americas (NYSE: ABEV)
Q2 2022 Earnings Call
Jul 28, 2022, 11:30 a.m. ET
Contents:
Prepared Remarks
Questions and Answers
Call Participants
Prepared Remarks:
Operator
Good morning, and thank you for waiting. We would like to welcome everyone to Ambev's second quarter 2022 results conference call. Today with us, we have Mr. Jean Jereissati, CEO for Ambev; and Mr.
Lucas Lira, CFO and investor relations officer. As a reminder, a slide presentation is available for downloading on our website, ri.ambev.com.br, as well as through the webcast link of this call. We would like to inform you that this event is being recorded and all participants will be in a listen-only mode during the company's presentation. After Ambev's remarks are completed, there will be a question-and-answer session.
At that time, further instructions will be given. [Operator instructions] Before proceeding, let me mention that forward-looking statements are being made under the Safe Harbor of the Securities Litigation Reform Act of 1996. Forward-looking statements are based on the beliefs and assumptions of Ambev's management and on information currently available to the company. They involve risks, uncertainties and assumptions because they relate to future events and therefore depend on circumstances that may or may not occur in the future.
Investors should understand that general economic conditions, industry conditions, and other operating factors could also affect the future results of Ambev and could cause results to differ materially from those expressed in such forward-looking statements. I would also like to remind everyone that, as usual, the percentage changes that we will be discussed during today's call are both organic and normalized in nature; and unless otherwise stated, percentage changes refer to comparison with first quarter 2022 results. Normalized figures refers to performance measures before exceptional items which are either income or expenses that do not occur regularly as part of Ambev's normal activities. As normalized figures are non-GAAP measures, the company discloses the consolidated profits, EPS, EBIT, and EBITDA on a fully reported basis in the earnings release.
Now, I will turn the conference over to Mr. Jean Jereissati, CEO for Ambev. Mr. Jereissati, you may begin your conference.
Jean Jereissati -- Chief Executive Officer
Good morning and good afternoon, everyone. Thank you for joining ourearnings callfor the second quarter of 2022. During our last call, I mentioned that we started 2022 well-positioned and that I came out of Q1, encouraged with what we delivered. As I review Q2 results, I see even more evidence to be confident going forward.
And here is why. This quarter provided a glimpse of consumption patterns in a post-COVID world. In several of our markets, reopening continues well underway with services and on-premises businesses coming back. And as this takes place, we have once again been able to meet the moment.
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Ambev grew 6% in volumes, reaching 42 million hectoliters, which is 15% higher than 2019 levels. It is the first time we reached more than 40 million hectoliters in the second quarter. This led to a net revenue growth of almost 20%. In addition, organic EBITDA and cash flow grew over 17% compared to the same period of last year.
So, let's talk about Brazil. In Brazil, we witnessed more clearly the consumer comeback journey to the entrée and overall out-of-home occasions, leading to another quarter of solid topline performance. In Beer, we estimate we gained market share versus last year, and sequentially versus Q1 this year in both volumes and value. Volumes grew by 8.5% in the quarter and by 5.2% in the first half.
To-date, we grew 2.2 million hectoliters, leading the industry expansion as we estimate that the industry grew almost 0.5 million hectoliters. In terms of segments, premium grew more than 20% led by Original and Chopp Brahma, which are more relevant in their own tray channel. In fact, this quarter, Chopp Brahma achieved its highest volume in the second quarter with 40% more buyers than the pre-pandemic levels. While our corporate volume sustained its momentum, increasing volumes, low-teens, and we continue to invest behind developing our core plus brands, Brahma Duplo Malte and Spaten.
Net revenue grew 23%, with net revenue per hectoliter growing about 13%. And finally, EBITDA in Brazil beer grew 27.5% organically, with margins expanding by 80 bps. Talking about NABs in Brazil, we delivered another great performance this quarter. Volumes grew 16%, driven by healthy brands, especially in the out-of-home occasions supported by BEES.
We estimate we gained market share again this quarter. In CSD, Pepsi brands grew more than 20%, driven by the great success of Pepsi Black, which almost doubled its weight within our Pepsi brand. Net revenue per hectoliter grew 22%, driven by revenue management initiatives, the premium mix and package mix as single-serve packaging grew 37% this quarter. EBITDA grew organically 92%, expanding margins versus last year by 500 bps.
Regarding our technology platforms, over 86% of our revenues are coming through BEES. On the marketplace, in June, we announced a partnership with Grupo Pao de Acucar, who will offer a vast range of products on our platform via a 3P model, just like BRS, delivering an even better assortment and service level for our clients. Ze Delivery fulfilled 15 million orders, 2% below the previous year, mostly impacted by the rise of out-of-home occasions. GMV grew by 7% compared with last year, and we kept a four million month active users in the delivery.
We continue to invest behind adding more features to our app and delivering a better user experience to our consumers. And BEES bank grew TPV quarter over quarter by almost 40% and now reaches about 300,000 customers. Turning to our international operations. In LAS, overall volumes grew by 1.5%, led by Bolivia, which benefited by the reopening.
In Argentina, we remain cautious about the impact of rising inflation on consumption, despite flattish overall volumes in the quarter. In Chile and Paraguay, Premium and Core Plus continued to gain weight among our brands. LAS, net revenue per hectoliter grew 38%. In CAC, overall glass supply constraints remained, coupled with a tougher short-term competitive environment in Panama, this all contributed to a 10% decline in volumes and a flattish net revenue in CAC.
Talking about Canada, despite the reopening that took place, industry is still sluggish. We estimate that Beyond Beer industry declined by almost 9% in the quarter. Talking about beer, we estimate to have gained market share led by core and value brands. Now I would like to talk about brand building.
During our Investor Day, we explained our framework based on three pillars; mind, mouth and heart. And this is a quarter to be proud of, of how much we have evolved in the last few years in brand building. This evolution is no longer going unnoticed. Last year, we were awarded seven prizes in Cannes Festival of Creativity and this year, 12.
Ambev was the most awarded Brazilian company in the festival with Lions for all of our beverages categories, Brahma and Budweiser were awarded in beer, Guarana in ads and mind in Beyond Beer. Talking about our framework, starting with mind, we strongly believe that being creative is the best way to not only capture consumers' attention but also engage with them in a meaningful way. Brahma brought home its first-ever Golden Lion and seven Lions in total, which is an absolute record. It was the most awarded brands in the world in the social media category with our Foamy haircut campaign.
The results of all this creative effort helps Brahma continued growth in brand health KPIs. Now moving to mouth. Key recent innovations continue to grow as we keep launching products to delight all Brazilian tastes. Our most recent project is Brahma Duplo Malte Escura, or Brahma Duplo Malte Black, a special limited edition, which is brewed with two types of malte to create a darker and even creamier beer.
We continue to collect awards for our innovations. In June, we were listed one of the 20 most innovative companies in Brazil by the MIT Technology Review, a study that evaluated innovation capabilities in more than 1,000 companies in the country. Finally, going to our third pillar, the heart. Here it's all about being relevant in consumers' lives and connecting through their passion points.
After the two years gap due to COVID-19, our brands continue to be a fantastic platform for cheering together. Brahma helped to bring back some of the festivities in the Northeast of Brazil, one of the largest and most traditional celebrations in the country. Budweiser presented the NBA House 2022, a space where more than 40,000 people had the opportunity to watch the season playoffs and Beck's created the Urbeck's festival. On urban music and our circuit that helped to awaken different areas in the main urban centers of Brazil.
We will keep consistently focusing on mind, mouth and heart to make sure we are relevant, innovative and loved by our consumers, which will make stronger brands in the long term and help our organic growth trajectory. To conclude, our performance in Q2 accelerated in Brazil even more than we expected more than offsetting some headwinds we had in our international operations. It was a great H1, and we will work to deliver an even stronger H2 in terms of both top and bottom line despite facing a tough comp in Brazil Beer volumes in the third quarter and the continued volatility and inflationary pressures. We are not making any changes to our guidance for the year relating to Brazil Beer cash COGS per hectoliter growth between 16% and 18% and excluding the sale of non-Ambev marketplace products.
Moreover, we remain on track in terms of our main ambitions for the year. That is to get Brazil back to bottom line growth, to have a consolidated non-Ambev organic EBITDA growth ahead of the organic growth that we had in 2021 and to improve our return over invested capital. Lastly, I would like once again to thank the entire team for the ownership mindset in delivering results and transforming the company and a special shout out to the marketing team. Congratulations for the amazing performance at Cannes.
Thank you for your time. And now I will hand over back to Lucas.
Lucas Lira -- Chief Financial Officer and Investor Relations Officer
Thank you, Jean, and hello, everyone. Our financial performance in Q2 was fairly consistent with the first quarter in terms of what should be the same and what should change in 2022. What would not change, first, top line growth remains key. We delivered nearly 20% net revenue growth overall, with Brazil once again being the main highlight.
Second, input cost pressure remains a sticking point. Cash COGS per hectoliter grew nearly 18% at the consolidated level, while for Beer Brazil, it grew almost 14%, excluding non-Ambev marketplace products. And third, we would continue to focus on value creation drivers. The name of the game here continues to be improving our return on invested capital, building on our progress in 2021.
And in terms of what would change, first, net revenue performance more driven by net revenue per hectoliter than volumes as we adapt to a higher inflationary environment. Net revenue per hectoliter grew almost 13% and volumes grew around 6% in the quarter. Second, cost headwinds would come mostly from commodity inflation rather than FX. Commodity inflation was more explained by the increase in Brazil Beer cash COGS per hectoliter driven mostly by aluminum and barley, which was partially offset by better RGB mix.
Third, SG&A growth should improve. Cash SG&A grew about 15% in the quarter with sales and marketing growing almost 22%, thanks to continued investment behind our brands and innovation, distribution growing 18%, mainly due to rising diesel prices and admin expenses growing just around 2%, given lower variable compensation accrual once again. And fourth, tax credit one-offs in Brazil that positively impacted our EBITDA, financial results and effective tax rate in Q2 of last year would be a factor this quarter. And it was a factor, but for a different reason than we originally anticipated.
We recognized in the quarter about $1.2 billion in tax credits, of which a little over 900 million in other operating income and approximately 300 million in our financial results. This gain also relates to the inclusion of the ICMS state tax in the taxable basis of the PIS and COFINS federal taxes, which was declared unconstitutional. As I have mentioned in prior calls, there is still pending litigation in this matter. And during the quarter, we concluded together with counsel and external advisors, both the legal viability assessment as well as the quantification of this additional portion of tax credits for the PIS and COFINS that we overpaid over the years.
As a reminder, these tax credits are technically part of our normalized results from an accounting standpoint, but we disregard them for purposes of calculating our organic performance, treating them as a scope change. Please refer to our financial statements for further details. Now, given our performance in the quarter, we are well on track to deliver a better organic EBITDA growth in 2022 than the 10.9% organic growth we delivered in 2021. Brazil's recovery this year is turning out to be stronger than expected, which is more than offsetting the declines in CAC and Canada year-to-date.
As for last, year-to-date, Argentina is delivering EBITDA growth slightly ahead of local inflation, while the other last countries delivered EBITDA growth in H1, driven mainly by Bolivia, which is finally recovering from COVID. And putting this quarter's performance into perspective, since Q3 2020, we've managed to deliver net revenue growth above 13% and quarter after quarter, and this was true again in Q2. So the growth is there, despite all the headwinds we faced. And the good news is that in Q2, we finally managed to deliver growth and profitability in Brazil, which had been lagging for a while.
Brazil beer expanded EBITDA margins by 80 bps on while Brazil NAB expanded EBITDA margin by 500 basis points. No doubt, there is still work to do on the gross margin side and in terms of consistency, but it's a start. Speaking of profitability, as I've mentioned in prior calls, we've also looked at profitability in terms of working to consistently improve returns on invested capital year-after-year. And here, we're also happy with the progress we've made so far this year.
As first, we continue to look at ways to optimize our business through financial discipline on the cost and expense side, as well as improved resource allocation across our businesses and markets; and second, improved return on invested capital as we look to digitize and monetize our assets. Here, the scale-up of the technology platforms such as BEES and Ze Delivery are helping us improve not only NOPAT growth, NOPAT margin, but also asset turnover. It's still relatively early days for these platforms, so we definitely see more upside going forward. Now let's turn to our cash flow and our financial performance below EBITDA, and I will close with some words on ESG.
Cash flow from operating activities totaled about $2.2 billion in the quarter, which represents an increase of about 17%. Normalized profit grew a little over 4% in the quarter given EBITDA growth and a lower effective tax rate, partially offset by higher net finance expenses versus Q2 2021 of around BRL200 million. Net finance expenses were mainly impacted by the continued increase in the carry costs associated with our FX and commodity hedges in Brazil and Argentina, which should continue to be an issue going forward. Our interest expense grew mainly due to fair value adjustments of payables under IFRS 13, but it was fully offset by higher interest income resulting from the Brazilian tax credits we recorded in the quarter.
Before I wrap up, I want to briefly highlight our progress in terms of some important sustainability milestones. On the environmental side, we announced three more carbon neutral plants in Brazil; Arosuco Aromas in the State of Amazonas; Juatuba in the State of Minas Gerais; and Curitiba in the State of Parana. Together, they represent an emission reduction of over 5,000 tons of greenhouse gases per year and we intend to deliver an additional four carbon-neutral operations by year end. And on the social side, our people that volunteer within the VOA social transformation program have recently joined Gerando Falcoes, a Brazilian NGO of social development in an initiative to mentor social leaders of Brazilian favelas that are graduating at the NGOs Falcons University.
We plan to hold our ESG date during Q3, and we hope you can engage with us in this dialogue. So to wrap up, a few final messages. First, we delivered a stronger H1 than we expected, which gives us more confidence going into H2, particularly in Brazil. Second, our guard remains high since challenges and short-term volatility remain a reality, particularly in countries like Argentina, Panama and Chile.
And third, we remain focused on delivering continuous and consistent improvement in our results as we progress on Ambev's transformation journey. Now let me turn it back to the operator so we can go to Q&A.
Questions & Answers:
Operator
Ladies and gentlemen, we will now begin the question-and-answer session. [Operator instructions] The first question comes from Marcella Recchia of Credit Suisse.
Marcella Recchia -- Credit Suisse -- Analyst
Hi, Lucas. Hi, Jean. Thank you for taking my questions and congrats on results. I have two questions.
First, on price. Based on conversations with the industry participants, we heard that Ambev implemented an off-cycle price increase in the second quarter. So just would like to confirm that and if so at which channel and pack and by how much? On top of that, based on third quarter hard cost, can we expect the usual price increase to come, or could we -- could you increase discounts or reduce price in order to push volumes? Let me [inaudible] the answer of that before asking the second question.
Jean Jereissati -- Chief Executive Officer
OK, Marcella. Thank you very much for your question. As you know, we are really focusing on finding the right elasticity in the sustainable benefit between volumes and net revenue per hectoliter, always with medium long-term pricing strategy unchanged, prioritizing to do not lag inflation, but really work on a favorable brand back in channel mix.So this is – strategy pretty much does not change. Since 2019, we have been growing volumes, while improving pricing performance and we continue to monitor the environment moving forward but in a flexible way, watching inflation, disposable income, really working on elasticities to make the decisions on revenue management.So having said that, we did a more tactical price increase in May, it was a small one.
It was granular in some packs by Jan, there were some regions that it was around 2.5%, both on off-trade and on the -- on say, right? So usually, we see in Q2 net revenue per hectoliter going down sequentially, so this is more of an effect on mix in the Northeast regions gain weight, and then we get the winter coming in the Southeast.But this quarter was surprised us, it was really that the actions that we took, the channel mix, and the PET mix during the COVID and the reopening of bars maybe seen RGB 600 ml bottles or regional [inaudible] really getting traction. So, this helped us to somehow -- to mitigate this usually net revenue per hectoliter decline that we have Q2 to Q1. Page two, I can't really comment. I can't really comment on the competitors sensitive on pricing decisions moving forward.
Marcella Recchia -- Credit Suisse -- Analyst
Perfect. That's very helpful. And the second question very quickly is, about the core plus segment, which was the only segment you did not mention how much volumes grew in the quarter. So, it would be nice to hear from you how the segment performed in the second quarter? And also, if you can give us some color on how has been the rollout and acceptance of [inaudible]? Thank you.
Lucas Lira -- Chief Financial Officer and Investor Relations Officer
OK. So that's a good question. Let me give a step up to talk about dynamics that we saw in the Q2 and then we talk about the segment. What we see Marcella during this – doing a deep study in the previous two years is that, we developed a lot of actions really to fulfill the in-home opening, right? So since the pandemic arrived, we designed ourselves to get the in-home occasion right and we went deep on that, right? So you see that delivery was slowed.
Brahma Duplo Malte, it was a brand on the core plus segment designed [inaudible]. We changed -- we expanded the 300 ml bottles focused on the traditional trade to get inside homes. So it was really a strategy that we are very happy with it. It's really step changed our volumes that was to combine all these things, that's really something that that really led our 10 million hectoliters change in the company.
But what we have seen in Q2, it is that -- so there is a lot of residual of in-home actions, but consumers travel back to our strength that it was the bars. And then we see everything around this social out-of-home occasion really shining and a lot of residual on the home really shining the out-of-home occasion. So, because of that, we see high end very strong with Original, Brahma that they are -- they were waiting for to come back, right? So -- and they suffered a lot and they came back. We've seen somehow be core in 600 ml bottles and liter bottles coming back that they were really growing more on the 300 ml bottle.
In the corporate strategy, it continues -- so Bohemia, we kind of unplugged with market initiatives. We are really focusing on Spaten and Brahma Duplo Malte that segment. And if you see the combination of these two brands, Spaten, it was designed more on the 600 ml bottles, Brahma Duplo Malte more on the in-home occasion. If we get the two combined we are growing double-digits in this quarter, but with Bohemia with negative volumes.
Marcella Recchia -- Credit Suisse -- Analyst
Excellent. Thank you so much and congrats again.
Operator
The next question comes from Isabella Simonato with Bank of America.
Isabella Simonato -- Bank of America Merrill Lynch -- Analyst
Thank you. good morning Jean, Lucas. Good morning everyone. Just a follow-up, two questions is, first of all, a follow-up on the volume discussion in Brazil.
It's interesting when you mentioned, right, based on the remarks, pretty much all the main segments, right, grew double-digits this year, while when we look at the printed volume, right, they're going to have -- looks below the average of those segments. So, if you just give a little bit more color per segment or what exactly brings the average a little bit down? I think that would be helpful. And the second question is when we think about the performance right over the first half, and you guys mentioned it has been a positive surprise. However, you didn't change guidance, right, or you -- I don't know if you think there is more room for positive surprise or if you guys are seeing a more challenging second half.
And if that's the case, what would be those challenging, right? It is in the international market, given what's going on in Argentina, or a tough comp in Brazil? So, just to get a little bit more color how you guys see in the second half. Thank you.
Jean Jereissati -- Chief Executive Officer
Let me get the first one and then Lucas get the second one. But Isabella, so volume-wise, we are very excited about. So, 8% volume -- it's a great volume in the quarter. But in the end to look quarter by quarter, sometimes, it's misleading because consumer is moving.
So -- and from one occasion to another. It was really -- if you look back to 2019, we are 20% above our volumes in 2019, OK? So, we've seen a structural brands in the high end doing well consistently in this period, and then we landed in above 20s in the high-end brands with like Original and Skol, Brahma as I mentioned, really leading more than that. Somehow, I mentioned that [inaudible] plus Sparking, they are double-digits. The midstream is around that two, OK? So with low teens to what really went down, it was the value brand that we really unplugged, brands like [inaudible] brands that some regional brands that we have like [inaudible].
So they were brands that really took the heat overall. And -- but we see somehow core and core plus taking brand now in the same pace and then high end ahead of – of the portfolio. Our specialty brands, they are doing very well, OK? So the craft are going doing very well to specialty. So this is one thing.
Talking about the guidance, I will hand over to Lucas, but just to mention, just to guarantee that he put the right words here on the call. But somehow, we are excited. We mentioned that Q1, we had that strange January that as a one-off hit on -- with Omicron in many markets. Then we had this Q2.
Then when we look at H1, it's more something like what we was expecting in Q1, if it was not Omicron and it's a place that we are better than we were in Q. And what I mentioned in my initial statement is that we believe that H2 will be strong -- we are confident that we will be better in top line and bottom line when we -- H2 when we compare with H1. So somehow, if you put the numbers, we are confident. But I will get to Lucas as you look at kind of rounded up.
Lucas Lira -- Chief Financial Officer and Investor Relations Officer
Sure. Thank you, Jean. Hi, Isabella. Thanks for the question.
Starting with the guidance. The guidance that we gave for the year was related to cash COGS per hectoliter in Brazil beer, excluding non-marketplace products, right, Ambev products, non- Ambev marketplace products. And that was the guidance that we gave, right, in Q4 when we announced the full year results and announced our expectations for the year. And that guidance stands year-to-date, the cash cost per hectoliter in Brazil beer, excluding non- Ambev marketplace products, is trending at 14.5%.
So below the range, which is good. But again, given that not 100% of our costs, right, are hedgeable, right? We still see merit in keeping the 16% to 19% outlook for the year, OK, as our official guidance. On top of that, when you think of our ambitions for the year, just to add on to what Jean mentioned, when we look at our H1 performance, our view is that we come out of H1 more confident on our ability to deliver our ambition of growing ahead of 10.9% organically at a consolidated level, which is what we delivered in 2021. When we shared this ambition on one of our prior calls, I remember I got the question on why we believed, right, growing ahead of 10.9% was feasible.
And the answer then was that if we managed to deliver a Brazil bottom-line coming back to growth that in and of itself, right, would be a significant tailwind in our ability to deliver this ambition. And if you look at our results in H1, right, there was a step-up in Q2 in terms of our overall performance, and that made an enormous difference on our total EBITDA growth for Ambev in the first half, which is around 15%, I believe, 14%, 15%. So, within H1 at 15% and Brazil, stronger than we expected, right, we think that if we manage to do a better job in Cochin, Canada and last continues to deliver good performance and mindful of the challenges in Argentina. But outside of Argentina, last in Q2, the other countries Bolivia, Paraguay, Chile, and Uruguay, they grew double digits in Q2, OK? Just for instance, just another data point for you to have.
So, if we manage to have Brazil continuing momentum in H2, last continuing to deliver that can be helpful in offsetting potential headwinds in a in Cochin, Canada. But again, we still have work to do there and we're still going to pursue better results in Canada and in CAC in H2, OK?
Isabella Simonato -- Bank of America Merrill Lynch -- Analyst
No, that is super clear. Jean just one minor confirmation. When Jean said second half could be better on topline and bottom-line than half one, is it nominal terms or growth, just to double check that?
Jean Jereissati -- Chief Executive Officer
Inorganic growth.
Isabella Simonato -- Bank of America Merrill Lynch -- Analyst
Inorganic growth. OK. Perfect. Thank you.
Operator
The next question comes from Lucas Ferreira with J.P. Morgan.
Lucas Ferreira -- J.P. Morgan -- Analyst
Hi, everybody. Thanks for questions. The first one is regarding SG&A. If you can discussing the second half of how to think about SG&A, you have some important events ahead, such as the World Cup, potentially provisioning for bottles, again, it's going to be a strong year.
So, how to think about that? There was already kind of heavy SG&A of this first half. So, should we see similar trends into the second half or that should see somewhat alleviated to help you deliver this growing expectations you're talking about? And the second question, Lucas, last year, you guys had some issues with sort of an unhedged position because, I guess, the company ended up with selling much more beer than you expected, right? So, how to think about that this year? Are you also probably performing a bit better than expected? Are you guys having sort of unhedged positions to do as well? And would those come maybe now at a lower cost given the foreign commodity prices or you cannot say that yet? Thank you.
Jean Jereissati -- Chief Executive Officer
Sure. Lucas, thanks for the question. Let me start with the second one on the hedges, OK? So, everything that's hedgeable for 2022 has been done, right and has been done for quite some time now. So, the issue is not around hedging per se, OK, looking into H2.
The issue is more on the unhedgeable side of our cost base. And you're right, that was an issue last year. There was an increase in the second half of the year on the unhedged portion of our costs. This year, there has been some impact not enough right to compromise, right, the guidance that we gave in Brazil beer.
But that remains a risk for H2, and that's one of the reasons why, right, we're not updating – we're not making any changes to our guidance of 16% to 19% in Brazil beer, as I mentioned, and in my prior answer, OK? So again, the issue is not the hedging side that's done for 2022. The issue is more on the unhedgeable portion of our cost. And again, we are living in higher inflationary environments overall that applies to cost that apply to expenses. And that's a good segue to try and answer your first question around the SG&A.
What we anticipated directionally for SG&A in 2022, was a lower growth of SG&A year-over-year as compared to, right, 2021 to 2022 and because of the lower accrual for variable compensation, right? As you will recall, Lucas, last year, one of the main factors that led to a higher SG&A growth year-over-year versus 2020 was precisely the fact that the recovery was much stronger than we expected. And 2020 was no bonus year, right? So that created a double whammy effect, if you will, on the admin side through higher bonus accruals. That's not the case this year so far. Obviously, H2 will depend on how we do versus our budget, and then we will accrue according, right? So with admin expenses growing at a lower rate because of lower year-over-year bonus accruals, that should help us, right, for the year, deliver a better SG&A growth.
And then on the sales and marketing side, I think the point to call out is really Q4 and Q3 as we prepare for the World Cup, right? So there is sales and marketing investment for an event of that proportion, right? It's a great opportunity that we have coming up in Q4 to really leverage not only our brand portfolio but also our technology platforms, right, to really meet the moment, serve clients better, serve consumers better during such an important event for markets like ours. So yes, there is a calendarization that's different than this year, because of the events that we have coming forward. And in terms of distribution, I think the watch out is really what happens to diesel, right? I mean diesel has been a factor on our distribution expenses, not only in Q1 but also in Q2, it was a factor. I think the glass half-full side of the equation in terms of sales and marketing and in terms of distribution is that year-to-date it's growing below net revenue growth, right? And I think that's good news.
That's something that we always do that sense check, and in addition to that, right, we're applying our typical financial discipline, making sure that we are as focused as possible on being strict on the non-working money side of our business, which is everything that consumers don't touch, feel, see to release funds to be able to invest more in things like sales and marketing that are going to continue to develop the health of our brands going forward. OK?
Lucas Ferreira -- J.P. Morgan -- Analyst
Perfect, super clear. Thank you.
Operator
The next question comes from Thiago Bortoluci with Goldman Sachs.
Thiago Bortoluci -- Goldman Sachs -- Analyst
Yes. Hi, Jean and Lucas, good morning everyone. Thanks for taking the questions. I have two.
The first one, a follow-up on the cash from guidance. Obviously, there are a lot of different moving parts here, and we understand that you have an average policy of hedging in part of our commodity needs on a pro forma, but you might also be kind of [inaudible] price as well. So I'm just curious to hear from you if we should see the impact from lower commodity prices just 12 months from now, or you could have decided to go for more to meet the dealer and you could see some part of business selection early on over the next quarter? This is the first question. And the second one is regarding the World Cup and the outlook for the first quarter, right? Obviously, that there are also a lot of different moving parts just in Brazil, the election typically, we know that this event is very positive for volume, right? So just try to explain and hear a little bit from you, how much of an opportunity do you see for the first quarter and beyond that if you believe this volume should be really incremental as you head into 2023, or this might create an opportunity? Thank you.
Those are the questions. Thanks guys.
Lucas Lira -- Chief Financial Officer and Investor Relations Officer
OK. Thanks, Thiago. This is Lucas. Let me take the first one, and I'll hand it over to Jean to talk about the preparations for the World Cup on the commercial side, OK? So in terms of the exposure to aluminum specifically, right? I think this is more of a 2023 issue than the 2022 issue.
And the good news is that, of course, it's still early to give any specific outlook for 2023. We still have a good portion of hedging to do right through the end of the year. But the good news is that so far aluminum is no longer a tailwind. It's no longer a headwind as it has been over the last two, three years.
On the currency side, the BRL hedge versus the US dollar is also a tailwind for a change. It has been a headwind for the last two and three years as well. And so that's the good news so far, again, still a lot of hedging to do through the end of the year. And on the glass half empty side of the hedge for 2023, so far our hedges with respect to barley are continuing to be a headwind, but to a lower extent than the levels that we saw in 2022 and the Argentinean peso FX hedges should continue to be a headwind, at least that's what we've seen so far this year.
So aluminum, more of a 2023 issue, and kind of that's where we are so far this year, let's see how things unfold on the hedging for commodities and FX through the remainder of the year. Over to you, Jean.
Jean Jereissati -- Chief Executive Officer
OK. So let me talk about the World Cup here, right? So the question that we are for you to get the information yesterday, we had a World Cup team, OK? So we put like 50 people in the room from inside the company, outside to have the best insights of what could do – could we do in this World Cup, and we learned a lot yesterday. And the question that we did for ourselves, the statement so the briefing of the day is what can we do in this World Cup that will make us better in 2023, OK? So that was the statement that we did to 50 people to outside to people from agencies, consultants and it was a day that we learned a lot and we went out with great plans on that opportunity to resolve problems to make this World Cup more inclusive to make in the end the young people more interested, to make soccer something that can be enjoyed by women. So we are really thinking about how can we solve problems with our brands, with this World Cup strengthening the brand.
We are connecting that delivery, how can we acquire users during the World Cup that they will stay, how can we touch the hearts of the Brazilian. The sentiment that we find with the survey's that everybody is waiting for this World Cup as a breath. Everybody knows that the next three, four months, it will be about quality organization looks like the World Cup is a moment that Brazil can come together again. So it will be a very important moment.
We are very intuit. We are prepared on the logistics side. We are prepared on the marketing side. We believe that we will -- it's the first time that we have World Cup in the summer in this context after one year of pandemic.
And for sure, we will help us this year. The big question is what are the structural things with brands and digital products that we can do to get together with the Brazilian and to make it residual for 2023. We are very excited about the World Cup.
Thiago Bortoluci -- Goldman Sachs -- Analyst
Very interesting. Thank you.
Operator
The next question comes from Thiago Duarte, BTG Pactual.
Thiago Duarte -- BTG Pactual -- Analyst
Hello. Thank you. Hello, Lucas and everybody. I have – three questions on from my side.
The first one it is clear at this point that you're positively surprised by the performance in Brazil relative to when you provided the guidance or when you even said that the momentum was strong in the end of the first quarter. But it's not clear to me what exactly is the biggest source of surprise. Is it -- so if I think, Jean could comment a bit on that. So it is just demand -- the consumer demand or how strong consumers are going back to on-premise? Is it the solution of high e-commerce, is it the cost side, which is on the favorable side in terms in terms of your guidance.
So you if can -- if you could elaborate a little bit more on what you are saying are the biggest sources of a positive surprise for the performance that the company had in the second quarter and in the first half of the year, that would be great. The second question is going back over the pricing in Brazil business. Jean, you mentioned a small price increase in the second quarter. If you could elaborate a little bit more when we look at the 11.2% revenue per hectoliter growth with beer excluding marketplace, how mix, in particularly, packaging with the incremental RGB is driving that now, that would be very helpful as well.
And a third question would be on working capital. It's not only on Q2, but also in the entire first half, there was some -- second working capital consumption, which is not very common, considering that you guys are growing volumes and are easily gaining share. And I presume this is positive for the working capital of the company, as you guided before. So if you could elaborate a little bit on what's driving that working capital consumption ahead of the second half; that would be nice as well? Thank you
Jean Jereissati -- Chief Executive Officer
I'll get the first and the second question. And then Lucas jump in to the third one, OK. So what surprised us in Brazil in Q2, it was so -- the moving pieces we knew, OK, but surprises us that we continue to gain market share. OK? So sequentially, we gained the market share and the strength of the bars reopening, it was something that came on the top of our range of expectations, OK? So somehow, there was this discussion about when the consumer -- when the bars really fully reopen -- and it's not just the bars and the social out-of-home occasion gets a full potential.
So what's the size of it? And what's the residual volumes of the in-home initiatives and the occasion that it was created during the pandemic. And this mathematics surprised us. Or at some point in time, we believe that in-home could go down more for their on-trade to go to be reopen or the on-trade was not that strong. So it was the combination of this equation, the residual of in-home with the strength of the out-of-home that surprised us.
And then 8.5% in terms of volumes, it was above this math. And talking about revenue management, you know that we are very granular now on the revenue management. You know that we have a strategy that we are -- have been very inclusive and really maintaining beer competitive in the basket of the Brazilian consumers. And what we liked about this quarter is that it was really -- we really challenged the elasticity in general.
OK, it was like good net revenue per hectoliter actually with good volumes. And it was about the carryover of the previous year, the tactical things we did, as I mentioned, here in May. But a big part of it, it was the 600 ml bottles and the high end, the brand mix helping us in the value brands going down to. So the combination of brand mix and 600 ml bottles coming back that made this number that you see in our Q2.
So working capital, Lucas?
Lucas Lira -- Chief Financial Officer and Investor Relations Officer
Sure. Hi Charlie. Thanks for the question. I think in terms of working capital, I would say that the bigger issue was actually Q1 on the payable side, OK? I mean like if you recall our conversation last quarter, right, our payables in Q1 have had an issue around the payment of the variable compensation, right? And also, there was a higher level of payments to suppliers, given the calendarization of our capex.
So capex that was booked, right, in H2 of 2020 ended up being paid in Q1, right? So that double effect created a bigger gap in terms of working capital in Q1. In terms of Q2, and that's by far kind of the biggest factor year-to-date. I think Q2, what the outlier here is more on the receivables side, and it relates to the tax credits that we recognize, unlike last year when we recognized the tax credits, but did not immediately monetize. This year, the monetization was faster than last year and that has an impact on our receivables.
In terms of inventories, no major change in terms of inventory building, there was some more inventory building in Q2 this year than last year, but again, it's more of a calendarization effect. And then on the payables side, in Q2 also no big major change other than just a different calendarization of our capex spend and when the payments are falling. So I think it's better to look at working capital more on a yearly view because on a quarterly view, you will have, from time to time, these swings related to specific events like the bonus, like calendarization of capex, like the tax credit.
Thiago Duarte -- BTG Pactual -- Analyst
That's clear. Thank you so much.
Operator
The next question comes from Alan Alanis with Santander.
Alan Alanis -- Banco Santander -- Analyst
Hi everyone. Thanks very much for taking my question. Congrats on the results you have in [inaudible] has to do with the competitive dynamics and the connection between soft drink and beer. I mean, I understand we've been gaining market share on beer.
I think that there are reasons also among your competitors, the separation with institutions of Heineken from the Coca-Cola system. And I think that – congratulations, you are doing a lot of things right in taking advantage of that in gaining market and value share. What's a bit of a surprise for me to see that you're also gaining a lot of market and value share in sales after the Coca-Cola Company and [inaudible] what are you seeing and what are you doing differently in soft drink in order to be gaining market share and how sustainable is this going forward?
Jean Jereissati -- Chief Executive Officer
Thank you, Alan, for the question. In reality, soft drink was really big start of this quarter, right. It's -- we are very proud of the performance of soft drinks and somehow, I've been mentioning for a while now that we've been transforming ourselves into more of a platform in the past we were like a beverage company. Now we are a platform.
So, this is something that people do not understand somehow, but we did a huge structural change inside the company in terms of breaking the silos in terms of having the marketing areas as a marketing-as-a-service; have my frontline team working for the whole portfolio in the past I have siloed teams. So, we did a big change to prepare the company to really unlock its potential of topline growth. On top of that, we focused our efforts on soft drinks, on brands of the future. So, somehow, the PepsiCo partnership is stronger than ever.
The launch of Pepsi Black, it was just a surprise for us how the product is getting into the face of the cities and the places that we are launching. And somehow -- so with this strategic view with a good partnership of Pepsi and this arising where we had in the past a sales rep that somehow was a fun in terms of number of SKUs that they could offer. So, the combination of these three things maybe put NAB on fire we estimate that we are gaining market share. So, Pepsi brand, there is a whole ocean of colas that we never tackle reality as really accelerating and gaining market share.
And this is really allowing us to do much more things that we would do in the past. So it's important avenue of growth for us that we are really interested. So I think this is structural.
Alan Alanis -- Banco Santander -- Analyst
Got it. No, that is -- so you're pushing more toward the total beverage and you are deleveraging your real power, your scale here to move more soft drinks. Thank you so much and again, congrats on your results.
Operator
The next question comes from Carlos Laboy with HSBC.
Carlos Laboy -- HSBC -- Analyst
Good afternoon everyone. Jean, it's nice that the creative team is winning awards and I was thinking it's a landmark really, that you can celebrate your markers and they're growing importance. But can you speak to the proof point to evidence a lasting brand rehabilitation and renovation is happening. Maybe you can expand on the Brahma case or on any other incremental proof points that you have that your core brand build strategy and renovation strategy are working here.
Jean Jereissati -- Chief Executive Officer
OK. Thank you for the question, Laboy. Yes, so I could mention I think Brahma is really one brand that is really on fire as a family with Chopp Brahma appearing a long time that we don't talk about it as the reference of beer in Brazil when the reopening of bars like. So, on fire Chopp Brahma with the using Brahma brand doing very well and Brahma Duplo Malte coming in the middle of all this family making a stature of brand and family that it's really getting consumers.
If you add up, it's really the brand most valuable of Brazil is really drama that has more lowers is really the overall brand Brahma doing very well and it was not like that like two or three years ago, we rejuvenates Brahma with Brahma Duplo Malte, and we stepped up again, the quality use of the brand with Chopp Brahma coming back as it come in this stage in the Q2. I think somehow, it's a combination of mind, mouth and hearts that we were able to tackle in the right way these three themes with the Brahma brand, for example. Another brand that is doing very well, so we are somehow biased this quarter that original just explode it to. It's a brand that is about the traditional routes of the Brazilian about the bar.
So the bars were closed at the occasion. So everybody is coming to our original brand and Pasco regional. So this is one thing another way that we can mention. And I'm very excited about BEX, there is a brand that we are cooking in a very low temperature, like, I don't know how we say this in English, but we are cooking it slowly.
It's read about getting the pallets right in the edginess of the ruble centers. And it's on fire to us is the brand that everybody is talking about the edge of the palate, European, trendy, moving the boundaries. So we showed you that architecture of brands that we have in their archetypes. And somehow, I think that our focus brands are doing just amazing.
You've seen the numbers. Our price, it was very resilient this quarter. This means that the channels are right, this mean that consumers are paying. And this is what a combination of renovation and innovation.
So I don't know, if I really answered your question, but the last thing that I could mention is that pre-pandemic levels in today levels, we have 1.5 million people that saying to us that that they love one of our brands. So pre-pandemic level to now 1.52 million consumers that elect one of our brands and their loved brand. So I think that's it.
Carlos Laboy -- HSBC -- Analyst
Thank you, JJ. And cash COGS for hedge funds, but this brand renovation is the real lasting stuff on the turnaround. Congratulations.
Jean Jereissati -- Chief Executive Officer
Thank you.
Operator
The next question comes from Sergio Matsumoto with Citigroup.
Sergio Matsumoto -- Citi -- Analyst
Yes, good morning, and thanks for taking my question. I wanted to circle back on the voice improvement of the new metric as discussed in the that – with the recent improvement in the top line, and the recent decreases in the spot prices of the commodities, I'm wondering if perhaps we can see some changes in how the composition of the return on investment capital might improve over the coming years with -- you had mentioned investment capital turnover as the first phase and then transitioning into more of a no path to margin improvement, would you say that the -- that transition might occur faster than expected when you than a few months ago?
Lucas Lira -- Chief Financial Officer and Investor Relations Officer
Yes. Hi, Sergio, thanks for the question. This is Lucas speaking. Sergio, in all honesty, I think it's very hard to right – it's very hard to speculate at this point to what extent, right, our longer-term perspective on the two drivers for improving our return on invested capital, right, could change in view of the latest, right, the latest movements in Q2, right? And the reason I say that is, in Q1, the picture was right strikingly different because commodities were on the rise in Q1.
So to me, I would be speculating here if I gave you any indication of – of what change this can imply longer term. I think we have to really wait and see how commodities behave going forward, how currencies move going forward. I think what's important for us on the commodity side and on the currency side is the discipline that we have in following our hedging policy, right? That's key to give us predictability that's key to give us time to react as headwinds may arise. So that discipline remains intact, and we will continue to focus on that.
Having said that, if we continue to deliver top line growth, right, as we have in the last two years, that's obviously helpful for the margin recovery. And so let's see how things progress on the top line side. But as we've mentioned time and time again, top line growth remains a priority for us. Some quarters, some years, it may be more volume than price.
It may be the other way around, like we're seeing in 2022. But we remain kind of steadfast in continuing the momentum that we've built on the top line growth side. And on top of that, we have the better asset turnover potential given the platforms such as these with marketplace and D2C and fintech and as these scale up, we see opportunity to have a better asset turnover profile than in the past, but we have to deliver. Let's see.
Sergio Matsumoto -- Citi -- Analyst
Understood. Thank you very much.
Operator
The next question comes from Leandro Fontanesi with Bradesco BBI
Leandro Fontanesi -- Bradesco BBI -- Analyst
Hi, everyone. One question or one discussion that we have with investors is regarding Argentina, right? So recently, the depreciation of the Argentinean peso at the blood market was much stronger relative to the official rate, right, than it was in previous quarters. And so there's a concern that the net income that you're generating in Argentina you may have issues to take that money out of Argentina and especially relative to what you report on your accounting numbers, right, they use the official rate. So to help us address or to help us understand the risk, if you could like provide us with some information such as what percentage of your total EBITDA comes from Argentina, also how you are addressing that risk going forward? And actually, I understand that you report how much you're having cash in Argentina and Cuba, which I think is like BRL600 million, does not look relevant.
But it has been reducing in previous quarters that means you are burning cash in Argentina, and then generating the majority of your cash outside of this operation. So to understand if you could potentially allocate some of their costs from other operations in that country in that way, you don't need to depend that much on taking the money out of the country? Thanks.
Lucas Lira -- Chief Financial Officer and Investor Relations Officer
Yeah. Hi, Leandro, thanks for the question. This is Luca speaking. Regarding Argentina, I think, first, there is a lot of short-term volatility in the country.
The good news is that on the operational side, the business continues to perform relatively well when you think of top line, when you think of the portfolio and the health of the portfolio and how that's translating into our performance, not only in core but in above core segments such as Core Plus and premium brands with good brand health indicators, market share in line with what we expect, so on and so forth. However, on the macro side, we are once again seeing more volatility coming out of Argentina. That's a fact. The last time we faced something similar was 2019.
And there have been other instances in the past 10, 15 years where there have been years of more volatility and currency devaluation and so on and so forth. So I think for us here, the way we approach it is stay focused on the micro and the commercial performance because it's a sizable market. It's a growing market. It's a profitable market for us.
So that remains a priority number one. Number two, protect what we can protect, what we control on the cost side. So that's where the hedging policy comes in. So we continue to adhere to our on average 12 months hedging for the Argentinean peso and for the commodities, right, as they apply to the Argentinian business, OK? And that helps us protect our costs in Argentina, OK, and the EBITDA performance in Argentina.
We also look into -- we're constantly looking into right cash management, how we manage counterparty risk in Argentina between local banks, international banks. And so there's a lot of tracking and monitoring of the situation on the ground to make sure that we're very disciplined and diligent in terms of our cash management, so the operation can keep running, right? We can continue to work with our clients, work with our suppliers. We want to keep things running in as seamless way as possible, OK? And then, on the taking money out of the country side, I think, the point here is more as -- is more of, there are -- right, there are restrictions in place, right, for operating in foreign exchange markets. Our focus is more accessing foreign exchange markets in Argentina to keep the operation running.
The level of imports is fairly low, but we want to make sure that we still have access to keep the operation running. So that's the bigger priority. And in terms of cash generation, historically, the cash generation is more -- in Argentina is more skewed toward the second half year of the year than in the first half of the year. Hope this helps.
Leandro Fontanesi -- Bradesco BBI -- Analyst
Yes. Thank you, Lucas. The Q&A session is over. I would like to turn the floor over to Mr.
Jean Jereissati for his final remarks.
Jean Jereissati -- Chief Executive Officer
So, thank you all. I thank, all analysts, everyone who joined today, the call time -- for your time and attention. To wrap up, I think, it was -- I like to look at better H1 than Q2. I think it was a great H1 for Ambev, for Brazil, and we are confident that we can deliver an even stronger H2, OK? We remain on track in terms of our main ambitions for the year, to get Brazil back to bottom line growth, to have consolidated Ambev organic EBITDA growth ahead of the organic growth that we had 2021 and improve our ROIC.
And we will continue vigilant on the short-term volatility and cost trend. Thank you very much. See you in October and have a great day.
Operator
[Operator signoff]
Duration: 0 minutes
Call participants:
Jean Jereissati -- Chief Executive Officer
Lucas Lira -- Chief Financial Officer and Investor Relations Officer
Marcella Recchia -- Credit Suisse -- Analyst
Isabella Simonato -- Bank of America Merrill Lynch -- Analyst
Lucas Ferreira -- J.P. Morgan -- Analyst
Thiago Bortoluci -- Goldman Sachs -- Analyst
Thiago Duarte -- BTG Pactual -- Analyst
Alan Alanis -- Banco Santander -- Analyst
Carlos Laboy -- HSBC -- Analyst
Sergio Matsumoto -- Citi -- Analyst
Leandro Fontanesi -- Bradesco BBI -- Analyst
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Companhia de Bebidas das Americas (NYSE: ABEV) Q2 2022 Earnings Call Jul 28, 2022, 11:30 a.m. Operator [Operator signoff] Duration: 0 minutes Call participants: Jean Jereissati -- Chief Executive Officer Lucas Lira -- Chief Financial Officer and Investor Relations Officer Marcella Recchia -- Credit Suisse -- Analyst Isabella Simonato -- Bank of America Merrill Lynch -- Analyst Lucas Ferreira -- J.P. Morgan -- Analyst Thiago Bortoluci -- Goldman Sachs -- Analyst Thiago Duarte -- BTG Pactual -- Analyst Alan Alanis -- Banco Santander -- Analyst Carlos Laboy -- HSBC -- Analyst Sergio Matsumoto -- Citi -- Analyst Leandro Fontanesi -- Bradesco BBI -- Analyst More ABEV analysis All earnings call transcripts This article is a transcript of this conference call produced for The Motley Fool. On the marketplace, in June, we announced a partnership with Grupo Pao de Acucar, who will offer a vast range of products on our platform via a 3P model, just like BRS, delivering an even better assortment and service level for our clients. | Operator [Operator signoff] Duration: 0 minutes Call participants: Jean Jereissati -- Chief Executive Officer Lucas Lira -- Chief Financial Officer and Investor Relations Officer Marcella Recchia -- Credit Suisse -- Analyst Isabella Simonato -- Bank of America Merrill Lynch -- Analyst Lucas Ferreira -- J.P. Morgan -- Analyst Thiago Bortoluci -- Goldman Sachs -- Analyst Thiago Duarte -- BTG Pactual -- Analyst Alan Alanis -- Banco Santander -- Analyst Carlos Laboy -- HSBC -- Analyst Sergio Matsumoto -- Citi -- Analyst Leandro Fontanesi -- Bradesco BBI -- Analyst More ABEV analysis All earnings call transcripts This article is a transcript of this conference call produced for The Motley Fool. Companhia de Bebidas das Americas (NYSE: ABEV) Q2 2022 Earnings Call Jul 28, 2022, 11:30 a.m. Cash SG&A grew about 15% in the quarter with sales and marketing growing almost 22%, thanks to continued investment behind our brands and innovation, distribution growing 18%, mainly due to rising diesel prices and admin expenses growing just around 2%, given lower variable compensation accrual once again. | Operator [Operator signoff] Duration: 0 minutes Call participants: Jean Jereissati -- Chief Executive Officer Lucas Lira -- Chief Financial Officer and Investor Relations Officer Marcella Recchia -- Credit Suisse -- Analyst Isabella Simonato -- Bank of America Merrill Lynch -- Analyst Lucas Ferreira -- J.P. Morgan -- Analyst Thiago Bortoluci -- Goldman Sachs -- Analyst Thiago Duarte -- BTG Pactual -- Analyst Alan Alanis -- Banco Santander -- Analyst Carlos Laboy -- HSBC -- Analyst Sergio Matsumoto -- Citi -- Analyst Leandro Fontanesi -- Bradesco BBI -- Analyst More ABEV analysis All earnings call transcripts This article is a transcript of this conference call produced for The Motley Fool. Companhia de Bebidas das Americas (NYSE: ABEV) Q2 2022 Earnings Call Jul 28, 2022, 11:30 a.m. If you add up, it's really the brand most valuable of Brazil is really drama that has more lowers is really the overall brand Brahma doing very well and it was not like that like two or three years ago, we rejuvenates Brahma with Brahma Duplo Malte, and we stepped up again, the quality use of the brand with Chopp Brahma coming back as it come in this stage in the Q2. | Operator [Operator signoff] Duration: 0 minutes Call participants: Jean Jereissati -- Chief Executive Officer Lucas Lira -- Chief Financial Officer and Investor Relations Officer Marcella Recchia -- Credit Suisse -- Analyst Isabella Simonato -- Bank of America Merrill Lynch -- Analyst Lucas Ferreira -- J.P. Morgan -- Analyst Thiago Bortoluci -- Goldman Sachs -- Analyst Thiago Duarte -- BTG Pactual -- Analyst Alan Alanis -- Banco Santander -- Analyst Carlos Laboy -- HSBC -- Analyst Sergio Matsumoto -- Citi -- Analyst Leandro Fontanesi -- Bradesco BBI -- Analyst More ABEV analysis All earnings call transcripts This article is a transcript of this conference call produced for The Motley Fool. Companhia de Bebidas das Americas (NYSE: ABEV) Q2 2022 Earnings Call Jul 28, 2022, 11:30 a.m. So with low teens to what really went down, it was the value brand that we really unplugged, brands like [inaudible] brands that some regional brands that we have like [inaudible]. |
28205.0 | 2022-07-13 00:00:00 UTC | Consumer Sector Update for 07/13/2022: SFIX,DAL,NEPT,NEPT.TO,ABEV | ABEV | https://www.nasdaq.com/articles/consumer-sector-update-for-07-13-2022%3A-sfixdalneptnept.toabev | nan | nan | Consumer stocks were ending higher during Wednesday trading, with the SPDR Consumer Staples Select Sector ETF (XLP) climbing 0.3% while the SPDR Consumer Discretionary Select Sector ETF (XLY) was adding 1.0%.
In company news, Stitch Fix (SFIX) gained 14% after an overnight regulatory filing showed board member J William Gurley bought 1 million of the online apparel company's shares at a weighted average of $5.4282 apiece and nearly doubled his stake in the company to nearly 2.15 million shares.
Ambev (ABEV) climbed 6.2% following a JPMorgan upgrade of the Brazilian beer and soft-drinks company to overweight from neutral previously.
Neptune Wellness Solutions (NEPT) rose 12%, reversing a morning decline, after the plant-based foods company said its Sprout Foods baby-foods subsidiary received an extra $15 million in proceeds from a revised loan agreement, with the expanded $3 7.5 million secured promissory note set to mature in February 2024.
Delta Air Lines (DAL) dropped 4.5% on Wednesday after reporting a Q2 profit trailing Wall Street expectations. Excluding one-time items, the carrier earned $1.44 per share during the three months ended June 30, lagging the Capital IQ consensus expecting non-GAAP net income of $1.72 per share.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Ambev (ABEV) climbed 6.2% following a JPMorgan upgrade of the Brazilian beer and soft-drinks company to overweight from neutral previously. Neptune Wellness Solutions (NEPT) rose 12%, reversing a morning decline, after the plant-based foods company said its Sprout Foods baby-foods subsidiary received an extra $15 million in proceeds from a revised loan agreement, with the expanded $3 7.5 million secured promissory note set to mature in February 2024. Delta Air Lines (DAL) dropped 4.5% on Wednesday after reporting a Q2 profit trailing Wall Street expectations. | Ambev (ABEV) climbed 6.2% following a JPMorgan upgrade of the Brazilian beer and soft-drinks company to overweight from neutral previously. Consumer stocks were ending higher during Wednesday trading, with the SPDR Consumer Staples Select Sector ETF (XLP) climbing 0.3% while the SPDR Consumer Discretionary Select Sector ETF (XLY) was adding 1.0%. In company news, Stitch Fix (SFIX) gained 14% after an overnight regulatory filing showed board member J William Gurley bought 1 million of the online apparel company's shares at a weighted average of $5.4282 apiece and nearly doubled his stake in the company to nearly 2.15 million shares. | Ambev (ABEV) climbed 6.2% following a JPMorgan upgrade of the Brazilian beer and soft-drinks company to overweight from neutral previously. Consumer stocks were ending higher during Wednesday trading, with the SPDR Consumer Staples Select Sector ETF (XLP) climbing 0.3% while the SPDR Consumer Discretionary Select Sector ETF (XLY) was adding 1.0%. In company news, Stitch Fix (SFIX) gained 14% after an overnight regulatory filing showed board member J William Gurley bought 1 million of the online apparel company's shares at a weighted average of $5.4282 apiece and nearly doubled his stake in the company to nearly 2.15 million shares. | Ambev (ABEV) climbed 6.2% following a JPMorgan upgrade of the Brazilian beer and soft-drinks company to overweight from neutral previously. Consumer stocks were ending higher during Wednesday trading, with the SPDR Consumer Staples Select Sector ETF (XLP) climbing 0.3% while the SPDR Consumer Discretionary Select Sector ETF (XLY) was adding 1.0%. In company news, Stitch Fix (SFIX) gained 14% after an overnight regulatory filing showed board member J William Gurley bought 1 million of the online apparel company's shares at a weighted average of $5.4282 apiece and nearly doubled his stake in the company to nearly 2.15 million shares. |
28206.0 | 2022-07-13 00:00:00 UTC | Consumer Sector Update for 07/13/2022: DAL, NEPT, NEPT.TO, ABEV | ABEV | https://www.nasdaq.com/articles/consumer-sector-update-for-07-13-2022%3A-dal-nept-nept.to-abev | nan | nan | Consumer stocks were trading higher during Wednesday trading, with the SPDR Consumer Staples Select Sector ETF (XLP) climbing 1.0% while the SPDR Consumer Discretionary Select Sector ETF (XLY) was adding 1.6%.
In company news, Delta Air Lines (DAL) dropped 5.9% on Wednesday after reporting a Q2 profit trailing Wall Street expectations. Excluding one-time items, the carrier earned $1.44 per share during the three months ended June 30, lagging the Capital IQ consensus expecting non-GAAP net income of $1.72 per share.
Neptune Wellness Solutions (NEPT) rose 2.2%, reversing a morning decline, after the plant-based foods company said its Sprout Foods baby-foods subsidiary received an extra $15 million in proceeds from a revised loan agreement, with the expanded $37.5 million secured promissory note set to mature in February 2024.
Ambev (ABEV) climbed 7.4 following a JPMorgan upgrade of the Brazilian beer and soft-drinks company to overweight from neutral previously.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Ambev (ABEV) climbed 7.4 following a JPMorgan upgrade of the Brazilian beer and soft-drinks company to overweight from neutral previously. In company news, Delta Air Lines (DAL) dropped 5.9% on Wednesday after reporting a Q2 profit trailing Wall Street expectations. Neptune Wellness Solutions (NEPT) rose 2.2%, reversing a morning decline, after the plant-based foods company said its Sprout Foods baby-foods subsidiary received an extra $15 million in proceeds from a revised loan agreement, with the expanded $37.5 million secured promissory note set to mature in February 2024. | Ambev (ABEV) climbed 7.4 following a JPMorgan upgrade of the Brazilian beer and soft-drinks company to overweight from neutral previously. Consumer stocks were trading higher during Wednesday trading, with the SPDR Consumer Staples Select Sector ETF (XLP) climbing 1.0% while the SPDR Consumer Discretionary Select Sector ETF (XLY) was adding 1.6%. Neptune Wellness Solutions (NEPT) rose 2.2%, reversing a morning decline, after the plant-based foods company said its Sprout Foods baby-foods subsidiary received an extra $15 million in proceeds from a revised loan agreement, with the expanded $37.5 million secured promissory note set to mature in February 2024. | Ambev (ABEV) climbed 7.4 following a JPMorgan upgrade of the Brazilian beer and soft-drinks company to overweight from neutral previously. Consumer stocks were trading higher during Wednesday trading, with the SPDR Consumer Staples Select Sector ETF (XLP) climbing 1.0% while the SPDR Consumer Discretionary Select Sector ETF (XLY) was adding 1.6%. Neptune Wellness Solutions (NEPT) rose 2.2%, reversing a morning decline, after the plant-based foods company said its Sprout Foods baby-foods subsidiary received an extra $15 million in proceeds from a revised loan agreement, with the expanded $37.5 million secured promissory note set to mature in February 2024. | Ambev (ABEV) climbed 7.4 following a JPMorgan upgrade of the Brazilian beer and soft-drinks company to overweight from neutral previously. Consumer stocks were trading higher during Wednesday trading, with the SPDR Consumer Staples Select Sector ETF (XLP) climbing 1.0% while the SPDR Consumer Discretionary Select Sector ETF (XLY) was adding 1.6%. In company news, Delta Air Lines (DAL) dropped 5.9% on Wednesday after reporting a Q2 profit trailing Wall Street expectations. |
28207.0 | 2022-06-23 00:00:00 UTC | First Week of ABEV August 19th Options Trading | ABEV | https://www.nasdaq.com/articles/first-week-of-abev-august-19th-options-trading | nan | nan | Investors in Ambev SA (Symbol: ABEV) saw new options begin trading this week, for the August 19th expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the ABEV options chain for the new August 19th contracts and identified the following put contract of particular interest.
The put contract at the $2.50 strike price has a current bid of 5 cents. If an investor was to sell-to-open that put contract, they are committing to purchase the stock at $2.50, but will also collect the premium, putting the cost basis of the shares at $2.45 (before broker commissions). To an investor already interested in purchasing shares of ABEV, that could represent an attractive alternative to paying $2.52/share today.
Because the $2.50 strike represents an approximate 1% discount to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the put contract would expire worthless. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 53%. Stock Options Channel will track those odds over time to see how they change, publishing a chart of those numbers on our website under the contract detail page for this contract. Should the contract expire worthless, the premium would represent a 2.00% return on the cash commitment, or 12.81% annualized — at Stock Options Channel we call this the YieldBoost.
Below is a chart showing the trailing twelve month trading history for Ambev SA, and highlighting in green where the $2.50 strike is located relative to that history:
The implied volatility in the put contract example above is 65%.
Meanwhile, we calculate the actual trailing twelve month volatility (considering the last 252 trading day closing values as well as today's price of $2.52) to be 34%. For more put and call options contract ideas worth looking at, visit StockOptionsChannel.com.
Top YieldBoost Puts of the S&P 500 »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Investors in Ambev SA (Symbol: ABEV) saw new options begin trading this week, for the August 19th expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the ABEV options chain for the new August 19th contracts and identified the following put contract of particular interest. To an investor already interested in purchasing shares of ABEV, that could represent an attractive alternative to paying $2.52/share today. | Investors in Ambev SA (Symbol: ABEV) saw new options begin trading this week, for the August 19th expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the ABEV options chain for the new August 19th contracts and identified the following put contract of particular interest. To an investor already interested in purchasing shares of ABEV, that could represent an attractive alternative to paying $2.52/share today. | At Stock Options Channel, our YieldBoost formula has looked up and down the ABEV options chain for the new August 19th contracts and identified the following put contract of particular interest. Investors in Ambev SA (Symbol: ABEV) saw new options begin trading this week, for the August 19th expiration. To an investor already interested in purchasing shares of ABEV, that could represent an attractive alternative to paying $2.52/share today. | At Stock Options Channel, our YieldBoost formula has looked up and down the ABEV options chain for the new August 19th contracts and identified the following put contract of particular interest. Investors in Ambev SA (Symbol: ABEV) saw new options begin trading this week, for the August 19th expiration. To an investor already interested in purchasing shares of ABEV, that could represent an attractive alternative to paying $2.52/share today. |
28208.0 | 2022-06-07 00:00:00 UTC | Tuesday's ETF Movers: XBI, ILF | ABEV | https://www.nasdaq.com/articles/tuesdays-etf-movers%3A-xbi-ilf | nan | nan | In trading on Tuesday, the SPDR S&P Biotech ETF is outperforming other ETFs, up about 2.6% on the day. Components of that ETF showing particular strength include shares of Mirati Therapeutics, up about 27.5% and shares of Scholar Rock Holding, up about 13.3% on the day.
And underperforming other ETFs today is the iShares Latin America 40 ETF, off about 1.5% in Tuesday afternoon trading. Among components of that ETF with the weakest showing on Tuesday were shares of Ambev, lower by about 4.7%, and shares of Stoneco, lower by about 4.4% on the day.
VIDEO: Tuesday's ETF Movers: XBI, ILF
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Components of that ETF showing particular strength include shares of Mirati Therapeutics, up about 27.5% and shares of Scholar Rock Holding, up about 13.3% on the day. Among components of that ETF with the weakest showing on Tuesday were shares of Ambev, lower by about 4.7%, and shares of Stoneco, lower by about 4.4% on the day. VIDEO: Tuesday's ETF Movers: XBI, ILF The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Components of that ETF showing particular strength include shares of Mirati Therapeutics, up about 27.5% and shares of Scholar Rock Holding, up about 13.3% on the day. Among components of that ETF with the weakest showing on Tuesday were shares of Ambev, lower by about 4.7%, and shares of Stoneco, lower by about 4.4% on the day. VIDEO: Tuesday's ETF Movers: XBI, ILF The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In trading on Tuesday, the SPDR S&P Biotech ETF is outperforming other ETFs, up about 2.6% on the day. Components of that ETF showing particular strength include shares of Mirati Therapeutics, up about 27.5% and shares of Scholar Rock Holding, up about 13.3% on the day. Among components of that ETF with the weakest showing on Tuesday were shares of Ambev, lower by about 4.7%, and shares of Stoneco, lower by about 4.4% on the day. | In trading on Tuesday, the SPDR S&P Biotech ETF is outperforming other ETFs, up about 2.6% on the day. Components of that ETF showing particular strength include shares of Mirati Therapeutics, up about 27.5% and shares of Scholar Rock Holding, up about 13.3% on the day. And underperforming other ETFs today is the iShares Latin America 40 ETF, off about 1.5% in Tuesday afternoon trading. |
28209.0 | 2022-05-06 00:00:00 UTC | Monster Beverage (MNST) Q1 Earnings Miss, Sales Top Estimates | ABEV | https://www.nasdaq.com/articles/monster-beverage-mnst-q1-earnings-miss-sales-top-estimates | nan | nan | Monster Beverage Corporation MNST reported a better-than-expected top line in first-quarter 2021, while the bottom line lagged the Zacks Consensus Estimate. Moreover, sales improved year over year, driven by continued strong demand for the energy drinks category. However, the ongoing supply-chain disruptions and elevated aluminum can costs hurt earnings.
Higher freight rates and fuel costs, including costs for the import of aluminum cans, as well as aluminum can costs due to higher aluminum commodity pricing, led to higher cost of sales. The company also witnessed increased costs for ingredients and other input costs, including secondary packaging material, co-packing fees and production inefficiencies, which further hurt the cost of sales. Elevated distribution expenses also impacted operating expenses.
Shares of this Zacks Rank #4 (Sell) company have declined 9% in the past year against the industry’s 12.6% growth.
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Q1 Highlights
Monster Beverage’s earnings of 55 cents per share missed the Zacks Consensus Estimate of 60 cents and declined 6.8% year over year. The bottom line was impacted by inflationary operational costs for aluminum cans, shipping, freight and other inputs.
Net sales of $1,518.6 million improved 22.1% year over year and surpassed the Zacks Consensus Estimate of $1,425 million. Unfavorable currency translations hurt net sales by $32.9 million in the reported quarter.
Net sales to customers outside the United States rose 20.4% to $553.4 million, representing about 36% of the total net sales.
Monster Beverage Corporation Price, Consensus and EPS Surprise
Monster Beverage Corporation price-consensus-eps-surprise-chart | Monster Beverage Corporation Quote
Segmental Performance
Monster Energy Drinks: The segment includes Monster Energy drinks, Reign Total Body Fuel high-performance energy drinks and True North Pure Energy Seltzers. The segment’s net sales increased 20% year over year to $1.4 billion. The segment’s sales included a negative impact of $29.6 million from adverse currency rates.
Strategic Brands: In addition to the affordable energy drink brands, the segment includes a range of energy drink brands acquired from Coca-Cola. The segment’s net sales increased 36.6% year over year to $92.6 million in the first quarter. However, currency tailwinds aided the segment’s sales by $3.3 million.
Alcohol Brands: Net sales for the segment, which includes the various craft beers and hard seltzers purchased as part of the CANarchy transaction on Feb 17, 2022, were $15.2 million in the first quarter.
Other: Net sales for the segment, which includes some products of American Fruits & Flavors sold to independent third-parties (AFF Third-Party Products), rose 3.5% year over year to $5.9 million.
Costs & Margins
The company’s first-quarter 2022 gross margin contracted 640 basis points (bps) to 51.1% on higher freight rates and fuel costs, offset by pricing actions. The higher freight rates and fuel costs included costs for the import of aluminum cans and elevated aluminum can costs due to higher aluminum commodity pricing. Higher ingredient and other input costs resulted from higher secondary packaging materials, increased co-packing fees, production inefficiencies and geographical sales mix.
Operating expenses grew 25.4% year over year to $377.2 million. The increase can be attributed to higher outbound freight, freight inefficiencies and warehouse costs; elevated expenditure for travel and entertainment; higher payroll costs; increased professional service expenses, including accounting and legal costs; and increased commissions, sponsorships and endorsements.
As a percentage of sales, operating expenses increased 60 bps to 24.8%. Higher operating expense rates mainly resulted from increased distribution costs, and general and administrative expense rate. Selling expenses, as a percentage of net sales, declined 60 bps to 8.6%. Distribution costs, as a percentage of net sales, increased 100 bps to 5.4%. General and administrative expenses, as a percentage of net sales, rose 30 bps year over year to 10.9%.
Operating income of $399.5 million declined 3.5% year over year, driven by the company’s operations in EMEA and the Asia Pacific. The operating margin contracted 700 bps to 26.3% for the reported quarter.
Other Financials
Monster Beverage ended first-quarter 2022 with cash and cash equivalents of $1,014.8 million, and total stockholders' equity of $6,866.7 million. Short-term investments as of Mar 31, 2022, were $1,717.6 million, whereas long-term investments were $65.7 million.
In the reported quarter, the company did not buy back any shares. As of May 5, 2022, it had $441.5 million remaining under the previously authorized share repurchase plan.
Stocks to Consider
We highlighted some better-ranked stocks from the broader Consumer Staples space, namely Archer Daniels Midland ADM, The Duckhorn Portfolio NAPA and Ambev ABEV.
Archer Daniels, one of the leading producers of food and beverage ingredients, as well as goods made from various agricultural products, presently flaunts a Zacks Rank #1 (Strong Buy). The ADM stock has rallied 33.4% in the past year.
You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Archer Daniels’ sales and EPS for the current financial year suggests growth of 10.1% and 15.4%, respectively, from the year-ago reported levels. ADM has a trailing four-quarter earnings surprise of 22.3%, on average. ADM has an expected EPS growth rate of 6.4% for three to five years.
Duckhorn currently has a Zacks Rank #2 (Buy) and an expected long-term earnings growth rate of 11.3%. NAPA has a trailing four-quarter earnings surprise of 122.4%, on average. The company has gained 8.6% in the past year.
The Zacks Consensus Estimate for Duckhorn’s current financial-year sales and earnings per share suggests growth of 9.6% and 3.5%, respectively, from the year-ago reported numbers. The consensus mark for NAPA’s earnings per share has been unchanged in the past 30 days.
Ambev currently has a Zacks Rank of 2. ABEV has a trailing four-quarter earnings surprise of 3.3%, on average. It has a long-term earnings growth rate of 9.6%. The company has declined 13.2% in the past year.
The Zacks Consensus Estimate for Ambev’s current financial-year sales and earnings suggests growth of 33.8% and 6.7%, respectively, from the prior-year reported number. The consensus mark for ABEV’s earnings per share has moved up by a penny in the past 30 days.
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Archer Daniels Midland Company (ADM): Free Stock Analysis Report
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Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Stocks to Consider We highlighted some better-ranked stocks from the broader Consumer Staples space, namely Archer Daniels Midland ADM, The Duckhorn Portfolio NAPA and Ambev ABEV. ABEV has a trailing four-quarter earnings surprise of 3.3%, on average. The consensus mark for ABEV’s earnings per share has moved up by a penny in the past 30 days. | Stocks to Consider We highlighted some better-ranked stocks from the broader Consumer Staples space, namely Archer Daniels Midland ADM, The Duckhorn Portfolio NAPA and Ambev ABEV. ABEV has a trailing four-quarter earnings surprise of 3.3%, on average. The consensus mark for ABEV’s earnings per share has moved up by a penny in the past 30 days. | Stocks to Consider We highlighted some better-ranked stocks from the broader Consumer Staples space, namely Archer Daniels Midland ADM, The Duckhorn Portfolio NAPA and Ambev ABEV. ABEV has a trailing four-quarter earnings surprise of 3.3%, on average. The consensus mark for ABEV’s earnings per share has moved up by a penny in the past 30 days. | Stocks to Consider We highlighted some better-ranked stocks from the broader Consumer Staples space, namely Archer Daniels Midland ADM, The Duckhorn Portfolio NAPA and Ambev ABEV. ABEV has a trailing four-quarter earnings surprise of 3.3%, on average. The consensus mark for ABEV’s earnings per share has moved up by a penny in the past 30 days. |
28210.0 | 2022-05-03 00:00:00 UTC | FEMSA (FMX) Q1 Earnings Lag Estimates, Revenues Surpass | ABEV | https://www.nasdaq.com/articles/femsa-fmx-q1-earnings-lag-estimates-revenues-surpass | nan | nan | Fomento Economico Mexicano S.A.B. de C.V’s FMX, alias FEMSA, reported net majority earnings per ADS of 56 cents (Ps. 1.11 per FEMSA unit) in first-quarter 2022, missing the Zacks Consensus Estimate of 94 cents.
Net consolidated income was Ps. 5,848 million (US$285 million), reflecting a decline from Ps. 6,260 million (US$308.1 million) reported in the year-ago quarter. The improvement can primarily be attributed to reduced interest expenses and increased participation in associates’ results, mainly Heineken’s.
Total revenues were $7,199 million (Ps. 147,636 million), which improved 18.6% year over year and 27.3% from first-quarter 2019 in the local currency. Revenues, in U.S. dollar, beat the Zacks Consensus Estimate of $6,834 million. Revenue growth was driven by gains across all business units. On an organic basis, total revenues rose 15.2%.
Shares of the Zacks Rank #3 (Hold) company have dipped 0.9% in the past three months compared with the industry’s growth of 0.6%.
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FEMSA’s gross profit rose 17.1% year over year to Ps. 54,469 million (US$2,654.4 million). The consolidated gross margin contracted 50 basis points (bps) to 36.9%, owing to the gross margin contraction of 40 bps at FEMSA Comercio’s Fuel Division and 50 bps at Coca-Cola FEMSA S.A.B. de C.V. KOF, partly offset by margin expansion of 110 bps at FEMSA Comercio’s Proximity Division, 60 bps at Health Division and 110 bps at the Logistics & Distribution business.
FEMSA’s operating income (income from operations) was up 24.9% year over year to Ps. 11,892 million (US$579.5 million). On an organic basis, operating income improved 22.2%. The consolidated operating margin expanded 40 bps to 8.1%, driven by margin expansion across all business units.
Fomento Economico Mexicano S.A.B. de C.V. Price, Consensus and EPS Surprise
Fomento Economico Mexicano S.A.B. de C.V. price-consensus-eps-surprise-chart | Fomento Economico Mexicano S.A.B. de C.V. Quote
Segmental Discussion
FEMSA Comercio — Proximity Division: Total revenues for the segment rose 15% year over year to Ps. 49,918 million (US$2,432.7 million). The increase can primarily be attributed to a 12.7% rise in same-store sales on 1.8% growth in store traffic and a 10.7% increase in average ticket. FEMSA Comercio’s Proximity division had 20,500 OXXO stores as of Mar 31, 2022. Operating income accelerated 54.6% year over year, while the operating margin expanded 190 bps to 7.5%, owing to higher operating leverage.
FEMSA Comercio — Health Division: The segment reported total revenues of Ps. 18,657 million (US$909.2 million), up 5.1% year over year. Revenues benefited from favorable trends in Mexico and Colombia operations as well as higher consumption in Chile. This was partly offset by negative currency translations. On a currency-neutral basis, total revenues increased 12.5%, whereas same-store sales increased 9.5%. The segment had 3,718 points of sales across all regions as of Mar 31, 2022. The operating income improved 31.7% year over year, while the operating margin rose 110 bps to 5.7%. The increase can be attributed to tight expense control and efficiency gains across its operations.
FEMSA Comercio — Fuel Division: Total revenues rose 27.7% to Ps. 10,894 million (US$530.9 million). Same-station sales improved 18.5%, driven by a 9.6% increase in the average volume and 8.1% growth in the average price per liter. The company had 569 OXXO GAS service stations as of Mar 31, reflecting the addition of two stations in the reported quarter. Operating income advanced 81.3% and the operating margin expanded 110 bps to 3.5%.
Logistics and Distribution: Total revenues for the segment were Ps. 16,032 million (US$781.3 million), up 48.3% year over year. On an organic basis, revenues increased 12.2%. Revenues reflected positive demand trends across several categories in the United States as well as strong growth of warehouse management operations in Latin America. The segment’s operating income increased 101.1%, whereas the operating margin expanded 120 bps to 4.6%.
Coca-Cola FEMSA: Total revenues for the segment advanced 14.6% year over year to Ps. 51,195 million (US$2,494.9 million). Revenues were mainly aided by improved volume, pricing initiatives, a positive price mix and favorable currency translation effects.
On a comparable basis, revenues improved 13.4% year over year. Coca-Cola FEMSA’s consolidated operating income increased 16% and comparable operating income rose 13.9%. The segment’s operating margin expanded 20 bps to 13.4%, driven by robust sales growth, operating expense efficiencies and an operating foreign currency gain. This was partly negated by higher raw material prices.
Financial Position
FEMSA had cash and cash equivalents of Ps. 93,222 million (US$4,663.4 million) as of Mar 31, 2022. Long-term debt was Ps. 174,858 million (US$8,747.3 million). The company incurred a capital expenditure of Ps. 6,092 million (US$296.9 million) in the first quarter, reflecting higher investments in most businesses.
Other Developments
On Feb 28, 2022, FEMSA completed the acquisition of the previously announced OK Market. The small-format proximity store chain in Chile added 131 locations to FEMSA’s proximity business, reaching 258 locations.
On Mar 20, the company acquired ATRA Janitorial Supply Co., Inc. in the United States through its Envoy Solutions subsidiary. ATRA Janitorial recorded $16 million in sales every year prior to the acquisition.
On Apr 12, Envoy Solutions subsidiary agreed to acquire Sigma Supply of North America Inc., an independent specialized distribution company based in Hot Springs, AR. This marks another step in FEMSA’s strategy of building a national distribution platform in the United States. Sigma operates 18 distribution centers, which will expand Envoy’s distribution network to include almost 70 facilities in 34 states. Sigma generated sales of $370 million in 2021. The transaction is subject to customary closing conditions and is anticipated to be completed in second-quarter 2022.
Stocks to Consider
We highlighted some better-ranked stocks from the broader Consumer Staples space, namely The Duckhorn Portfolio NAPA and Ambev S.A. ABEV.
Duckhorn currently has a Zacks Rank #2 (Buy) and an expected long-term earnings growth rate of 11.3%. NAPA has a trailing four-quarter earnings surprise of 122.4%, on average. The company has gained 0.3% in the past three months.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for Duckhorn’s current financial-year sales and earnings per share suggests growth of 9.6% and 3.5%, respectively, from the year-ago reported numbers. The consensus mark for NAPA’s earnings per share has been unchanged in the past 30 days.
Ambev currently has a Zacks Rank of 2. ABEV has a trailing four-quarter earnings surprise of 3.3%, on average. It has a long-term earnings growth rate of 9.6%. The company has gained 4% in the past three months.
The Zacks Consensus Estimate for Ambev’s current financial-year sales and earnings suggests declines of 33.8% and 6.7%, respectively, from the prior-year reported number. The consensus mark for ABEV’s earnings per share has moved up by a penny in the past 30 days.
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Fomento Economico Mexicano S.A.B. de C.V. (FMX): Free Stock Analysis Report
Coca Cola Femsa S.A.B. de C.V. (KOF): Free Stock Analysis Report
Ambev S.A. (ABEV): Free Stock Analysis Report
The Duckhorn Portfolio, Inc. (NAPA): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Stocks to Consider We highlighted some better-ranked stocks from the broader Consumer Staples space, namely The Duckhorn Portfolio NAPA and Ambev S.A. ABEV. ABEV has a trailing four-quarter earnings surprise of 3.3%, on average. The consensus mark for ABEV’s earnings per share has moved up by a penny in the past 30 days. | Stocks to Consider We highlighted some better-ranked stocks from the broader Consumer Staples space, namely The Duckhorn Portfolio NAPA and Ambev S.A. ABEV. ABEV has a trailing four-quarter earnings surprise of 3.3%, on average. The consensus mark for ABEV’s earnings per share has moved up by a penny in the past 30 days. | Stocks to Consider We highlighted some better-ranked stocks from the broader Consumer Staples space, namely The Duckhorn Portfolio NAPA and Ambev S.A. ABEV. ABEV has a trailing four-quarter earnings surprise of 3.3%, on average. The consensus mark for ABEV’s earnings per share has moved up by a penny in the past 30 days. | Stocks to Consider We highlighted some better-ranked stocks from the broader Consumer Staples space, namely The Duckhorn Portfolio NAPA and Ambev S.A. ABEV. ABEV has a trailing four-quarter earnings surprise of 3.3%, on average. The consensus mark for ABEV’s earnings per share has moved up by a penny in the past 30 days. |
28211.0 | 2022-04-28 00:00:00 UTC | Is Ambev (ABEV) Stock Outpacing Its Consumer Staples Peers This Year? | ABEV | https://www.nasdaq.com/articles/is-ambev-abev-stock-outpacing-its-consumer-staples-peers-this-year | nan | nan | Investors interested in Consumer Staples stocks should always be looking to find the best-performing companies in the group. Is Ambev (ABEV) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Consumer Staples sector should help us answer this question.
Ambev is a member of our Consumer Staples group, which includes 195 different companies and currently sits at #15 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Ambev is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for ABEV's full-year earnings has moved 14.8% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, ABEV has gained about 4.3% so far this year. At the same time, Consumer Staples stocks have lost an average of 1.8%. This means that Ambev is outperforming the sector as a whole this year.
One other Consumer Staples stock that has outperformed the sector so far this year is Archer Daniels Midland (ADM). The stock is up 39% year-to-date.
For Archer Daniels Midland, the consensus EPS estimate for the current year has increased 9.4% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Ambev belongs to the Beverages - Alcohol industry, which includes 17 individual stocks and currently sits at #143 in the Zacks Industry Rank. This group has lost an average of 3.2% so far this year, so ABEV is performing better in this area.
In contrast, Archer Daniels Midland falls under the Agriculture - Operations industry. Currently, this industry has 13 stocks and is ranked #64. Since the beginning of the year, the industry has moved +8.1%.
Investors interested in the Consumer Staples sector may want to keep a close eye on Ambev and Archer Daniels Midland as they attempt to continue their solid performance.
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Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Is Ambev (ABEV) one of those stocks right now? Over the past three months, the Zacks Consensus Estimate for ABEV's full-year earnings has moved 14.8% higher. Based on the latest available data, ABEV has gained about 4.3% so far this year. | Ambev S.A. (ABEV): Free Stock Analysis Report Is Ambev (ABEV) one of those stocks right now? Over the past three months, the Zacks Consensus Estimate for ABEV's full-year earnings has moved 14.8% higher. | Is Ambev (ABEV) one of those stocks right now? Over the past three months, the Zacks Consensus Estimate for ABEV's full-year earnings has moved 14.8% higher. Based on the latest available data, ABEV has gained about 4.3% so far this year. | Is Ambev (ABEV) one of those stocks right now? Over the past three months, the Zacks Consensus Estimate for ABEV's full-year earnings has moved 14.8% higher. Based on the latest available data, ABEV has gained about 4.3% so far this year. |
28212.0 | 2022-04-26 00:00:00 UTC | PepsiCo (PEP) Tops Q1 Earnings & Revenue Estimates, Ups View | ABEV | https://www.nasdaq.com/articles/pepsico-pep-tops-q1-earnings-revenue-estimates-ups-view | nan | nan | PepsiCo, Inc. PEP has reported robust first-quarter 2022 results, wherein revenues and earnings beat the Zacks Consensus Estimate. Both top and bottom lines improved year over year. The company continued to benefit from investments in brands, go-to-market systems, supply chains, manufacturing capacity and digital capabilities to build competitive advantages. It also gained from the resilience and strength in the global beverage and convenient food businesses.
Shares of the Zacks Rank #4 (Sell) company have risen 21.6% in the past year compared with the industry’s 13% rally.
Image Source: Zacks Investment Research
Quarter in Detail
PepsiCo’s first-quarter core EPS of $1.29 beat the Zacks Consensus Estimate of $1.24 and increased 6.6% year over year. In constant currency, core earnings were up 7% from the year-ago period, backed by mitigation of inflationary pressures through cost-management and revenue-management initiatives. The company’s reported EPS of $3.06 grew 148% year over year in the quarter.
Net revenues of $16,200 million improved 9.3% year over year and surpassed the Zacks Consensus Estimate of $15,622 million. Revenues benefited from volume growth and robust price/mix in the reported quarter. Unit volume improved 3% and 6% year over year for the convenient food and beverage businesses, respectively. Foreign currency impacted revenues by 1%.
On an organic basis, revenues grew 13.7% year over year, driven by broad-based growth across categories and geographies. Consolidated organic volume was up 3% and effective net pricing improved 10% in the first quarter. Pricing gains were driven by strong realized prices across all segments.
PepsiCo, Inc. Price, Consensus and EPS Surprise
PepsiCo, Inc. price-consensus-eps-surprise-chart | PepsiCo, Inc. Quote
Revenues were aided by acceleration across both global beverage and convenient food businesses. On a year-over-year basis, organic revenues grew 13% for the beverage business and 14% for the convenient food business. Region-wise, organic revenues improved 13% for the North America business and 15% for the international business.
On a consolidated basis, the reported gross profit increased 7.6% year over year to $8,767 million. Core gross profit rose 9% year over year to $8,879 million. The reported gross margin contracted 90 basis points (bps), while the core gross margin expanded 5 bps.
The reported operating income of $5,267 million rose 127.8% year over year. Core operating income rose 6% year over year to $2,392 million and core constant-currency operating income fell 4%. The reported operating margin improved significantly to 32.5% from 15.6% in the year-ago quarter mainly due to the inclusion of gains from the Juice transaction. Meanwhile, the core operating margin declined 50 bps.
Segment Details
On a segmental basis, the company witnessed revenue growth across all segments. Revenues for the Europe segment remained flat with the last year on a reported basis. Organic revenues also ascended for all segments.
Revenues, on a reported basis, improved 14% in FLNA, 11% in QFNA, 5.5% in PBNA, 19% in Latin America, 14% in AMESA and 8% in APAC. Organic revenues increased 14% for FLNA, 11% for QFNA, 13% for PBNA, 22% for Latin America, 11% for Europe, 18% for AMESA and 9% for APAC.
Operating profit (on a reported basis) increased 4.5% for FLNA, 6% for QFNA, 839% for PBNA, 48% for Latin America, 30% for AMESA and 3% for APAC. Yet, it declined 204% for Europe.
Financials
The company ended first-quarter 2022, with cash and cash equivalents of $6,561 million, long-term debt of $34,590 million, and shareholders’ equity (excluding non-controlling interest) of $18,202 million.
Net cash used in operating activities was $174 million as of Mar 19, 2022, compared with $719 million as of Mar 20, 2021.
Outlook
Looking ahead, PepsiCo is optimistic about its strong position in growing the global categories, which is likely to help steer the ongoing challenging operating environment. It expects to benefit by delivering convenience, variety and value proposition to customers through its brands. However, the company anticipates higher input cost inflation for the balance of 2022.
Given the strength and resilience of its businesses, PepsiCo expects organic revenue growth of 8% for 2022 compared with 6% growth mentioned earlier. The company expects core constant-currency earnings per share to increase 8% from a year ago.
Based on the above assumption, it now estimates core earnings per share of $6.63 for 2022, suggesting a 6% increase from $6.26 reported in 2021. It earlier anticipated core earnings per share of $6.67 for 2022, indicating a 6.5% increase. PEP expects currency headwinds to hurt revenues and core earnings per share by 2 percentage points in 2022, based on the current rates. The company continues to expect a core effective tax rate of 20%.
PepsiCo remains committed to rewarding shareholders through dividends and share buybacks. The company anticipates total cash returns to shareholders of $7.7 million, including $6.2 million of cash dividends and $1.5 billion of share repurchases.
Don’t Miss These Better-Ranked Stocks
We highlighted some better-ranked stocks from the broader Consumer Staples space, namely The Duckhorn Portfolio NAPA, Ambev S.A. ABEV and Dutch Bros BROS.
Duckhorn currently has a Zacks Rank #2 (Buy) and an expected long-term earnings growth rate of 11.3%. NAPA has a trailing four-quarter earnings surprise of 122.4%, on average. The company has gained 7.1% in the past year.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for Duckhorn’s current financial-year sales and earnings per share suggests growth of 9.6% and 3.5%, respectively, from the year-ago reported numbers. The consensus mark for NAPA’s earnings per share has been unchanged in the past 30 days.
Ambev currently has a Zacks Rank of 2. ABEV has a trailing four-quarter earnings surprise of 3.3%, on average. It has a long-term earnings growth rate of 7.9%. The company has gained 8.5% in the past year.
The Zacks Consensus Estimate for Ambev’s current financial-year sales and earnings suggests declines of 33.8% and 6.7%, respectively, from the prior-year reported number. The consensus mark for ABEV’s earnings per share has moved up by a penny in the past seven days.
Dutch Bros currently has a Zacks Rank #2. BROS has a trailing two-quarter earnings surprise of 93.75%, on average. It has an expected long-term earnings growth rate of 35.9%. The company has gained 43.9% in the past year.
The Zacks Consensus Estimate for Dutch Bros’ current financial-year sales and earnings per share suggests growth of 42.7% and 3.3%, respectively, from the year-ago reported numbers. The consensus mark for BROS’ earnings per share has moved down by a penny in the past 30 days.
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Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Don’t Miss These Better-Ranked Stocks We highlighted some better-ranked stocks from the broader Consumer Staples space, namely The Duckhorn Portfolio NAPA, Ambev S.A. ABEV and Dutch Bros BROS. ABEV has a trailing four-quarter earnings surprise of 3.3%, on average. The consensus mark for ABEV’s earnings per share has moved up by a penny in the past seven days. | Don’t Miss These Better-Ranked Stocks We highlighted some better-ranked stocks from the broader Consumer Staples space, namely The Duckhorn Portfolio NAPA, Ambev S.A. ABEV and Dutch Bros BROS. ABEV has a trailing four-quarter earnings surprise of 3.3%, on average. The consensus mark for ABEV’s earnings per share has moved up by a penny in the past seven days. | Don’t Miss These Better-Ranked Stocks We highlighted some better-ranked stocks from the broader Consumer Staples space, namely The Duckhorn Portfolio NAPA, Ambev S.A. ABEV and Dutch Bros BROS. ABEV has a trailing four-quarter earnings surprise of 3.3%, on average. The consensus mark for ABEV’s earnings per share has moved up by a penny in the past seven days. | Don’t Miss These Better-Ranked Stocks We highlighted some better-ranked stocks from the broader Consumer Staples space, namely The Duckhorn Portfolio NAPA, Ambev S.A. ABEV and Dutch Bros BROS. ABEV has a trailing four-quarter earnings surprise of 3.3%, on average. The consensus mark for ABEV’s earnings per share has moved up by a penny in the past seven days. |
28213.0 | 2022-04-22 00:00:00 UTC | ABEV or DEO: Which Is the Better Value Stock Right Now? | ABEV | https://www.nasdaq.com/articles/abev-or-deo%3A-which-is-the-better-value-stock-right-now-0 | nan | nan | Investors interested in Beverages - Alcohol stocks are likely familiar with Ambev (ABEV) and Diageo (DEO). But which of these two stocks presents investors with the better value opportunity right now? Let's take a closer look.
Everyone has their own methods for finding great value opportunities, but our model includes pairing an impressive grade in the Value category of our Style Scores system with a strong Zacks Rank. The Zacks Rank favors stocks with strong earnings estimate revision trends, and our Style Scores highlight companies with specific traits.
Currently, Ambev has a Zacks Rank of #2 (Buy), while Diageo has a Zacks Rank of #3 (Hold). Investors should feel comfortable knowing that ABEV likely has seen a stronger improvement to its earnings outlook than DEO has recently. But this is just one piece of the puzzle for value investors.
Value investors also tend to look at a number of traditional, tried-and-true figures to help them find stocks that they believe are undervalued at their current share price levels.
The Style Score Value grade factors in a variety of key fundamental metrics, including the popular P/E ratio, P/S ratio, earnings yield, cash flow per share, and a number of other key stats that are commonly used by value investors.
ABEV currently has a forward P/E ratio of 20.07, while DEO has a forward P/E of 27.42. We also note that ABEV has a PEG ratio of 2.55. This figure is similar to the commonly-used P/E ratio, with the PEG ratio also factoring in a company's expected earnings growth rate. DEO currently has a PEG ratio of 3.15.
Another notable valuation metric for ABEV is its P/B ratio of 3.14. The P/B is a method of comparing a stock's market value to its book value, which is defined as total assets minus total liabilities. By comparison, DEO has a P/B of 9.42.
These metrics, and several others, help ABEV earn a Value grade of B, while DEO has been given a Value grade of D.
ABEV is currently sporting an improving earnings outlook, which makes it stick out in our Zacks Rank model. And, based on the above valuation metrics, we feel that ABEV is likely the superior value option right now.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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Ambev S.A. (ABEV): Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Investors interested in Beverages - Alcohol stocks are likely familiar with Ambev (ABEV) and Diageo (DEO). Investors should feel comfortable knowing that ABEV likely has seen a stronger improvement to its earnings outlook than DEO has recently. ABEV currently has a forward P/E ratio of 20.07, while DEO has a forward P/E of 27.42. | Ambev S.A. (ABEV): Free Stock Analysis Report Investors interested in Beverages - Alcohol stocks are likely familiar with Ambev (ABEV) and Diageo (DEO). Investors should feel comfortable knowing that ABEV likely has seen a stronger improvement to its earnings outlook than DEO has recently. | Investors interested in Beverages - Alcohol stocks are likely familiar with Ambev (ABEV) and Diageo (DEO). These metrics, and several others, help ABEV earn a Value grade of B, while DEO has been given a Value grade of D. ABEV is currently sporting an improving earnings outlook, which makes it stick out in our Zacks Rank model. Investors should feel comfortable knowing that ABEV likely has seen a stronger improvement to its earnings outlook than DEO has recently. | Investors interested in Beverages - Alcohol stocks are likely familiar with Ambev (ABEV) and Diageo (DEO). Investors should feel comfortable knowing that ABEV likely has seen a stronger improvement to its earnings outlook than DEO has recently. ABEV currently has a forward P/E ratio of 20.07, while DEO has a forward P/E of 27.42. |
28214.0 | 2022-04-06 00:00:00 UTC | ABEV vs. DEO: Which Stock Should Value Investors Buy Now? | ABEV | https://www.nasdaq.com/articles/abev-vs.-deo%3A-which-stock-should-value-investors-buy-now | nan | nan | Investors interested in Beverages - Alcohol stocks are likely familiar with Ambev (ABEV) and Diageo (DEO). But which of these two stocks is more attractive to value investors? We'll need to take a closer look to find out.
There are plenty of strategies for discovering value stocks, but we have found that pairing a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system produces the best returns. The proven Zacks Rank puts an emphasis on earnings estimates and estimate revisions, while our Style Scores work to identify stocks with specific traits.
Ambev has a Zacks Rank of #2 (Buy), while Diageo has a Zacks Rank of #4 (Sell) right now. This means that ABEV's earnings estimate revision activity has been more impressive, so investors should feel comfortable with its improving analyst outlook. However, value investors will care about much more than just this.
Value investors are also interested in a number of tried-and-true valuation metrics that help show when a company is undervalued at its current share price levels.
Our Value category grades stocks based on a number of key metrics, including the tried-and-true P/E ratio, the P/S ratio, earnings yield, and cash flow per share, as well as a variety of other fundamentals that value investors frequently use.
ABEV currently has a forward P/E ratio of 22.07, while DEO has a forward P/E of 27.90. We also note that ABEV has a PEG ratio of 2.81. This figure is similar to the commonly-used P/E ratio, with the PEG ratio also factoring in a company's expected earnings growth rate. DEO currently has a PEG ratio of 3.39.
Another notable valuation metric for ABEV is its P/B ratio of 3.23. Investors use the P/B ratio to look at a stock's market value versus its book value, which is defined as total assets minus total liabilities. By comparison, DEO has a P/B of 9.64.
These are just a few of the metrics contributing to ABEV's Value grade of B and DEO's Value grade of D.
ABEV is currently sporting an improving earnings outlook, which makes it stick out in our Zacks Rank model. And, based on the above valuation metrics, we feel that ABEV is likely the superior value option right now.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Ambev S.A. (ABEV): Free Stock Analysis Report
Diageo plc (DEO): Free Stock Analysis Report
To read this article on Zacks.com click here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | This means that ABEV's earnings estimate revision activity has been more impressive, so investors should feel comfortable with its improving analyst outlook. Investors interested in Beverages - Alcohol stocks are likely familiar with Ambev (ABEV) and Diageo (DEO). ABEV currently has a forward P/E ratio of 22.07, while DEO has a forward P/E of 27.90. | Ambev S.A. (ABEV): Free Stock Analysis Report Investors interested in Beverages - Alcohol stocks are likely familiar with Ambev (ABEV) and Diageo (DEO). This means that ABEV's earnings estimate revision activity has been more impressive, so investors should feel comfortable with its improving analyst outlook. | Investors interested in Beverages - Alcohol stocks are likely familiar with Ambev (ABEV) and Diageo (DEO). These are just a few of the metrics contributing to ABEV's Value grade of B and DEO's Value grade of D. ABEV is currently sporting an improving earnings outlook, which makes it stick out in our Zacks Rank model. This means that ABEV's earnings estimate revision activity has been more impressive, so investors should feel comfortable with its improving analyst outlook. | Another notable valuation metric for ABEV is its P/B ratio of 3.23. Investors interested in Beverages - Alcohol stocks are likely familiar with Ambev (ABEV) and Diageo (DEO). This means that ABEV's earnings estimate revision activity has been more impressive, so investors should feel comfortable with its improving analyst outlook. |
28215.0 | 2022-04-01 00:00:00 UTC | 7 Cheap Stocks Under $10 to Buy for April 2022 | ABEV | https://www.nasdaq.com/articles/7-cheap-stocks-under-%2410-to-buy-for-april-2022 | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Banco Santander Brasil (NYSE:BSBR): Healthy upside with its geographically diverse operations
Lloyds Banking Group (LYG): Massive profits point to higher shareholder rewards
Sirius XM (SIRI): Free cash flow-generating machine with a commitment to shareholder rewards
Ambev (ABEV): Re-opening tailwinds point to a strong comeback this year
Latch (LTCH): Disruptive business which is just getting started in its growth story
Nokia (NOK): A potential 5G king, which can push on to greater heights
Telefonica (TEF): After its restructuring, the business is more streamlined than ever
The S&P 500 index is off to a lackluster start. Since January, the index has shed close to 5%, while the opposite was true from the prior-year period. Hence, you are likely to see a plethora of cheap stocks trading for less than $10 due to the market pullback. Not all of these are worth a wager, though I’ve curated a list of hidden gems that could offer tremendous returns down the line.
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Stocks trading at lower price points are usually speculative. However, plenty of names have fallen out of favor with investors for unfounded reasons. Hence, picking up cheaply valued stocks with robust outlooks is perhaps the best strategy to gain substantial upside benefits. With all of these priced at under $10, maybe it’s time to follow the advice of the man whose picture is on the bill and “take your shot.”
BSBR Banco Santander Brasil SA (ADR) $7.70
LYG Lloyds Banking Group $2.41
SIRI Sirius XM $6.62
ABEV Ambev $3.23
LTCH Latch $4.27
NOK Nokia $5.46
TEF Telefonica $4.80
Stocks Under $10 to Buy: Banco Santander Brasil SA (ADR) (BSBR)
Source: Shutterstock
Banco Santander (NYSE:BSBR) is one of the top banking institutions globally, across multiple countries. It dominates its key markets and is a leader in commercial and loan services in countries such as Spain, Poland and Italy.
With its acquisition of Sovereign Bancorp, it also has its presence in the United States. Additionally, it has a healthy market share in terms of deposits in the United Kingdom with its partners. Also, it has strong exposure to Latin America, which includes some of the top emerging markets.
The bank’s fundamentals are solid, boasting double-digit growth in its net income margin and sales growth this year. Additionally, cash from operations for the trailing twelve months is a remarkable $56.7 billion.
Hence, with its geographically diverse operations and encouraging performance of late, it is one of the few European banks with tremendous upside potential.
Lloyds Banking Group (LYG)
Source: Tomasz Bidermann / Shutterstock.com
Lloyds Banking Group (NYSE:LYG) is one of the leading British financial services organizations with GBP 886.5 billion ($1.16 trillion) in total assets.
Last year’s performance showed immense promise, spurred by the faster-than-expected recovery in the U.K. economy. As a result, the bank generated a mammoth GBP 8.04 billion in underlying profit compared with GBP 2.19 billion during the same period last year. Moreover, it generated over 10% returns on common equity for its investors last year.
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The impressive turnaround is likely to translate into strong growth this year despite the headwinds. It plans to implement a GBP 2.0 billion share buyback by December, and higher dividend payouts should follow suit.
It boasts a spectacular forward dividend yield of over 5.3%, which dwarfs most in its sector.
Stocks Under $10 to Buy: Sirius XM (SIRI)
Source: Shutterstock
Sirius XM Holdings (NASDAQ:SIRI) is an American satellite and music streaming service. The company was formed via a merger of Sirius Broadcasting and XM Satellite Radio a decade or so ago.
Since then, its business has been booming, with revenues growing consistently. Last year, it capped off with an impressive 8% jump in sales to $8.7 billion. Moreover, it swung from a massive $677 million loss in 2020 to a profit of $318 million last year.
Furthermore, the company has grown its audience of paying subscribers by at least a million in the past decade. It started the year off with a record 32 million users, and its recently released guidance calls for a million new additions this year.
Also, Sirius XM has been a money minting machine generating a marvelous $1.83 billion in free cash flows last year. It plans to return a huge chunk of its money to its shareholders through buybacks and distributions.
In doing so, it recently announced a $1 billion special dividend. Moreover, SIRI stock trades at a steal at just 2.9 times forward sales.
Ambev (ABEV)
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Brazil-based Ambev (NYSE:ABEV) is the biggest brewer in the Latin American region. The company benefits from the vigorous demand for its portfolio of beverages across Latin America and Brazil. It boasts a rock-solid balance sheet and recurring profitability, which gives it an edge over its competition.
The coronavirus-led headwinds weighed down its performance considerably in the past couple of years. However, as the pandemic fades, it’s likely to build strong momentum with the reopening of its commercial channels such as restaurants and bars.
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Moreover, it maintains an attractive dividend policy paying at least 40% of its adjusted earnings. Also, it yields over 4%, which is another added sweetener.
Stocks Under $10 to Buy: Latch (LTCH)
Source: Gorodenkoff / Shutterstock
Latch (NASDAQ:LTCH) develops integrated software and hardware systems for apartment buildings and offices.
Business skyrocketed last year, with bookings up 118%. Moreover, revenues were up 129% to $41.4 million in 2021. The company’s business model is that it builds the hardware for its customers and combines that with its software offerings to offer a recurring revenue stream. Hence, LTCH stock ticks off all the right boxes into a disruptive growth stock.
Though its business is still relatively small, it could see incredible top-line expansion if it can grow its business across North America and internationally.
Nokia (NOK)
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Once a market-leading mobile developer, Nokia (NYSE:NOK) has become a juggernaut in the global telecom equipment market.
It has a 15% market share in the telecom equipment market, which continues to grow every year. 5G has proven to be a game-changer for the company. According to Nokia, 5G could contribute up to $8 trillion to the world’s GDP by 2030.
The company has quickly established its presence in the sector, with multiple multi-year contracts lined up. For instance, it extended its partnership with T-Mobile Polska in modernizing its network infrastructure. That’s just one of over 200 commercial deals it’s signed in the past couple of years which will boost growth for the foreseeable future.
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To be sure, it may have some explaining to do as it exits business operations in Russia, while leaving in place the equipment and software that connect Moscow’s largest telecommunications network with the Kremlin’s digital surveillance apparatus. But that’s not likely to have a significant — if any — impact on NOK stock.
Stocks Under $10 to Buy: Telefonica S.A. (ADR) (TEF)
Telefonica (NYSE:TEF) is one of the top telcos in the European and Latin American regions. In most of its markets, the company occupies a leadership position. Moreover, in most of its legacy markets, such as Spain, the U.K., and Germany, it sees a strong uptick in revenue growth.
In the past few years, the company has struggled with the sheer size of its business and the lack of a strategic direction. It has restructured its business in correcting these issues, spinning off its non-Brazil Hispanic American assets.
Moreover, its 50:50 merger with Liberty Global in British telecommunications provider O2 U.K. is a testament to its superior capital allocation skills. As we advance, the company plans to invest heavily in infrastructure and its tech competencies to solidify its positioning in its core businesses.
With TEF stock trading at under one times forward sales, it seems worth the bet.
On the date of publication, Muslim Farooque did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
The post 7 Cheap Stocks Under $10 to Buy for April 2022 appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | InvestorPlace - Stock Market News, Stock Advice & Trading Tips Banco Santander Brasil (NYSE:BSBR): Healthy upside with its geographically diverse operations Lloyds Banking Group (LYG): Massive profits point to higher shareholder rewards Sirius XM (SIRI): Free cash flow-generating machine with a commitment to shareholder rewards Ambev (ABEV): Re-opening tailwinds point to a strong comeback this year Latch (LTCH): Disruptive business which is just getting started in its growth story Nokia (NOK): A potential 5G king, which can push on to greater heights Telefonica (TEF): After its restructuring, the business is more streamlined than ever The S&P 500 index is off to a lackluster start. With all of these priced at under $10, maybe it’s time to follow the advice of the man whose picture is on the bill and “take your shot.” BSBR Banco Santander Brasil SA (ADR) $7.70 LYG Lloyds Banking Group $2.41 SIRI Sirius XM $6.62 ABEV Ambev $3.23 LTCH Latch $4.27 NOK Nokia $5.46 TEF Telefonica $4.80 Stocks Under $10 to Buy: Banco Santander Brasil SA (ADR) (BSBR) Source: Shutterstock Banco Santander (NYSE:BSBR) is one of the top banking institutions globally, across multiple countries. Ambev (ABEV) Source: Anton Garin / Shutterstock.com Brazil-based Ambev (NYSE:ABEV) is the biggest brewer in the Latin American region. | InvestorPlace - Stock Market News, Stock Advice & Trading Tips Banco Santander Brasil (NYSE:BSBR): Healthy upside with its geographically diverse operations Lloyds Banking Group (LYG): Massive profits point to higher shareholder rewards Sirius XM (SIRI): Free cash flow-generating machine with a commitment to shareholder rewards Ambev (ABEV): Re-opening tailwinds point to a strong comeback this year Latch (LTCH): Disruptive business which is just getting started in its growth story Nokia (NOK): A potential 5G king, which can push on to greater heights Telefonica (TEF): After its restructuring, the business is more streamlined than ever The S&P 500 index is off to a lackluster start. With all of these priced at under $10, maybe it’s time to follow the advice of the man whose picture is on the bill and “take your shot.” BSBR Banco Santander Brasil SA (ADR) $7.70 LYG Lloyds Banking Group $2.41 SIRI Sirius XM $6.62 ABEV Ambev $3.23 LTCH Latch $4.27 NOK Nokia $5.46 TEF Telefonica $4.80 Stocks Under $10 to Buy: Banco Santander Brasil SA (ADR) (BSBR) Source: Shutterstock Banco Santander (NYSE:BSBR) is one of the top banking institutions globally, across multiple countries. Ambev (ABEV) Source: Anton Garin / Shutterstock.com Brazil-based Ambev (NYSE:ABEV) is the biggest brewer in the Latin American region. | InvestorPlace - Stock Market News, Stock Advice & Trading Tips Banco Santander Brasil (NYSE:BSBR): Healthy upside with its geographically diverse operations Lloyds Banking Group (LYG): Massive profits point to higher shareholder rewards Sirius XM (SIRI): Free cash flow-generating machine with a commitment to shareholder rewards Ambev (ABEV): Re-opening tailwinds point to a strong comeback this year Latch (LTCH): Disruptive business which is just getting started in its growth story Nokia (NOK): A potential 5G king, which can push on to greater heights Telefonica (TEF): After its restructuring, the business is more streamlined than ever The S&P 500 index is off to a lackluster start. With all of these priced at under $10, maybe it’s time to follow the advice of the man whose picture is on the bill and “take your shot.” BSBR Banco Santander Brasil SA (ADR) $7.70 LYG Lloyds Banking Group $2.41 SIRI Sirius XM $6.62 ABEV Ambev $3.23 LTCH Latch $4.27 NOK Nokia $5.46 TEF Telefonica $4.80 Stocks Under $10 to Buy: Banco Santander Brasil SA (ADR) (BSBR) Source: Shutterstock Banco Santander (NYSE:BSBR) is one of the top banking institutions globally, across multiple countries. Ambev (ABEV) Source: Anton Garin / Shutterstock.com Brazil-based Ambev (NYSE:ABEV) is the biggest brewer in the Latin American region. | InvestorPlace - Stock Market News, Stock Advice & Trading Tips Banco Santander Brasil (NYSE:BSBR): Healthy upside with its geographically diverse operations Lloyds Banking Group (LYG): Massive profits point to higher shareholder rewards Sirius XM (SIRI): Free cash flow-generating machine with a commitment to shareholder rewards Ambev (ABEV): Re-opening tailwinds point to a strong comeback this year Latch (LTCH): Disruptive business which is just getting started in its growth story Nokia (NOK): A potential 5G king, which can push on to greater heights Telefonica (TEF): After its restructuring, the business is more streamlined than ever The S&P 500 index is off to a lackluster start. With all of these priced at under $10, maybe it’s time to follow the advice of the man whose picture is on the bill and “take your shot.” BSBR Banco Santander Brasil SA (ADR) $7.70 LYG Lloyds Banking Group $2.41 SIRI Sirius XM $6.62 ABEV Ambev $3.23 LTCH Latch $4.27 NOK Nokia $5.46 TEF Telefonica $4.80 Stocks Under $10 to Buy: Banco Santander Brasil SA (ADR) (BSBR) Source: Shutterstock Banco Santander (NYSE:BSBR) is one of the top banking institutions globally, across multiple countries. Ambev (ABEV) Source: Anton Garin / Shutterstock.com Brazil-based Ambev (NYSE:ABEV) is the biggest brewer in the Latin American region. |
28216.0 | 2022-03-31 00:00:00 UTC | Thursday's ETF Movers: ILF, ARKF | ABEV | https://www.nasdaq.com/articles/thursdays-etf-movers%3A-ilf-arkf | nan | nan | In trading on Thursday, the iShares Latin America 40 ETF is outperforming other ETFs, up about 1% on the day. Components of that ETF showing particular strength include shares of Ambev, up about 3% and shares of BRFS, up about 2.6% on the day.
And underperforming other ETFs today is the ARK Fintech Innovation ETF, off about 3.8% in Thursday afternoon trading. Among components of that ETF with the weakest showing on Thursday were shares of Uipath, lower by about 28.1%, and shares of Robinhood Markets, lower by about 6.3% on the day.
VIDEO: Thursday's ETF Movers: ILF, ARKF
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | And underperforming other ETFs today is the ARK Fintech Innovation ETF, off about 3.8% in Thursday afternoon trading. Among components of that ETF with the weakest showing on Thursday were shares of Uipath, lower by about 28.1%, and shares of Robinhood Markets, lower by about 6.3% on the day. VIDEO: Thursday's ETF Movers: ILF, ARKF The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Components of that ETF showing particular strength include shares of Ambev, up about 3% and shares of BRFS, up about 2.6% on the day. Among components of that ETF with the weakest showing on Thursday were shares of Uipath, lower by about 28.1%, and shares of Robinhood Markets, lower by about 6.3% on the day. VIDEO: Thursday's ETF Movers: ILF, ARKF The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In trading on Thursday, the iShares Latin America 40 ETF is outperforming other ETFs, up about 1% on the day. And underperforming other ETFs today is the ARK Fintech Innovation ETF, off about 3.8% in Thursday afternoon trading. Among components of that ETF with the weakest showing on Thursday were shares of Uipath, lower by about 28.1%, and shares of Robinhood Markets, lower by about 6.3% on the day. | In trading on Thursday, the iShares Latin America 40 ETF is outperforming other ETFs, up about 1% on the day. Components of that ETF showing particular strength include shares of Ambev, up about 3% and shares of BRFS, up about 2.6% on the day. And underperforming other ETFs today is the ARK Fintech Innovation ETF, off about 3.8% in Thursday afternoon trading. |
28217.0 | 2022-03-21 00:00:00 UTC | ABEV or DEO: Which Is the Better Value Stock Right Now? | ABEV | https://www.nasdaq.com/articles/abev-or-deo%3A-which-is-the-better-value-stock-right-now | nan | nan | Investors looking for stocks in the Beverages - Alcohol sector might want to consider either Ambev (ABEV) or Diageo (DEO). But which of these two stocks offers value investors a better bang for their buck right now? We'll need to take a closer look.
We have found that the best way to discover great value opportunities is to pair a strong Zacks Rank with a great grade in the Value category of our Style Scores system. The Zacks Rank is a proven strategy that targets companies with positive earnings estimate revision trends, while our Style Scores work to grade companies based on specific traits.
Right now, Ambev is sporting a Zacks Rank of #2 (Buy), while Diageo has a Zacks Rank of #3 (Hold). The Zacks Rank favors stocks that have recently seen positive revisions to their earnings estimates, so investors should rest assured that ABEV has an improving earnings outlook. But this is only part of the picture for value investors.
Value investors also tend to look at a number of traditional, tried-and-true figures to help them find stocks that they believe are undervalued at their current share price levels.
The Value category of the Style Scores system identifies undervalued companies by looking at a number of key metrics. These include the long-favored P/E ratio, P/S ratio, earnings yield, cash flow per share, and a variety of other fundamentals that help us determine a company's fair value.
ABEV currently has a forward P/E ratio of 19.59, while DEO has a forward P/E of 26.42. We also note that ABEV has a PEG ratio of 2.49. This popular figure is similar to the widely-used P/E ratio, but the PEG ratio also considers a company's expected EPS growth rate. DEO currently has a PEG ratio of 2.86.
Another notable valuation metric for ABEV is its P/B ratio of 2.87. The P/B ratio pits a stock's market value against its book value, which is defined as total assets minus total liabilities. For comparison, DEO has a P/B of 9.18.
These metrics, and several others, help ABEV earn a Value grade of B, while DEO has been given a Value grade of C.
ABEV stands above DEO thanks to its solid earnings outlook, and based on these valuation figures, we also feel that ABEV is the superior value option right now.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Investors looking for stocks in the Beverages - Alcohol sector might want to consider either Ambev (ABEV) or Diageo (DEO). The Zacks Rank favors stocks that have recently seen positive revisions to their earnings estimates, so investors should rest assured that ABEV has an improving earnings outlook. ABEV currently has a forward P/E ratio of 19.59, while DEO has a forward P/E of 26.42. | Ambev S.A. (ABEV): Free Stock Analysis Report Investors looking for stocks in the Beverages - Alcohol sector might want to consider either Ambev (ABEV) or Diageo (DEO). The Zacks Rank favors stocks that have recently seen positive revisions to their earnings estimates, so investors should rest assured that ABEV has an improving earnings outlook. | The Zacks Rank favors stocks that have recently seen positive revisions to their earnings estimates, so investors should rest assured that ABEV has an improving earnings outlook. These metrics, and several others, help ABEV earn a Value grade of B, while DEO has been given a Value grade of C. ABEV stands above DEO thanks to its solid earnings outlook, and based on these valuation figures, we also feel that ABEV is the superior value option right now. Investors looking for stocks in the Beverages - Alcohol sector might want to consider either Ambev (ABEV) or Diageo (DEO). | These metrics, and several others, help ABEV earn a Value grade of B, while DEO has been given a Value grade of C. ABEV stands above DEO thanks to its solid earnings outlook, and based on these valuation figures, we also feel that ABEV is the superior value option right now. Investors looking for stocks in the Beverages - Alcohol sector might want to consider either Ambev (ABEV) or Diageo (DEO). The Zacks Rank favors stocks that have recently seen positive revisions to their earnings estimates, so investors should rest assured that ABEV has an improving earnings outlook. |
28218.0 | 2022-02-24 00:00:00 UTC | Companhia de Bebidas das Americas (ABEV) Q4 2021 Earnings Call Transcript | ABEV | https://www.nasdaq.com/articles/companhia-de-bebidas-das-americas-abev-q4-2021-earnings-call-transcript | nan | nan | Image source: The Motley Fool.
Companhia de Bebidas das Americas (NYSE: ABEV)
Q4 2021 Earnings Call
Feb 24, 2022, 10:30 a.m. ET
Contents:
Prepared Remarks
Questions and Answers
Call Participants
Prepared Remarks:
Operator
Good morning, and thank you for waiting. We would like to welcome everyone to Ambev's fourth quarter 2021 results conference call. Today with us, we have Mr. Jean Jereissati, CEO for Ambev; and Mr.
Lucas Lira, CFO and investor relations Officer. As a reminder, a slide, the presentation is available for downloading on our website, ir.ambev.com.br as well as through the webcast link of this call. We would like to inform you that this event is being recorded. [Operator instructions] Before proceeding, let me mention that forward-looking statements are being made under the safe harbor of the Securities Litigation Reform Act of 1996.
Forward-looking statements are based on the beliefs and assumptions of Ambev's management and on information currently variable to the company. They involve risks, uncertainties and assumptions because they relate to future events, and therefore, depend on circumstances that may or may not occur in the future. Investors should understand that general economic conditions, industry conditions, and other operating factors could also affect the future results of Ambev and could cause results to differ materially from those expressed in such forward-looking statements. I would also like to remind everyone that, as usual, the percentage changes that will be discussed during today's call are both organic and normalized in nature.
in nature. And unless otherwise stated, percentage changes refer to comparison with fourth quarter results. Normalized figures refer to performance measures before exceptional items, which are either income or expenses that do not occur regularly as part of Ambev's normal activities. As normalized figures are non-GAAP measures, the company discloses the consolidated profit, EPS, EBIT and EBITDA on a fully reported basis in the earnings release.
Now I'll turn the conference over to Mr. Jean Jereissati, CEO for Ambev. Mr. Jereissati, you may begin your conference.
Jean Jereissati -- Chief Executive Officer
Good morning. Good afternoon, everyone. Thanks for joining our Q4 and full year 2021earnings call 2021 is now history, but it definitely lasted smart.
We had an all-time high engagement of our team, which once again rose to the occasion and remain steadfast in transforming this company to a new chapter. We kept a very high reputation as we continue to focus on having a positive impact in society and growing together with our ecosystem. We have reached our record top 15 million hectoliters of new volume on top of 2020 and pretty much all the industry growth in the period. Our normalized EBITDA went back to double-digit growth and above pre-pandemic levels, despite unprecedented cost headwinds.
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And we had free cash flow growing ahead of normalized EBITDA, improving our ROIC while investing heavily in the future. I want to deeply thank my entire team for this amazing year. Now let's talk about Q4. Our main objectives in the quarter were to consolidate our new volume levels.
And here, we grew volumes in the quarter, improving our rolling 12 months performance and to position ourselves to start 2022 structurally better than we begun 2021. We accelerated our net revenue per hectoliter growth, reaching 15.2%, which leave us in a good place to start the year. Breaking it down by region. In Brazil beer, our volumes in the quarter declined 3%, amid a high single-digit industry decline according to our estimates.
Therefore, we sustained market share gains, and we led in 2021, both volume share and value share growth. In fact, this was the second year in a row in which we outperformed a growing industry, adding 4.5 million hectoliters in 2020 and six million hectoliters in 2021. In the quarter, net revenue per hectoliter grew 9%, and we expect to improve this performance in 2022. In Brazil, NAB volumes grew by almost 2%, and net revenue per hectoliter grew nearly 12, thanks to better packaging and premium mix.
We estimate we gained market share in the quarter, benefiting from a better visibility and improved distribution with BEES, closing the year with all-time high buyers in history. Our international operations continued to rebound consistently. Latin America South was our major growth engine with volumes growing almost 9% and net revenue per hectoliter about 31%. We had a solid performance in Central America in the Caribbean.
Volumes grew by 2.5 and net revenue per hectoliter grew by 16, thanks to our premium and core plus brands that are gaining mixed weight. Canada, we grew approximately 4% in both volumes and net revenue per hectoliter, an easy comp given Q4 2020, combined with market share gains, led by Corona and Michelob Ultra. On top of that, we are structurally better positioned to start 2022. Our portfolio is stronger and healthier.
For example, in Brazil, Brahma Duplo Malte and Brahma were first and second in brand equity improvement among all brands in the market. And we are starting this year with 1.6 million more consumers that states that love one of our brands. Also, I would like to highlight the performance of Corona, that is the leading premium brand in Central America and the Caribbean in Canada, in Chile, in Argentina and grew 44% in volumes in Brazil. Innovation is working.
We tested more than 65 new products throughout the year, including beer and non-beer products. There is an avenue of growth in health and wellness with Stella gluten-free and Michelob Ultra. Our core plus segment already represents 10% of our Brazil volumes. After the successful launch of Brahma Duplo Malte, Spaten has had a very good traction in Brazil.
This segment represents an enormous opportunity in all countries, with Andes Origen leading in Argentina, Cusqueña doing very well in Chile and Skol surprising us in Paraguay. We are going beyond beer. Beyond beer is already an important profitable growth driver in more mature markets like Canada, where we have the Mike's in neutral franchises leading the way. And in 2021, to be ahead of the curve in our other markets, we strength our beyond-beer capabilities.
We created a new business unit to bring focus and consistencies to our strategy toward exciting new alcoholic beverages categories, such as ready-to-drink, can, cocktails and seltzers. In Brazil, we have the Beats franchise broadening its portfolio, and we will continue to expand Mike's after a successful pilot in 2021. DTC Initiatives have steps changed. This is especially true for the delivery in Brazil, not only in terms of geographic reach, but also scale and assortment.
In 2021, they reached 300 cities, delivered 61 million orders. And we begin 2022 with four million monthly active users. And this is revolutionizing how we connect with clients in Dominican Republic and in Brazil, where more than 85% of our customers are already ordering online and of which more than 80% make majority of their purchases to the BEES app. Also, our offering of non-Ambev products on the platform reached a 1.4 billion annualized GMV in 2021 in total Ambev, in this is just the beginning.
In 2021, we kicked off the expansion of BEES Software-as-a-Service capability with the agreement with BRF in Brazil, and we are speeding up this implementation in Argentina, Paraguay and Panama. At this time of the year, last year, everyone was worried about the impacts from the pandemic, the reduction in government stimulus, the cost pressures given FX devaluation and commodity increases. After 12 months, the results were: our volumes were up 9%, net revenues up 24% and EBITDA growing 11. We believe we adapted quickly in 2021, and we invested ahead to continue to lead in 2022.
A lot has changed in the past year. In 2022, we will remain alert, attentive and not let down our guard. Because COVID is still among us, we're going to see a lot of industry volatility, given consumer inflation, pressuring disposable income on the one side, but we're going to also see awards come during the summer on the other side, cost pressures given unprecedented commodity inflation. In Brazil beer, cash COGS per hectoliter is expected to increase between 16% and 19%.
And despite all that, we would deliver consolidated organic EBITDA growth in 2022, ahead of our 2021 performance with Brazil back to growth. We are structurally better prepared. We have a plan, and our team is already working on it. To finish, I would like once again to thank all of our people for the great 2021 and for this amazing transformation journey we have been going through.
Thank you all. See you in May. And now it's over to you, Lucas.
Lucas Lira -- Chief Financial Officer and Investor Relations Officer
Thank you, Jean, and hello, everyone. Let's start with the numbers. Net revenue grew 16% in Q4 and nearly 24% for the full year. EBITDA declined about 2% in the quarter but grew almost 11% in 2021, which is well above 2019 levels, even if you exclude the impact of one-off tax credits in Brazil.
Normalized profit declined about 45% in Q4 due to tax credits one-offs in Brazil, but increased over 11% in the full year. And operational cash flow increased over 40% in the quarter, finishing the year more than 21% above 2020. What's more, our consistent improvement on the operational side also translated into better performance when it comes to our value-creation agenda, with return on invested capital, economic profit, and free cash flow all back to growth, and all this while, first, continuing to invest behind our business transformation and future growth, with capex for the year totaling BRL 7.7 billion, which is nearly 64% above 2020 levels, and sales and marketing growing 15% to support our portfolio strategy and innovation pipeline. And second, returning excess cash to shareholders with a total payout of BRL 9.5 billion in the form of dividends and IOC in the year, which was about 23% above 2020.
And in terms of sustainability, 2021 was another year of consistent and continuous improvement, and we remain on track to deliver our goals by 2025. For instance, we announced the first carbon-neutral large brewery and multiplant in Brazil, and we also reached 100% renewable energy for our breweries in Panama, the Dominican Republic, and Guatemala. We advanced several initiatives to decarbonize our value chain operations related to Scope 3, and we continued to dream big. We announced our ambition to achieve net zero for operations by 2030 and for our value chain by 2040.
All in all, we delivered the consistent improvement in performance we have been so vocal about since 2020. And now that we are pretty much back to pre-pandemic levels on the bottom line, and with 2021 behind us, we must look ahead. So let's focus on 2022. First, what doesn't change? One, top line growth will remain a key priority and a key performance driver.
Two, input cost pressure, unfortunately, remains a headwind. And three, our focus on value-creation drivers such as return on invested capital, economic profit, and free cash flow generation remain. Now what should be different in 2022? One, our net revenue performance should be more driven by net revenue per hectoliter than volumes as we adapt to a higher inflationary environment. Two, cost headwinds will come mostly from commodity inflation rather than FX, but at a lower growth rate than in 2021.
Three, SG&A growth should improve, which was heavily impacted by variable compensation accruals. And four, the tax credit one-offs in Brazil that positively impacted our EBITDA, financial results, and effective tax rate over the last two years should no longer impact our performance in a material way. Let me give a bit more color on our COGS outlook in Brazil Beer, which we are giving specific guidance. We expect Brazil Beer cash COGS per hectoliter to grow between 16% to 19% for the full year.
This number assumes commodity prices remain at their current levels and does not include the per hectoliter impact on the sale of non-Ambev products on our BEES marketplace, such as milk, vegetable oil, rice, condensed milk, and chewing gum. Given BEES marketplace growth trend in 2021 and our plan going forward in countries like Brazil and the Dominican Republic, starting in Q1 2022 earnings results, we will report our net revenue per hectoliter, our COGS per hectoliter and our cash box per hectoliter performance, excluding the impact of these non-Ambev products sold under BEES marketplace. This is intended to provide more transparency to the market on this important growth driver as well avoid distorting the performance of the underlying beer results. When we bring it all together, what this means is that we will work to deliver better EBITDA growth in 2022 than the 11% growth we delivered in 2021, despite a tougher Q1, despite volatility by quarter and despite the cost headwinds I mentioned.
Turning to our financial priorities. We will focus on optimizing our business through three things: first, improving our financial discipline with a focus on liquidity as well as our typical cost and expense management initiatives while reinvesting for growth organically and nonorganically; second, further our value creation agenda with a focus on improving our return-on-invested capital, economic profit growth and free cash flow growth; and third, return excess cash to shareholders over time. Regarding value creation, we will continue to look beyond margin ratios and also focus on return ratios. Margins remain extremely important, but when it comes to creating value in a sustainable way in the long term, asset turnover is another important lever, and we see room for improvement here.
As for instance, our tech platforms continue to expand. And yes, 2021 was still a tough year on the margin side. But on the return side, we managed to break the downward cycle we were on for a while. Following in 2022, the challenge is to build momentum on top of what we accomplished last year.
So to wrap up. Following good recovery last year, 2022 brings well-known challenges but also several opportunities we've been investing behind since 2020. We believe we are better prepared, and we will have to deliver once again the continuous and consistent improvement as we transform this company. Thank you, and now let's move to Q&A.
Questions & Answers:
Operator
Thank you. We will now start the Q&A session for analysts and investors. [Operator instructions] Our first question comes from Marcella Recchia, Credit Suisse.
Marcella Recchia
Hi, Jean. Hi, Lucas. Thank you for taking my question. I have two questions here.
First one is if you could give us a little bit more of color on the main components behind the guidance for the EBITDA growth acceleration to above around 11% levels in 2021. And the second question is if you have any assessment of elasticity impact on price increase on volumes. So far and going forward, right, we have seen that the industry is highly focused on pricing to manage cost headwinds, and I think that is also the case for you guys. So how you are seeing that impact in terms of elasticity? Thank you very much.
Jean Jereissati -- Chief Executive Officer
Hi, Marcella. Thank you very much for the question. Let me get the EBITDA drivers growth first. Overall, talking about, first, about net revenue per hectoliter.
I think most of the price is already done. So we entered in 2022 with a good carryover, and we are very confident on improving mix during the year, because I think that some trends are in our favor as the old trade reopening, as the 600 ml bottles are gaining traction. This would help us. Innovation on the core plus and the premium is really working.
So that part, we are confident. We mentioned that our -- in Brazil, our cash COGS would be in between 16 and 19. That is better than last year that it was in the low 20s. And sales and marketing should be below inflation with administrative really going a knock.
So I think there is -- so with this balance, we believe that we can accelerate EBITDA. Of course, the volumes in the industry are, I think, the most tricky part. We are starting with a very good market share in key countries. So this helps on one hand.
We had omicron impact in January, but somehow, on the other hand, looks like we're going to have two half carnivals, one now, one in April. We're going to have a World Cup in the summer that we never had. There's always impacts. It's a big occasion for the Brazilian market.
So that's where lends a little bit more of the doubt. But we are very confident that we are with a better portfolio, structurally better, brand active going up and great innovation working in the market. So this is the first one. The second, about elasticity.
So what we are seeing is really that when we think about segments, that the value segment is the one that suffered the most, OK? What we saw during the past -- the last year, it was. So our core plus is something that is a structural change that help and brings new news, new recipes for consumers. So this is -- so it's an important piece of the market that it's going beyond any historical of elasticity. Premium is solid.
And our core with the returnability strategy rebounded to grow. So it's really been resilient. So I think talking about segments, what's really been more impacted overall is the value segment and the brands that does not have equity. So from our side, we have momentum on mainstream, on core plus and in high end.
So we are excited about our portfolio in general.
Marcella Recchia
Perfect. Thank you very much.
Operator
Our next question comes from Sergio Matsumoto, Citigroup.
Sergio Matsumoto -- Citi -- Analyst
Yes. Hi. Good morning, Jean, Lucas. Thank you for taking my question.
I want to ask about the revolution in logistics to urban distribution centers. You commented on this in the last couple of quarters. And we understand that you're building it out in Sao Paulo and other parts of Brazil and also transitioning clients into BEES for the ordering, and 85% already there. So two questions on this.
The first is, Jean, where do you think you are in this whole process? Because it's -- revolution is a big word, and I'm sure it's a long, involved process. So what do you think? Do you think you just started it? Or do you think you're halfway through? Or like if you can give us some color there? And the second is, if you could frame the benefits in terms of top line growth benefits and any cost savings that you might expect by transitioning to this new process. And if that -- if those cost savings, if any, if we're going to see them? Or would you be investing them back into the market? Thanks.
Jean Jereissati -- Chief Executive Officer
OK. Thank you for the question, Sergio. Yes. So last call, we talked a lot about it.
It's an important piece of -- in our transformation journey. Just for you to have in mind. So what we are talking that the major piece, it is that ambidextrous warehouses that they work for direct-to-consumer initiatives, and they work for B2B initiatives together. OK? So I think this is something that there is a game changer in terms of getting it right and really being efficient.
So we have the urban centers. And around -- we have already something around 40 new urban warehouses that can manage consumer and customer in the same platform. What is great about it is that our DTC initiatives, you have 80% of the volumes that goes -- that comes -- that orders comes on Friday night, Saturdays and Sundays. And the B2B is something that is more planned and it's more weekdays.
So it's highly complementary, the initiative. That will help us a lot to build this capability, to reach consumers and build this capability to aggregate much more products that we have today that goes beyond our portfolio. That helps our innovation, but really accommodates some partnership that we are doing with other industries. OK? So this is really about capabilities at this moment.
So -- and it is something that we are just starting. So the part of the question where we are is just the beginning. And for now, so the DTC is really getting more positive. So everybody comments and asks about the DTC last mile, and this is really a piece that will make the last mile of DTC accretive to us at some point in time.
For now, we are really ramping up, and we are just starting.
Sergio Matsumoto -- Citi -- Analyst
And for the benefits, Jean?
Jean Jereissati -- Chief Executive Officer
So the phase that we are today is really about expansion, OK? So this is really to get the DTC more efficient. We know that the delivery is not in the same level of margins that we have in the company. So it's like to mitigate this growth and to get the DTC at some point in time with the same margins that we have in the company. So it mitigates the growth of DTC for now.
It gets DTC accretive at some point in time.
Sergio Matsumoto -- Citi -- Analyst
Yes. I guess what I meant to ask you on the B2B part. There is a change in the way the customers orders, and there's probably a sales uplift and some sort of cost savings, perhaps fewer salespeople needed, less frequency in visiting the clients, if you can frame those, that would be great.
Jean Jereissati -- Chief Executive Officer
OK. So it's a little bit disconnected. So delivery and order taking, OK? So that's why I'm talking pretty much about the warehouses and the supply chain, talking about on a broader perspective. So what we are seeing is that clients, customers can be much more organized with this.
They can elect, they can plan themselves where to receive. So they are paying additional money to have more days in terms of frequency. We are much more efficient on discount optimization and management because of our data. So this piece is really -- this is really accretive on this discount management and organizing the logistics.
And it will be added. It's marginal to really -- with all this platform to really have the partners in the same truck light we are delivering here. OK? So somehow it's very good for the base business. The base business gets efficient.
But then when we aggregate the other products, when we aggregate the marketplace products, it's really something that we are talking more about growth of this piece of the equation that we are there. So we mentioned that assortment that has no known bet in BEES reached 1.4 billion in GMV. So this piece is already -- is below the average EBITDA margin of the company is growing. And this piece, it's profitable -- it's getting profitable with this logistic approach.
The base business, this business is really getting more efficient with all the street comments.
Sergio Matsumoto -- Citi -- Analyst
Thank you.
Operator
Our next question comes from Alan Alanis, Santander.
Alan Alanis -- Banco Santander -- Analyst
Thank you and congratulations on the results. Hi, look, I have a couple of questions, one around the balance sheet. And you're sitting on $3 billion of net cash. What's your -- what's the outlook in terms of dividend payout and potential share buybacks? That will be the first question.
The second question is more around the market and the super premium category. You mentioned Corona moving up 44%, very, very strong. Congratulations for that. Heineken mentioned that they were reporting 10% increase in volumes.
Could you explain a bit what's going on regarding the super premium category? Why is it so strong again in Brazil? And for the same token, why -- or what's the contribution in terms of margin expansion or margin contraction of this super premium category in Brazil, please? Thank you.
Jean Jereissati -- Chief Executive Officer
I'll get the first one, I'll end in the second. I'll get the second one, first, and then I'll get to Lucas. OK? Yes. Yes.
So the -- so we mentioned at some point in time that our long-term view for the high-end portfolio that we have in Brazil, it was mainly to have brand equity ahead of volumes, OK? So ahead of market share, build brands, build the desire, connect with consumers. And we have been doing this for a while, and it was a very successful strategy that we have, best year, somehow four major brands of our high-end portfolio, really got power brand equity up. OK? So Corona is doing very well. Stella is doing very.
Beck on the brand equity side is doing very well. And we are beginning to see demand to those brands. So we are seeing Corona, it was a 44% up. We see Beck's with 59% up, too.
Stella is doing OK. Original. Our domestic brand was 35% up. And this is a major use of our strategy to improve margins moving forward.
These products, they are 1 50 on average price of the market, and they are accretive in terms of margins. But our main strategy is still to see to have brand equity ahead of market share. For example, Corona has three times the brand power that it has in terms of market share. So there is a lot of spaces to that on consumer pull on that is an important piece of our equation.
We add to that the innovation, the core, plus there is another part that will bring the creativeness for us in our portfolio.
Lucas Lira -- Chief Financial Officer and Investor Relations Officer
OK. Alan, thank you for the question. A few points here. In terms of use of cash, the framework, the mindset continues to be the same as the one we've had over the years.
Meaning, number one, we want to reinvest in growth opportunities. And over the last few years, I think we've found very attractive organic growth opportunities, either in our base business or in these new business ventures that we've been investing behind leveraging technology. So plenty of opportunity to reinvest the strong cash flow generation to generate more growth, number one. Number two, non-organic growth opportunities.
We're always looking at interesting opportunities, again, in the base business, in markets where there are still white spaces or in these new business models, new ventures opportunities to enhance our capabilities to drive the expansion of these ventures going forward, OK? That's priority number one, reinvest in future growth. And then we will continue to return excess cash to shareholders over time as we have been over the course of the last few years, right? Just to give a bit more color on this. If you take 2019, 2020, and 2021, right, what we ended up doing was we had -- if you look at the fiscal year, right, total payout, we had roughly 7.7 billion of payout between dividends and IOC in 2019 and 2020, right? Reminding that 2020, there was a very tough year, but we managed to keep the payout at the same level. And as the business performance and the financial performance bounced back in 2021, we managed to increase the payout, and we ended up making the largest payout, I believe, since 2016, it was the third largest total payout in history, growing 23% versus 2019, while profit grew roughly 8%.
So the way we continue to think about this is as the business improves and after we've reinvested for growth, we will continue to look to return excess cash to shareholders and improve the payout over time. The way to return excess cash to shareholders will remain very much focused around maximizing the IOC as we have in the past, supplemented by dividends. And from time to time, we will look at buyback programs, but that's a discussion that we have with the Board from time to time. For now, the decision remains to prioritize IOC and dividends.
And this is a conversation more toward the end of the year for us.
Alan Alanis -- Banco Santander -- Analyst
Thank you so much. That's very useful. Thank you.
Operator
Our next question comes from Lucas Ferreira, J. P. Morgan.
Lucas Ferreira -- J.P. Morgan -- Analyst
Yes. Before taking any question, some additional clarification on the guidance, if possible. Just wanted to understand how much you think you could outperform the market this year. So in other words, how much you see the Brazilian beer market growing in 2022? And I just to have a view about this growth, if you think it's going to be a bit more backloaded into the year.
Since your volumes declined in the fourth quarter, if you can give us a sense of how the year is starting? So how should we think about reconciled at the beginning of the year with your full year guidance? And the second question around the same thing here, if you can give us a sense of how relevant both BEES and for you guys to these results in '22. So you -- if not mistaken, I believe, this marketplace is already growing like probably 40% from the last number you gave us in the third quarter. So just wondering if you can explain to us a little bit how these -- and I believe it will contribute to this outperformance in 2022. Thank you.
Jean Jereissati -- Chief Executive Officer
OK. Let me get this one. Lucas, thank you for the question. So thinking about -- I think that we talked about the lines.
I think that the trickiest one is really the volume, right, so that we mentioned. We are confident because we are starting with a good to carry over in net revenue per told we're starting with a good, a very good position in terms of market share, a solid with returnable performance really going up. So we are confident that we are structurally better to address the year and starting the year with a market share much above that we started the previous year, OK? So that's how we think that we are structurally better and starting the year. So having said that, we had the Omicron impact after the -- in the beginning of the year.
Last year, the carnival was already some weak in what we are seeing. So we have seen a recovery in February, but somehow looks like we want to have like half carnival is just a holiday and then we're going to have another one in April because Rio de Janeiro and Sao Paulo already mentioned that they will have some activities on. And then we have all the reopening, and then we have elections and World Cup. So somehow, I think that's the most tricky part.
So it's really something that we have to be attentive, disciplined, agile and flexible to address the industry overall. I think that's the most I can mention to you. Let's see, no crystal ball on that. There is plus and minus that we have to address.
We are starting in a good position. Having said that, this is really about growth. So this really helps the base business overall. OK? So -- but when we talk about the other assortment, it's really about growth.
So we are building growth. The delivery, we are more sizable already now, and we begin to see efficiencies coming as we get the last mile more efficient overall. So we are more and more doing two deliveries in the same motorcycle. So we are more and more getting efficient on revenue management on that piece.
So we see that more sizable in really getting more efficient. And this is really the other piece is really about growth. OK? So I think that's the most I can mention. So that's pretty much it.
Alan Alanis -- Banco Santander -- Analyst
Yep, that's pretty much it. Thank you.
Operator
Our next question comes from Angie Breslin, BTG.
Unknown speaker
Hello. Hello, Lucas. My question is on the cost outlook for 2022. The cost per hectoliter in Brazil should grow the 16% to 19% you mentioned in Brazil Beer.
And that is now mostly coming from commodity pressures rather than the FX as it was in the past. So if you could just provide some additional color on how that could also apply to your other business units and also how the outlook for revenues growing by higher revenue per hectoliter rather than volumes may relate to that in terms of potential price hikes that you see during the year.Thank you.
Lucas Lira -- Chief Financial Officer and Investor Relations Officer
Yes. Thank you for the question. Our outlook for cash COGS per hectoliter, right, is -- in terms of the guidance is really, I mean, focused on Brazil beer. We're not providing any guidance with respect to the other business units.
However, when we look at the commodity inflation, no business unit of ours is immune to it, OK? And as we have the hedging policy in place rolling 12 months forward, you can get a sense of the impact that commodity inflation can have across our other business units. OK? But just given the importance of the Brazil Beer business to the overall performance of the company, we wanted to provide this additional level of detail so the market can have a better sense of what to expect in the year, OK? And could you repeat the second part of your question on the net revenue per hectoliter, please?
Unknown speaker
Yes. Sure. It was just if the goal of -- or at least the outlook of growing revenues mainly by higher realized prices, if that implies that you see, in the end, a better environment for price pass-throughs and now mainly overseas. You mentioned before that the -- some of the price hikes should come from better mix, and you have already a positive carryover.
But just thinking if we would also expect higher price hikes than if you see a positive environment for that overseas.
Lucas Lira -- Chief Financial Officer and Investor Relations Officer
OK. So outside Brazil, I think one of the key drivers of our net revenue per hectoliter performance has been premiumization, OK, number one. So -- and that is true not only for core plus volumes in markets like Argentina, in markets like -- many markets in the Caribbean, the Dominican Republic, Panama, and also Canada, OK? And this is also true for our premium brands across these markets.,So I think both in 2020 and 2021, we really saw this momentum building around above core, core plus and premium volumes, increasing the mix, and that has helped us on the net revenue per hectoliter performance side. I think that's one of the major contributors over and above the core pricing.
And as Jean mentioned earlier today on the call, we've pretty much started the year where we wanted to be in terms of pricing. And so we count on this carryover to give us also a good tailwind going into 2022.
Unknown speaker
That's very clear. Lucas, thanks very much.
Lucas Lira -- Chief Financial Officer and Investor Relations Officer
Thank you for the question.
Operator
Our next question comes from Isabella Simonato, Bank of America.
Isabella Simonato -- Bank of America Merrill Lynch -- Analyst
Thank you. Good afternoon, Jean, Lucas, thank you for the call. My first question is on the volume performance, but more from a channel perspective, right, both in Q4 and how you're seeing the beginning of the year. If you could give us a little bit more color on the performance between the on-premise and the off-premise in Brazil.
The weakness that we saw in the industry, where was that more concentrated? And how are you seeing the pace, of the on-trade recovering throughout the next couple of quarters? That would be my first question. And the second question is, it's interesting, you guys mentioned the SG&A relief for 2022. Any sense of magnitude or how should we think that versus inflation for the year? I think that could be helpful. Thank you.
Jean Jereissati -- Chief Executive Officer
You can go.
Lucas Lira -- Chief Financial Officer and Investor Relations Officer
You can take the first one.
Jean Jereissati -- Chief Executive Officer
I will take the first one on volumes and then I'll answer the SG&A one. So Isabella, thank you very much for the question. So what we saw in Q4, it was a lot related with weather, that it was a very bad weather overall. So we saw this industry deceleration on that part.
So impacting all the channels equally, and then we had Omicron that impacted more the on trade again. So we have been seeing structurally better come back of the on-trade, but then Omicron stopped that, and then we saw the impact on the on-trade again. But Q4, it was mainly pretty much about the weather overall. We believe that this on-trade coming back is more structural.
When Omicron goes, it's really getting better. We've seen the on-trade overall reorganizing, transforming itself to do deliveries, to do takeaways. Of course, the occasion of gathering outside of home with friends, it is volatile. So it was getting better.
It stopped. I think it will get back again. So I think throughout the year, this should be a positive as we've seen all over the previous year. overall, OK? So in terms of channel, we believe that the on-trade in transition train will continue to rebound during the year, and that's what pretty much it.
Lucas Lira -- Chief Financial Officer and Investor Relations Officer
And with respect to your question on SG&A, Isabella, a few things here that I think are worth highlighting. I think number one, 2021 was a year where SG&A growth was heavily impacted by admin expenses going up. And within admin expenses, there were a few dynamics that we highlighted during our Q3 call. Number one, if you think of the growth of overhead, excluding our investments behind technology, the overhead growth was actually much milder and below inflation, OK? But since 2020, we've taken the deliberate decision to over invest in technology to build the future.
OK? And that had an impact on top of the variable comp. And as it relates to variable comp, I think it's fair to say that the variable comp accruals in 2021 were on the higher end of historical accruals, given that the rebound in performance was much stronger than we expected going into the year in 2021. So when we look at 2022, I think a good way to think about SG&A is less growth on the SG&A side coming from admin because of lower variable comp accruals versus the level at which we accrued in 2021. We will continue to stay very, very disciplined around overhead growth as we have historically been.
And -- but we won't be shy about continuing to invest behind technology. OK? But all in all, a much better level of growth on the admin side as opposed to 2021. OK? Then when you go to sales and marketing, sales and marketing in 2021 was heavily impacted by the comparable base, because in 2020, sales and marketing was at a much lower level as we adapted to COVID and we tightened the belt. So there was a tough base of comparison and that, to a great extent, explains kind of the year-over-year growth, albeit below net revenue growth, OK, for the full year.
So sales and marketing, I think perhaps the best way, just to have a reference, is to look at historical sales and marketing performance and use that as a reference, though we're not giving any specific guidance on sales and marketing for 2022. So I would look at historic levels, OK, as a reference. And then on the logistics side, I think the -- one of the main impacts was the increase in initiatives like DTC, as Jean mentioned, that they bring the last mile distribution cost. We will still invest behind that expansion.
So there's still some increase on the distribution cost side but nothing to flag here out of the kind of ordinary expansion of the business. OK? So all in all, SG&A growing less than it grew in 2021, given these different levers that I mentioned.
Isabella Simonato -- Bank of America Merrill Lynch -- Analyst
That's very clear. Thank you.
Operator
Our next question comes from Robert Ottenstein, Evercore.
Robert Ottenstein -- Evercore ISI -- Analyst
Great. Thank you. Thank you very much. First, just a short detail question.
Any update in terms of state or national taxes that impact beer in Brazil? And then my main question really is on how you're addressing total beverage alcohol opportunities in your key markets and particularly, spirits. How beer is doing versus spirits? Plans that you have to perhaps get into spirits or address Spirits occasions with more ready-to-drink products. You've done some of that in the past, but I'd like to get an update on where those initiatives are. Thank you.
Lucas Lira -- Chief Financial Officer and Investor Relations Officer
OK. I can take the first question on taxes, and then Jean can answer the second one on total beverage alcohol. On the tax front, Robert, there's no real update. I think just taking a step back, our view is that given how hard COVID hit our markets, we think that everybody needs to support recovery.
And so in our view, the way forward is to invest behind the recovery of the on-trade for instance. And so to the extent there is further taxation, that's going to increase the burden on the industry, increase the burden on the trade. We think that's not going to be constructive for the recovery of the industry as a whole, OK? But there's no real update since Q4 on the tax front.
Jean Jereissati -- Chief Executive Officer
Robert, and let me get the second one. So thanks for the question on total average. Let me start with something that we don't talk that much. We have been building NABs across the board in Brazil, Argentina, Uruguay.
And we are really excited about what we -- the foundations that we built this year. So we have resilience on that side. We are gaining market share. Pepsi Black is really something that we are very excited about.
The taste is really something that consumers are cheering with us. [Inaudible] is doing very well. So -- and business is really helping for us to give more space for NAB. So this is the first thing.
I think it will be a strong year for NAB across the board in our company, because we built -- that was a year 2021 was a year that we built a lot of things to help NABs. Having said that, so we stepped changed the share of trout of beer in the previous -- in 2020 and 2021, it was a step change. You've seen my volumes. Somehow we get it right, the innovation strategy and the affordability strategy on the mainstream on the core.
So we stepped change share there, so our category is very resilient in Brazil, in Argentina, in Chile. In our major footprints, beer is really, as a category, really doing well. We are taking the lead on innovating on deciding the relative price on the basket. So we are very excited with that.
Having said that, we just put in place a business unit to go to think about beyond beer. That is thinking about all the options that we have. So RTG is really something that we are starting. So with Beats in Brazil and Mike's, there is soda that we piloted is doing very well.
It's really something that we believe that will have traction in our major markets. And then this is pretty much the spirits occasion. And then we are studying everything and open on all the alcoholic beverage, but it's easy to say how we're going to move. So we put in place the capabilities.
We hired ahead. We are studying deeply. RTG will move first, and we are studying the rest.
Robert Ottenstein -- Evercore ISI -- Analyst
Thank you.
Operator
Our last question comes from Gustavo Troyano, Itau.
Gustavo Troyano -- Itau BBA -- Analyst
I was wondering if you could explore a little bit more on the EBITDA guidance for 2022, especially trying to analyze the magnitude of the forecasted growth within different geographies. So it would be very helpful if you could help us navigate through a build-out maybe of the consolidated EBITDA growth across the business units. So which regions could increase EBITDA ahead of the consolidated growth? Which ones could access headwinds for the consolidated growth to meet your EBITDA guidance? So when you call to give us mainly focusing on your international operations and how we compare your EBITDA outlook for 2022 would be very helpful.
Lucas Lira -- Chief Financial Officer and Investor Relations Officer
OK. Thank you for the question, Gustavo. We're not going into that level of detail, but let me try to give you a good way to think about it. And one of the reasons why, when we project 2022 based on our plan kind of what are the reasons to believe that we're going to work toward delivering more than the 10.9% organic EBITDA growth for Ambev at the consolidated level.
I think a good way to think about it is in 2021, we delivered the 10.9% organic growth year-over-year, with EBITDA decline, not only in Brazil Beer and EBITDA decline in Brazil NAB, whereas our international operations in last Cochin Canada really made a difference in terms of allowing us to deliver this organic EBITDA growth despite all the FX and commodity headwinds that we faced across markets, we still managed to deliver good recovery and double-digit EBITDA growth. So when we look at 2022, we see, given the momentum and given that we're starting the year better prepared, we see a 2022 with Brazil bouncing back in terms of EBITDA growth. So just by having Brazil bouncing back and growing EBITDA after three years of decline, and given the size and importance of Brazil, not only Beer, but also NAB, to the overall company, that gives us confidence that we can deliver this improved performance and growth level for 2022. I think that's the main difference.
It's Brazil bouncing back and growing EBITDA in organic terms.
Jean Jereissati -- Chief Executive Officer
And to add on that, Gustavo, Central America and Caribbean has been a clock, has been some steady. Canada, too, it has been easy to predict. Last, we are doing very well, so the core plus strategy is really working. Chile is really something that we are accelerating.
Paraguay is doing very well. Argentina, too. So in the end, NABs is what I mentioned, somehow we don't talk that much, but I think it will have a strong year. And then we have Brazil turning.
Gustavo Troyano -- Itau BBA -- Analyst
Thank you.
Operator
Thank you. The Q&A session is now closed. Now I would like to turn the floor back to Mr. Jean Jereissati for final remarks.
Jean Jereissati -- Chief Executive Officer
So thank you very much. Thanks, all analysts, everyone who joined the call for your time and attention. 2021 was a great year in our journey. We are transforming our business.
The milestones that we accomplished, it was something that we are very proud of. Q4, we consolidated a whole new level of volumes. We are structurally better prepared to 2022. We know that 2022 will have its challenges, but we are confident on delivering consolidated organic EBITDA growth in 2022 ahead of our 2021 performance.
So thank you very much for everybody for the call. I see you in May, and have a great day.
Operator
[Operator signoff]
Duration: 64 minutes
Call participants:
Jean Jereissati -- Chief Executive Officer
Lucas Lira -- Chief Financial Officer and Investor Relations Officer
Marcella Recchia
Sergio Matsumoto -- Citi -- Analyst
Alan Alanis -- Banco Santander -- Analyst
Lucas Ferreira -- J.P. Morgan -- Analyst
Unknown speaker
Isabella Simonato -- Bank of America Merrill Lynch -- Analyst
Robert Ottenstein -- Evercore ISI -- Analyst
Gustavo Troyano -- Itau BBA -- Analyst
More ABEV analysis
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Companhia de Bebidas das Americas (NYSE: ABEV) Q4 2021 Earnings Call Feb 24, 2022, 10:30 a.m. Operator [Operator signoff] Duration: 64 minutes Call participants: Jean Jereissati -- Chief Executive Officer Lucas Lira -- Chief Financial Officer and Investor Relations Officer Marcella Recchia Sergio Matsumoto -- Citi -- Analyst Alan Alanis -- Banco Santander -- Analyst Lucas Ferreira -- J.P. Morgan -- Analyst Unknown speaker Isabella Simonato -- Bank of America Merrill Lynch -- Analyst Robert Ottenstein -- Evercore ISI -- Analyst Gustavo Troyano -- Itau BBA -- Analyst More ABEV analysis All earnings call transcripts This article is a transcript of this conference call produced for The Motley Fool. Canada, we grew approximately 4% in both volumes and net revenue per hectoliter, an easy comp given Q4 2020, combined with market share gains, led by Corona and Michelob Ultra. | Operator [Operator signoff] Duration: 64 minutes Call participants: Jean Jereissati -- Chief Executive Officer Lucas Lira -- Chief Financial Officer and Investor Relations Officer Marcella Recchia Sergio Matsumoto -- Citi -- Analyst Alan Alanis -- Banco Santander -- Analyst Lucas Ferreira -- J.P. Morgan -- Analyst Unknown speaker Isabella Simonato -- Bank of America Merrill Lynch -- Analyst Robert Ottenstein -- Evercore ISI -- Analyst Gustavo Troyano -- Itau BBA -- Analyst More ABEV analysis All earnings call transcripts This article is a transcript of this conference call produced for The Motley Fool. Companhia de Bebidas das Americas (NYSE: ABEV) Q4 2021 Earnings Call Feb 24, 2022, 10:30 a.m. Given BEES marketplace growth trend in 2021 and our plan going forward in countries like Brazil and the Dominican Republic, starting in Q1 2022 earnings results, we will report our net revenue per hectoliter, our COGS per hectoliter and our cash box per hectoliter performance, excluding the impact of these non-Ambev products sold under BEES marketplace. | Operator [Operator signoff] Duration: 64 minutes Call participants: Jean Jereissati -- Chief Executive Officer Lucas Lira -- Chief Financial Officer and Investor Relations Officer Marcella Recchia Sergio Matsumoto -- Citi -- Analyst Alan Alanis -- Banco Santander -- Analyst Lucas Ferreira -- J.P. Morgan -- Analyst Unknown speaker Isabella Simonato -- Bank of America Merrill Lynch -- Analyst Robert Ottenstein -- Evercore ISI -- Analyst Gustavo Troyano -- Itau BBA -- Analyst More ABEV analysis All earnings call transcripts This article is a transcript of this conference call produced for The Motley Fool. Companhia de Bebidas das Americas (NYSE: ABEV) Q4 2021 Earnings Call Feb 24, 2022, 10:30 a.m. What's more, our consistent improvement on the operational side also translated into better performance when it comes to our value-creation agenda, with return on invested capital, economic profit, and free cash flow all back to growth, and all this while, first, continuing to invest behind our business transformation and future growth, with capex for the year totaling BRL 7.7 billion, which is nearly 64% above 2020 levels, and sales and marketing growing 15% to support our portfolio strategy and innovation pipeline. | Operator [Operator signoff] Duration: 64 minutes Call participants: Jean Jereissati -- Chief Executive Officer Lucas Lira -- Chief Financial Officer and Investor Relations Officer Marcella Recchia Sergio Matsumoto -- Citi -- Analyst Alan Alanis -- Banco Santander -- Analyst Lucas Ferreira -- J.P. Morgan -- Analyst Unknown speaker Isabella Simonato -- Bank of America Merrill Lynch -- Analyst Robert Ottenstein -- Evercore ISI -- Analyst Gustavo Troyano -- Itau BBA -- Analyst More ABEV analysis All earnings call transcripts This article is a transcript of this conference call produced for The Motley Fool. Companhia de Bebidas das Americas (NYSE: ABEV) Q4 2021 Earnings Call Feb 24, 2022, 10:30 a.m. So we are confident that we are structurally better to address the year and starting the year with a market share much above that we started the previous year, OK? |
28219.0 | 2022-01-31 00:00:00 UTC | 7 Best Cheap Stocks to Buy for February | ABEV | https://www.nasdaq.com/articles/7-best-cheap-stocks-to-buy-for-february | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
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Banco Santander Brasil SA (ADR)(NYSE:BSBR)
Lloyds Banking Group(NYSE:LYG)
Energy Transfer LP(NYSE:ET)
Ambev(NYSE:ABEV)
Petroleo Brasileiro(NYSE:PBR)
Banco Bilbao Vizcaya Argentaria(NYSE:BBVA)
Telefonica S.A. (ADR)(NYSE:TEF)
Cheap Stocks to Buy: Banco Santander Brasil SA (ADR) (BSBR)
Source: Shutterstock
Banco Santander is a Spanish international bank, which is among the top 20 financial institutions globally.
Results in the past few years show a mixed picture, but we see healthy improvements of late. Perhaps the most important development for the bank is its new dividend policy.
It plans to retain 40% of its net income for shareholder rewards and employ a more holistic approach. The goal is to offer dividends and conduct massive share buybacks to strengthen its financial sheet.
Similarly, saw a healthy rise in fee income and gains on financial assets. Overall, total operating income rose by 24% to €2.17 billion during the third quarter.Attributable profits increased by 24%.
It looks as if 2022 is shaping up well, and it could be the year where BSBR stock builds some serious momentum.
Lloyds Banking Group (LYG)
Source: Tomasz Bidermann / Shutterstock.com
Lloyd Banking Group is one of the largest financial services firms operating in the United Kingdom.
It possesses a market cap of over $50 billion and rock-solid fundamentals. Net income margins and revenues have grown by double-digits in the past 12 months.
The excitement surrounding the restoration of its dividends adds the cherry on top for LYG stock.
7 IT Stocks to Buy No Matter What Earnings Season Brings
Lloyd bank offers highly diversified bank offerings and is the largest mortgage lender in the country. It has focused on expanding its revenue base while ensuring profitability metrics remain on point.
With the potential increase in interest rates and strength from real estate, LYG is a cheap stock that could race past expectations this year.
Cheap Stocks to Buy: Energy Transfer LP (ET)
Source: Casimiro PT / Shutterstock.com
Energy Transfer is one of the top midstream oil and gas players in North America.
Over the years, its shares have taken a hit due to its rising debt levels and dividend cuts.
In the past few quarters, however, it’s been deleveraging impressively. Its strong cash flows have facilitated a rise of 15% in its dividends. The company boasts a spectacular dividend yield of roughly 7.5%, with robust growth potential.
The company is dialed back on its investments to under $1 billion, down significantly from its high point of roughly $8 billion.
The goal is to reduce debt levels and improve its financial flexibility using free cash flows and share buybacks. A more streamlined company is likely to offer substantial upside to ET stockholders.
Ambev (ABEV)
Source: rafapress / Shutterstock.com
Ambev is a Brazilian beverage specialist with a strong international presence.
The business has been on fire of late, with close to 26% growth on a year-over-year basis. Moreover, its diluted EPS has grown by over 80% in the past 12 months.
In its most recent quarter, the company saw vigorous growth across all its segments. Moreover, during its third quarter, net revenues shot up to R$18.5 billion, up a tremendous 20.8% from the prior-year period.
Additionally, commercial momentum has driven solid EBITDA growth of roughly 9.4% from the third quarter of 2020.
As we look ahead, the Latin American beer market, Ambev’s main business region, is set to grow to approximately $125 billion by 2025. Hence, ABEV stock is in for a remarkable time ahead.
Cheap Stocks to Buy: Petroleo Brasileiro (PBR)
Source: A.PAES / Shutterstock.com
Petrobras is a Brazilian oil and gas giant involved in a wide variety of activities in the sector.
With the reopening of economies and the resultant increase in demand for oil, PBR stock stands to benefit immensely. Moreover, the company is in a great position to take advantage of the industry’s return to profitability.
The company’s operating results are firmly in the green, with double-digit growth in revenues, EBITDA and free cash flows.
With its reliance on tankers to distribute fuel, it occupies a highly advantaged position in terms of profitability. Additionally, its geopolitical risk is under check, and it will be spending $55 billion from 2021 to 2025, leaving its peers in retreat.
Banco Bilbao Vizcaya Argentaria (BBVA)
Source: Shutterstock
BBVA is amongst the big three banks in Spain and has been one of the consistent performers among European banks in the past several years.
This November, its shares sold off after it acquired Turkish financial services firm Garanti. The deal is likely to boost earnings and return on equity by a significant margin, but the market considers Garanti a risky bet.
Garanti’s risks are well-contained, and the inclusion of the business will bode remarkably well for BBVA.
10 Stocks to Buy That Could Make You a Millionaire in 2022
The firm has sold its U.S. subsidiary to PNC bank for $11.6 billion. Consequently, BBVA now has sizeable cash till with which it can acquire new businesses and boost shareholder value. Moreover, BBVA stock trades below two times forward sales, which is considerably lower than the market.
Telefonica S.A. (ADR) (TEF)
Source: Shutterstock
Shares of Spanish telecom giant Telefonica have dramatically underperformed its peers over the past several years.
Its operational capabilities have been limited due to the sizeable amount of debt it carries along with its significant dividend commitments.
In its most recent quarter, its results have been impressive, along with some of its recent encouraging moves.
The company swung to a giant profit of $818 million during its third quarter, posting $187 million in losses during the same quarter last year. It has sold off its European and South American towers giving it the much-needed cash injection it needs.
The company continues to invest in its digital arm, which manages its AI, cybersecurity and Big Data businesses. Digital operations can yield over €2,000 million in revenues this year. TEF stock could be a fascinating cheap stock play this year.
On the date of publication, Muslim Farooque did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Muslim Farooque is a keen investor and an optimist at heart. A life-long gamer and tech enthusiast, he has a particular affinity for analyzing technology stocks. Muslim holds a bachelor’s of science degree in applied accounting from Oxford Brookes University.
The post 7 Best Cheap Stocks to Buy for February appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Banco Santander Brasil SA (ADR)(NYSE:BSBR) Lloyds Banking Group(NYSE:LYG) Energy Transfer LP(NYSE:ET) Ambev(NYSE:ABEV) Petroleo Brasileiro(NYSE:PBR) Banco Bilbao Vizcaya Argentaria(NYSE:BBVA) Telefonica S.A. (ADR)(NYSE:TEF) Cheap Stocks to Buy: Banco Santander Brasil SA (ADR) (BSBR) Source: Shutterstock Banco Santander is a Spanish international bank, which is among the top 20 financial institutions globally. Ambev (ABEV) Source: rafapress / Shutterstock.com Ambev is a Brazilian beverage specialist with a strong international presence. Hence, ABEV stock is in for a remarkable time ahead. | Banco Santander Brasil SA (ADR)(NYSE:BSBR) Lloyds Banking Group(NYSE:LYG) Energy Transfer LP(NYSE:ET) Ambev(NYSE:ABEV) Petroleo Brasileiro(NYSE:PBR) Banco Bilbao Vizcaya Argentaria(NYSE:BBVA) Telefonica S.A. (ADR)(NYSE:TEF) Cheap Stocks to Buy: Banco Santander Brasil SA (ADR) (BSBR) Source: Shutterstock Banco Santander is a Spanish international bank, which is among the top 20 financial institutions globally. Ambev (ABEV) Source: rafapress / Shutterstock.com Ambev is a Brazilian beverage specialist with a strong international presence. Hence, ABEV stock is in for a remarkable time ahead. | Banco Santander Brasil SA (ADR)(NYSE:BSBR) Lloyds Banking Group(NYSE:LYG) Energy Transfer LP(NYSE:ET) Ambev(NYSE:ABEV) Petroleo Brasileiro(NYSE:PBR) Banco Bilbao Vizcaya Argentaria(NYSE:BBVA) Telefonica S.A. (ADR)(NYSE:TEF) Cheap Stocks to Buy: Banco Santander Brasil SA (ADR) (BSBR) Source: Shutterstock Banco Santander is a Spanish international bank, which is among the top 20 financial institutions globally. Ambev (ABEV) Source: rafapress / Shutterstock.com Ambev is a Brazilian beverage specialist with a strong international presence. Hence, ABEV stock is in for a remarkable time ahead. | Banco Santander Brasil SA (ADR)(NYSE:BSBR) Lloyds Banking Group(NYSE:LYG) Energy Transfer LP(NYSE:ET) Ambev(NYSE:ABEV) Petroleo Brasileiro(NYSE:PBR) Banco Bilbao Vizcaya Argentaria(NYSE:BBVA) Telefonica S.A. (ADR)(NYSE:TEF) Cheap Stocks to Buy: Banco Santander Brasil SA (ADR) (BSBR) Source: Shutterstock Banco Santander is a Spanish international bank, which is among the top 20 financial institutions globally. Ambev (ABEV) Source: rafapress / Shutterstock.com Ambev is a Brazilian beverage specialist with a strong international presence. Hence, ABEV stock is in for a remarkable time ahead. |
28220.0 | 2021-12-22 00:00:00 UTC | BAD ETF: The Top “Sin Stock” Holdings in the New Anti-ESG Fund That Debuts Today | ABEV | https://www.nasdaq.com/articles/bad-etf%3A-the-top-sin-stock-holdings-in-the-new-anti-esg-fund-that-debuts-today | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
There’s a new ETF on the block from BAD Investment Company and it seeks to offer investments in sin stocks.
Source: van David / Shutterstock.com
Tommy Mancuso, founder and president of BAD, said this about the ETF.
“With the proliferation of whitewashed ESG products and market sub-segments like sports betting and cannabis becoming more widely accepted socially and legally, we saw an opportunity to fill what we perceived as a gap in the marketplace.”
We’re diving into the top holdings of the BAD ETF (NYSE:BAD) below!
7 Stay-At-Home Stocks to Buy as Remote Work Lingers On
Top 10 BAD ETF Top Holdings
Brown-Forman (NYSE:BF.B) stock takes the top spot with holdings of 2.5%.
Ambev (NYSE:ABEV) shares are up next with holdings of 2.4%.
Aurora Cannabis (NASDAQ:ACB) stock joins the list with holdings of 2.3%.
Accel Entertainment (NYSE:ACEL) shares take their spot with holdings of 1.7%.
Bally’s Corp (NYSE:BALY) stock is next with holdings of 1.6%.
Abbvie (NYSE:ABBV) shares are also on the list with holdings of 1.6%.
AstraZeneca (NASDAQ:AZN) is another member of the sin stocks list with a 1.6% holding.
Amgen (NASDAQ:AMGN) shares are another contestant with holdings of 1.6%.
Biogen (NASDAQ:BIIB) stock takes its place on the list with a similar 1.6% holding.
Beigene (NASDAQ:BGNE) shares close out the top Bad ETF holdings list at 1.4%.
The BAD ETF has a strange mix of companies in its mix. That includes cannabis plays, those favored by meme stock investors, as well as penny stocks and pharmaceutical companies. It’s an interesting mix that investors will want to keep an eye on, even if they don’t invest in the ETF.
Investors seeking morestock market news todayare in luck!
InvestorPlace has thelatest stock market newstraders need to know about for Wednesday! That includes everything that’s happening with shares of Red Cat (NASDAQ:RCAT), Allakos (NASDAQ:ALLK), and Tesla (NASDAQ:TSLA) today. You can get up to speed on all of that news at the following links!
More Wednesday Stock Market News
RCAT Stock: 7 Things to Know About the Contract Powering Red Cat Today
ALLK Stock Alert: Why Is Allakos Absolutely Plunging Today?
New NHTSA Probe Won’t Mean ‘Game Over’ for Tesla Stock in 2022
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
The post BAD ETF: The Top “Sin Stock” Holdings in the New Anti-ESG Fund That Debuts Today appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Ambev (NYSE:ABEV) shares are up next with holdings of 2.4%. Beigene (NASDAQ:BGNE) shares close out the top Bad ETF holdings list at 1.4%. New NHTSA Probe Won’t Mean ‘Game Over’ for Tesla Stock in 2022 On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. | Ambev (NYSE:ABEV) shares are up next with holdings of 2.4%. 7 Stay-At-Home Stocks to Buy as Remote Work Lingers On Top 10 BAD ETF Top Holdings Brown-Forman (NYSE:BF.B) stock takes the top spot with holdings of 2.5%. That includes everything that’s happening with shares of Red Cat (NASDAQ:RCAT), Allakos (NASDAQ:ALLK), and Tesla (NASDAQ:TSLA) today. | Ambev (NYSE:ABEV) shares are up next with holdings of 2.4%. InvestorPlace - Stock Market News, Stock Advice & Trading Tips There’s a new ETF on the block from BAD Investment Company and it seeks to offer investments in sin stocks. 7 Stay-At-Home Stocks to Buy as Remote Work Lingers On Top 10 BAD ETF Top Holdings Brown-Forman (NYSE:BF.B) stock takes the top spot with holdings of 2.5%. | Ambev (NYSE:ABEV) shares are up next with holdings of 2.4%. InvestorPlace - Stock Market News, Stock Advice & Trading Tips There’s a new ETF on the block from BAD Investment Company and it seeks to offer investments in sin stocks. Abbvie (NYSE:ABBV) shares are also on the list with holdings of 1.6%. |
28221.0 | 2021-12-14 00:00:00 UTC | Tuesday's ETF with Unusual Volume: KXI | ABEV | https://www.nasdaq.com/articles/tuesdays-etf-with-unusual-volume%3A-kxi | nan | nan | The iShares Global Consumer Staples ETF is seeing unusually high volume in afternoon trading Tuesday, with over 609,000 shares traded versus three month average volume of about 76,000. Shares of KXI were off about 0.4% on the day.
Components of that ETF with the highest volume on Tuesday were Ambev, trading up about 1.1% with over 12.2 million shares changing hands so far this session, and Coca-cola, up about 0.1% on volume of over 11.2 million shares. BRFS is the component faring the best Tuesday, higher by about 3.3% on the day, while Costco Wholesale is lagging other components of the iShares Global Consumer Staples ETF, trading lower by about 2.9%.
VIDEO: Tuesday's ETF with Unusual Volume: KXI
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The iShares Global Consumer Staples ETF is seeing unusually high volume in afternoon trading Tuesday, with over 609,000 shares traded versus three month average volume of about 76,000. Components of that ETF with the highest volume on Tuesday were Ambev, trading up about 1.1% with over 12.2 million shares changing hands so far this session, and Coca-cola, up about 0.1% on volume of over 11.2 million shares. BRFS is the component faring the best Tuesday, higher by about 3.3% on the day, while Costco Wholesale is lagging other components of the iShares Global Consumer Staples ETF, trading lower by about 2.9%. | The iShares Global Consumer Staples ETF is seeing unusually high volume in afternoon trading Tuesday, with over 609,000 shares traded versus three month average volume of about 76,000. BRFS is the component faring the best Tuesday, higher by about 3.3% on the day, while Costco Wholesale is lagging other components of the iShares Global Consumer Staples ETF, trading lower by about 2.9%. VIDEO: Tuesday's ETF with Unusual Volume: KXI The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The iShares Global Consumer Staples ETF is seeing unusually high volume in afternoon trading Tuesday, with over 609,000 shares traded versus three month average volume of about 76,000. Components of that ETF with the highest volume on Tuesday were Ambev, trading up about 1.1% with over 12.2 million shares changing hands so far this session, and Coca-cola, up about 0.1% on volume of over 11.2 million shares. BRFS is the component faring the best Tuesday, higher by about 3.3% on the day, while Costco Wholesale is lagging other components of the iShares Global Consumer Staples ETF, trading lower by about 2.9%. | Components of that ETF with the highest volume on Tuesday were Ambev, trading up about 1.1% with over 12.2 million shares changing hands so far this session, and Coca-cola, up about 0.1% on volume of over 11.2 million shares. BRFS is the component faring the best Tuesday, higher by about 3.3% on the day, while Costco Wholesale is lagging other components of the iShares Global Consumer Staples ETF, trading lower by about 2.9%. VIDEO: Tuesday's ETF with Unusual Volume: KXI The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. |
28222.0 | 2021-12-13 00:00:00 UTC | Monday's ETF with Unusual Volume: KXI | ABEV | https://www.nasdaq.com/articles/mondays-etf-with-unusual-volume%3A-kxi | nan | nan | The iShares Global Consumer Staples ETF is seeing unusually high volume in afternoon trading Monday, with over 2.5 million shares traded versus three month average volume of about 33,000. Shares of KXI were off about 0.3% on the day.
Components of that ETF with the highest volume on Monday were Coca-cola, trading up about 2.4% with over 12.2 million shares changing hands so far this session, and Ambev, down about 0.9% on volume of over 6.9 million shares. Mccormick is the component faring the best Monday, higher by about 2.6% on the day, while BRFS is lagging other components of the iShares Global Consumer Staples ETF, trading lower by about 3.2%.
VIDEO: Monday's ETF with Unusual Volume: KXI
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The iShares Global Consumer Staples ETF is seeing unusually high volume in afternoon trading Monday, with over 2.5 million shares traded versus three month average volume of about 33,000. Components of that ETF with the highest volume on Monday were Coca-cola, trading up about 2.4% with over 12.2 million shares changing hands so far this session, and Ambev, down about 0.9% on volume of over 6.9 million shares. Mccormick is the component faring the best Monday, higher by about 2.6% on the day, while BRFS is lagging other components of the iShares Global Consumer Staples ETF, trading lower by about 3.2%. | The iShares Global Consumer Staples ETF is seeing unusually high volume in afternoon trading Monday, with over 2.5 million shares traded versus three month average volume of about 33,000. Mccormick is the component faring the best Monday, higher by about 2.6% on the day, while BRFS is lagging other components of the iShares Global Consumer Staples ETF, trading lower by about 3.2%. VIDEO: Monday's ETF with Unusual Volume: KXI The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The iShares Global Consumer Staples ETF is seeing unusually high volume in afternoon trading Monday, with over 2.5 million shares traded versus three month average volume of about 33,000. Components of that ETF with the highest volume on Monday were Coca-cola, trading up about 2.4% with over 12.2 million shares changing hands so far this session, and Ambev, down about 0.9% on volume of over 6.9 million shares. Mccormick is the component faring the best Monday, higher by about 2.6% on the day, while BRFS is lagging other components of the iShares Global Consumer Staples ETF, trading lower by about 3.2%. | The iShares Global Consumer Staples ETF is seeing unusually high volume in afternoon trading Monday, with over 2.5 million shares traded versus three month average volume of about 33,000. Mccormick is the component faring the best Monday, higher by about 2.6% on the day, while BRFS is lagging other components of the iShares Global Consumer Staples ETF, trading lower by about 3.2%. VIDEO: Monday's ETF with Unusual Volume: KXI The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. |
28223.0 | 2021-11-18 00:00:00 UTC | After Hours Most Active for Nov 18, 2021 : X, VRT, VICI, SKT, ABEV, TAL | ABEV | https://www.nasdaq.com/articles/after-hours-most-active-for-nov-18-2021-%3A-x-vrt-vici-skt-abev-tal | nan | nan | The NASDAQ 100 After Hours Indicator is up .16 to 16,483.14. The total After hours volume is currently 21,874,566 shares traded.
The following are the most active stocks for the after hours session:
United States Steel Corporation (X) is unchanged at $24.29, with 4,105,299 shares traded. X's current last sale is 85.23% of the target price of $28.5.
Vertiv Holdings, LLC (VRT) is unchanged at $26.59, with 3,079,983 shares traded. As reported by Zacks, the current mean recommendation for VRT is in the "buy range".
VICI Properties Inc. (VICI) is unchanged at $29.25, with 2,963,533 shares traded. As reported by Zacks, the current mean recommendation for VICI is in the "buy range".
Tanger Factory Outlet Centers, Inc. (SKT) is -0.1 at $21.41, with 2,912,709 shares traded. SKT's current last sale is 107.05% of the target price of $20.
Ambev S.A. (ABEV) is unchanged at $3.11, with 2,097,113 shares traded. ABEV's current last sale is 88.86% of the target price of $3.5.
TAL Education Group (TAL) is unchanged at $4.36, with 1,930,768 shares traded. TAL's current last sale is 63.19% of the target price of $6.9.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Ambev S.A. (ABEV) is unchanged at $3.11, with 2,097,113 shares traded. ABEV's current last sale is 88.86% of the target price of $3.5. United States Steel Corporation (X) is unchanged at $24.29, with 4,105,299 shares traded. | Ambev S.A. (ABEV) is unchanged at $3.11, with 2,097,113 shares traded. ABEV's current last sale is 88.86% of the target price of $3.5. As reported by Zacks, the current mean recommendation for VRT is in the "buy range". | Ambev S.A. (ABEV) is unchanged at $3.11, with 2,097,113 shares traded. ABEV's current last sale is 88.86% of the target price of $3.5. The total After hours volume is currently 21,874,566 shares traded. | Ambev S.A. (ABEV) is unchanged at $3.11, with 2,097,113 shares traded. ABEV's current last sale is 88.86% of the target price of $3.5. The NASDAQ 100 After Hours Indicator is up .16 to 16,483.14. |
28224.0 | 2021-10-29 00:00:00 UTC | Companhia de Bebidas das Americas (ABEV) Q3 2021 Earnings Call Transcript | ABEV | https://www.nasdaq.com/articles/companhia-de-bebidas-das-americas-abev-q3-2021-earnings-call-transcript-2021-10-29 | nan | nan | Image source: The Motley Fool.
Companhia de Bebidas das Americas (NYSE: ABEV)
Q3 2021 Earnings Call
Oct 28, 2021, 11:30 a.m. ET
Contents:
Prepared Remarks
Questions and Answers
Call Participants
Prepared Remarks:
Operator
Good morning, and thank you for waiting. We would like to welcome everyone to Ambev's third quarter 2021 results conference call. Today with us, we have Mr. Jean Jereissati, CEO for Ambev; and Mr.
Lucas Lira, CFO and investor relations officer. As a reminder, a slide presentation is available for downloading on our website, ri.ambev.com.br, as well as through the webcast link of this call. We would like to inform you that this event is being recorded. [Operator instructions] Before proceeding, let me mention that forward-looking statements are being made under the safe harbor of the Securities Litigation Reform Act of 1996.
Forward-looking statements are based on the beliefs and assumptions of Ambev's management and on information currently available to the company. They involve risks, uncertainties and assumptions because they relate to future events and therefore depend on circumstance that may or may not occur in the future. Investors should understand that general economic conditions, industry conditions and other operating factors could also affect the future results of Ambev and could cause results to differ materially from those expressed in such forward-looking statements. I would also like to remind everyone that, as usual, the percentage changes that we'll be discussing during today's call are both organic and normalized in nature; and unless otherwise stated, percentage changes refer to comparatives with third quarter 2021 results.
Normalized figures refers to performance measures before exceptional items which are either income or expenses that do not occur regularly as part of Ambev's normal activities. As normalized figures are non-GAAP measures, the company disclosed the consolidated profits, EPS, EBIT and EBITDA on a fully reported basis in the earnings release. Now I will turn the conference over to Mr. Jean Jereissati, CEO for Ambev.
Mr. Jereissati, you may begin your conference.
Jean Jereissati -- Chief Executive Officer
Hello, everyone. Thanks for joining our third quarterearnings call This is our last call of the year, so I would like to do things a little bit differently today. I will cover the highlights of the quarter in a moment, but I would like to begin talking about people.
I have been very vocal about how Ambev is on a transformation journey. Transforming a company like ours, it's hard. It takes time. It's painful.
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There is a lot of skepticism and setbacks. In many respects, we are learning as we go, but we are doing this together as a team. A couple of weeks ago, something happened that personally meant a lot to me. Ambev was recognized by Great Place to Work as the fifth best large company in Brazil to work for.
Just to give you an idea of how transformational this is: In 2020, we ranked 27. A lot of great people built this company, and we are a company of owners. Our people has been and will always be the heart and the soul of Ambev, so I'm very proud to see that my team has been humble enough to face the brutal facts of the last few years and learned from our mistakes; has shown enormous resilience in the face of COVID; made bold bets and delivered results consistently as we recover from the pandemic and, at the same time, has helped the society; has stayed committed to building a better, more collaborative, diverse, innovative and more sustainable company for the long term, and is happier and more engaged along the way. And this is true not only in Brazil but also across the other markets where we operate, so a big thank you to everyone that have been making this transformation happen on a daily basis.
The third quarter was another step on this transformation journey, and frankly, it was another solid step in the right direction. I ended the last call saying that our top-line momentum would be put to test in the second semester. And in Q3, we delivered 20% net revenue growth, with volumes up nearly 8% year over year. Nine of our 10 markets delivered volume growth versus last year, and eight of them grew volumes ahead of '19.
And as a result, we delivered 180 million hectoliters on a rolling 12-month basis, 8 million hectoliters above our peak back in 2015. In this quarter, we delivered another solid net revenue per hectoliter performance, which grew 12% versus Q3 2020. Comparing with '19, net revenue was up 43% on a consolidated level in the quarter and year to date up 31%, versus '19. If we break down this performance by region: Our international operations generally continued to bounce back nicely.
In CAC, volumes grew nearly 9% year over year and are just slightly below 2019 levels. As mobility restrictions continue to ease, thanks to vaccination, our volumes continue to recover, led by the Dominican Republic and Panama, with the core plus and high-end portfolios continuing to gain weight in our mix. In LAS, volumes grew double digits versus 2020 and '19. Argentina, Chile and Paraguay drove this growth, also thanks to our core plus and high-end portfolios.
Bolivia posted strong recovery from 2020 but remains below 2019 levels, and there we still have a lot of work to do. Canada, however, had a tougher quarter in terms of top line. Although it's still above pre-pandemic levels, net revenue in the quarter declined roughly 2.5% versus Q3 2020, with volumes down almost 7%, while net revenue per hectoliter grew 4.5%. The industry was still impacted by mobility restrictions; and we faced some supply chain disruptions, mostly in Quebec.
Turning to Brazil, starting with NAB. Net revenue increased 22% in the quarter versus 2020 and nearly 26% against '19. Volumes were up nearly 10%, compared to Q3 2020 and almost 15% versus '19. This performance was mainly driven by Gatorade, H2OH! and Guaraná Antarctica, all of which grew above 2019.
And last but not least, Brazil Beer top line grew 16% in the quarter versus 2020 and 51% versus 2019. Our step change in volumes continued in the quarter with 7.5% growth versus 2020 and almost 35% growth versus 2019, outperforming the industry and gaining market share. This is a result of a commercial strategy that has consistently continued to work despite COVID, despite macro headwinds and despite competition. It is not just one thing that's working.
It's a combination of a healthier portfolio, at first, with stronger legacy brands plus a strong innovation pipeline which once again represented over 20% of our net revenues. In addition, we increased the number of fans of our brands by 3 million people since 2019. Second, a better service level, reaching 53% Net Promoter Score in the quarter; third, our technology big bets, which have continued to structurally improve how we connect with consumers and solve our customers' pain points. For instance, BEES is now used by 85% of our active customers in Brazil, currently offering over 350 products from 40 third parties of different industries.
In addition to that, yesterday, it was announced that BRF products will be made available through BEES, which is consistent with our desire to offer better service and solutions to our customers. And finally, great execution of our pack and channel strategy, with the 300 ml returnable glass bottles leading the way as the on premise continues to reopen. All in all, year-to-date top line is up 28%, with volumes growing 12% and net revenue per hectoliter increasing 14% versus 2020. When comparing with '19, we are up 31% in top line, 11% in volumes and 17% in net revenue per hectoliter.
During our last three calls, I took the opportunity to focus on how each of our technological platforms in Brazil are enabling our transformation as a company: Ze Delivery in Q4 of last year; BEES in Q1 2021; and Donus, our fintech, last quarter. Today, I would like to spend some time on what I like to call the logistics revolution that is underway to allow these platforms to fulfill their potential. As Ambev transforms itself into a platform with inspiring brands that connects people and the ecosystem, creating shared value, a best-in-class logistics operation is a must. In the '90s, we created our second-tier logistics operations, betting big on direct distribution, with currently more than 100 distribution centers spread across Brazil and making 80,000 deliveries per day.
In the last two years, we have started to set up a third-tier logistics operation. Approximately $100 million have been invested to-date on several footprint and technology-related initiatives to better prepare us for these new operating models. For instance, in terms of creating a delivery footprint designed for growth, we are investing behind small urban distribution centers near high-density regions, making our delivery capabilities more flexible and agile. These urban distribution centers or UDCs, how we call, operate only with small models like bikes, lightweight motorcycles and small vans, which are faster and cheaper for small drop-size orders.
The idea is to provide a better service level for small box using the right model with more efficient occupancy rates and lower carbon emissions, leaving bigger deliveries for bigger trucks. The UDCs integrate B2B, DTC and the marketplace platforms. And we are also piloting offering services to partners, gaining even more efficiency. We currently have five UDCs in operations, three of them in Sao Paulo.
We will end up the year with 14, and we are just starting. To wrap things up, some quick words regarding our journey, the remainder of the year and 2022. 2020 was a very tough year, but we stood our ground. 2021 has also been challenging, but we have continued to improve our performance in a consistent way, led by our V-shaped top-line recovery, so I'm looking forward to what 2022 will bring with its risks and opportunities.
Lucas will go into more detail, but although Q4 will be another tough comp, we will continue to work to bring our nominal consolidated normalized EBITDA for the full year back to 2019 levels. And based on our year-to-date performance, we believe there is room for improving this number, close a better 2021 and be better positioned for the next year. With that said, let me hand it over to Lucas, who will cover our financial performance. Thank you, everybody.
Lucas Lira -- Chief Financial Officer and Investor Relations
Thanks, Jean. Good morning and good afternoon, everyone. I would also like to start by talking about transformation, so I will kick off with climate action, where we also took a transformational step in the right direction during the third quarter. Q3 was marked by the announcement of our first carbon-neutral brewery and malt plants in Brazil.
Our Ponta Grossa Brewery in the state of Paraná and our malt plant in Passo Fundo in the state of Rio Grande do Sul delivered 90% reduction of CO2 emissions versus 2017 and had the remaining 10% emissions neutralized via carbon credits. This process began in 2012 when we built these plants designed to be low-carbon operations, and we're proud to see it come to life. To get here, we focused on four things: heat produced on site from biomass boilers; green energy produced on site from biogas of the effluent treatment system; energy consumption efficiency leading to more than 15% total purchased energy reduction; and 100% electricity purchased from renewable resources, in this case hydro. As next steps, we will implement electrical forklifts, starting in Q4 2021; and build on-site solar farms, starting next year.
And these investments make total financial sense as well. Our decisions to move toward carbon neutrality has not only led to efficiency savings in terms of energy consumption but also allowed us to secure renewable energy sources at more attractive rates than before. Also this milestone is not an isolated event. We're developing a road map to have 100% of our production facilities become at least carbon neutral in the future, which we expect to be able to share in the coming months.
Turning to our financial performance in the quarter. Overall, we saw a similar dynamic to the first half. EBITDA growth, driven by top-line recovery, partially offset by cost and expense headwinds. The difference this time is that, in Q3, we faced much tougher top-line comps than during the first half of the year, but the team's disciplined execution came through once again.
In the quarter, net revenue grew nearly 21% organically, lapping 15% organic growth in Q3 2020. EBITDA grew approximately 9% organically against 1.4% organic growth in Q3 2020. Normalized profit grew about 50%, following 2.2% growth in Q3 2020, while operational cash flow declined almost 10%, lapping 99% growth in Q3 2020. Versus Q3 2019, net revenue grew 43%.
EBITDA was up almost 16% in organic terms, while normalized profit increased 54% and operational cash flow improved 80%. Margin pressure, unfortunately, remains a reality, with gross margin contracting to 50% and EBITDA margin contracting to slightly below 30% in the quarter. However, we did see sequential EBITDA margin improvement versus Q2 2021, which stood at 26% at the consolidated level if you disregard the one-off tax credits in Brazil. We still have a long way to go, but we see this as a relevant improvement nonetheless.
Now let me go through the main cost and expense drivers. COGS per hectoliter increased 18.5% on a consolidated basis in the quarter. We once again saw adverse FX and commodity costs as the main factors, particularly in Brazil, while better mix offset higher unhedged commodity costs. Brazil Beer cash COGS per hectoliter in Q3 totaled almost 16%, which should be the lowest growth for the year.
FX and commodity pressures should still be an issue in Q4, but we continue to expect Brazil Beer cash COGS per hectoliter to grow in the low 20s for the full year. As for cash SG&A, year-over-year growth totaled 23.6% on a consolidated basis. Sales and marketing and distribution expenses grew mid-teens, so below net revenue growth. The main drivers here were the same ones from Q2, albeit at lower levels of growth year over year.
And administrative expenses were nearly 81% higher year over year, which was primarily a result of provisions for variable comp since our performance for the year was once again better than expected. And should our performance remain on track during Q4, variable comp accruals should continue to impact our year-over-year performance. In addition, it's worth sharing that, when we break down our administrative expenses ex variable comp accruals in regions like Brazil, for instance, what we saw in the quarter, and this is also true since 2019, is that overhead packages are growing below inflation, with the exception of two packages: first, our investments behind B2B, D2C and fintech platforms; and second, technology spends to enable our transformation. Despite the near-term impact, we have no doubt whatsoever that these investments make sense given our overall strategy.
And we've managed to find nonworking dollar savings in other lines to fund this transformation to a great extent. And as these platforms scale up and we find smart ways to leverage Ambev's scale and reach, we do see opportunity for more attractive returns in the future. Looking ahead, given year-to-date performance and should the recovery continue in the final months of the year, we feel more confident in our ability to deliver on our two main ambitions for 2021 despite a tough comp in Q4: first, a healthy balance between improved volume and improved net revenue per hectoliter growth as part of our top line-led recovery across markets. Year-to-date volumes are up 12.3% and net revenue per hectoliter is growing 14.1%.
And second, normalized consolidated EBITDA performance for the full year above 2019 levels in nominal terms, which we more and more see as feasible. Year-to-date normalized consolidated EBITDA stands at approximately BRL 16 billion, which is 4.5% above 2019 in nominal terms excluding the one-off tax credits in Brazil. Finally, some quick comments on our financial priorities of protecting liquidity and improving our return on invested capital. Liquidity remains solid given strong cash generation despite the several headwinds we've faced since last year, but the environment does remain uncertain and volatile, so we continue to believe a prudent approach remains warranted.
Our use-of-cash priorities also remain unchanged, reinvest for growth organically and nonorganically and return excess cash to shareholders over time. And in terms of improving return on invested capital, the name of the game continues to be operating efficiency coupled with better resource allocation across the company. Given the evolution of our business such as our bets behind B2B, D2C and fintech platforms, we believe that, when thinking about profitability, we need to look beyond margin ratios and also focus on return ratios. Don't get me wrong: We will always focus on improving the drivers of margin ratios for each of our segments and ventures, but given their different financial profiles, we've been focusing more and more on return ratios to manage our business.
2020 was tough in terms of profitability in both dimensions, but the good news is that 2021 has the potential to deliver better returns than 2020, which is important progress despite sustained margin pressure. Our journey of continuous and consistent improvement is well underway since 2020, step by step. This goes way beyond quarterly performance, and we will stay the course toward creating value over the long term. Thank you, and we can now go to Q&A.
Questions & Answers:
Operator
[Operator instructions] Our first question comes from Robert Ottenstein, Evercore.
Robert Ottenstein -- Evercore ISI -- Analyst
Great. Thank you very much. There's -- from what I can tell, there's really been kind of an -- there's a lot of background noise there, an unprecedented kind of change in some of the competitive dynamics in Brazil, particularly in terms of categories, with your leading competitor apparently abandoning a lot of their core value brands and just kind of totally restructuring their overall portfolio. Can you talk about what is going on in the Brazilian beer business in terms of pricing architecture, what the opportunities are as you look at that? You're, obviously, bringing in Spaten as kind of a core plus proposition, but what does it mean when you have such a dramatic change in the competitive landscape; and you have a whole portion of the business, economy or value beers, being walked away from by a major competitor? Thank you.
Jean Jereissati -- Chief Executive Officer
Thank you very much for the question, Robert. The Brazilian market has always been very competitive in general, and it will continue to be for a while, but I mentioned at some point in time that -- just when I arrived, that I would foresee the competitive landscape more with the trends on our side. Since that, we have been working a lot on our plan, learning consumer trends, understanding the competitive landscape. And we are very excited about what we have been accomplishing.
The numbers of volumes that we had this quarter, they show that. If you look at the numbers, it is not just about competition. We are really expanding our reach, expanding the number of consumers [Inaudible] transaction in our brands, so we are really very excited about our plan. Innovation already represents more than 20% of our net revenue, so we are taking the right products in the right places.
So we have been talking a lot about the Brahma Duplo Malte that really came to be the leader of the core plus segment that was a segment that was very underdeveloped in Brazil and has a big potential. So we have been growing new brands consistently [Inaudible] year to date, our high end is growing 20%. Consumers are more and more electing one of our brands as the No. 1 brand they love.
So we have 3 million more consumers that we had in 2019's; all this transformation, technology, the reach, the convenience that BEES and Ze Delivery are bringing for consumers and customers. So really, about -- the performance is really about our plan. 100% of the volumes expanded in the industry came from our brands. And on top of that, we are seeing competitors really moving in some direction that it's hard to really figure out exactly what's going on.
So when we look at production numbers of [Inaudible] of the industry and of competitors, in the end, competitors, they are producing less than 2019 levels, so this is something that we are much ahead of that. And I'm not sure if that's really -- a decision is really something that we are selling, and we are getting it right. We are getting the consumers. And it looks like somehow consumers are more -- and customers more toward our brand.
So we are going to keep looking an eye on competitors. I think, it's a big opportunity for us, anything that happen on the competitive side, but we are really excited about how we are bonding with our consumers, how we are all-time-high relation with our customers in Net Promoter Score and how we have been able really to drive industry expansion.
Robert Ottenstein -- Evercore ISI -- Analyst
Terrific. Thank you very much.
Operator
Our next question comes from Marcella Recchia, Credit Suisse.
Marcella Recchia -- Credit Suisse -- Analyst
Jean, Lucas, congrats on the results, and thank you for taking the questions. I have two questions on Brazil Beer. First is about loading. I would like to understand better if, after announcing the second price increase in mid-September, you saw any signs of mismatch between sell-in and sell-out late in the quarter that could have given an extra boost to the 3Q volume performance.
That would be my first question. And secondly, it's about packaging supply. We have seen constraints for both glass bottles and aluminum cans globally. And ahead of the fourth quarter, which is a seasonal peaking period for the industry, yes, I would like to see if you are seeing already any signs of constraints at the packaging industry in Brazil or even if it could become a risk going forward.
Thank you very much.
Jean Jereissati -- Chief Executive Officer
Thank you for the question, Marcella. So we brought that graphic that were -- of the rolling 12-month performance of our volumes in Brazil and Ambev because I think that graphic is really -- on a yearly rolling 12-month basis, it really mitigates any type of inventory change in levels, so I think that it was a good graphic for us to talk about. I am very excited about the Q3 volumes because they happened amid a sequential improvement on our net revenue per hectoliter. So when we compare net revenue per hectoliter of Q3 compared with Q2: There were a lot of efforts in the Q3 to really keep that up with an inflationary scenario that we are living in Brazil that picked very fast, faster than we expected.
And then, we -- it was announced, the price increase, in October. I really don't -- I really feel that, the sell-in and sell-out, they are pretty much in-line in the inventories in the market. They are really -- we didn't see any movement on that. We have been controlling that in a very sharp way because we know that summer is coming.
And heading to your second question, what we are seeing in the supply chain is that supply chain have been under pressure since the pandemic. We were able to keep it up with gains in resolving the availability of canes -- of cans, where we see a more normalized supply chain. When we come to glass, industry is more pressured. We expected to see some normalization more in 2022 on the glass side, but somehow this type of disruptions are in a much lesser extent that we had in 2020.
Lucas Lira -- Chief Financial Officer and Investor Relations
And then just to add there, Jean. This is Lucas, Marcella. I think, when it comes to glass bottles, one thing to keep in mind is that we have vertical, right, bottle production capacity in countries like Brazil. So that also gives us, right, a very reliable source and -- of supply for bottles and more flexibility to adapt to pressure in the supply chain overall, in addition to our long-term relationships with suppliers.
Jean Jereissati -- Chief Executive Officer
And we are leveraging our global footprint, too, on that.
Marcella Recchia -- Credit Suisse -- Analyst
That's very clear. Thank you very much.
Operator
Our next question comes from Ricardo Alves, Morgan Stanley.
Ricardo Alves -- Morgan Stanley -- Analyst
Good afternoon. Thanks for the call, Jean. Thanks, Lucas. Impressive numbers indeed.
I had a couple of questions, one follow-up on the competition side. You alluded to this, Jean, but on the main competitor. I think that the first question was one of the main competitor, but when you look at your numbers and we look at the industry numbers that we can track, I mean, your performance is significantly above even -- you're significantly outperforming other smaller players as well. Could you just shed a light on how you're performing relative to them? Are there any perhaps specific categories where you're outperforming or specific regions where you think you're performing better than your smaller competitors? We've seen from the Coke system, for example, different regions performing very differently, so I don't know if that could be part of the story.
That's my first question.
Jean Jereissati -- Chief Executive Officer
OK. So let me try to elaborate more on that. So if you put our numbers together, you're going to see that we are gaining a lot of market share. It's not just a little.
It's a lot of market share, and this is based on our plan. I think, the core plus segment, it was a bet that we did two years ago that is really paying off. The innovation -- there is a lot of innovation there. Brahma Duplo Malte has come -- Spaten has come in very well, too.
So we had this strategy of helping the on trade to transform itself during the pandemic; and have takeaway initiatives with the small format, very affordable, of 300 ml bottles. This is performing very well, too. These brought to us -- from pre-pandemic levels, we had 750,000 customers. Now we are reaching 1 billion -- 1 million customers in Q4.
So our plan is really structural. I think, it's really working. And when we look at competitors, both of them, the two, producing less than they have produced already below 2019 levels, it doesn't seem to me that it's a supply restriction. It really is not because you have a plant that you can sell.
So consumers has to buy. The customers should be in your hands. So I really feel that our commercial strategy is really acquiring more customers and like seducing more consumers. We have 3 million more consumers, so I feel that our strategy is going -- is doing OK.
So we did the right investments on capacity in the last two years to be prepared for this type of volumes. And I just feel that, competitors, they have not been able to really get the transaction right and really to sell. And even this announcement that we are -- listen all the time about competitors increasing capacity, I question myself if it's -- if this is more of an upgrade on capabilities that's really a potential to put more volume in the market. So I think, this is a big question for us.
So having said that: We are selling very well on North, Northeast, Middle East, Middle West. Most of the areas are doing very well. It's amazing how we have been growing all the segments. So we are growing core that -- it was a handicap that we had in the past.
The core was really going down. We are seeing our three brands Brahma, Skol and Antarctica growing. We kind of created the core plus segment where we are really having Bohemia, Brahma Duplo Malte, now Spaten. And our high-end portfolio is really year to date, growing on the 20s, so I'm seeing a very balanced growth when -- in segments.
I'm seeing a very balanced growth in regions that shows that looks like our commercial strategy is really paying off. Besides the challenge that we have on the macro side; besides the competitor, the competitive landscape, I really -- I'm really happy with our commercial strategy.
Ricardo Alves -- Morgan Stanley -- Analyst
Super helpful, Jean, thanks for that. One final question, a very quick one on the revenue per hectoliter, also in Brazil Beer: When you're thinking about the fourth quarter, just wondering what your latest thoughts are because of the price increase. I don't know if there are any major mix of category or mix of channels that we should have in mind when we're thinking about the unit revenue. But even more interested on the price increases, how they've been accepted, so far, so if you're able to share any color on how October is performing on that front, that would be helpful.
Thanks again.
Jean Jereissati -- Chief Executive Officer
OK. So in the end, we don't disclosure that much and do forecasts on the peak. It was public that we did it in the beginning of October. So what we are seeing is that -- so it's in the market.
So the numbers are in the market, and it's pretty much around the same shape that we have been doing for a while. What I can tell you that is really -- is exciting me, it is that the on-premise recovery has been stronger than we anticipated. We are seeing -- because, at some point in time, we help the bars to transform. And then they became platforms to takeaway and deliveries.
Ze Delivery helped them a lot, but now we are seeing the social out-of-home occasion getting traction again. So there is pretty much when you get with your friends and go to the bars and really drink in the bar. So we are seeing this occasion really picking up faster than we expected. And looks like this will help us on this occasion.
This is occasion that is very profitable for us, that we have been always designed for it. And it's really coming back strongly. And we foresee it. For example, the RGB bottles and the RGB mix, really they are growing sequentially more than we expect.
And we foresee in 2022 they're above 2019 levels.
Ricardo Alves -- Morgan Stanley -- Analyst
Thanks, Jean.
Operator
Our next question comes from Thiago Duarte, BTG Pactual.
Thiago Duarte -- BTG Pactual -- Analyst
Thank you. Good afternoon, everybody. I have two questions. I will stick with the Brazil Beer discussion here.
The first one is a question on how should we think of Ambev's brands' fair market share in Brazil Beer right now, particularly in terms of the price point relative to the actual market share that you have achieved. It looks like you're capturing a lot of market share, as Jean said just now. Pricing is evolving, but it continues to lag the overall beer inflation and despite the premiumization of the mix and margins and not even relative to basis points. But even in unitary terms, margins are not much higher in nominal terms than they were several years ago.
So Jean, you mentioned in the opening remarks the -- a healthier portfolio, better service level. You mentioned you're reaching 3 million more people, consumers, relative to 2019, so I wonder what -- how that should translate into your -- into the discussion between your actual market share, your fair market share and the price point that you see for your most relevant brands today. I mean, if we look historically, this is a point in time where you guys would probably be capturing a lot more pricing power than we have seen, so far. So that's the broad discussion I was looking to have.
And the second question is on the industry. I mean, even putting the market share discussion aside, I think, ABI, in their conference call they mentioned being gaining share of throat in many markets, including Brazil, but it still for us is striking to see the -- how the aggregate beer industry volumes are growing and in spite of the very tough comps from last year. So if you could comment on how the category growth is sustainable, in your view, relative to other alcoholic beverages. And of course, in terms of per capita consumption relative to where we were before and into the future would be nice to hear as well.
Thank you so much.
Jean Jereissati -- Chief Executive Officer
OK, let me see if I can get this right, Duarte. So yes -- so Duarte, it's true. We are with a market share gaining -- when we put all the numbers together, better than we expected, better than we anticipated. So this Q3, when we compare with what competitors are doing, there is a lot of market share gains over there based on our strategy.
We have been building the high end in the core plus segment. If you remember, at the beginning of the year, we gave a guidance of our VIC in Beer Brazil growing in the low 20s. So we knew that this was coming. It -- so a big part of it, it was because that -- our hedging policies and the impact of the currencies that we had in the hedges this year.
And we are -- really put in our pricing strategy based on the consumer side what consumers can really pay and, yes, to -- maintained our volumes health; and then based on that, on top of that, really work on the mix of innovation, the mix on channels, and overdelivered based on that mix. I think, we have been able to -- we kept our guidance in our VIC numbers. So we are really working on that even though lots of things happening on the commodity side, but this year, we are really maintaining our guidance. And then we have the consumer ability to pay that -- what happened in Brazil with -- was that the inflation picked up very fast.
And that is the reference to -- on our pricing decisions, to really guarantee that the beer in the basket is competitive for us to continue to develop share of throat and continue to develop per capita. And with that type of volumes that we are having and with the inflation picking up, this equation, we are going to follow to really guarantee that our revenue per hectoliter is above and -- what we need. And we believe that, next year, this equation will be more on our side, OK? So somehow, we follow the inflation with rates. On top of that, we have the innovation and premiumization strategy.
On top of that, we have the revenue management. And we believe that we are really getting these muscles right and pricing will get better, yes. One thing that I would like to mention on the transformation side is that we are learning a lot on the revenue management side with our fintech and with BEES. And we are beginning to pilot the trade-off of discounts and cashbacks.
How our customers and how consumers really react to that is a whole new world of possibilities for us. And this is something that I'm very excited is a project that -- it will help us a lot on this revenue management of the future, OK? So having said that, talking about the industry, so yes, we have been very excited about the way we have been developing the industry in Brazil. All the industry expansion is really coming from our initiatives. When we looked Brazil on a granular base, we still have a lot of opportunities from per capita when we compare regions.
Sao Paulo and Middle West, they still have a very different level of per capita consumption. When we looked at frequency, that it was something that peaked during the pandemic, and we looked at U.S. and mature markets, we still have a lot of opportunity, yes, on the consumer side to increase frequency, so we believe that a big part of it will stay. So we are still very excited about the per capita consumption in the -- and the industry expansion moving in the future.
And on top of that, we just put in place, and this is more of a share-of-throat view, our business unit of beyond beer and future beverage that I think is a huge opportunity for us here in Brazil to learn what's going on in Canada. In U.S., we are really working on the Mike's brand. We are bringing RTDs. We are bringing wine in cans.
And I'm really excited about this another avenue of growth that we really -- that is accretive. Its net revenue per hectoliter is higher. And there is a lot of opportunity on share of throat to continue to grow on that side.
Thiago Duarte -- BTG Pactual -- Analyst
That's helpful. Thank you, Jean.
Operator
Our next question comes from Isabella Simonato, Bank of America.
Isabella Simonato -- Bank of America Merrill Lynch -- Analyst
Thank you. Good afternoon, everyone, Jean, Lucas. I have two questions. First of all, thinking about 2022, right, I understand that you guys will release the guidance on costs in the beginning of the year, but if you could give us a color on where you're seeing cost pressures and especially your FX hedges given the recent depreciation of the BRL, that would be helpful to understand how to think about next year.
And second of all, Lucas, you mentioned in the presentation, right, about protecting liquidity and the balance sheet. And in the same time, we have a potential tax reform in Brazil. How are you guys thinking about returning cash to shareholders, not only in terms of timing but if we could expect an increase in this year versus 2020? Thank you.
Lucas Lira -- Chief Financial Officer and Investor Relations
Isabella, thank you for the question. Starting with 2022 cost outlook, I think the first important message here is that the scenario, right, for input costs remains, all right, fairly volatile, as I'm sure you've all been following, particularly in Brazil and Argentina. And there's still some hedging to do before the end of the year, right? We continue to work under our hedging policy to give us the predictability, right, going forward. And it will give us time to prepare, adapt as need be from time to time, but what we can say at this point is that, although, 2021, the main headwind was FX, followed by commodities, in 2022 what we're seeing as of today is that FX should be less of an issue, OK, because of the hedge and happening kind of on a rolling basis and how the BRL especially kind of evolved throughout the year as hedging was underway.
So we see less pressure, going into 2022, from FX and more pressure coming from commodities. And again as I said, there's still some hedging to be done, OK? And last but not least, one of the things that has helped us in 2021 and we hope that could also play a role favorably going into 2022 is the mix, all right? As I mentioned in my opening remarks, one of the things that has contributed to our better-than-expected performance is the mix starting to work in our favor. And in case of the COGS impact of the mix evolving better than expected, it -- the mix has helped us offset our unhedged commodity exposure. That picked up, right, in Q2; picked up again in Q3, so I think the mix -- to the extent that the team continues to do a good job on the commercial side as the on-premise recovers, as returnable glass bottles, all right, continue to come back in a healthy way, hopefully, mix will also once again play in our favor.
And then as you said, we hope to be in a position to provide more visibility with respect to what to expect in 2022 at the end of February when we announce the full year results. As for the second question, in terms of returning excess cash to shareholders over time. This is a year-end decision. So we continue to work, as I mentioned in my remarks, under the same paradigm in terms of how we think about capital allocation in the company.
So priority No. 1, all right, remains to reinvest in growth, be it organically, be it nonorganically. So that hasn't changed. And then in addition, we will continue to return excess cash to shareholders over time, but that's a -- that's more of a year-end conversation that we will have with the Ambev Board.
Isabella Simonato -- Bank of America Merrill Lynch -- Analyst
That's clear. Thank you.
Operator
Our next question comes from Thiago Bortoluci, Goldman Sachs.
Thiago Bortoluci -- Goldman Sachs -- Analyst
Good afternoon, everyone, and congrats for the results. Just trying to add up your revenue per hectoliter growth in Brazil in a bit more details. You guys mentioned earlier in the call the positive impacts of the on-trade mix into your average prices, right. However, when I see net revenue per hectoliter in Brazil Beer, it is still up but sequentially decelerating.
Can you please break up in more details what were the drivers for the sequential deceleration there? And in terms of overall trends, I know we don't have a guidance for the quarter, but what should we expect for the fourth quarter, bearing in mind that cash COGS per hectoliter should sequentially accelerate? Thank you very much.
Jean Jereissati -- Chief Executive Officer
Yeah, so in the end -- when we started the year, we have always been mentioning that our revenue management strategy will be very agile, nimble for us really to get the best opportunities in the market, to learn with regions. And we have everything. And to be very honest, this June -- yes. So this decision -- or so the inflation picked up very fast, and we were trying to catch up as we move.
So that was something that -- it was not planned in the beginning of the year. And somehow, we were very happy to -- in this context to see the Q3 net revenue per hectoliter really like peaking. So it was better than Q2. And when we look that -- if it's accelerating or not, you have the last-year basis where we have to compare.
What I can tell you, it is that, this elasticity that we saw in Q3, when we compared with H1 and Q2, of the price moving with this type of volumes, it really surprised us. And this equation was an equation that come above our expectations, which suggests that our brands are stronger. We had more volumes to the net revenue per hectoliter increase, so we are very happy with this type -- or with that algorithm and with that type of equation. So having said that -- so what was really planned in the beginning of the year for us is to do right, to do accordingly.
It was really the October move that we announced. It was public, yes. We made it happen. It's in the market.
And I think, this is -- it's more substantial.
Thiago Bortoluci -- Goldman Sachs -- Analyst
That's clear. If I may, just a follow-up on the delivery. You reported volumes essentially flattish quarter on quarter, right? Any early signs of some change in mix or cannibalization with the reopening thus far?
Jean Jereissati -- Chief Executive Officer
OK. So let me get your question to talk about the technology platforms. I will talk about Zé and then I will jump into BEES and Donus. So Ze Delivery is on the right path.
It's really -- yes, we are very excited about it. So we have -- so we stopped a little bit the city expansion for us really to get all the -- all our strategy right. So we spanned less cities than we expected. We did not see that much change on the project, on the plan that we have with Ze Delivery, but Ze Delivery is really thinking more and more to be more omnichannel to really think about not just the convenience piece but all the journey of our consumers.
We are starting back the expansion on the cities. And we are working a lot on the last-mile efficiencies. So these are the three things, major things, that we are doing on Ze Delivery. And Ze Delivery, it will -- it's really a success and it will continue to grow a lot, but we have these three fronts that we are working, omnichannel, expansion city by city and then last-mile efficiency.
That is something that -- to have the business sustainable in the long term. And one information that -- just for you to know: So we were able to get Ze Delivery already that is pretty much focusing, focused on the in-home occasion with the same RGB mix that we have in the average of the company. And that's really something that it happened ahead of time. So 40% of the mix of Ze Delivery is already coming from returnable bottles -- because, the motorbike, it takes the bottles and get it back.
So this machine is really working, so we are really excited about that. So Ze Delivery is in place, will grow. It's really going to the next level in terms of having more occasions; be more omnichannel; restart the expansion; and really get it, with the last-mile efficience, right. So one thing that I would like to mention is that really we talked a lot in many times about BEES.
I mentioned that 85% of our active buyers are already in the platform, that we achieved a 1.1 billion annualized marketplace GMV in Ambev of BEES. So just mentioning the products that are not from Ambev's portfolio. So this is something that is doing very well. And yesterday, we announced the partnership with BRF, and I would just like to mention because this partnership is different from what we are doing.
We have been doing this pretty much the one PL. So we buy. We sell. It goes through our warehouses, but this deal with BRF was the first one that it was really a contract of a Software-as-a-Service, OK? So BEES in the end is really providing a software service to BRF.
And then BRF will have BEES on their sales reps, on their palmtops. And their customers will use the platform of order taking. And BRF has around 250,000 customers that they go direct, and they will have access to a 1 million base of customers and with BEES really providing a Service-as-a-Software, OK? So this is really something that is different from what we are doing. And I'm very excited about it, to have BRF with us.
And the third one is really Donus, the fintech, that is really growing very fast, is -- so we are now with BRL 1 billion of TPV year to date. So just in Q3, we have BRL 650 million in TPV. It's really tripling sequentially. We have 145,000 customers that downloaded the wallets.
And we are really working on the machines, the take rates. We are really doing credits for our customers and really moving into the revenue management and the trade-offs of discounts and cashbacks. So these three initiatives, I'm very excited. They are really getting sizable.
They are really beginning to bring a lot of value for our company.
Thiago Bortoluci -- Goldman Sachs -- Analyst
That's amazing, Jean. Thank you very much.
Operator
This concludes today's Q&A session. I would like to turn the floor over to Mr. Jereissati for his closing remarks.
Jean Jereissati -- Chief Executive Officer
So I would like to thank my team again, once again for this quarter. I would -- also want to thank all the analysts and everyone who joined the call, for time and attention. And to wrap up, in the full year, despite the anticipated tough comps in Q4, we'll continue to work to maintain our commercial momentum, delivering a healthy top-line recovery. Also we will not lose sight of the long term and return on the investments that we are doing now.
And we will continue to invest in our portfolio and the transformation through the tech ventures, which continue to grow and become more sizable. Cash generation remains solid even in a year that we invested on the ventures. We invested on capacity. We invested on tech as part of our transformation journey.
And I'm very excited about the relationship and the bonding that we are having with our consumers. Not just here in Brazil that we talked a lot, but I'm seeing brand equity and I'm seeing consumers really toward our portfolio in all the countries that we operate. So thank you very much. See you next year.
And have a great day.
Operator
[Operator signoff]
Duration: 69 minutes
Call participants:
Jean Jereissati -- Chief Executive Officer
Lucas Lira -- Chief Financial Officer and Investor Relations
Robert Ottenstein -- Evercore ISI -- Analyst
Marcella Recchia -- Credit Suisse -- Analyst
Ricardo Alves -- Morgan Stanley -- Analyst
Thiago Duarte -- BTG Pactual -- Analyst
Isabella Simonato -- Bank of America Merrill Lynch -- Analyst
Thiago Bortoluci -- Goldman Sachs -- Analyst
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Companhia de Bebidas das Americas (NYSE: ABEV) Q3 2021 Earnings Call Oct 28, 2021, 11:30 a.m. Operator [Operator signoff] Duration: 69 minutes Call participants: Jean Jereissati -- Chief Executive Officer Lucas Lira -- Chief Financial Officer and Investor Relations Robert Ottenstein -- Evercore ISI -- Analyst Marcella Recchia -- Credit Suisse -- Analyst Ricardo Alves -- Morgan Stanley -- Analyst Thiago Duarte -- BTG Pactual -- Analyst Isabella Simonato -- Bank of America Merrill Lynch -- Analyst Thiago Bortoluci -- Goldman Sachs -- Analyst More ABEV analysis All earnings call transcripts This article is a transcript of this conference call produced for The Motley Fool. Second, a better service level, reaching 53% Net Promoter Score in the quarter; third, our technology big bets, which have continued to structurally improve how we connect with consumers and solve our customers' pain points. | Operator [Operator signoff] Duration: 69 minutes Call participants: Jean Jereissati -- Chief Executive Officer Lucas Lira -- Chief Financial Officer and Investor Relations Robert Ottenstein -- Evercore ISI -- Analyst Marcella Recchia -- Credit Suisse -- Analyst Ricardo Alves -- Morgan Stanley -- Analyst Thiago Duarte -- BTG Pactual -- Analyst Isabella Simonato -- Bank of America Merrill Lynch -- Analyst Thiago Bortoluci -- Goldman Sachs -- Analyst More ABEV analysis All earnings call transcripts This article is a transcript of this conference call produced for The Motley Fool. Companhia de Bebidas das Americas (NYSE: ABEV) Q3 2021 Earnings Call Oct 28, 2021, 11:30 a.m. Second, a better service level, reaching 53% Net Promoter Score in the quarter; third, our technology big bets, which have continued to structurally improve how we connect with consumers and solve our customers' pain points. | Operator [Operator signoff] Duration: 69 minutes Call participants: Jean Jereissati -- Chief Executive Officer Lucas Lira -- Chief Financial Officer and Investor Relations Robert Ottenstein -- Evercore ISI -- Analyst Marcella Recchia -- Credit Suisse -- Analyst Ricardo Alves -- Morgan Stanley -- Analyst Thiago Duarte -- BTG Pactual -- Analyst Isabella Simonato -- Bank of America Merrill Lynch -- Analyst Thiago Bortoluci -- Goldman Sachs -- Analyst More ABEV analysis All earnings call transcripts This article is a transcript of this conference call produced for The Motley Fool. Companhia de Bebidas das Americas (NYSE: ABEV) Q3 2021 Earnings Call Oct 28, 2021, 11:30 a.m. Looking ahead, given year-to-date performance and should the recovery continue in the final months of the year, we feel more confident in our ability to deliver on our two main ambitions for 2021 despite a tough comp in Q4: first, a healthy balance between improved volume and improved net revenue per hectoliter growth as part of our top line-led recovery across markets. | Operator [Operator signoff] Duration: 69 minutes Call participants: Jean Jereissati -- Chief Executive Officer Lucas Lira -- Chief Financial Officer and Investor Relations Robert Ottenstein -- Evercore ISI -- Analyst Marcella Recchia -- Credit Suisse -- Analyst Ricardo Alves -- Morgan Stanley -- Analyst Thiago Duarte -- BTG Pactual -- Analyst Isabella Simonato -- Bank of America Merrill Lynch -- Analyst Thiago Bortoluci -- Goldman Sachs -- Analyst More ABEV analysis All earnings call transcripts This article is a transcript of this conference call produced for The Motley Fool. Companhia de Bebidas das Americas (NYSE: ABEV) Q3 2021 Earnings Call Oct 28, 2021, 11:30 a.m. And in Q3, we delivered 20% net revenue growth, with volumes up nearly 8% year over year. |
28225.0 | 2021-10-28 00:00:00 UTC | Why Ambev Stock Popped Today | ABEV | https://www.nasdaq.com/articles/why-ambev-stock-popped-today-2021-10-28 | nan | nan | What happened
Shares of Ambev (NYSE: ABEV) were moving higher today after the Brazilian brewer owned by Anheuser-Busch InBev (NYSE: BUD) posted strong results in its third-quarter earnings report.
As of 3:09 p.m EDT, the stock was trading up 8.8%.
Image source: AB InBev.
So what
The company reported strong growth overall as it rebounded from the pandemic and as bars and restaurants reopened, leading to a sales bump. Organic volume, which excludes the impact of acquisitions and divestitures, was up 7.7%, and organic revenue increased 20.8% to $660.9 million. In dollars, revenue jumped 57% due to currency fluctuations.
Ambev experienced broad-based growth with key markets like Brazil, Central America, and Latin America South all growing volume by 8% or more, though Canadian sales declined. The company has also sold more than 180 million hectoliters of beer in the last four quarters, by far its highest mark over the last decade, showing the business executing at a high level.
Profits increased as well, with adjusted EBITDA up 9.4% to $970 million and earnings per share up 49% to $0.04.
CEO Jean Jereissati said, "After achieving all-time high rolling 12 months consolidated volumes in 2Q21, and lapping over a great 3Q20, in 3Q21 we saw continued commercial momentum drive our 7.7% top-line growth."
Now what
Ambev didn't offer guidance for the fourth quarter, but the ongoing reopening looks promising for the company as does the momentum in most of its markets.
The beer stock has slumped in recent years and is still trading below pre-pandemic levels, but if management can continue to deliver volume sales growth from already record levels, the stock should continue to rebound.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | What happened Shares of Ambev (NYSE: ABEV) were moving higher today after the Brazilian brewer owned by Anheuser-Busch InBev (NYSE: BUD) posted strong results in its third-quarter earnings report. So what The company reported strong growth overall as it rebounded from the pandemic and as bars and restaurants reopened, leading to a sales bump. The company has also sold more than 180 million hectoliters of beer in the last four quarters, by far its highest mark over the last decade, showing the business executing at a high level. | What happened Shares of Ambev (NYSE: ABEV) were moving higher today after the Brazilian brewer owned by Anheuser-Busch InBev (NYSE: BUD) posted strong results in its third-quarter earnings report. The beer stock has slumped in recent years and is still trading below pre-pandemic levels, but if management can continue to deliver volume sales growth from already record levels, the stock should continue to rebound. 10 stocks we like better than Companhia de Bebidas das Americas When our award-winning analyst team has a stock tip, it can pay to listen. | What happened Shares of Ambev (NYSE: ABEV) were moving higher today after the Brazilian brewer owned by Anheuser-Busch InBev (NYSE: BUD) posted strong results in its third-quarter earnings report. The beer stock has slumped in recent years and is still trading below pre-pandemic levels, but if management can continue to deliver volume sales growth from already record levels, the stock should continue to rebound. 10 stocks we like better than Companhia de Bebidas das Americas When our award-winning analyst team has a stock tip, it can pay to listen. | What happened Shares of Ambev (NYSE: ABEV) were moving higher today after the Brazilian brewer owned by Anheuser-Busch InBev (NYSE: BUD) posted strong results in its third-quarter earnings report. The beer stock has slumped in recent years and is still trading below pre-pandemic levels, but if management can continue to deliver volume sales growth from already record levels, the stock should continue to rebound. That's right -- they think these 10 stocks are even better buys. |
28226.0 | 2021-10-26 00:00:00 UTC | After Hours Most Active for Oct 26, 2021 : INTC, GM, AAPL, ABEV, WTRH, PTEN, HOOD, TWTR, MSFT, KMI, PCG, CHWY | ABEV | https://www.nasdaq.com/articles/after-hours-most-active-for-oct-26-2021-%3A-intc-gm-aapl-abev-wtrh-pten-hood-twtr-msft-kmi | nan | nan | The NASDAQ 100 After Hours Indicator is down -20.09 to 15,539.4. The total After hours volume is currently 86,511,709 shares traded.
The following are the most active stocks for the after hours session:
Intel Corporation (INTC) is +0.14 at $48.42, with 6,348,479 shares traded. INTC's current last sale is 88.04% of the target price of $55.
General Motors Company (GM) is +0.07 at $57.44, with 4,599,146 shares traded.GM is scheduled to provide an earnings report on 10/27/2021, for the fiscal quarter ending Sep2021. The consensus earnings per share forecast is 0.89 per share, which represents a 283 percent increase over the EPS one Year Ago
Apple Inc. (AAPL) is +0.18 at $149.50, with 4,261,938 shares traded.AAPL is scheduled to provide an earnings report on 10/28/2021, for the fiscal quarter ending Sep2021. The consensus earnings per share forecast is 1.24 per share, which represents a 73 percent increase over the EPS one Year Ago
Ambev S.A. (ABEV) is -0.0298 at $2.67, with 3,592,813 shares traded. ABEV's current last sale is 82.16% of the target price of $3.25.
Waitr Holdings Inc. (WTRH) is +0.07 at $2.12, with 3,451,226 shares traded. As reported by Zacks, the current mean recommendation for WTRH is in the "strong buy range".
Patterson-UTI Energy, Inc. (PTEN) is unchanged at $9.84, with 3,245,527 shares traded.PTEN is scheduled to provide an earnings report on 10/28/2021, for the fiscal quarter ending Sep2021. The consensus earnings per share forecast is -0.44 per share, which represents a -60 percent increase over the EPS one Year Ago
Robinhood Markets, Inc. (HOOD) is -3.87 at $35.70, with 2,961,437 shares traded. HOOD's current last sale is 64.91% of the target price of $55.
Twitter, Inc. (TWTR) is +1.64 at $63.07, with 2,786,179 shares traded. TWTR's current last sale is 80.86% of the target price of $78.
Microsoft Corporation (MSFT) is +5.78 at $315.89, with 2,594,023 shares traded. As reported by Zacks, the current mean recommendation for MSFT is in the "strong buy range".
Kinder Morgan, Inc. (KMI) is +0.04 at $17.66, with 2,282,979 shares traded. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Mar 2022. The consensus EPS forecast is $0.26. KMI's current last sale is 95.46% of the target price of $18.5.
Pacific Gas & Electric Co. (PCG) is +0.03 at $11.60, with 2,214,064 shares traded.PCG is scheduled to provide an earnings report on 11/1/2021, for the fiscal quarter ending Sep2021. The consensus earnings per share forecast is 0.27 per share, which represents a 22 percent increase over the EPS one Year Ago
Chewy, Inc. (CHWY) is unchanged at $67.99, with 2,096,617 shares traded. As reported by Zacks, the current mean recommendation for CHWY is in the "buy range".
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Ambev S.A. (ABEV) is -0.0298 at $2.67, with 3,592,813 shares traded. ABEV's current last sale is 82.16% of the target price of $3.25. General Motors Company (GM) is +0.07 at $57.44, with 4,599,146 shares traded.GM is scheduled to provide an earnings report on 10/27/2021, for the fiscal quarter ending Sep2021. | Ambev S.A. (ABEV) is -0.0298 at $2.67, with 3,592,813 shares traded. ABEV's current last sale is 82.16% of the target price of $3.25. The consensus earnings per share forecast is 0.89 per share, which represents a 283 percent increase over the EPS one Year Ago | Ambev S.A. (ABEV) is -0.0298 at $2.67, with 3,592,813 shares traded. ABEV's current last sale is 82.16% of the target price of $3.25. The consensus earnings per share forecast is 0.89 per share, which represents a 283 percent increase over the EPS one Year Ago | Ambev S.A. (ABEV) is -0.0298 at $2.67, with 3,592,813 shares traded. ABEV's current last sale is 82.16% of the target price of $3.25. The NASDAQ 100 After Hours Indicator is down -20.09 to 15,539.4. |
28227.0 | 2021-09-29 00:00:00 UTC | After Hours Most Active for Sep 29, 2021 : COG, BAC, TLT, ABEV, IBN, UNM, KR, MSFT, AAPL, GILD, USIG, TRIP | ABEV | https://www.nasdaq.com/articles/after-hours-most-active-for-sep-29-2021-%3A-cog-bac-tlt-abev-ibn-unm-kr-msft-aapl-gild-usig | nan | nan | The NASDAQ 100 After Hours Indicator is up 16.44 to 14,769.33. The total After hours volume is currently 43,120,236 shares traded.
The following are the most active stocks for the after hours session:
Cabot Oil & Gas Corporation (COG) is -0.16 at $22.39, with 12,806,691 shares traded. COG's current last sale is 106.62% of the target price of $21.
Bank of America Corporation (BAC) is +0.03 at $43.10, with 3,358,923 shares traded. As reported by Zacks, the current mean recommendation for BAC is in the "buy range".
iShares 20+ Year Treasury Bond ETF (TLT) is +0.02 at $144.36, with 2,559,029 shares traded. This represents a 8.39% increase from its 52 Week Low.
Ambev S.A. (ABEV) is unchanged at $2.80, with 2,081,431 shares traded. ABEV's current last sale is 93.33% of the target price of $3.
ICICI Bank Limited (IBN) is unchanged at $19.21, with 2,021,009 shares traded. As reported by Zacks, the current mean recommendation for IBN is in the "strong buy range".
Unum Group (UNM) is unchanged at $25.05, with 1,294,996 shares traded. UNM's current last sale is 83.5% of the target price of $30.
Kroger Company (The) (KR) is -0.01 at $41.33, with 1,276,681 shares traded. Over the last four weeks they have had 6 up revisions for the earnings forecast, for the fiscal quarter ending Oct 2021. The consensus EPS forecast is $0.64. KR's current last sale is 103.33% of the target price of $40.
Microsoft Corporation (MSFT) is +0.3 at $284.30, with 1,153,441 shares traded. MSFT's current last sale is 85.89% of the target price of $331.
Apple Inc. (AAPL) is +0.13 at $142.96, with 1,095,541 shares traded. As reported by Zacks, the current mean recommendation for AAPL is in the "buy range".
Gilead Sciences, Inc. (GILD) is unchanged at $70.94, with 1,001,741 shares traded. As reported by Zacks, the current mean recommendation for GILD is in the "buy range".
iShares Broad USD Investment Grade Corporate Bond ETF (USIG) is -0.0055 at $60.19, with 968,326 shares traded. This represents a 3.2% increase from its 52 Week Low.
TripAdvisor, Inc. (TRIP) is unchanged at $34.06, with 855,576 shares traded. As reported in the last short interest update the days to cover for TRIP is 7.025502; this calculation is based on the average trading volume of the stock.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Ambev S.A. (ABEV) is unchanged at $2.80, with 2,081,431 shares traded. ABEV's current last sale is 93.33% of the target price of $3. As reported by Zacks, the current mean recommendation for IBN is in the "strong buy range". | Ambev S.A. (ABEV) is unchanged at $2.80, with 2,081,431 shares traded. ABEV's current last sale is 93.33% of the target price of $3. The total After hours volume is currently 43,120,236 shares traded. | Ambev S.A. (ABEV) is unchanged at $2.80, with 2,081,431 shares traded. ABEV's current last sale is 93.33% of the target price of $3. The total After hours volume is currently 43,120,236 shares traded. | Ambev S.A. (ABEV) is unchanged at $2.80, with 2,081,431 shares traded. ABEV's current last sale is 93.33% of the target price of $3. Over the last four weeks they have had 6 up revisions for the earnings forecast, for the fiscal quarter ending Oct 2021. |
28228.0 | 2021-09-13 00:00:00 UTC | January 2024 Options Now Available For Ambev (ABEV) | ABEV | https://www.nasdaq.com/articles/january-2024-options-now-available-for-ambev-abev-2021-09-13 | nan | nan | Investors in Ambev SA (Symbol: ABEV) saw new options become available today, for the January 2024 expiration. One of the key data points that goes into the price an option buyer is willing to pay, is the time value, so with 858 days until expiration the newly available contracts represent a possible opportunity for sellers of puts or calls to achieve a higher premium than would be available for the contracts with a closer expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the ABEV options chain for the new January 2024 contracts and identified the following call contract of particular interest.
The call contract at the $5.00 strike price has a current bid of 35 cents. If an investor was to purchase shares of ABEV stock at the current price level of $3.11/share, and then sell-to-open that call contract as a "covered call," they are committing to sell the stock at $5.00. Considering the call seller will also collect the premium, that would drive a total return (excluding dividends, if any) of 72.03% if the stock gets called away at the January 2024 expiration (before broker commissions). Of course, a lot of upside could potentially be left on the table if ABEV shares really soar, which is why looking at the trailing twelve month trading history for Ambev SA, as well as studying the business fundamentals becomes important. Below is a chart showing ABEV's trailing twelve month trading history, with the $5.00 strike highlighted in red:
Considering the fact that the $5.00 strike represents an approximate 61% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 67%. On our website under the contract detail page for this contract, Stock Options Channel will track those odds over time to see how they change and publish a chart of those numbers (the trading history of the option contract will also be charted). Should the covered call contract expire worthless, the premium would represent a 11.25% boost of extra return to the investor, or 4.79% annualized, which we refer to as the YieldBoost.
The implied volatility in the call contract example above is 155%.
Meanwhile, we calculate the actual trailing twelve month volatility (considering the last 251 trading day closing values as well as today's price of $3.11) to be 42%. For more put and call options contract ideas worth looking at, visit StockOptionsChannel.com.
Top YieldBoost Calls of the S&P 500 »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Of course, a lot of upside could potentially be left on the table if ABEV shares really soar, which is why looking at the trailing twelve month trading history for Ambev SA, as well as studying the business fundamentals becomes important. Below is a chart showing ABEV's trailing twelve month trading history, with the $5.00 strike highlighted in red: Considering the fact that the $5.00 strike represents an approximate 61% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in Ambev SA (Symbol: ABEV) saw new options become available today, for the January 2024 expiration. | Of course, a lot of upside could potentially be left on the table if ABEV shares really soar, which is why looking at the trailing twelve month trading history for Ambev SA, as well as studying the business fundamentals becomes important. Below is a chart showing ABEV's trailing twelve month trading history, with the $5.00 strike highlighted in red: Considering the fact that the $5.00 strike represents an approximate 61% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in Ambev SA (Symbol: ABEV) saw new options become available today, for the January 2024 expiration. | If an investor was to purchase shares of ABEV stock at the current price level of $3.11/share, and then sell-to-open that call contract as a "covered call," they are committing to sell the stock at $5.00. Below is a chart showing ABEV's trailing twelve month trading history, with the $5.00 strike highlighted in red: Considering the fact that the $5.00 strike represents an approximate 61% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in Ambev SA (Symbol: ABEV) saw new options become available today, for the January 2024 expiration. | Investors in Ambev SA (Symbol: ABEV) saw new options become available today, for the January 2024 expiration. Below is a chart showing ABEV's trailing twelve month trading history, with the $5.00 strike highlighted in red: Considering the fact that the $5.00 strike represents an approximate 61% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. At Stock Options Channel, our YieldBoost formula has looked up and down the ABEV options chain for the new January 2024 contracts and identified the following call contract of particular interest. |
28229.0 | 2021-09-02 00:00:00 UTC | Interesting ABEV Put And Call Options For April 2022 | ABEV | https://www.nasdaq.com/articles/interesting-abev-put-and-call-options-for-april-2022-2021-09-02 | nan | nan | Investors in Ambev SA (Symbol: ABEV) saw new options begin trading this week, for the April 2022 expiration. One of the key data points that goes into the price an option buyer is willing to pay, is the time value, so with 224 days until expiration the newly trading contracts represent a potential opportunity for sellers of puts or calls to achieve a higher premium than would be available for the contracts with a closer expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the ABEV options chain for the new April 2022 contracts and identified one put and one call contract of particular interest.
The put contract at the $3.00 strike price has a current bid of 30 cents. If an investor was to sell-to-open that put contract, they are committing to purchase the stock at $3.00, but will also collect the premium, putting the cost basis of the shares at $2.70 (before broker commissions). To an investor already interested in purchasing shares of ABEV, that could represent an attractive alternative to paying $3.18/share today.
Because the $3.00 strike represents an approximate 6% discount to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the put contract would expire worthless. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 64%. Stock Options Channel will track those odds over time to see how they change, publishing a chart of those numbers on our website under the contract detail page for this contract. Should the contract expire worthless, the premium would represent a 10.00% return on the cash commitment, or 16.29% annualized — at Stock Options Channel we call this the YieldBoost.
Below is a chart showing the trailing twelve month trading history for Ambev SA, and highlighting in green where the $3.00 strike is located relative to that history:
Turning to the calls side of the option chain, the call contract at the $3.50 strike price has a current bid of 15 cents. If an investor was to purchase shares of ABEV stock at the current price level of $3.18/share, and then sell-to-open that call contract as a "covered call," they are committing to sell the stock at $3.50. Considering the call seller will also collect the premium, that would drive a total return (excluding dividends, if any) of 14.78% if the stock gets called away at the April 2022 expiration (before broker commissions). Of course, a lot of upside could potentially be left on the table if ABEV shares really soar, which is why looking at the trailing twelve month trading history for Ambev SA, as well as studying the business fundamentals becomes important. Below is a chart showing ABEV's trailing twelve month trading history, with the $3.50 strike highlighted in red:
Considering the fact that the $3.50 strike represents an approximate 10% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 55%. On our website under the contract detail page for this contract, Stock Options Channel will track those odds over time to see how they change and publish a chart of those numbers (the trading history of the option contract will also be charted). Should the covered call contract expire worthless, the premium would represent a 4.72% boost of extra return to the investor, or 7.69% annualized, which we refer to as the YieldBoost.
The implied volatility in the put contract example is 46%, while the implied volatility in the call contract example is 42%.
Meanwhile, we calculate the actual trailing twelve month volatility (considering the last 252 trading day closing values as well as today's price of $3.18) to be 41%. For more put and call options contract ideas worth looking at, visit StockOptionsChannel.com.
Top YieldBoost Calls of the S&P 500 »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Of course, a lot of upside could potentially be left on the table if ABEV shares really soar, which is why looking at the trailing twelve month trading history for Ambev SA, as well as studying the business fundamentals becomes important. Below is a chart showing ABEV's trailing twelve month trading history, with the $3.50 strike highlighted in red: Considering the fact that the $3.50 strike represents an approximate 10% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in Ambev SA (Symbol: ABEV) saw new options begin trading this week, for the April 2022 expiration. | Below is a chart showing ABEV's trailing twelve month trading history, with the $3.50 strike highlighted in red: Considering the fact that the $3.50 strike represents an approximate 10% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in Ambev SA (Symbol: ABEV) saw new options begin trading this week, for the April 2022 expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the ABEV options chain for the new April 2022 contracts and identified one put and one call contract of particular interest. | Below is a chart showing ABEV's trailing twelve month trading history, with the $3.50 strike highlighted in red: Considering the fact that the $3.50 strike represents an approximate 10% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in Ambev SA (Symbol: ABEV) saw new options begin trading this week, for the April 2022 expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the ABEV options chain for the new April 2022 contracts and identified one put and one call contract of particular interest. | At Stock Options Channel, our YieldBoost formula has looked up and down the ABEV options chain for the new April 2022 contracts and identified one put and one call contract of particular interest. Below is a chart showing ABEV's trailing twelve month trading history, with the $3.50 strike highlighted in red: Considering the fact that the $3.50 strike represents an approximate 10% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in Ambev SA (Symbol: ABEV) saw new options begin trading this week, for the April 2022 expiration. |
28230.0 | 2021-08-26 00:00:00 UTC | After Hours Most Active for Aug 26, 2021 : ABEV, WBT, NNA, F, ORCL, NLSN | ABEV | https://www.nasdaq.com/articles/after-hours-most-active-for-aug-26-2021-%3A-abev-wbt-nna-f-orcl-nlsn-2021-08-26 | nan | nan | The NASDAQ 100 After Hours Indicator is down -2.52 to 15,276. The total After hours volume is currently 45,445,411 shares traded.
The following are the most active stocks for the after hours session:
Ambev S.A. (ABEV) is unchanged at $3.21, with 3,230,076 shares traded. ABEV's current last sale is 107% of the target price of $3.
Welbilt, Inc. (WBT) is unchanged at $23.40, with 2,318,047 shares traded. WBT's current last sale is 93.6% of the target price of $25.
Navios Maritime Acquisition Corporation (NNA) is +0.87 at $2.97, with 2,247,788 shares traded.
Ford Motor Company (F) is -0.02 at $12.88, with 1,648,485 shares traded. As reported by Zacks, the current mean recommendation for F is in the "buy range".
Oracle Corporation (ORCL) is unchanged at $88.72, with 1,505,384 shares traded. ORCL's current last sale is 110.9% of the target price of $80.
Nielsen N.V. (NLSN) is unchanged at $21.24, with 1,463,206 shares traded. NLSN's current last sale is 73.24% of the target price of $29.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Ambev S.A. (ABEV) is unchanged at $3.21, with 3,230,076 shares traded. ABEV's current last sale is 107% of the target price of $3. The total After hours volume is currently 45,445,411 shares traded. | ABEV's current last sale is 107% of the target price of $3. Ambev S.A. (ABEV) is unchanged at $3.21, with 3,230,076 shares traded. WBT's current last sale is 93.6% of the target price of $25. | Ambev S.A. (ABEV) is unchanged at $3.21, with 3,230,076 shares traded. ABEV's current last sale is 107% of the target price of $3. The total After hours volume is currently 45,445,411 shares traded. | ABEV's current last sale is 107% of the target price of $3. Ambev S.A. (ABEV) is unchanged at $3.21, with 3,230,076 shares traded. The NASDAQ 100 After Hours Indicator is down -2.52 to 15,276. |
28231.0 | 2021-08-09 00:00:00 UTC | After Hours Most Active for Aug 9, 2021 : EDOC, BAC, AAPL, ABEV, AMC, CMCSA, T, APA, MSFT, CLVT, FSR, SDC | ABEV | https://www.nasdaq.com/articles/after-hours-most-active-for-aug-9-2021-%3A-edoc-bac-aapl-abev-amc-cmcsa-t-apa-msft-clvt-fsr | nan | nan | The NASDAQ 100 After Hours Indicator is down -3.68 to 15,129.43. The total After hours volume is currently 74,198,969 shares traded.
The following are the most active stocks for the after hours session:
Global X Telemedicine & Digital Health ETF (EDOC) is -0.066 at $18.46, with 4,726,784 shares traded. This represents a 21.08% increase from its 52 Week Low.
Bank of America Corporation (BAC) is +0.05 at $40.72, with 4,419,513 shares traded. As reported by Zacks, the current mean recommendation for BAC is in the "buy range".
Apple Inc. (AAPL) is -0.08 at $146.01, with 4,226,123 shares traded. Over the last four weeks they have had 7 up revisions for the earnings forecast, for the fiscal quarter ending Sep 2021. The consensus EPS forecast is $1.23. As reported by Zacks, the current mean recommendation for AAPL is in the "buy range".
Ambev S.A. (ABEV) is +0.03 at $3.24, with 3,317,188 shares traded. ABEV's current last sale is 108% of the target price of $3.
AMC Entertainment Holdings, Inc. (AMC) is +1.39 at $35.19, with 3,089,986 shares traded. AMC's current last sale is 469.2% of the target price of $7.5.
Comcast Corporation (CMCSA) is unchanged at $58.28, with 2,787,003 shares traded. As reported by Zacks, the current mean recommendation for CMCSA is in the "buy range".
AT&T Inc. (T) is +0.02 at $27.87, with 2,520,561 shares traded. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Sep 2021. The consensus EPS forecast is $0.78. T's current last sale is 87.09% of the target price of $32.
APA Corporation (APA) is unchanged at $17.91, with 2,103,135 shares traded. Over the last four weeks they have had 6 up revisions for the earnings forecast, for the fiscal quarter ending Sep 2021. The consensus EPS forecast is $0.81. As reported by Zacks, the current mean recommendation for APA is in the "buy range".
Microsoft Corporation (MSFT) is -0.03 at $288.30, with 2,068,796 shares traded. Over the last four weeks they have had 9 up revisions for the earnings forecast, for the fiscal quarter ending Sep 2021. The consensus EPS forecast is $2.06. MSFT's current last sale is 88.71% of the target price of $325.
Clarivate Plc (CLVT) is -0.1 at $23.44, with 2,036,363 shares traded. As reported by Zacks, the current mean recommendation for CLVT is in the "buy range".
Fisker Inc. (FSR) is +1.73 at $16.76, with 1,959,674 shares traded. As reported by Zacks, the current mean recommendation for FSR is in the "buy range".
SmileDirectClub, Inc. (SDC) is -0.97 at $5.73, with 1,718,176 shares traded. SDC's current last sale is 60.32% of the target price of $9.5.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Ambev S.A. (ABEV) is +0.03 at $3.24, with 3,317,188 shares traded. ABEV's current last sale is 108% of the target price of $3. Over the last four weeks they have had 7 up revisions for the earnings forecast, for the fiscal quarter ending Sep 2021. | Ambev S.A. (ABEV) is +0.03 at $3.24, with 3,317,188 shares traded. ABEV's current last sale is 108% of the target price of $3. Over the last four weeks they have had 7 up revisions for the earnings forecast, for the fiscal quarter ending Sep 2021. | Ambev S.A. (ABEV) is +0.03 at $3.24, with 3,317,188 shares traded. ABEV's current last sale is 108% of the target price of $3. Over the last four weeks they have had 7 up revisions for the earnings forecast, for the fiscal quarter ending Sep 2021. | Ambev S.A. (ABEV) is +0.03 at $3.24, with 3,317,188 shares traded. ABEV's current last sale is 108% of the target price of $3. The NASDAQ 100 After Hours Indicator is down -3.68 to 15,129.43. |
28232.0 | 2021-08-02 00:00:00 UTC | After Hours Most Active for Aug 2, 2021 : EDU, ABEV, CD, STRA, UBER, AAPL, ABBV, LUMN, CLF, AZN, LBTYK, XLNX | ABEV | https://www.nasdaq.com/articles/after-hours-most-active-for-aug-2-2021-%3A-edu-abev-cd-stra-uber-aapl-abbv-lumn-clf-azn | nan | nan | The NASDAQ 100 After Hours Indicator is down -4.59 to 14,959.03. The total After hours volume is currently 59,070,607 shares traded.
The following are the most active stocks for the after hours session:
New Oriental Education & Technology Group, Inc. (EDU) is unchanged at $2.17, with 23,194,644 shares traded.EDU is scheduled to provide an earnings report on 8/3/2021, for the fiscal quarter ending May2021.
Ambev S.A. (ABEV) is unchanged at $3.23, with 3,785,922 shares traded. ABEV's current last sale is 111.38% of the target price of $2.9.
Chindata Group Holdings Limited (CD) is unchanged at $12.45, with 3,001,075 shares traded. As reported in the last short interest update the days to cover for CD is 9.544839; this calculation is based on the average trading volume of the stock.
Strategic Education, Inc. (STRA) is unchanged at $78.96, with 2,711,018 shares traded. As reported in the last short interest update the days to cover for STRA is 8.679455; this calculation is based on the average trading volume of the stock.
Uber Technologies, Inc. (UBER) is +0.12 at $43.61, with 2,407,094 shares traded.UBER is scheduled to provide an earnings report on 8/4/2021, for the fiscal quarter ending Jun2021. The consensus earnings per share forecast is -0.54 per share, which represents a -102 percent increase over the EPS one Year Ago
Apple Inc. (AAPL) is -0.11 at $145.41, with 2,294,460 shares traded. Over the last four weeks they have had 7 up revisions for the earnings forecast, for the fiscal quarter ending Sep 2021. The consensus EPS forecast is $1.23. As reported by Zacks, the current mean recommendation for AAPL is in the "buy range".
AbbVie Inc. (ABBV) is unchanged at $115.45, with 1,856,028 shares traded. As reported by Zacks, the current mean recommendation for ABBV is in the "buy range".
Lumen Technologies, Inc. (LUMN) is unchanged at $12.54, with 1,700,110 shares traded.LUMN is scheduled to provide an earnings report on 8/4/2021, for the fiscal quarter ending Jun2021. The consensus earnings per share forecast is 0.43 per share, which represents a 42 percent increase over the EPS one Year Ago
Cleveland-Cliffs Inc. (CLF) is +0.04 at $23.98, with 1,592,076 shares traded. As reported by Zacks, the current mean recommendation for CLF is in the "buy range".
Astrazeneca PLC (AZN) is unchanged at $57.38, with 1,297,418 shares traded. As reported in the last short interest update the days to cover for AZN is 13.569473; this calculation is based on the average trading volume of the stock.
Liberty Global plc (LBTYK) is unchanged at $26.76, with 1,261,814 shares traded.
Xilinx, Inc. (XLNX) is unchanged at $148.98, with 1,171,279 shares traded. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Sep 2021. The consensus EPS forecast is $0.88. XLNX's current last sale is 101.69% of the target price of $146.5.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Ambev S.A. (ABEV) is unchanged at $3.23, with 3,785,922 shares traded. ABEV's current last sale is 111.38% of the target price of $2.9. New Oriental Education & Technology Group, Inc. (EDU) is unchanged at $2.17, with 23,194,644 shares traded.EDU is scheduled to provide an earnings report on 8/3/2021, for the fiscal quarter ending May2021. | Ambev S.A. (ABEV) is unchanged at $3.23, with 3,785,922 shares traded. ABEV's current last sale is 111.38% of the target price of $2.9. New Oriental Education & Technology Group, Inc. (EDU) is unchanged at $2.17, with 23,194,644 shares traded.EDU is scheduled to provide an earnings report on 8/3/2021, for the fiscal quarter ending May2021. | Ambev S.A. (ABEV) is unchanged at $3.23, with 3,785,922 shares traded. ABEV's current last sale is 111.38% of the target price of $2.9. New Oriental Education & Technology Group, Inc. (EDU) is unchanged at $2.17, with 23,194,644 shares traded.EDU is scheduled to provide an earnings report on 8/3/2021, for the fiscal quarter ending May2021. | Ambev S.A. (ABEV) is unchanged at $3.23, with 3,785,922 shares traded. ABEV's current last sale is 111.38% of the target price of $2.9. Over the last four weeks they have had 7 up revisions for the earnings forecast, for the fiscal quarter ending Sep 2021. |
28233.0 | 2021-08-02 00:00:00 UTC | Monday's ETF Movers: ILF, XOP | ABEV | https://www.nasdaq.com/articles/mondays-etf-movers%3A-ilf-xop-2021-08-02 | nan | nan | In trading on Monday, the iShares Latin America 40 ETF is outperforming other ETFs, up about 2.1% on the day. Components of that ETF showing particular strength include shares of Itau Unibanco Banco Holding, up about 3.9% and shares of Ambev, up about 3.5% on the day.
And underperforming other ETFs today is the SPDR— S&P— Oil & Gas Exploration & Production ETF, off about 1.7% in Monday afternoon trading. Among components of that ETF with the weakest showing on Monday were shares of Tellurian, lower by about 5.6%, and shares of Northern Oil and Gas, lower by about 4.9% on the day.
VIDEO: Monday's ETF Movers: ILF, XOP
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Components of that ETF showing particular strength include shares of Itau Unibanco Banco Holding, up about 3.9% and shares of Ambev, up about 3.5% on the day. Among components of that ETF with the weakest showing on Monday were shares of Tellurian, lower by about 5.6%, and shares of Northern Oil and Gas, lower by about 4.9% on the day. VIDEO: Monday's ETF Movers: ILF, XOP The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | And underperforming other ETFs today is the SPDR— S&P— Oil & Gas Exploration & Production ETF, off about 1.7% in Monday afternoon trading. Among components of that ETF with the weakest showing on Monday were shares of Tellurian, lower by about 5.6%, and shares of Northern Oil and Gas, lower by about 4.9% on the day. VIDEO: Monday's ETF Movers: ILF, XOP The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In trading on Monday, the iShares Latin America 40 ETF is outperforming other ETFs, up about 2.1% on the day. And underperforming other ETFs today is the SPDR— S&P— Oil & Gas Exploration & Production ETF, off about 1.7% in Monday afternoon trading. Among components of that ETF with the weakest showing on Monday were shares of Tellurian, lower by about 5.6%, and shares of Northern Oil and Gas, lower by about 4.9% on the day. | In trading on Monday, the iShares Latin America 40 ETF is outperforming other ETFs, up about 2.1% on the day. Components of that ETF showing particular strength include shares of Itau Unibanco Banco Holding, up about 3.9% and shares of Ambev, up about 3.5% on the day. And underperforming other ETFs today is the SPDR— S&P— Oil & Gas Exploration & Production ETF, off about 1.7% in Monday afternoon trading. |
28234.0 | 2021-07-31 00:00:00 UTC | Companhia de Bebidas das Americas (ABEV) Q2 2021 Earnings Call Transcript | ABEV | https://www.nasdaq.com/articles/companhia-de-bebidas-das-americas-abev-q2-2021-earnings-call-transcript-2021-07-31 | nan | nan | Image source: The Motley Fool.
Companhia de Bebidas das Americas (NYSE: ABEV)
Q2 2021 Earnings Call
Jul 29, 2021, 11:30 a.m. ET
Contents:
Prepared Remarks
Questions and Answers
Call Participants
Prepared Remarks:
Operator
Good morning, and thank you for waiting. We would like to welcome everyone to Ambev's second-quarter 2021 results conference call. Today with us, we have Mr. Jean Jereissati, CEO for Ambev; and Mr.
Lucas Lira, CFO and investor relations officer. As a reminder, a slide presentation is available for downloading on our website, ri.ambev.com.br, as well as through the webcast link for this call. We would like to inform you that this event is being recorded. [Operator instructions] Before proceeding, let me mention that forward-looking statements are being made under the safe harbor of the Securities Litigation Reform Act of 1996.
Forward-looking statements are based on the beliefs and assumptions of Ambev's management and on information currently available to the company. They involve risks and uncertainties and assumptions because they relate to future events and therefore, depend on circumstances that may or may not occur in the future. Investors should understand general economic conditions, industry conditions, and other operating factors could also affect the future results of Ambev and could cause results to differ materially from those expressed in such forward-looking statements. I would also like to remind everyone that, as usual, the percentage changes that will be discussed during today's call are both organic and normalized in nature, and unless otherwise stated, percentage changes refer to comparisons with second quarter of 2021 results.
Normalized figures refer to performance measures before exceptional items, which are either income or expenses that do not occur regularly as part of Ambev's normal activities. As normalized figures are non-GAAP measures, the company disclosed the consolidated profit, EPS, EBIT, and EBITDA on a fully reported basis in the earnings release. Now I'll turn the conference over to Jean Jereissati, CEO for Ambev. Mr.
Jereissati, you may begin your conference.
Jean Jereissati -- Chief Executive Officer
Good morning. Good afternoon. Thank you very much for joining our second-quarterearnings call I hope you and your families are well and safe.
This quarter, we completed one year since the negative impact of the first wave of COVID-19 pandemic. And I'm happy to see that the choices we made in the past 12 months continue to deliver results. We achieved the highest consolidated volumes in a second quarter on record, which led to an all-time high rolling 12 months volumes, 5 million hectoliters above the peak back in 2015. We have previously mentioned that we were better prepared to navigate challenges brought by the pandemic.
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But at the same time, we also got ready for the economic reopening as vaccination rates increased. Our commercial strategy, innovations, tech platforms, and operational excellence supported once again our performance as mobility restrictions were partially lifted in many of our markets. Nine of our top 10 markets delivered volume growth versus last year, and seven of them grew volumes ahead of 2019. Net revenue per hectoliter continued with solid growth driven by flexible and agile approach on pricing and premiumization efforts.
Our above-core brands continue to gain relevance within our portfolio. Our international operations continued the recovery path in the quarter, growing top-line ahead of 2019 and helping to offset transactional FX impacts on a consolidated level. In CAC, top-line growth was led by Dominican Republic, followed closely by Guatemala, which continues to show good momentum. Panama is bouncing back from tighter restrictions.
In LAS, we grew volume ahead of 2019 levels. In Argentina and Chile, our global brands showed again a great volume performance, driving premium mix, which supported margin recovery versus last year in both countries. Bolivia, on the other hand, remains impacted by the pandemic, where we continue focusing on preparing the company for the recovery. Canada still suffered from mobility restrictions.
However, delivering growth in top line and EBITDA. In July, we saw restrictions being partially lifted as vaccination rate reached more than 50% of the population. Brazil beer continued to show great commercial momentum with double-digit volume growth versus 2019. This was also the fourth quarter in a row that we gained market share according to our estimates and that innovation continued to represent more than 20% of our revenues.
We grew volume in all segments with highlights to our premium portfolio that grew volumes by approximately 35%. BEES comes with more than 70% of our active customer base, helping Ambev to reach all-time high customers for both beer and NAB as well as all-time high customer satisfaction measured by NPS rating in June, while reaching BRL 9 billion of GMV this quarter. Ze Delivery fulfilled more than 15 million orders, continuing to grow significantly versus last year. Talking about brands.
We continued to invest in our portfolio, and I'm glad to see the growth of our brand power metrics. In the recognition of our marketing team at Cannes Lion Awards in France, Ambev received seven prizes: two gold, three silver, and two bronzes from campaigns in Brazil and Argentina. In the first half of the year, on a consolidated basis, EBITDA grew 25% versus 2020 but was still 7% behind 2019, impacted by FX, commodities headwinds, and SG&A expenses. For the second half, our outlook remains unchanged.
We are on track with our V-shaped top-line recovery despite all challenges. We will continue to pursue volume performance at this new rolling 12-month levels reached in last quarters. Cost pressures will continue, especially in Brazil. And as for bottom line, normalized consolidated EBITDA performance for the full year should improve as we work to get back to 2019 levels.
On a longer-term perspective, we are building an ambidextrous organization focusing on delivering the short term, while at the same time, transforming our business for the future. As we continue this journey, our business vision is to transform Ambev into a platform with inspiring brands that connect people in the ecosystem, creating shared value. As part of our transformation, today, I would like to talk about our fintech, Donus. We believe that our customers can increase their chances of success if they become more digitalized and have access to more insights, to more adequate financial resources, lower bank and financial transaction fees and even more convenience.
Today, more than 80,000 customers registered on Donus can enjoy solutions such as POS terminals, digital wallet, and credit lines. On the credit lines, we believe our long history with customers makes our credit scoring assessment very reliable. So far, default rates are within expectations, and we are now fundraising to expand this operation. In 2021, our focus is to roll out Donus in all distribution centers in Brazil as we did for BEES starting last year.
To close, our top-line momentum is real and will be put to test in H2 given the excellent results we had last year. And I'm confident in our ability to keep taking our business to new levels. And I would like once again to thank the Ambev team for their dedication during these tough times. Thank you very much for your time and attention, and I will hand this over to you, Lucas.
Lucas Lira -- Chief Financial and Investor Relations Officer
Thank you, Jean, and hi, everyone. As you will remember, Q2 2020 was very tough because of the impact of COVID-19. Volumes collapsed in many markets and the mix shift was severe. However, despite these short-term headwinds, we didn't panic.
We did what we had to do to adapt quickly, getting even closer to our ecosystem. And most importantly, we did not lose sight of the long term and decided to seize the opportunities brought by the crisis and placed some big bets to set us up for a sustainable recovery. Fast forward 12 months, our Q2 2021 financial performance brings more evidence of the continuous and consistent improvement that I've been talking about so much. And the good news is that our team's disciplined execution behind these bets is continuing to pay off big time.
And here's why. Net revenue grew a little over 36%. EBITDA grew 24%. Normalized profit grew nearly 116%, while operational cash flow remains unabated and grew about 2%.
In addition, our financial performance in the quarter was boosted by BRL 1.6 billion in tax credits, of which BRL 1.2 billion in other operating income and BRL 0.4 billion in our financial results. Just to recap, these tax credits resulted from a favorable Brazilian Supreme Court decision last May that confirmed its 2017 ruling that the inclusion of the ICMS state tax in the taxable basis of the PIS and the COFINS federal taxes was unconstitutional. Given the nature of this dispute, these tax credits are technically part of our normalized results from an accounting standpoint. But as was the case in our Q4 2020 financials, we disregarded these tax credits for purposes of calculating our organic performance, treating them as a scope change.
We still have some pending litigation in this matter going forward, and we will keep the market updated as things progress. However, as disclosed in the notes to our financial statements, the amounts that remain under dispute are not as material. While I'm on the subject of taxes, I also wanted to briefly comment on the proposed income tax reform in Brazil, which has generated a lot of questions from investors lately. The draft legislation is currently being discussed in Congress, and we are monitoring the proposed changes under public debate very closely.
It is too early to speculate what will unfold. So we cannot comment on what impact, if any, this part of the broader tax reform will have on us and/or our shareholders. Should there be any material developments, we will, of course, keep everyone informed. Now back to Q2.
As expected, the quarter presented meaningful headwinds in terms of costs and expenses. COGS per hectoliter grew nearly 16% on a consolidated basis. These headwinds were mostly felt in Brazil, where our cost of goods sold was negatively impacted by adverse FX and commodity costs. On the other hand, better-than-expected mix, thanks to our commercial initiatives and on-trade reopening witnessed toward the end of the quarter, drove our returnable glass bottle volumes up, which reached nearly 40% of our total volumes, which is up from 30% in Q2 2020.
Also, cash SG&A was higher, growing about 42% on a consolidated basis, where sales and marketing grew 35%, pretty much in line with our net revenue growth of 36% as we implemented our commercial plans for the quarter. Distribution expenses grew 28%, also below our net revenue growth, mainly because of higher volumes, growing innovation, returnable glass bottle mix, and expansion of DTC platforms in countries like Brazil. And administrative expenses doubled with most of the increase coming from provisions for variable compensation since our performance for the year continues to be better than expected. And remember, 2020 was a no bonus year.
Should our performance remain on track during the second half of the year, variable compensation should continue to impact our year-over-year SG&A performance. Having said all that, the most important message is that despite all these headwinds, we remain on track toward our main ambitions for the year. Strong and balanced top line-led recovery across our markets with better net revenue per hectoliter performance versus 2020. We continue to expect Brazil beer cash COGS per hectoliter to grow in the low 20s for the full year, with better-than-expected mix pretty much offsetting increasing nonhedged commodities exposure.
And normalized consolidated EBITDA performance for the full year should improve as we work to get back to 2019 levels. Let me now turn to our financial priorities of protecting liquidity and improving our return on invested capital. Liquidity remains under control. Thanks to the strong cash generation during our recovery, we decided to pay down in Q2 the remainder of the debt we raised at the height of the COVID-19 crisis to create an additional liquidity cushion.
Having said that, going forward, we still believe it is warranted to maintain a prudent approach toward liquidity given the uncertainty and volatility that persists across our markets. As for the journey of improving our return on invested capital, we remain laser-focused on operating as efficiently as possible, but we are also more and more focused on improving our resource allocation across the company. Think of it this way. We have great people, we have great assets, and we have very strong cash generation.
So the better we get at resource allocation, the greater the chance of consistently creating value. This value creation mindset is becoming a big focus of ours. And a good example of this approach is how we are looking at our technology platforms. Platform business models like BEES, Ze, and Donus in Brazil not only make total business sense from a customer and consumer standpoint, but they also make sense from a return on investment perspective.
Of course, we are still scaling them up, but we believe that once at scale, these platforms can drive important value creation for the company. And the reason why I say this is twofold. First, connecting these tech platforms to Ambev's base of customers, consumers and brands will broaden our total addressable market with potential for further growing both top line and bottom line in absolute terms. And second, over the last decades, we developed this amazing asset base in terms of distribution, capabilities, and reach as well as trusted relationships with millions of points of sale across Latin America that provide our technological platforms with a very solid foundation to build on and scale in terms of speed, autonomy, and leverage.
The more we are able to use the core business as a springboard, the less capital we will require to grow these businesses. In terms of use of cash, after taking into consideration the appropriate liquidity levels for a more unpredictable and changing environment, after allocating resources efficiently toward organic growth, and after keeping some M&A dry powder, we intend to continue returning excess cash to shareholders over time. To wrap up, a quick word on ESG. On June 28, we held our ESG day when we shared our thinking in terms of how we are approaching sustainability, which, after all, is our business.
Thanks to everyone who joined. And for those of you who are unable to make it, the materials can be found on our IR website. And we look forward to continuing this dialogue with the investment community because there's still a lot much more to share, to learn, and to do. Thank you.
And with that, let's move to Q&A.
Questions & Answers:
Operator
Thank you. [Operator instructions] Our first question comes from Marcella Recchia with Credit Suisse. Please, Marcella, go ahead. [Foreign language]
Marcella Recchia
Hi, Jean. Hi, Lucas. Thank you for taking my questions. I have two questions here.
First on Brazil beer. Could you explore a little bit more about the strong top-line growth we have seen now for a few quarters in a row and your expectations to sustain this momentum going forward? I'll wait that before going to my second question.
Jean Jereissati -- Chief Executive Officer
So, yes, Brazil beer has been with good momentum for a while right now. We know that last year, in the pandemic, the comps are all over the place. But if you look at a cleaner reference that is 2019, you can see clear how Brazil is still with gaining momentum quarter after quarter. Ambev is accelerating, too.
And I think this is based on many decisions that we took all over the past year, that it was really a mindset of being the leader in expanding the industries. And the industry had this opportunity to develop the in-home occasion, increasing -- helping to increase frequency. A lot of the mindset on innovation where 20% of our revenues are really coming from India, Brazil, from products that did not exist three years ago. And this is a pipeline of brands that they are coming quarter by quarter, and they are maintaining their performance.
So I'm very excited about that. There is one information, too, that we have here in Brazil about the brand equity, the brand power of our portfolio. And when we compare H2 2021 with H2 2020, we gained 3 million new fans of our brands. So that's a KPI that we focus and we follow very close.
So consumers that they really elect one of our brands as their preferred brand. So this number is really increasing. Our portfolio is really stronger. And moving forward, I think somehow the good news will come as the vaccination come back.
With the reopening, we come back to our stronghold. There is really this socializing out-of-home occasion. So somehow I feel very confident that we are with a structural moment on our top line, with momentum. That, I'm very confident of.
Marcella Recchia
Perfect, Jean. My second question now is more sort of an update about your vendor initiative, Menu.com. Could you share with us more about the recent developments on this business line?
Jean Jereissati -- Chief Executive Officer
Menu?
Marcella Recchia
Yes.
Jean Jereissati -- Chief Executive Officer
The marketplace. Right?
Marcella Recchia
Exactly.
Jean Jereissati -- Chief Executive Officer
So that was a start-up that we accelerated two years ago. We grew 60 times their GMV with us. And then we make a decision to -- when we accelerate Menu, we didn't have this developed. And then now we decided to combine these initiatives.
And then the marketplace and the new assortment will be leveraged by the audience of BEES. So we are migrating these platforms. We have this view of customer community. And then we are adding technologies for this customer community.
And BEES will lead that. And so Menu now is inside BEES. The founders are leading the way with that, and we are really putting all together. So mentioned -- and then going to BEES.
So now we have 70% of our active buyers already purchasing through the platform. That was like 20% like one year ago. The GMV, when we put our beers, is really accelerating, so BRL 9 billion now. And the NPS that we measure about the usage of the app, the delivery is really all-time high.
And we are, with all the team of Menu, using this platform to develop the partnerships, the relation with the different industry, the knowledge about everything together. So BEES and Menu, they were integrated.
Marcella Recchia
Perfect, Jean. Thank you so much.
Operator
Our next question comes from Carlos Laboy with HSBC. Please, Carlos, go ahead.
Carlos Laboy -- HSBC -- Analyst
Yes, everyone. Good morning. Lucas or Jean, can you please share with us how your digital capability and your upgraded approach to the business, your upgraded values are changing the way that you impose price discipline across the marketplace? In other words, how you resist maybe the impulse or temptation for discounting. And I'm speaking about both the will and the capabilities for achieving superior pricing discipline and how you link that then to both your brand development and your market development.
Jean Jereissati -- Chief Executive Officer
OK. I'll take that one. Laboy, thank you very much for the question. So if you look back on this -- on our journey of becoming more digital and in our vision of moving from a beverage company into a platform where we have two big communities, there is a consumer community that Ze leads and the customer community that now BEES leads.
We are in a long journey of building this capability and this muscle. We acquired back two years ago [Inaudible]. That was really the company that helped us in the beginning, and then we internalized. And then we invested on BEES and now in Ze Delivery.
Now we have something around 2,000 coders working with us, really with this mindset of being able to get digital products and not just beverage products in the market. And BEES and Ze, both, they give us a lot of visibility, a lot of granularity for us to increase big time our revenue management capabilities. So I'll talk first about BEES. Now 70% of our customers, they are there.
And so we know when they buy, we are really learning that they prefer to use the app during weekends and do not wait for the sales rep, and then the sales rep gets there. And there is the learning that something that we didn't figure out before that they buy. B2B business is made of impulse, too. So they buy in different days if you have good promotions.
And we can add different products to a basket if you really have the insight about the basket of our customers when we add different information. So BEES is a completely different muscle animal that will help us have a lot of insights on our pricing strategy, much better that we had before. And BEES helped us already. If you see our discount optimization big time this year where we are much more linear, much more in terms of acquiring new customers.
So we are with 10% more customers that we had before the pandemic. And this type of granularity and artificial intelligence is really helping us really to be efficient with discounts and to do a smarter pricing and smarter revenue management. And Ze is another thing. So Ze, we have a 5 million consumers community that they use the app.
And we are just targeting now 1 occasion that is this thing about ultra convenience, 20 minutes, 30 minutes beer at home with supermarket prices. But then there is a lot of room for us really to follow all the consumer journey, think about when our consumers, they have a party to anticipate that and have a different type of revenue management for that occasion. And we are -- and we have the opportunity to increase big-time signatures, too, where we have another app. And Ze Delivery came at some point in time decide if it goes for this new mission.
And all these missions, we can go very granular. You can really decide in a smart way what's the revenue strategy for it. So we are in a completely new moment in terms of capabilities of using data to decide our revenue initiatives.
Carlos Laboy -- HSBC -- Analyst
So you have more tools and capabilities for protecting the value of your brands by offering a point of sale on array of other areas and services where you don't have to give away value in your brands, essentially. Right?
Jean Jereissati -- Chief Executive Officer
That's it. Because we are -- we add convenience. We think about missions. We understand our consumers.
And with a broader portfolio, we can -- when we put all these four levers together, we can really go to a different level of revenue management with the technology that we just added.
Carlos Laboy -- HSBC -- Analyst
That's -- this is excellent. Thank you very much. I appreciate your insights.
Operator
Our next question comes from Thiago Duarte with BTG Pactual. Please, Thiago, go ahead.
Thiago Duarte -- BTG Pactual -- Analyst
Hello, Lucas. Hello, Jean. Hello, everybody. Thanks for the opportunity.
I'd like to ask three questions, actually. The first one is, if you can help us navigate through the SG&A, particularly in Beer Brazil, but I think it goes for the rest of the -- of geographies. But particularly in Brazil, I mean, it's clear the year-over-year pressure on G&A coming from bonus accruals. But it also feels like that there is more to it.
And I was wondering how much that's coming from the digital initiatives and the last mile logistics that is arguably impacting your cost there, particularly coming from BEES and Ze. So if you can help us through -- navigating through it in terms of how we should think of it in percentage of revenues going forward for SG&A, that would be nice. The second question is on BEES. And you mentioned the BRL 9 billion GMV in Brazil and how 70% of your clients are already active in the platform.
But can you help us or can you detail a little bit more on how that GMV breaks down between Ambev's products and third-party products? Or in other words, how much your clients -- of those 70%, how much of their purchases they are doing effectively from the platform? And that will be nice to hear as well. And the third question, can you talk a little bit, I think, more to industry? Can you talk a little bit more about the resilience of the beer industry? You already discussed in a previous question about the momentum that you guys have built over the last four quarters -- four or five quarters. But can you talk about the industry itself? Because it really looks like the industry -- Ambev is stronger than the industry now, but it looks like the industry is strong on itself. So can you talk about BEES in terms of the demand and in terms of how the occasions have built during the pandemic and how you expect this normalization to affect your mix in particular? Because it also looks like premium has gained more ground on the back of these changes provoked by the pandemic.
So if you could elaborate on that, that would be nice.
Jean Jereissati -- Chief Executive Officer
OK. Good questions, Thiago. Thank you for the questions. I will start backwards.
We start with the industry, then BEES and then we'll go for SG&A. OK? So industry, first of all, yes, we are seeing a resilient industry. We always mentioned that our industry is a resilient one. And the point there is that it's like we really made this decision a little bit before the pandemic to -- as a leader company to really bet on that.
We studied a lot the difference of industries and performance of Brazil and Mexico to get our approach down in here in Brazil. And then when the pandemic came, we really decided to really accelerate toward the future, toward what's going on in a market that's maturity two and goes for maturity three and what's our approach for channel and innovation and occasions. So we really went bold on that. A big part of the industry expansion, probably all of the industry expansion, is really coming from our volumes.
And what we have seen, it is that I think -- is that beer in Brazil, it is something that is very healthy in terms of consumer approach. So it's not losing share of growth. It's very healthy. It's a category that we see as very healthy.
The interest, the concept about new liquids and the meaning of the brand. So everybody is still very important in the culture and the people's lives. So this is one thing. The second thing is that we always knew that moving forward to a more mature market, new occasions would come, and then we have this view of a big part of the increase in the industry in Brazil coming.
It's coming from frequency. It's coming from in-home. It's really coming from Mondays and Tuesdays relaxation mindset. So that's what we see.
And we believe this is something that we see coming in all the markets, and it was just accelerated by the pandemic. And we believe that the residual of that will maintain. And then with the vaccination and the restrictions really being lifted, we will go back to the other occasion that are really our stronghold, the bars and the socializing out of home. So in the end, I believe that the combination of like Ambev really putting industry as a priority in the learnings of Mexico and the innovation that address occasions and address new consumers who, for example, Stella Sem Gluten is really -- so it really add consumers for the industry.
I really believe that the industry will keep strong. So that's my view on that. I believe that with vaccination and with all the things that we did, I think we want to have -- I'm optimistic in terms of industry about H2. In reality, a surprise for us, it was more than the high end what we saw.
It was really innovation in core and the resilience of the core, really making a big part of this growth of the industry that we navigated very well. High end is something there is more structure, is more long term. So this is -- we know that's the one coming. The difference that we really saw in this last year, it was really innovation in core that drove a lot of the changes in the industry.
OK? So this is one thing. So second thing about BEES. So first of all, we -- the vision is to digitalize our customers and then to have beer as their backbone. So they have to download the app, the BEES.
They have to -- the usage has to be good. The NPS has to be high. And we should be able to do it by ourselves, like beer, thinking about the new role of the sales representative, how they will be in part of that, how we're going to bring all this e-commerce experience for our B2B. And this is where we are.
So we are guaranteeing that this is -- so we are aggregating now our wholesalers. So BEES is now a platform that we're going to be in 100% of direct distribution centers and wholesalers. So we will be all over Brazil. And then with that, we begin to aggregate partners.
OK? So this BRL 9 billion is pretty much our beer GMV. When we put at Ambev today, information that I can give you is that we are close to BRL 100 million of products that didn't -- are part of our portfolio. This is growing very fast as we continue to expand our e-commerce portfolio. Now we are with around 300 SKUs that -- they are not from our portfolio.
They are now, but they are not produced by us. Thirty-one partners, and we are in 380 cities offering this new portfolio. And so this is the type of numbers that we have. So BRL 100 million Ambev, not just Beer Brazil that -- with products that are not from our portfolio and growing very fast.
When we go for SG&A, I think we have to break it down. It's hard for us to talk about SG&A combined because they have very different dynamics. Sales and marketing is pretty much what we've seen this quarter, maybe a little bit of phasing from things that we didn't do in Q1 because of Carnival that we invested more in the premium now. But overall, in the long term, they should be like in line a little bit below our top line.
When we go for distribution, what came above our volumes, performance, and normal inflation? There is a half-half performance on this innovation that we just launched, and then the supply capabilities, they are coming. So we launched it, for example, now a brand called Spaten. So it is starting through breweries, and then we move it a lot, and then we catch up to producing more breweries. So there is a piece of it.
And a piece of it is really the transformation, the last mile, the Ze. So when we look at these numbers in the past, what goes beyond the volume and the inflation, there is a half-half. There is a lot of efficiency for us to do on these two fronts. The supply capabilities of innovation, they are accelerating.
And Ze, the last mile, there is a lot of opportunity for us. And bonus is really that we didn't have last year. And once we decided that the role of this year was to have a V-shaped recovery on the top line, so in the end, this is something that we are delivering, and we are accruing the bonus for that. There is above last year and above a normal average that we had in the past.
But I will ask Lucas to give a little bit more insights on the SG&A, please?
Lucas Lira -- Chief Financial and Investor Relations Officer
OK. Thank you, Jean. Thanks for the question, Thiago. So I think on sales and marketing, right, I think the way to think of it, OK, is really around sales and marketing, which is what we saw in H1.
Right? We saw net revenue growth ahead of sales and marketing. OK? So I think it's -- we're not targeting specifically any sort of trend going forward. But if you look at the performance over the last few quarters, that's what you've seen. OK? In terms of distribution, I think the way Jean broke it down makes sense.
OK? So I would look at it on the variable side really linked to volume growth and also mix of returnable glass bottles on the one hand. OK? And so as volumes continue to grow, it's reasonable to expect distribution expenses to also grow. And as returnable glass bottles recover, likewise, some increase in distribution per hectoliter as a result. And then on the other side of distribution expenses, we have the innovation, and we have initiatives like DTC.
Innovation, there's opportunity for improvement as we bring online more production capacity spread out around the country to really avoid the need to ship product long distance as the footprint improves for innovation. And as Jean mentioned, regarding DTC, the reality is that Ze is still not at scale. And so as it continues to scale up, we do see more opportunity for efficiencies on the distribution side of the DTC platform. OK? And then finally, on admin, the bulk of the organic variance year over year is indeed coming from variable compensation that explains more than half of the increase.
And that's a function of the fact that recovery is better than expected, right, as we went into the year. So if we continue to deliver better-than-expected results for the remainder of the year, we should continue to accrue for bonus going forward. OK?
Thiago Duarte -- BTG Pactual -- Analyst
Great answers. Thank you so much, guys.
Operator
Our next question comes from Isabella Simonato with Bank of America. Please, Isabella, go ahead.
Isabella Simonato -- Bank of America Merrill Lynch -- Analyst
Hi. Good afternoon, everyone. Jean, Lucas, thank you for the call. My question is on the cost side, right? I remember, Lucas, you mentioned last quarter that Q2 was likely going to be the peak when we think about cost per hectoliter.
And in reality, it was better than Q1. Right? And at the end of the day, you're keeping the guidance for the year. So I was wondering, what exactly changed this quarter, right, and how you're facing this for the second half of the year?
Lucas Lira -- Chief Financial and Investor Relations Officer
OK. Hi, Isabella. Thanks for the question. You're right, we had a positive surprise in Q2 on the COGS per hectoliter -- on the cash COGS per hectoliter performance.
That improvement came mainly from mix. OK? And the reason for that improvement is really better-than-expected returnable glass bottle volumes, which recovered much faster than we anticipated. OK? And so -- and that's good news for the remainder of the year as we continue to work behind having returnable glass bottles, continue to gain weight as part of our mix. OK? And the reason why we are maintaining the full guidance for the year is because you may remember that in Q1, I referred to the fact that part of our commodity costs are not hedged.
Right? And given the way that commodities have continued to trend since then, the commodity cost pressure, the unhedged portion, right, is actually continuing to become more of a headwind. OK? Net-net, we think it's going to be pretty much awash, meaning the higher unhedged commodity costs are going to be pretty much offset by better mix, right, which allows us to reiterate the guidance of cash COGS per hectoliter in the low 20s for the full year. OK? But that's the dynamic, better mix, offsetting higher unhedged commodity costs.
Isabella Simonato -- Bank of America Merrill Lynch -- Analyst
That's clear. Thank you very much.
Operator
Our next question comes from Ben Theurer with Barclays. Please, Ben, go ahead.
Ben Theurer -- Barclays Capital -- Analyst
Thank you very much, Jean, Lucas. Congrats on the results. Just wanted to follow up a little bit on the strategic initiatives around the DTC and the B2B business and how that is aligned with your more flexible pricing strategy, and how you think of the back half of the year and then into 2022 in regards to potential price initiatives, and how you think you can leverage what you've established on the DTC and B2B business. Thank you.
Jean Jereissati -- Chief Executive Officer
Yes. So let me try to give you a broader answer on that. So, yes, we are reviewing upgrading our strategy moving forward. We have this business vision that we are much more than a beverage company.
We want to transform into a platform with inspiring brands that really connect people in the ecosystem so that we can all grow together. And so there is a big bet on the tech piece on really upgrading the company into a platform where we have two communities that we really have to serve perfectly the customers community and the consumer communities. And then Ze is addressing consumers. And then we're going to think about how to add more technology to that, more missions, more occasions, more -- Ze should be more omnichannel.
And then BEES is really about customers. And then we should like integrate it more with Donus and really upgrade BEES to a technology that serves Ambev customers, but should move into a broader portfolio that we already talked in the scope. But then moving then into a fintech that has this opportunity to really solve financial problems, financial services of our customers with credit and with POS machines and everything. So we are really going in these two directions.
And the possibilities that we have in revenue management, they are transformational. So if you think we are, long term-wise, piloting discounts more as cash backs in the financial deck, in the financial -- in the fintech combined with BEES, so we are really thinking about -- so we are learning a lot with this granular, big assortment. A lot of customers' information that we have, that we are using artificial intelligence. And the algorithms, they are upgrading.
And we are getting better and better on adding more portfolio to the same clients, on adding portfolio that is not from our breweries that -- but they are very essential to our customers. And so there is a lot of this new muscle of revenue management that we have on the customer side and on the consumer side. And at some point in time, these things will be really fully connected. So we give the discount to a consumer that goes in a customer that has BEES.
And these things connect and they match each other at this rapidly. So it's going to be a new muscle that we want to -- that we are working very hard to be a competitive advantage for us. And we believe the things that we are learning this year, they will really help us in 2022 because they are really a transformation. And they are really good, not just from our perspective, but in the way we settle the things with customers, in the way we target consumers and get more discounts for consumers on a occasion based on missions.
So I really believe this muscle will be very important for us for 2022. It will help us on the top line. And other thing, it is that the best thing that we have, so we are living on an inflationary scenario here in Brazil still. And in the end, so we have to make the decision on the price increases that usually comes on September, in the middle of September.
And the good thing is that we are seeing momentum, and it will be September, October in our business. We see momentum in our business, and this is very important to make these decisions because we feel comfortable to take risks. And we are seeing the vaccination numbers where Brazil can be with like 80% of the population fully vaccinated by October, November. So it looks like we want to have a good end of the year with good momentum and with new tools and capabilities for us to really live in this inflationary scenario that we've been living in the last couple of quarters.
Ben Theurer -- Barclays Capital -- Analyst
OK. Which in turn then should also help you to offset some of the incremental raw material COGS pressure you most likely have locked in for, what, at least the first-half '22. Correct?
Lucas Lira -- Chief Financial and Investor Relations Officer
Yes. Hi, Ben. Yes. This is Lucas.
I can take this one. I think the answer is yes. It should help partially offset that. And remember that given our hedging policy, right, of course, we still have pretty much half of the year to go in terms of hedging.
But what we're seeing now is that looking into 2022, the pressures that we face for 2022 are far lower than the headwinds that we are facing in 2021. Right? Remember that given how the BRL and the Argentinian peso trended in the last 12 months, right, the bigger portion of our cost headwind this year is coming from FX. Right? And looking into 2022, that's not the case so far this year. Right? There's still half of the year to go.
But so far, we're at a much better place on the FX head side going into 2022 as opposed to where we are today. OK? And on the commodity side, yes, we do face higher commodity headwinds going into 2022. But the net-net combination of FX hedges and commodity hedges are at a much lower level than the type of headwinds we're facing in 2021.
Ben Theurer -- Barclays Capital -- Analyst
OK. Perfect. Well, fingers crossed for the second half, and thank you very much.
Operator
Our next question comes from Joao Soares with Citibank. Please, Joao, go ahead.
Joao Soares -- Citibank -- Analyst
Thanks. Yes. Good morning, everybody, Jean, and Lucas. I just have two quick ones on my side.
The first one, I just wanted to understand -- with the vaccination accelerating in key cities here in Brazil and the on-trade recovering, I just wanted to understand -- I mean of course, you're developing very well on BEES. And of course, we're very close to that client throughout the most critical moment of the pandemic. So I wanted to understand how your share, how should we imagine Ambev's overall market share in the on-trade once things recover fully? So that's my first question. The second question, yes, I know BEES is developing very well, and thanks for sharing that information on the GMV and the color on the 3P.
But I wanted to understand about competition, looking more into the long term. Do you identify any potential competitive pressure coming from potentially wholesalers developing their own online businesses that compete with the B2B clients and BEES? So just wanted to understand more of the long-term outlook for BEES.
Jean Jereissati -- Chief Executive Officer
So first, let's talk about the market share reopening in the on-trade. I think our -- so based on our information, so our market share, it's very strong. And so we have -- if you think about the last quarters, so I -- this Q2, it is something that we are with very good market share, that something that we begin to build. And we really are on -- as I mentioned in the beginning, it looks like Brazil is in a new level of volumes and market share on this Q2, and I believe this.
If you think about channel mix, if we really can maintain the market share that we have channel by channel, and if their on-trade recovers this occasion of socializing out of home, so usually, this should be positive for us because it's the occasion that we really over-index. So somehow, I'm optimistic about the market share. And so let's see how it goes in H2. But theoretically, the trend should be in our favor.
And on top of that, so there is a lot of thing that is really structural. So the Brahma brand is much healthier than before. Brahma Duplo Malte helped the whole category, so the whole family. So all the Brahmas helped big time on there and growing a lot on equity there.
So this is an important point on the consumer side. So my RTM is really structurally better than before. I'm reaching more customers. My service level is all-time high.
So the digitalization is bringing a completely new features and opportunities that we have, that they are liking so much, the adoption was so high. So somehow, I'm very confident on that matter. When you think about -- when we talk about wholesalers and BEES, I believe somehow we are ahead of the game. So we were really -- we started this in the right moment.
If you are talking about my wholesalers, my wholesalers, they are really inside my ecosystem, very excited and aligned with the BEES platform. So my wholesalers, that they are -- so my RTM is really 100% with BEES. When we look about other beverage companies and other FMCGs, looks like we are pretty much ahead in the game. I know some competitors, they are trying here and there.
But I don't see that much coordination on that matter. So I think we are ahead in the game. And I think the marketplace, I think the competition is more on attack alone on these things. But in the end, there's a lot of opportunity.
So this market is so fragmented. So the leader in this industry has 3%, 4% of market share. So it's really a place where competition is very fragmented. And somehow, we bring a service level and a capability of delivering and reaching that unparallel.
So somehow, I think this is the things that I could mention about your question.
Joao Soares -- Citibank -- Analyst
Thank you, Jean. Just to be clear, I was referring to the players [Inaudible]. But I think you had answered the question. Thanks.
Lucas Lira -- Chief Financial and Investor Relations Officer
Yes. We think the total addressable market is huge, and this industry is very fragmented. So we see plenty of opportunity. That's the bottom line.
Jean Jereissati -- Chief Executive Officer
And I think it's less about competition in -- because it's very fragmented. It's really about underserved customers, that they are really in need in this moment, that all the small retailer need productivity to go over this pandemic in the future. They are in need of some company or some app that really solve their problems. And I think they are really underserved today.
So that's the view.
Joao Soares -- Citibank -- Analyst
Understood. Thanks.
Operator
Our next question comes from Alan Alanis with Santander. Please, Alan, go ahead.
Alan Alanis -- Banco Santander -- Analyst
Thank you so much. Hey, Lucas and Jean. Congratulations on the results and then the innovation and the strategic direction of the company, particularly in the [Inaudible]. Just a couple of quick questions.
One of them tactical, the other more strategic. The tactical one, could you help us understand the 4% sequential decline in pricing in beer in Brazil from the first to the second quarter? How much of that is product mix, brand mix, channel mix, and so forth? And the strategic question has to do with Chile, if you can give us an update in terms of your relationship with the Coca-Cola system over there. I understand that it's working very well. What are the lessons that you have learned? And what are the opportunities for those partnerships in other parts of Latin America?
Jean Jereissati -- Chief Executive Officer
Thank you, Alan. Let me get this one. So the price reduction quarter over quarter, if you look back in the past, so it usually occurs mainly because of region mix and a little bit of channel mix. So it's something that is a little bit more structural than decision.
It's -- most of the years, it's there. It's around seasonality and mix, in general, of regions and channels. OK? So there is no big deal on that. It's not something that was a decision.
It's something that is more normal. OK? When we go to Chile, so -- yes. So the good part of that is -- looks like -- and [Inaudible], as they mentioned to us, it's very happy. We are very happy.
It looks like Coke company is happy, too. So it's a deal that like it's -- there were a lot of value that we are properly sharing, and everybody is in a more nurture is -- looks like is happy. And it's a platform where one plus one is more than two, isn't it? Because -- so we have the leading brand in terms of equity in Chile. There is Corona.
They have the leading platform of distribution. And we were trying to put these things in parallel when we decided to go together. The governance is working. And it just makes us confident to have more alliances in general, wasn't it? So BEES all over the place is a technology where we are building a lot of alliances and partnerships.
And so I think this concept of alliances, they will be on the next level. In the past, it was just alliance on exclusive distribution. Now -- and we are very happy with Chile. But then we have to think alliance on a broader perspective, on using the technology, on Ze Delivery, on BEES here and there.
Sometimes you have distribution. Sometimes you don't have the distribution, just get the take rate. So this concept, so we are going to be much more open to different types of alliances for us to do than we were before. Chile was -- is one type that made us really confident that alliances are good and possible.
Alan Alanis -- Banco Santander -- Analyst
Yes. That makes a lot of sense. And, yes, they're very happy. So, again, congratulations, and thanks for taking my questions.
Thanks.
Operator
Our next question comes from Rob Ottenstein with Evercore. Please, Rob, go ahead.
Rob Ottenstein -- Evercore ISI -- Analyst
Great. Thank you very much. A few questions that may be related. First, can you talk a little bit about how your high-end business in Brazil Beer is developing? Obviously, a tremendous portfolio.
But what percentage of your business now? Is it the high end? Is that part of the business gaining share? And are you seeing any changes in the consumer base between kind of the craft beers that you have, the imports? Any nuances around Corona, Beck's? So that would be the first question. And then the second question is, can you talk about innovation this year, kind of revisit what are the most important innovations in 2021? And anything that you're doing that's notable on the -- beyond beer or returnable -- not returnable bottle, returnable drink side -- ready-to-drink side, I'm sorry, ready-to-drink side in your region? So high end, '21 innovation, and ready-to-drink beyond beer projects in '21. Thank you.
Jean Jereissati -- Chief Executive Officer
OK. So thank you for the question, Robert. Let me get the premium first. So this was a quarter that we grew with our portfolio of something around 35%.
So it was a good growth. So what we saw during the pandemic is that -- so we saw, in terms of portfolio, this thing about the resilience of the core. The high-end growth in this segment is something more structural, that it's like a more long term. And we see it coming back again.
And this is a structural. It's something that is our priority. And we put, as a KPI for us, brand equity, so investment in branding ahead of any type of market share gains. OK? So that was our decision.
We put the portfolio in place. We position the brands, find the consumers. And then we are really investing marketing dollars, over-indexing big time on the high end. And we really want to drive brand equity ahead of any type of penetration in consumption to really have a sustainable long-term business.
And we are very excited about it because we are growing equity very fast in a very consistent and sustainable way with our portfolio. And then our portfolio has to grow volumes accordingly. So it was a good quarter, but I'm more excited with even though -- with the brand equity on how Corona is really performing in Brazil, on how Beck's, it really came with this vision of a product that follows the [Inaudible] and has the edge in flavor as [Inaudible]. So I'm really excited about brand equity moving very fast, sustainable for our portfolio, and then volume will follow.
OK? So this is one thing. Second thing, it is that when we talk about innovation and adjacencies, so talking about beverage here, so the pipeline of innovation, the most relevant things that we have in place are -- so a bet on health and wellness. OK? So this is the avenue that we're going to populate, and we're going to have more products on that. So we are in the Olympics now launching Michelob Ultra in Brazil with the Olympics -- in the Olympics moment.
Usain Bolt is our -- is in our advertising. So it was a good moment for us to launch Ultra. We just rolled it out after the pilot Stella without gluten that we are very excited about. So we're bringing new consumers to the beer industry.
So these are -- this is an avenue, Ultra, and Gluten. We launched it in terms of renovation of the core, a brand called Spaten. There is one brand that from our portfolio, German first dated from 1397 that we are rolling out in Brazil, that it will have entry, premium, core-plus prices that is important bet that we have. We just started to roll it out.
And in terms of adjacencies. So the Beats brand is doing very well. We are rolling out Mike's Hard Lemonade with the flavors and with the lemon, tangerine, and pitaya flavors. And we are piloting Hard Seltzer.
So that's where we are. And these are the three most important avenues of pipeline, of innovation that we have for the H2.
Rob Ottenstein -- Evercore ISI -- Analyst
Great. And if I could just follow up. And I was very interested in your comments on growing brand equity ahead of volumes essentially and making a KPI brand equity. Is that approach somewhat different than what you've had over the past history? I mean, not maybe the last couple of years, but historically, over the last 10 years, would that be a very different approach?
Jean Jereissati -- Chief Executive Officer
So this -- specifically, this KPI that we are following, brand power -- or brand equity and power are going faster than the market share. It was something that, for now, we are 18 months consistent with this specific strategy, and we begin to see it paying off.
Rob Ottenstein -- Evercore ISI -- Analyst
Terrific. Thank you very much.
Operator
Ladies and gentlemen, that concludes our question-and-answer session for today. Now I would like to turn the conference over to Mr. Jean Jereissati, CEO for Ambev, for his final remarks.
Jean Jereissati -- Chief Executive Officer
So I would like to thank again my team, Ambev, for their dedication during these tough times. I also want to thank analysts and everyone who joined this call for time and attention. And to wrap up, I'm really confident about the future. I have this feeling that we -- our company is really structurally better in a tough cycle of commodities and currencies.
But when you look at the underlying trends, we are really structurally better. Commercial strategy, innovations, tech platforms, and operational excellence is really delivering results. We seized the opportunities brought by the crisis. We placed big bets of accelerating toward the future in a sustainable recovery.
Transformation is here in our business. So we have this vision of platform, customers, and consumers, two big digital products that we have, BEES, and Ze. And our portfolio is really stronger than before. Brand equity, brand power is really showing that.
We have 3 million consumers in Brazil that claimed -- that mentioned to us that one of -- in the past, one of our brands were not their preferred one. And now one of our brands are their preferred one. So I'm very excited about my portfolio. And cash generation is strong, remains strong.
So thank you very much for all your time and attention, and have a great day.
Operator
[Operator signoff]
Duration: 55 minutes
Call participants:
Jean Jereissati -- Chief Executive Officer
Lucas Lira -- Chief Financial and Investor Relations Officer
Marcella Recchia
Carlos Laboy -- HSBC -- Analyst
Thiago Duarte -- BTG Pactual -- Analyst
Isabella Simonato -- Bank of America Merrill Lynch -- Analyst
Ben Theurer -- Barclays Capital -- Analyst
Joao Soares -- Citibank -- Analyst
Alan Alanis -- Banco Santander -- Analyst
Rob Ottenstein -- Evercore ISI -- Analyst
More ABEV analysis
All earnings call transcripts
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Companhia de Bebidas das Americas (NYSE: ABEV) Q2 2021 Earnings Call Jul 29, 2021, 11:30 a.m. Operator [Operator signoff] Duration: 55 minutes Call participants: Jean Jereissati -- Chief Executive Officer Lucas Lira -- Chief Financial and Investor Relations Officer Marcella Recchia Carlos Laboy -- HSBC -- Analyst Thiago Duarte -- BTG Pactual -- Analyst Isabella Simonato -- Bank of America Merrill Lynch -- Analyst Ben Theurer -- Barclays Capital -- Analyst Joao Soares -- Citibank -- Analyst Alan Alanis -- Banco Santander -- Analyst Rob Ottenstein -- Evercore ISI -- Analyst More ABEV analysis All earnings call transcripts This article is a transcript of this conference call produced for The Motley Fool. Also, cash SG&A was higher, growing about 42% on a consolidated basis, where sales and marketing grew 35%, pretty much in line with our net revenue growth of 36% as we implemented our commercial plans for the quarter. | Operator [Operator signoff] Duration: 55 minutes Call participants: Jean Jereissati -- Chief Executive Officer Lucas Lira -- Chief Financial and Investor Relations Officer Marcella Recchia Carlos Laboy -- HSBC -- Analyst Thiago Duarte -- BTG Pactual -- Analyst Isabella Simonato -- Bank of America Merrill Lynch -- Analyst Ben Theurer -- Barclays Capital -- Analyst Joao Soares -- Citibank -- Analyst Alan Alanis -- Banco Santander -- Analyst Rob Ottenstein -- Evercore ISI -- Analyst More ABEV analysis All earnings call transcripts This article is a transcript of this conference call produced for The Motley Fool. Companhia de Bebidas das Americas (NYSE: ABEV) Q2 2021 Earnings Call Jul 29, 2021, 11:30 a.m. Distribution expenses grew 28%, also below our net revenue growth, mainly because of higher volumes, growing innovation, returnable glass bottle mix, and expansion of DTC platforms in countries like Brazil. | Operator [Operator signoff] Duration: 55 minutes Call participants: Jean Jereissati -- Chief Executive Officer Lucas Lira -- Chief Financial and Investor Relations Officer Marcella Recchia Carlos Laboy -- HSBC -- Analyst Thiago Duarte -- BTG Pactual -- Analyst Isabella Simonato -- Bank of America Merrill Lynch -- Analyst Ben Theurer -- Barclays Capital -- Analyst Joao Soares -- Citibank -- Analyst Alan Alanis -- Banco Santander -- Analyst Rob Ottenstein -- Evercore ISI -- Analyst More ABEV analysis All earnings call transcripts This article is a transcript of this conference call produced for The Motley Fool. Companhia de Bebidas das Americas (NYSE: ABEV) Q2 2021 Earnings Call Jul 29, 2021, 11:30 a.m. BEES comes with more than 70% of our active customer base, helping Ambev to reach all-time high customers for both beer and NAB as well as all-time high customer satisfaction measured by NPS rating in June, while reaching BRL 9 billion of GMV this quarter. | Operator [Operator signoff] Duration: 55 minutes Call participants: Jean Jereissati -- Chief Executive Officer Lucas Lira -- Chief Financial and Investor Relations Officer Marcella Recchia Carlos Laboy -- HSBC -- Analyst Thiago Duarte -- BTG Pactual -- Analyst Isabella Simonato -- Bank of America Merrill Lynch -- Analyst Ben Theurer -- Barclays Capital -- Analyst Joao Soares -- Citibank -- Analyst Alan Alanis -- Banco Santander -- Analyst Rob Ottenstein -- Evercore ISI -- Analyst More ABEV analysis All earnings call transcripts This article is a transcript of this conference call produced for The Motley Fool. Companhia de Bebidas das Americas (NYSE: ABEV) Q2 2021 Earnings Call Jul 29, 2021, 11:30 a.m. The second thing is that we always knew that moving forward to a more mature market, new occasions would come, and then we have this view of a big part of the increase in the industry in Brazil coming. |
28235.0 | 2021-07-21 00:00:00 UTC | After Hours Most Active for Jul 21, 2021 : PDBC, ABEV, CRM, AAPL, TLT, UBER, CLF, IQ, WFC, ENLC, CSCO, QQQ | ABEV | https://www.nasdaq.com/articles/after-hours-most-active-for-jul-21-2021-%3A-pdbc-abev-crm-aapl-tlt-uber-clf-iq-wfc-enlc-csco | nan | nan | The NASDAQ 100 After Hours Indicator is down -13.48 to 14,829.15. The total After hours volume is currently 68,456,030 shares traded.
The following are the most active stocks for the after hours session:
Invesco Optimum Yield Diversified Commodity Strategy No K-1 ET (PDBC) is -0.0541 at $19.71, with 6,999,326 shares traded. This represents a 51.23% increase from its 52 Week Low.
Ambev S.A. (ABEV) is unchanged at $3.26, with 5,509,076 shares traded. ABEV's current last sale is 112.41% of the target price of $2.9.
Salesforce.com Inc (CRM) is unchanged at $242.11, with 4,497,097 shares traded. As reported by Zacks, the current mean recommendation for CRM is in the "buy range".
Apple Inc. (AAPL) is -0.07 at $145.33, with 3,022,483 shares traded.AAPL is scheduled to provide an earnings report on 7/27/2021, for the fiscal quarter ending Jun2021. The consensus earnings per share forecast is 1 per share, which represents a 64 percent increase over the EPS one Year Ago
iShares 20+ Year Treasury Bond ETF (TLT) is -0.15 at $147.95, with 2,069,986 shares traded. This represents a 11.08% increase from its 52 Week Low.
Uber Technologies, Inc. (UBER) is unchanged at $47.52, with 1,765,571 shares traded. As reported by Zacks, the current mean recommendation for UBER is in the "buy range".
Cleveland-Cliffs Inc. (CLF) is +0.05 at $21.23, with 1,629,348 shares traded.CLF is scheduled to provide an earnings report on 7/22/2021, for the fiscal quarter ending Jun2021. The consensus earnings per share forecast is 1.48 per share, which represents a -31 percent increase over the EPS one Year Ago
iQIYI, Inc. (IQ) is +0.03 at $12.42, with 1,502,040 shares traded. As reported in the last short interest update the days to cover for IQ is 7.254726; this calculation is based on the average trading volume of the stock.
Wells Fargo & Company (WFC) is unchanged at $45.80, with 1,412,122 shares traded. Over the last four weeks they have had 5 up revisions for the earnings forecast, for the fiscal quarter ending Sep 2021. The consensus EPS forecast is $0.98. WFC's current last sale is 94.43% of the target price of $48.5.
EnLink Midstream, LLC (ENLC) is unchanged at $5.61, with 1,305,814 shares traded. ENLC's current last sale is 112.2% of the target price of $5.
Cisco Systems, Inc. (CSCO) is -0.0036 at $53.89, with 1,208,901 shares traded. As reported by Zacks, the current mean recommendation for CSCO is in the "buy range".
Invesco QQQ Trust, Series 1 (QQQ) is -0.15 at $361.41, with 1,201,968 shares traded. This represents a 43.8% increase from its 52 Week Low.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Ambev S.A. (ABEV) is unchanged at $3.26, with 5,509,076 shares traded. ABEV's current last sale is 112.41% of the target price of $2.9. Apple Inc. (AAPL) is -0.07 at $145.33, with 3,022,483 shares traded.AAPL is scheduled to provide an earnings report on 7/27/2021, for the fiscal quarter ending Jun2021. | Ambev S.A. (ABEV) is unchanged at $3.26, with 5,509,076 shares traded. ABEV's current last sale is 112.41% of the target price of $2.9. Apple Inc. (AAPL) is -0.07 at $145.33, with 3,022,483 shares traded.AAPL is scheduled to provide an earnings report on 7/27/2021, for the fiscal quarter ending Jun2021. | Ambev S.A. (ABEV) is unchanged at $3.26, with 5,509,076 shares traded. ABEV's current last sale is 112.41% of the target price of $2.9. The consensus earnings per share forecast is 1 per share, which represents a 64 percent increase over the EPS one Year Ago | Ambev S.A. (ABEV) is unchanged at $3.26, with 5,509,076 shares traded. ABEV's current last sale is 112.41% of the target price of $2.9. The consensus earnings per share forecast is 1 per share, which represents a 64 percent increase over the EPS one Year Ago |
28236.0 | 2021-07-16 00:00:00 UTC | Market Update: The 10 Most Active Stocks on Friday | ABEV | https://www.nasdaq.com/articles/market-update%3A-the-10-most-active-stocks-on-friday-2021-07-16 | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
We’re about halfway through trading today and that means it’s time for a midday market update. Today’s focus is on the 10 most active stocks on Friday.
Source: Shutterstock
Some interesting entries have made it on the list this time around. Part of that’s due to retail traders picking shares to push higher today.
Let’s take a look at the 10 most active stocks on Friday below.
7 of the Best Contrarian Stocks to Buy as Others Get Greedy
Market Update: The Most Active Stocks
AMC Entertainment (NYSE:AMC) stock starts us off with shares heading over 5% higher as some 72 million units traded. The movie theater company’s daily average trading volume is 164.7 million shares.
Apple (NASDAQ:AAPL) shares are dipping about 1% with 41 million changing hands. The tech company’s daily average trading volume is 83.9 million shares.
Virgin Galactic (NYSE:SPCE) stock is falling 1% as some 30 million shares moved. The space flight company’s daily average trading volume is 38.7 million shares.
Nio (NYSE:NIO) shares are decreasing about 2% as more than 28 million shares traded. The electric vehicle company’s daily average trading volume is69.6 million shares.
Ambev S.A. (NYSE:ABEV) stock is gaining slightly today with some 28 million shares on the move. The company’s daily average trading volume is 24.3 million shares.
Moderna (NASDAQ:MRNA) shares running 9% higher with over 23 million units changing hands. The biotech company’s daily average trading volume is 9.4 million shares.
ContextLogic (NASDAQ:WISH) stock is dropping over 4% as more than 22 million shares moved. The e-commerce company’s daily average trading volume is 60 million shares.
Bank of America (NYSE:BAC) shares are dipping more than 1% as some 20 million shares are moving. The financial company’s daily average trading volume is 44.2 million shares.
General Electric (NYSE:GE) stock is seeing shares jump slightly higher today with about 19 million changing hands. The company’s daily average trading volume is 59 million shares.
Ford (NYSE:F) shares finish off the most active stocks list today down about 1%. The company has more than 18 million shares trading as of this writing. For comparison, its daily average trading volume is 82.8 million shares.
We’ve got morestock market newsthat investors will want to check out below!
There’s plenty going on with thestock market todayand InvestorPlace has a quick reference for traders. That includes what they need to know about TD Holdings (NASDAQ:GLG), FibroGen (NASDAQ:FGEN), and Liquid Media (NASDAQ:YVR) today. You can check that info out at the following links.
More Stock Market News for Friday
GLG Stock: The M&A News Causing Penny Stock TD Holdings to Skyrocket Today
FGEN Stock: The Huge FDA News Causing FibroGen Shares to Free Fall
YVR Stock: Why Liquid Media Shares Are Getting Slammed Today
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
The post Market Update: The 10 Most Active Stocks on Friday appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Ambev S.A. (NYSE:ABEV) stock is gaining slightly today with some 28 million shares on the move. Moderna (NASDAQ:MRNA) shares running 9% higher with over 23 million units changing hands. General Electric (NYSE:GE) stock is seeing shares jump slightly higher today with about 19 million changing hands. | Ambev S.A. (NYSE:ABEV) stock is gaining slightly today with some 28 million shares on the move. The electric vehicle company’s daily average trading volume is69.6 million shares. That includes what they need to know about TD Holdings (NASDAQ:GLG), FibroGen (NASDAQ:FGEN), and Liquid Media (NASDAQ:YVR) today. | Ambev S.A. (NYSE:ABEV) stock is gaining slightly today with some 28 million shares on the move. InvestorPlace - Stock Market News, Stock Advice & Trading Tips We’re about halfway through trading today and that means it’s time for a midday market update. 7 of the Best Contrarian Stocks to Buy as Others Get Greedy Market Update: The Most Active Stocks AMC Entertainment (NYSE:AMC) stock starts us off with shares heading over 5% higher as some 72 million units traded. | Ambev S.A. (NYSE:ABEV) stock is gaining slightly today with some 28 million shares on the move. 7 of the Best Contrarian Stocks to Buy as Others Get Greedy Market Update: The Most Active Stocks AMC Entertainment (NYSE:AMC) stock starts us off with shares heading over 5% higher as some 72 million units traded. General Electric (NYSE:GE) stock is seeing shares jump slightly higher today with about 19 million changing hands. |
28237.0 | 2021-07-16 00:00:00 UTC | First Week of September 17th Options Trading For Ambev | ABEV | https://www.nasdaq.com/articles/first-week-of-september-17th-options-trading-for-ambev-2021-07-16 | nan | nan | Investors in Ambev SA (Symbol: ABEV) saw new options begin trading this week, for the September 17th expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the ABEV options chain for the new September 17th contracts and identified the following call contract of particular interest.
The call contract at the $3.50 strike price has a current bid of 15 cents. If an investor was to purchase shares of ABEV stock at the current price level of $3.38/share, and then sell-to-open that call contract as a "covered call," they are committing to sell the stock at $3.50. Considering the call seller will also collect the premium, that would drive a total return (excluding dividends, if any) of 7.99% if the stock gets called away at the September 17th expiration (before broker commissions). Of course, a lot of upside could potentially be left on the table if ABEV shares really soar, which is why looking at the trailing twelve month trading history for Ambev SA, as well as studying the business fundamentals becomes important. Below is a chart showing ABEV's trailing twelve month trading history, with the $3.50 strike highlighted in red:
Considering the fact that the $3.50 strike represents an approximate 4% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 54%. On our website under the contract detail page for this contract, Stock Options Channel will track those odds over time to see how they change and publish a chart of those numbers (the trading history of the option contract will also be charted). Should the covered call contract expire worthless, the premium would represent a 4.44% boost of extra return to the investor, or 25.71% annualized, which we refer to as the YieldBoost.
The implied volatility in the call contract example above is 54%.
Meanwhile, we calculate the actual trailing twelve month volatility (considering the last 252 trading day closing values as well as today's price of $3.38) to be 43%. For more put and call options contract ideas worth looking at, visit StockOptionsChannel.com.
Top YieldBoost Calls of the S&P 500 »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Of course, a lot of upside could potentially be left on the table if ABEV shares really soar, which is why looking at the trailing twelve month trading history for Ambev SA, as well as studying the business fundamentals becomes important. Below is a chart showing ABEV's trailing twelve month trading history, with the $3.50 strike highlighted in red: Considering the fact that the $3.50 strike represents an approximate 4% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in Ambev SA (Symbol: ABEV) saw new options begin trading this week, for the September 17th expiration. | Of course, a lot of upside could potentially be left on the table if ABEV shares really soar, which is why looking at the trailing twelve month trading history for Ambev SA, as well as studying the business fundamentals becomes important. Below is a chart showing ABEV's trailing twelve month trading history, with the $3.50 strike highlighted in red: Considering the fact that the $3.50 strike represents an approximate 4% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in Ambev SA (Symbol: ABEV) saw new options begin trading this week, for the September 17th expiration. | If an investor was to purchase shares of ABEV stock at the current price level of $3.38/share, and then sell-to-open that call contract as a "covered call," they are committing to sell the stock at $3.50. Below is a chart showing ABEV's trailing twelve month trading history, with the $3.50 strike highlighted in red: Considering the fact that the $3.50 strike represents an approximate 4% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in Ambev SA (Symbol: ABEV) saw new options begin trading this week, for the September 17th expiration. | At Stock Options Channel, our YieldBoost formula has looked up and down the ABEV options chain for the new September 17th contracts and identified the following call contract of particular interest. Below is a chart showing ABEV's trailing twelve month trading history, with the $3.50 strike highlighted in red: Considering the fact that the $3.50 strike represents an approximate 4% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in Ambev SA (Symbol: ABEV) saw new options begin trading this week, for the September 17th expiration. |
28238.0 | 2021-06-29 00:00:00 UTC | After Hours Most Active for Jun 29, 2021 : WMT, SESN, ZGNX, MRIN, AAPL, CVE, V, PCG, GM, ABEV, MBB, CERN | ABEV | https://www.nasdaq.com/articles/after-hours-most-active-for-jun-29-2021-%3A-wmt-sesn-zgnx-mrin-aapl-cve-v-pcg-gm-abev-mbb | nan | nan | The NASDAQ 100 After Hours Indicator is up 3.6 to 14,576.35. The total After hours volume is currently 58,041,615 shares traded.
The following are the most active stocks for the after hours session:
Walmart Inc. (WMT) is +0.15 at $137.45, with 5,050,524 shares traded. As reported by Zacks, the current mean recommendation for WMT is in the "buy range".
Sesen Bio, Inc. (SESN) is +0.06 at $4.72, with 4,640,741 shares traded. As reported by Zacks, the current mean recommendation for SESN is in the "strong buy range".
Zogenix, Inc. (ZGNX) is unchanged at $17.91, with 4,001,538 shares traded. As reported in the last short interest update the days to cover for ZGNX is 10.131527; this calculation is based on the average trading volume of the stock.
Marin Software Incorporated (MRIN) is -1.5201 at $15.78, with 3,987,751 shares traded., following a 52-week high recorded in today's regular session.
Apple Inc. (AAPL) is +0.1091 at $136.44, with 3,376,913 shares traded. As reported by Zacks, the current mean recommendation for AAPL is in the "buy range".
Cenovus Energy Inc (CVE) is unchanged at $9.44, with 3,012,811 shares traded. As reported by Zacks, the current mean recommendation for CVE is in the "buy range".
Visa Inc. (V) is unchanged at $235.95, with 2,687,123 shares traded. As reported by Zacks, the current mean recommendation for V is in the "buy range".
Pacific Gas & Electric Co. (PCG) is +0.01 at $10.11, with 2,289,598 shares traded. PCG's current last sale is 68.54% of the target price of $14.75.
General Motors Company (GM) is +0.02 at $58.85, with 2,267,439 shares traded. As reported by Zacks, the current mean recommendation for GM is in the "buy range".
Ambev S.A. (ABEV) is unchanged at $3.49, with 2,137,176 shares traded. ABEV's current last sale is 120.34% of the target price of $2.9.
iShares MBS ETF (MBB) is +0.0088 at $108.21, with 1,500,873 shares traded. This represents a .28% increase from its 52 Week Low.
Cerner Corporation (CERN) is unchanged at $78.36, with 1,226,790 shares traded. CERN's current last sale is 94.98% of the target price of $82.5.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Ambev S.A. (ABEV) is unchanged at $3.49, with 2,137,176 shares traded. ABEV's current last sale is 120.34% of the target price of $2.9. As reported by Zacks, the current mean recommendation for SESN is in the "strong buy range". | Ambev S.A. (ABEV) is unchanged at $3.49, with 2,137,176 shares traded. ABEV's current last sale is 120.34% of the target price of $2.9. The total After hours volume is currently 58,041,615 shares traded. | Ambev S.A. (ABEV) is unchanged at $3.49, with 2,137,176 shares traded. ABEV's current last sale is 120.34% of the target price of $2.9. The total After hours volume is currently 58,041,615 shares traded. | Ambev S.A. (ABEV) is unchanged at $3.49, with 2,137,176 shares traded. ABEV's current last sale is 120.34% of the target price of $2.9. The following are the most active stocks for the after hours session: |
28239.0 | 2021-06-24 00:00:00 UTC | After Hours Most Active for Jun 24, 2021 : WISH, GSK, MRIN, ABEV, PCG, AAPL, ELAN, AJAX, VZ, INTC, GRUB, CSCO | ABEV | https://www.nasdaq.com/articles/after-hours-most-active-for-jun-24-2021-%3A-wish-gsk-mrin-abev-pcg-aapl-elan-ajax-vz-intc | nan | nan | The NASDAQ 100 After Hours Indicator is up 1.58 to 14,367.54. The total After hours volume is currently 63,690,244 shares traded.
The following are the most active stocks for the after hours session:
ContextLogic Inc. (WISH) is +0.24 at $14.63, with 6,831,675 shares traded. As reported by Zacks, the current mean recommendation for WISH is in the "buy range".
GlaxoSmithKline PLC (GSK) is unchanged at $39.70, with 6,035,997 shares traded. GSK's current last sale is 85.38% of the target price of $46.5.
Marin Software Incorporated (MRIN) is -0.11 at $3.40, with 4,892,281 shares traded.
Ambev S.A. (ABEV) is unchanged at $3.64, with 4,306,583 shares traded. ABEV's current last sale is 125.52% of the target price of $2.9.
Pacific Gas & Electric Co. (PCG) is unchanged at $10.00, with 3,907,465 shares traded. PCG's current last sale is 67.8% of the target price of $14.75.
Apple Inc. (AAPL) is -0.11 at $133.30, with 3,662,277 shares traded. As reported by Zacks, the current mean recommendation for AAPL is in the "buy range".
Elanco Animal Health Incorporated (ELAN) is unchanged at $34.99, with 2,267,275 shares traded. ELAN's current last sale is 90.88% of the target price of $38.5.
Ajax I (AJAX) is unchanged at $10.00, with 2,250,000 shares traded.
Verizon Communications Inc. (VZ) is +0.02 at $56.39, with 2,107,050 shares traded. VZ's current last sale is 88.11% of the target price of $64.
Intel Corporation (INTC) is unchanged at $56.07, with 1,574,381 shares traded. INTC's current last sale is 86.26% of the target price of $65.
Just Eat Takeaway.com N.V. (GRUB) is +0.17 at $18.49, with 1,377,340 shares traded. As reported in the last short interest update the days to cover for GRUB is 45.207932; this calculation is based on the average trading volume of the stock.
Cisco Systems, Inc. (CSCO) is -0.03 at $52.75, with 1,161,385 shares traded. As reported by Zacks, the current mean recommendation for CSCO is in the "buy range".
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Ambev S.A. (ABEV) is unchanged at $3.64, with 4,306,583 shares traded. ABEV's current last sale is 125.52% of the target price of $2.9. As reported by Zacks, the current mean recommendation for AAPL is in the "buy range". | Ambev S.A. (ABEV) is unchanged at $3.64, with 4,306,583 shares traded. ABEV's current last sale is 125.52% of the target price of $2.9. The total After hours volume is currently 63,690,244 shares traded. | Ambev S.A. (ABEV) is unchanged at $3.64, with 4,306,583 shares traded. ABEV's current last sale is 125.52% of the target price of $2.9. The total After hours volume is currently 63,690,244 shares traded. | Ambev S.A. (ABEV) is unchanged at $3.64, with 4,306,583 shares traded. ABEV's current last sale is 125.52% of the target price of $2.9. As reported by Zacks, the current mean recommendation for AAPL is in the "buy range". |
28240.0 | 2021-06-23 00:00:00 UTC | After Hours Most Active for Jun 23, 2021 : PM, OPENW, ABEV, VCLT, AGTC, V, PCG, NOV, BAC, AAPL, BCRX, PDD | ABEV | https://www.nasdaq.com/articles/after-hours-most-active-for-jun-23-2021-%3A-pm-openw-abev-vclt-agtc-v-pcg-nov-bac-aapl-bcrx | nan | nan | The NASDAQ 100 After Hours Indicator is down -.56 to 14,273.68. The total After hours volume is currently 75,603,566 shares traded.
The following are the most active stocks for the after hours session:
Philip Morris International Inc (PM) is unchanged at $100.05, with 5,083,253 shares traded. As reported by Zacks, the current mean recommendation for PM is in the "buy range".
Opendoor Technologies Inc (OPENW) is -0.3 at $6.10, with 3,800,000 shares traded.
Ambev S.A. (ABEV) is +0.01 at $3.60, with 3,678,110 shares traded. ABEV's current last sale is 124.14% of the target price of $2.9.
Vanguard Long-Term Corporate Bond ETF (VCLT) is -0.0651 at $105.90, with 2,595,170 shares traded. This represents a 7.66% increase from its 52 Week Low.
Applied Genetic Technologies Corporation (AGTC) is +0.62 at $4.79, with 2,087,993 shares traded. As reported by Zacks, the current mean recommendation for AGTC is in the "strong buy range".
Visa Inc. (V) is +0.01 at $234.69, with 1,652,056 shares traded. As reported by Zacks, the current mean recommendation for V is in the "buy range".
Pacific Gas & Electric Co. (PCG) is unchanged at $10.05, with 1,576,924 shares traded. PCG's current last sale is 68.14% of the target price of $14.75.
NOV Inc. (NOV) is +0.02 at $15.08, with 1,319,911 shares traded. NOV's current last sale is 88.71% of the target price of $17.
Bank of America Corporation (BAC) is -0.01 at $40.19, with 1,280,764 shares traded. As reported by Zacks, the current mean recommendation for BAC is in the "buy range".
Apple Inc. (AAPL) is -0.05 at $133.65, with 1,165,787 shares traded. As reported by Zacks, the current mean recommendation for AAPL is in the "buy range".
BioCryst Pharmaceuticals, Inc. (BCRX) is unchanged at $16.99, with 1,045,819 shares traded. As reported by Zacks, the current mean recommendation for BCRX is in the "buy range".
Pinduoduo Inc. (PDD) is unchanged at $121.61, with 1,013,373 shares traded. As reported by Zacks, the current mean recommendation for PDD is in the "buy range".
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Ambev S.A. (ABEV) is +0.01 at $3.60, with 3,678,110 shares traded. ABEV's current last sale is 124.14% of the target price of $2.9. Philip Morris International Inc (PM) is unchanged at $100.05, with 5,083,253 shares traded. | Ambev S.A. (ABEV) is +0.01 at $3.60, with 3,678,110 shares traded. ABEV's current last sale is 124.14% of the target price of $2.9. As reported by Zacks, the current mean recommendation for PM is in the "buy range". | Ambev S.A. (ABEV) is +0.01 at $3.60, with 3,678,110 shares traded. ABEV's current last sale is 124.14% of the target price of $2.9. The total After hours volume is currently 75,603,566 shares traded. | Ambev S.A. (ABEV) is +0.01 at $3.60, with 3,678,110 shares traded. ABEV's current last sale is 124.14% of the target price of $2.9. The NASDAQ 100 After Hours Indicator is down -.56 to 14,273.68. |
28241.0 | 2021-06-22 00:00:00 UTC | After Hours Most Active for Jun 22, 2021 : VICI, ABEV, PAA, AAPL, MET, BAC, CSCO, HWM, FCEL, LUMN, SESN, MSFT | ABEV | https://www.nasdaq.com/articles/after-hours-most-active-for-jun-22-2021-%3A-vici-abev-paa-aapl-met-bac-csco-hwm-fcel-lumn | nan | nan | The NASDAQ 100 After Hours Indicator is up 7.21 to 14,277.63. The total After hours volume is currently 81,520,607 shares traded.
The following are the most active stocks for the after hours session:
VICI Properties Inc. (VICI) is unchanged at $31.90, with 3,810,128 shares traded. As reported by Zacks, the current mean recommendation for VICI is in the "buy range".
Ambev S.A. (ABEV) is +0.02 at $3.68, with 3,669,892 shares traded. ABEV's current last sale is 126.9% of the target price of $2.9.
Plains All American Pipeline, L.P. (PAA) is unchanged at $11.60, with 3,279,639 shares traded. As reported by Zacks, the current mean recommendation for PAA is in the "buy range".
Apple Inc. (AAPL) is -0.02 at $133.96, with 2,761,107 shares traded. As reported by Zacks, the current mean recommendation for AAPL is in the "buy range".
MetLife, Inc. (MET) is +0.08 at $59.35, with 2,612,107 shares traded. MET's current last sale is 83.59% of the target price of $71.
Bank of America Corporation (BAC) is +0.01 at $39.98, with 2,458,481 shares traded. As reported by Zacks, the current mean recommendation for BAC is in the "buy range".
Cisco Systems, Inc. (CSCO) is +0.08 at $53.34, with 2,208,261 shares traded. As reported by Zacks, the current mean recommendation for CSCO is in the "buy range".
Howmet Aerospace Inc. (HWM) is unchanged at $33.81, with 1,985,610 shares traded. As reported by Zacks, the current mean recommendation for HWM is in the "strong buy range".
FuelCell Energy, Inc. (FCEL) is +0.05 at $9.40, with 1,967,433 shares traded. FCEL's current last sale is 98.95% of the target price of $9.5.
Lumen Technologies, Inc. (LUMN) is +0.02 at $14.05, with 1,944,084 shares traded. LUMN's current last sale is 117.08% of the target price of $12.
Sesen Bio, Inc. (SESN) is -0.03 at $4.11, with 1,852,138 shares traded. As reported by Zacks, the current mean recommendation for SESN is in the "strong buy range".
Microsoft Corporation (MSFT) is +0.07 at $265.58, with 1,650,100 shares traded., following a 52-week high recorded in today's regular session.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Ambev S.A. (ABEV) is +0.02 at $3.68, with 3,669,892 shares traded. ABEV's current last sale is 126.9% of the target price of $2.9. As reported by Zacks, the current mean recommendation for HWM is in the "strong buy range". | Ambev S.A. (ABEV) is +0.02 at $3.68, with 3,669,892 shares traded. ABEV's current last sale is 126.9% of the target price of $2.9. As reported by Zacks, the current mean recommendation for VICI is in the "buy range". | Ambev S.A. (ABEV) is +0.02 at $3.68, with 3,669,892 shares traded. ABEV's current last sale is 126.9% of the target price of $2.9. The total After hours volume is currently 81,520,607 shares traded. | Ambev S.A. (ABEV) is +0.02 at $3.68, with 3,669,892 shares traded. ABEV's current last sale is 126.9% of the target price of $2.9. As reported by Zacks, the current mean recommendation for AAPL is in the "buy range". |
28242.0 | 2021-06-22 00:00:00 UTC | First Week of August 20th Options Trading For Ambev (ABEV) | ABEV | https://www.nasdaq.com/articles/first-week-of-august-20th-options-trading-for-ambev-abev-2021-06-22 | nan | nan | Investors in Ambev SA (Symbol: ABEV) saw new options begin trading this week, for the August 20th expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the ABEV options chain for the new August 20th contracts and identified one put and one call contract of particular interest.
The put contract at the $3.50 strike price has a current bid of 10 cents. If an investor was to sell-to-open that put contract, they are committing to purchase the stock at $3.50, but will also collect the premium, putting the cost basis of the shares at $3.40 (before broker commissions). To an investor already interested in purchasing shares of ABEV, that could represent an attractive alternative to paying $3.64/share today.
Because the $3.50 strike represents an approximate 4% discount to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the put contract would expire worthless. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 62%. Stock Options Channel will track those odds over time to see how they change, publishing a chart of those numbers on our website under the contract detail page for this contract. Should the contract expire worthless, the premium would represent a 2.86% return on the cash commitment, or 17.68% annualized — at Stock Options Channel we call this the YieldBoost.
Below is a chart showing the trailing twelve month trading history for Ambev SA, and highlighting in green where the $3.50 strike is located relative to that history:
Turning to the calls side of the option chain, the call contract at the $4.00 strike price has a current bid of 5 cents. If an investor was to purchase shares of ABEV stock at the current price level of $3.64/share, and then sell-to-open that call contract as a "covered call," they are committing to sell the stock at $4.00. Considering the call seller will also collect the premium, that would drive a total return (excluding dividends, if any) of 11.26% if the stock gets called away at the August 20th expiration (before broker commissions). Of course, a lot of upside could potentially be left on the table if ABEV shares really soar, which is why looking at the trailing twelve month trading history for Ambev SA, as well as studying the business fundamentals becomes important. Below is a chart showing ABEV's trailing twelve month trading history, with the $4.00 strike highlighted in red:
Considering the fact that the $4.00 strike represents an approximate 10% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 67%. On our website under the contract detail page for this contract, Stock Options Channel will track those odds over time to see how they change and publish a chart of those numbers (the trading history of the option contract will also be charted). Should the covered call contract expire worthless, the premium would represent a 1.37% boost of extra return to the investor, or 8.50% annualized, which we refer to as the YieldBoost.
The implied volatility in the put contract example is 55%, while the implied volatility in the call contract example is 48%.
Meanwhile, we calculate the actual trailing twelve month volatility (considering the last 252 trading day closing values as well as today's price of $3.64) to be 44%. For more put and call options contract ideas worth looking at, visit StockOptionsChannel.com.
Top YieldBoost Calls of the S&P 500 »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Of course, a lot of upside could potentially be left on the table if ABEV shares really soar, which is why looking at the trailing twelve month trading history for Ambev SA, as well as studying the business fundamentals becomes important. Below is a chart showing ABEV's trailing twelve month trading history, with the $4.00 strike highlighted in red: Considering the fact that the $4.00 strike represents an approximate 10% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in Ambev SA (Symbol: ABEV) saw new options begin trading this week, for the August 20th expiration. | Below is a chart showing ABEV's trailing twelve month trading history, with the $4.00 strike highlighted in red: Considering the fact that the $4.00 strike represents an approximate 10% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in Ambev SA (Symbol: ABEV) saw new options begin trading this week, for the August 20th expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the ABEV options chain for the new August 20th contracts and identified one put and one call contract of particular interest. | Below is a chart showing ABEV's trailing twelve month trading history, with the $4.00 strike highlighted in red: Considering the fact that the $4.00 strike represents an approximate 10% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in Ambev SA (Symbol: ABEV) saw new options begin trading this week, for the August 20th expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the ABEV options chain for the new August 20th contracts and identified one put and one call contract of particular interest. | At Stock Options Channel, our YieldBoost formula has looked up and down the ABEV options chain for the new August 20th contracts and identified one put and one call contract of particular interest. Below is a chart showing ABEV's trailing twelve month trading history, with the $4.00 strike highlighted in red: Considering the fact that the $4.00 strike represents an approximate 10% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in Ambev SA (Symbol: ABEV) saw new options begin trading this week, for the August 20th expiration. |
28243.0 | 2021-06-21 00:00:00 UTC | After Hours Most Active for Jun 21, 2021 : TWO, TAL, PM, ABEV, BAC, PFE | ABEV | https://www.nasdaq.com/articles/after-hours-most-active-for-jun-21-2021-%3A-two-tal-pm-abev-bac-pfe-2021-06-21 | nan | nan | The NASDAQ 100 After Hours Indicator is down -1.48 to 14,135.75. The total After hours volume is currently 80,162,975 shares traded.
The following are the most active stocks for the after hours session:
Two Harbors Investments Corp (TWO) is -0.01 at $8.00, with 31,362,650 shares traded., following a 52-week high recorded in today's regular session.
TAL Education Group (TAL) is +0.03 at $23.28, with 5,785,121 shares traded. TAL's current last sale is 33.26% of the target price of $70.
Philip Morris International Inc (PM) is +0.17 at $100.33, with 5,532,027 shares traded. As reported by Zacks, the current mean recommendation for PM is in the "buy range".
Ambev S.A. (ABEV) is unchanged at $3.72, with 5,221,565 shares traded. ABEV's current last sale is 128.28% of the target price of $2.9.
Bank of America Corporation (BAC) is +0.05 at $39.80, with 3,123,517 shares traded. As reported by Zacks, the current mean recommendation for BAC is in the "buy range".
Pfizer, Inc. (PFE) is unchanged at $39.42, with 2,396,154 shares traded. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Sep 2021. The consensus EPS forecast is $1.01. PFE's current last sale is 93.86% of the target price of $42.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Ambev S.A. (ABEV) is unchanged at $3.72, with 5,221,565 shares traded. ABEV's current last sale is 128.28% of the target price of $2.9. Two Harbors Investments Corp (TWO) is -0.01 at $8.00, with 31,362,650 shares traded., following a 52-week high recorded in today's regular session. | Ambev S.A. (ABEV) is unchanged at $3.72, with 5,221,565 shares traded. ABEV's current last sale is 128.28% of the target price of $2.9. TAL's current last sale is 33.26% of the target price of $70. | Ambev S.A. (ABEV) is unchanged at $3.72, with 5,221,565 shares traded. ABEV's current last sale is 128.28% of the target price of $2.9. The total After hours volume is currently 80,162,975 shares traded. | Ambev S.A. (ABEV) is unchanged at $3.72, with 5,221,565 shares traded. ABEV's current last sale is 128.28% of the target price of $2.9. The NASDAQ 100 After Hours Indicator is down -1.48 to 14,135.75. |
28244.0 | 2021-06-17 00:00:00 UTC | After Hours Most Active for Jun 17, 2021 : KBWB, GRUB, SESN, ABEV, M, FOLD, GFI, AAPL, MSFT, PINS, OTIS, BAC | ABEV | https://www.nasdaq.com/articles/after-hours-most-active-for-jun-17-2021-%3A-kbwb-grub-sesn-abev-m-fold-gfi-aapl-msft-pins | nan | nan | The NASDAQ 100 After Hours Indicator is up 15.28 to 14,179.09. The total After hours volume is currently 84,938,609 shares traded.
The following are the most active stocks for the after hours session:
Invesco KBW Bank ETF (KBWB) is +0.338 at $63.45, with 7,505,065 shares traded. This represents a 79.33% increase from its 52 Week Low.
Just Eat Takeaway.com N.V. (GRUB) is unchanged at $17.78, with 4,954,640 shares traded., following a 52-week high recorded in today's regular session.
Sesen Bio, Inc. (SESN) is unchanged at $4.50, with 4,635,578 shares traded., following a 52-week high recorded in today's regular session.
Ambev S.A. (ABEV) is -0.01 at $3.76, with 3,703,928 shares traded. ABEV's current last sale is 129.66% of the target price of $2.9.
Macy's Inc (M) is unchanged at $18.13, with 3,412,649 shares traded. Over the last four weeks they have had 5 up revisions for the earnings forecast, for the fiscal quarter ending Jul 2021. The consensus EPS forecast is $0.13. M's current last sale is 100.72% of the target price of $18.
Amicus Therapeutics, Inc. (FOLD) is unchanged at $10.20, with 2,710,276 shares traded. As reported in the last short interest update the days to cover for FOLD is 10.902717; this calculation is based on the average trading volume of the stock.
Gold Fields Limited (GFI) is +0.0079 at $9.37, with 2,270,975 shares traded. GFI's current last sale is 79.22% of the target price of $11.825.
Apple Inc. (AAPL) is -0.04 at $131.75, with 2,193,237 shares traded. As reported by Zacks, the current mean recommendation for AAPL is in the "buy range".
Microsoft Corporation (MSFT) is -0.1 at $260.80, with 2,183,411 shares traded. MSFT's current last sale is 89.93% of the target price of $290.
Pinterest, Inc. (PINS) is -0.04 at $73.10, with 2,000,507 shares traded. As reported by Zacks, the current mean recommendation for PINS is in the "buy range".
Otis Worldwide Corporation (OTIS) is unchanged at $80.47, with 1,837,341 shares traded. As reported by Zacks, the current mean recommendation for OTIS is in the "buy range".
Bank of America Corporation (BAC) is -0.01 at $39.79, with 1,732,498 shares traded. As reported by Zacks, the current mean recommendation for BAC is in the "buy range".
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Ambev S.A. (ABEV) is -0.01 at $3.76, with 3,703,928 shares traded. ABEV's current last sale is 129.66% of the target price of $2.9. Just Eat Takeaway.com N.V. (GRUB) is unchanged at $17.78, with 4,954,640 shares traded., following a 52-week high recorded in today's regular session. | Ambev S.A. (ABEV) is -0.01 at $3.76, with 3,703,928 shares traded. ABEV's current last sale is 129.66% of the target price of $2.9. The total After hours volume is currently 84,938,609 shares traded. | Ambev S.A. (ABEV) is -0.01 at $3.76, with 3,703,928 shares traded. ABEV's current last sale is 129.66% of the target price of $2.9. The total After hours volume is currently 84,938,609 shares traded. | ABEV's current last sale is 129.66% of the target price of $2.9. Ambev S.A. (ABEV) is -0.01 at $3.76, with 3,703,928 shares traded. The following are the most active stocks for the after hours session: |
28245.0 | 2021-05-25 00:00:00 UTC | After Hours Most Active for May 25, 2021 : ZNGA, AMC, VIPS, ABEV, BAC, IGF, AES, GM, INTC, AAPL, FLEX, TLT | ABEV | https://www.nasdaq.com/articles/after-hours-most-active-for-may-25-2021-%3A-znga-amc-vips-abev-bac-igf-aes-gm-intc-aapl-flex | nan | nan | The NASDAQ 100 After Hours Indicator is up 2.68 to 13,660.41. The total After hours volume is currently 73,587,599 shares traded.
The following are the most active stocks for the after hours session:
Zynga Inc. (ZNGA) is -0.03 at $10.49, with 4,259,373 shares traded. As reported by Zacks, the current mean recommendation for ZNGA is in the "buy range".
AMC Entertainment Holdings, Inc. (AMC) is +0.01 at $16.42, with 3,843,834 shares traded. AMC's current last sale is 410.5% of the target price of $4.
Vipshop Holdings Limited (VIPS) is unchanged at $23.05, with 2,539,101 shares traded. As reported by Zacks, the current mean recommendation for VIPS is in the "buy range".
Ambev S.A. (ABEV) is unchanged at $3.30, with 2,472,146 shares traded. ABEV's current last sale is 113.79% of the target price of $2.9.
Bank of America Corporation (BAC) is +0.03 at $42.04, with 2,436,055 shares traded. As reported by Zacks, the current mean recommendation for BAC is in the "buy range".
iShares Global Infrastructure ETF (IGF) is +0.0699 at $46.92, with 2,390,000 shares traded. This represents a 25.69% increase from its 52 Week Low.
The AES Corporation (AES) is -0.18 at $25.16, with 2,200,063 shares traded. As reported by Zacks, the current mean recommendation for AES is in the "strong buy range".
General Motors Company (GM) is +0.24 at $57.00, with 2,172,747 shares traded. As reported by Zacks, the current mean recommendation for GM is in the "buy range".
Intel Corporation (INTC) is unchanged at $56.87, with 2,159,001 shares traded. INTC's current last sale is 84.88% of the target price of $67.
Apple Inc. (AAPL) is +0.06 at $126.96, with 1,914,392 shares traded. Over the last four weeks they have had 8 up revisions for the earnings forecast, for the fiscal quarter ending Jun 2021. The consensus EPS forecast is $0.97. As reported by Zacks, the current mean recommendation for AAPL is in the "buy range".
Flex Ltd. (FLEX) is unchanged at $17.76, with 1,498,147 shares traded. As reported by Zacks, the current mean recommendation for FLEX is in the "buy range".
iShares 20+ Year Treasury Bond ETF (TLT) is +0.08 at $139.54, with 1,405,498 shares traded. This represents a 4.77% increase from its 52 Week Low.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Ambev S.A. (ABEV) is unchanged at $3.30, with 2,472,146 shares traded. ABEV's current last sale is 113.79% of the target price of $2.9. As reported by Zacks, the current mean recommendation for AES is in the "strong buy range". | Ambev S.A. (ABEV) is unchanged at $3.30, with 2,472,146 shares traded. ABEV's current last sale is 113.79% of the target price of $2.9. As reported by Zacks, the current mean recommendation for ZNGA is in the "buy range". | Ambev S.A. (ABEV) is unchanged at $3.30, with 2,472,146 shares traded. ABEV's current last sale is 113.79% of the target price of $2.9. The total After hours volume is currently 73,587,599 shares traded. | Ambev S.A. (ABEV) is unchanged at $3.30, with 2,472,146 shares traded. ABEV's current last sale is 113.79% of the target price of $2.9. The NASDAQ 100 After Hours Indicator is up 2.68 to 13,660.41. |
28246.0 | 2021-05-24 00:00:00 UTC | After Hours Most Active for May 24, 2021 : ABEV, TWTR, ZNGA, EPRT, F, MPC, UAA, QCOM, AAPL, CSCO, FLEX, MSFT | ABEV | https://www.nasdaq.com/articles/after-hours-most-active-for-may-24-2021-%3A-abev-twtr-znga-eprt-f-mpc-uaa-qcom-aapl-csco | nan | nan | The NASDAQ 100 After Hours Indicator is up 6.48 to 13,648.23. The total After hours volume is currently 61,371,104 shares traded.
The following are the most active stocks for the after hours session:
Ambev S.A. (ABEV) is unchanged at $3.33, with 5,739,084 shares traded. ABEV's current last sale is 114.83% of the target price of $2.9.
Twitter, Inc. (TWTR) is -0.15 at $56.91, with 3,892,519 shares traded. TWTR's current last sale is 87.55% of the target price of $65.
Zynga Inc. (ZNGA) is -0.06 at $10.33, with 3,281,318 shares traded. As reported by Zacks, the current mean recommendation for ZNGA is in the "buy range".
Essential Properties Realty Trust, Inc. (EPRT) is unchanged at $25.15, with 2,349,856 shares traded. As reported by Zacks, the current mean recommendation for EPRT is in the "buy range".
Ford Motor Company (F) is +0.04 at $13.10, with 2,258,065 shares traded. As reported by Zacks, the current mean recommendation for F is in the "buy range".
Marathon Petroleum Corporation (MPC) is unchanged at $60.73, with 2,254,331 shares traded. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Sep 2021. The consensus EPS forecast is $0.9. As reported by Zacks, the current mean recommendation for MPC is in the "buy range".
Under Armour, Inc. (UAA) is unchanged at $21.29, with 2,204,273 shares traded. Over the last four weeks they have had 10 up revisions for the earnings forecast, for the fiscal quarter ending Jun 2021. The consensus EPS forecast is $0.04. UAA's current last sale is 81.88% of the target price of $26.
QUALCOMM Incorporated (QCOM) is unchanged at $132.91, with 1,692,972 shares traded. Over the last four weeks they have had 4 up revisions for the earnings forecast, for the fiscal quarter ending Jun 2021. The consensus EPS forecast is $1.26. As reported by Zacks, the current mean recommendation for QCOM is in the "buy range".
Apple Inc. (AAPL) is -0.04 at $127.06, with 1,686,928 shares traded. Over the last four weeks they have had 8 up revisions for the earnings forecast, for the fiscal quarter ending Jun 2021. The consensus EPS forecast is $0.97. As reported by Zacks, the current mean recommendation for AAPL is in the "buy range".
Cisco Systems, Inc. (CSCO) is -0.01 at $53.38, with 1,540,683 shares traded. As reported by Zacks, the current mean recommendation for CSCO is in the "buy range".
Flex Ltd. (FLEX) is unchanged at $18.10, with 1,482,283 shares traded. As reported by Zacks, the current mean recommendation for FLEX is in the "buy range".
Microsoft Corporation (MSFT) is +0.11 at $250.89, with 1,260,751 shares traded. Over the last four weeks they have had 12 up revisions for the earnings forecast, for the fiscal quarter ending Jun 2021. The consensus EPS forecast is $1.9. MSFT's current last sale is 86.51% of the target price of $290.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Ambev S.A. (ABEV) is unchanged at $3.33, with 5,739,084 shares traded. ABEV's current last sale is 114.83% of the target price of $2.9. Over the last four weeks they have had 10 up revisions for the earnings forecast, for the fiscal quarter ending Jun 2021. | Ambev S.A. (ABEV) is unchanged at $3.33, with 5,739,084 shares traded. ABEV's current last sale is 114.83% of the target price of $2.9. Over the last four weeks they have had 10 up revisions for the earnings forecast, for the fiscal quarter ending Jun 2021. | Ambev S.A. (ABEV) is unchanged at $3.33, with 5,739,084 shares traded. ABEV's current last sale is 114.83% of the target price of $2.9. As reported by Zacks, the current mean recommendation for AAPL is in the "buy range". | Ambev S.A. (ABEV) is unchanged at $3.33, with 5,739,084 shares traded. ABEV's current last sale is 114.83% of the target price of $2.9. The NASDAQ 100 After Hours Indicator is up 6.48 to 13,648.23. |
28247.0 | 2021-05-14 00:00:00 UTC | After Hours Most Active for May 14, 2021 : AZPN, AVNS, ABEV, AAPL, GE, INTC, PFE, SU, ENB, ACWI, QQQ, AEGN | ABEV | https://www.nasdaq.com/articles/after-hours-most-active-for-may-14-2021-%3A-azpn-avns-abev-aapl-ge-intc-pfe-su-enb-acwi-qqq | nan | nan | The NASDAQ 100 After Hours Indicator is up 4.89 to 13,398.01. The total After hours volume is currently 68,804,944 shares traded.
The following are the most active stocks for the after hours session:
Aspen Technology, Inc. (AZPN) is -0.11 at $145.90, with 4,996,058 shares traded. As reported by Zacks, the current mean recommendation for AZPN is in the "buy range".
Avanos Medical, Inc. (AVNS) is unchanged at $39.98, with 4,499,846 shares traded. AVNS's current last sale is 79.96% of the target price of $50.
Ambev S.A. (ABEV) is unchanged at $3.31, with 3,860,012 shares traded. ABEV's current last sale is 118.21% of the target price of $2.8.
Apple Inc. (AAPL) is +0.04 at $127.49, with 3,408,867 shares traded. Over the last four weeks they have had 8 up revisions for the earnings forecast, for the fiscal quarter ending Jun 2021. The consensus EPS forecast is $0.97. As reported by Zacks, the current mean recommendation for AAPL is in the "buy range".
General Electric Company (GE) is -0.01 at $13.25, with 2,949,617 shares traded. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Jun 2021. The consensus EPS forecast is $0.04. GE's current last sale is 115.22% of the target price of $11.5.
Intel Corporation (INTC) is unchanged at $55.35, with 2,344,013 shares traded. INTC's current last sale is 82.61% of the target price of $67.
Pfizer, Inc. (PFE) is unchanged at $40.02, with 2,275,348 shares traded. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Jun 2021. The consensus EPS forecast is $0.96. PFE's current last sale is 95.29% of the target price of $42.
Suncor Energy Inc. (SU) is unchanged at $23.23, with 2,030,383 shares traded. As reported by Zacks, the current mean recommendation for SU is in the "buy range".
Enbridge Inc (ENB) is +0.02 at $38.97, with 2,015,180 shares traded. As reported by Zacks, the current mean recommendation for ENB is in the "buy range".
iShares MSCI ACWI Index Fund (ACWI) is unchanged at $99.08, with 1,980,009 shares traded. This represents a 50.65% increase from its 52 Week Low.
Invesco QQQ Trust, Series 1 (QQQ) is +0.24 at $326.63, with 1,497,159 shares traded. This represents a 51.22% increase from its 52 Week Low.
Aegion Corp (AEGN) is -0.01 at $29.98, with 1,287,014 shares traded. AEGN's current last sale is 103.38% of the target price of $29.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Jun 2021. Ambev S.A. (ABEV) is unchanged at $3.31, with 3,860,012 shares traded. ABEV's current last sale is 118.21% of the target price of $2.8. | Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Jun 2021. Ambev S.A. (ABEV) is unchanged at $3.31, with 3,860,012 shares traded. ABEV's current last sale is 118.21% of the target price of $2.8. | Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Jun 2021. Ambev S.A. (ABEV) is unchanged at $3.31, with 3,860,012 shares traded. ABEV's current last sale is 118.21% of the target price of $2.8. | Ambev S.A. (ABEV) is unchanged at $3.31, with 3,860,012 shares traded. ABEV's current last sale is 118.21% of the target price of $2.8. The NASDAQ 100 After Hours Indicator is up 4.89 to 13,398.01. |
28248.0 | 2021-05-12 00:00:00 UTC | After Hours Most Active for May 12, 2021 : ABEV, BABA, CSPR, GNW, BAC, CNP | ABEV | https://www.nasdaq.com/articles/after-hours-most-active-for-may-12-2021-%3A-abev-baba-cspr-gnw-bac-cnp-2021-05-12 | nan | nan | The NASDAQ 100 After Hours Indicator is down -13.79 to 12,987.84. The total After hours volume is currently 84,500,315 shares traded.
The following are the most active stocks for the after hours session:
Ambev S.A. (ABEV) is unchanged at $3.22, with 5,179,402 shares traded. ABEV's current last sale is 115% of the target price of $2.8.
Alibaba Group Holding Limited (BABA) is unchanged at $219.90, with 3,624,601 shares traded.BABA is scheduled to provide an earnings report on 5/13/2021, for the fiscal quarter ending Mar2021. The consensus earnings per share forecast is 1.47 per share, which represents a 90 percent increase over the EPS one Year Ago
Casper Sleep Inc. (CSPR) is -0.04 at $9.65, with 2,832,048 shares traded.CSPR is scheduled to provide an earnings report on 5/13/2021, for the fiscal quarter ending Mar2021. The consensus earnings per share forecast is -0.55 per share, which represents a -123 percent increase over the EPS one Year Ago
Genworth Financial Inc (GNW) is unchanged at $3.85, with 2,055,456 shares traded.
Bank of America Corporation (BAC) is unchanged at $41.18, with 1,860,958 shares traded. Over the last four weeks they have had 6 up revisions for the earnings forecast, for the fiscal quarter ending Jun 2021. The consensus EPS forecast is $0.76. As reported by Zacks, the current mean recommendation for BAC is in the "buy range".
CenterPoint Energy, Inc. (CNP) is unchanged at $23.65, with 1,304,849 shares traded. CNP's current last sale is 96.53% of the target price of $24.5.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Ambev S.A. (ABEV) is unchanged at $3.22, with 5,179,402 shares traded. ABEV's current last sale is 115% of the target price of $2.8. Alibaba Group Holding Limited (BABA) is unchanged at $219.90, with 3,624,601 shares traded.BABA is scheduled to provide an earnings report on 5/13/2021, for the fiscal quarter ending Mar2021. | Ambev S.A. (ABEV) is unchanged at $3.22, with 5,179,402 shares traded. ABEV's current last sale is 115% of the target price of $2.8. Alibaba Group Holding Limited (BABA) is unchanged at $219.90, with 3,624,601 shares traded.BABA is scheduled to provide an earnings report on 5/13/2021, for the fiscal quarter ending Mar2021. | Ambev S.A. (ABEV) is unchanged at $3.22, with 5,179,402 shares traded. ABEV's current last sale is 115% of the target price of $2.8. Alibaba Group Holding Limited (BABA) is unchanged at $219.90, with 3,624,601 shares traded.BABA is scheduled to provide an earnings report on 5/13/2021, for the fiscal quarter ending Mar2021. | Ambev S.A. (ABEV) is unchanged at $3.22, with 5,179,402 shares traded. ABEV's current last sale is 115% of the target price of $2.8. The NASDAQ 100 After Hours Indicator is down -13.79 to 12,987.84. |
28249.0 | 2021-05-11 00:00:00 UTC | After Hours Most Active for May 11, 2021 : FUBO, GE, ABEV, VONG, XM, CSCO, GM, VIAC, SESN, PFE, WMG, SPNV | ABEV | https://www.nasdaq.com/articles/after-hours-most-active-for-may-11-2021-%3A-fubo-ge-abev-vong-xm-csco-gm-viac-sesn-pfe-wmg | nan | nan | The NASDAQ 100 After Hours Indicator is down -15.93 to 13,335.34. The total After hours volume is currently 73,712,790 shares traded.
The following are the most active stocks for the after hours session:
fuboTV Inc. (FUBO) is +2.84 at $20.51, with 5,734,776 shares traded. Business Wire Reports: fuboTV Announces Proposed Offering of $350 Million of Convertible Senior Notes Due 2026
General Electric Company (GE) is -0.02 at $13.07, with 5,670,100 shares traded. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Jun 2021. The consensus EPS forecast is $0.04. GE's current last sale is 113.65% of the target price of $11.5.
Ambev S.A. (ABEV) is unchanged at $3.27, with 4,534,981 shares traded., following a 52-week high recorded in today's regular session.
Vanguard Russell 1000 Growth ETF (VONG) is -0.02 at $64.50, with 2,975,000 shares traded. This represents a 48.32% increase from its 52 Week Low.
Qualtrics International Inc. (XM) is -0.27 at $32.98, with 2,687,925 shares traded. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Jun 2021. The consensus EPS forecast is $-0.44. As reported by Zacks, the current mean recommendation for XM is in the "buy range".
Cisco Systems, Inc. (CSCO) is unchanged at $52.83, with 1,836,587 shares traded. As reported by Zacks, the current mean recommendation for CSCO is in the "buy range".
General Motors Company (GM) is -0.02 at $55.71, with 1,773,513 shares traded. As reported by Zacks, the current mean recommendation for GM is in the "buy range".
ViacomCBS Inc. (VIAC) is +0.55 at $40.03, with 1,749,417 shares traded. VIAC's current last sale is 81.69% of the target price of $49.
Sesen Bio, Inc. (SESN) is +0.01 at $2.50, with 1,735,164 shares traded. As reported by Zacks, the current mean recommendation for SESN is in the "strong buy range".
Pfizer, Inc. (PFE) is unchanged at $39.35, with 1,709,539 shares traded. Over the last four weeks they have had 4 up revisions for the earnings forecast, for the fiscal quarter ending Jun 2021. The consensus EPS forecast is $0.96. PFE's current last sale is 93.69% of the target price of $42.
Warner Music Group Corp. (WMG) is unchanged at $35.79, with 1,542,028 shares traded. WMG's current last sale is 94.18% of the target price of $38.
Supernova Partners Acquisition Company, Inc. (SPNV) is unchanged at $9.90, with 1,492,306 shares traded.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Ambev S.A. (ABEV) is unchanged at $3.27, with 4,534,981 shares traded., following a 52-week high recorded in today's regular session. Business Wire Reports: fuboTV Announces Proposed Offering of $350 Million of Convertible Senior Notes Due 2026 Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Jun 2021. | Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Jun 2021. Ambev S.A. (ABEV) is unchanged at $3.27, with 4,534,981 shares traded., following a 52-week high recorded in today's regular session. Over the last four weeks they have had 4 up revisions for the earnings forecast, for the fiscal quarter ending Jun 2021. | Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Jun 2021. Ambev S.A. (ABEV) is unchanged at $3.27, with 4,534,981 shares traded., following a 52-week high recorded in today's regular session. Over the last four weeks they have had 4 up revisions for the earnings forecast, for the fiscal quarter ending Jun 2021. | Ambev S.A. (ABEV) is unchanged at $3.27, with 4,534,981 shares traded., following a 52-week high recorded in today's regular session. The NASDAQ 100 After Hours Indicator is down -15.93 to 13,335.34. As reported by Zacks, the current mean recommendation for XM is in the "buy range". |
28250.0 | 2021-05-07 00:00:00 UTC | Companhia de Bebidas das Americas (ABEV) Q1 2021 Earnings Call Transcript | ABEV | https://www.nasdaq.com/articles/companhia-de-bebidas-das-americas-abev-q1-2021-earnings-call-transcript-2021-05-07 | nan | nan | Image source: The Motley Fool.
Companhia de Bebidas das Americas (NYSE: ABEV)
Q1 2021 Earnings Call
May 06, 2021, 11:30 a.m. ET
Contents:
Prepared Remarks
Questions and Answers
Call Participants
Prepared Remarks:
Operator
Good morning, and thank you for waiting. I would like to welcome everyone to Ambev's first-quarter 2021 results conference call. Today with us, we have Mr. Jean Jereissati, CEO for Ambev; and Mr.
Lucas Lira, CFO and investor relations officer. As a reminder, a slide presentation is available for downloading on our website, ri.ambev.com.br, as well as through the webcast link of this call. [Operator instructions] Before proceeding, let me mention that forward-looking statements are being made under the safe harbor of Securities Litigation Reform Act of 1996. Forward-looking statements are based on the beliefs and assumptions of Ambev's management and on information currently available to the company.
They involve risks, uncertainties and assumptions because they relate to future events and therefore depend on circumstances that may or may not occur in the future. Investors should understand that general economic conditions, industry conditions and other operating factors could also affect the future results of Ambev and could cause results to differ materially from those expressed in such forward-looking statements. I would also like to remind everyone that, as usual, the percentage changes that will be discussed during today's call are both organic and normalized in nature. And unless otherwise stated, percentage changes refer to comparisons with first-quarter 2021 results.
Normalized figures refer to performance measures before exceptional items which are either income or expenses that do not occur regularly as part of Ambev's normal activities. As normalized figures are non-GAAP measures, the company discloses the consolidated profit, EPS, EBIT and EBITDA on a fully reported basis in the earnings release. Now I'll turn the conference over to Mr. Jean Jereissati, CEO for Ambev.
Mr. Jereissati, you may begin your conference.
Jean Jereissati -- Chief Executive Officer
Thank you very much for joining our call. In February, I mentioned that 2021 would be a challenging year and COVID-19 pandemic was still very real. After that, we saw a steep deterioration of the sanitary conditions in Brazil, coupled with increased mobility restrictions, which impacted our people, customers, suppliers and consumers. At the same time, we were better prepared this time around.
As a result, we delivered a great start of the year. We grew EBITDA by 23.8%, driven by double-digit volume and double-digit net revenue per hectoliter growth in Brazil, CAC and LAS. Consolidated volumes were 5.4%, above Q1 '19, and we were able to get back to flattish EBITDA versus Q1 2019. This was another quarter we saw clear signs that our commercial strategy is working and that momentum continues.
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I was very happy to see the strong performance of our international operations, and Brazil continues to show that we are in the right path. We delivered volume growth in eight of our 10 markets and market share gains in seven of these markets. We saw a solid net revenue per-hectoliter growth in the quarter, driven by a more flexible and efficient revenue management initiatives, including occasion-based promotional activities. We continued to strengthen our portfolio as we launched innovations across our markets, to name a few, Golden Extra in Panama, Bud Light Seltzer in Canada and Michelob Ultra in the premium segment in Brazil.
LAS delivered strong volume growth in the core plus and premium segments with a great performance of Corona. In Argentina, we had an outstanding volume performance and improved net revenue per hectoliter, delivering top-line growth of 67%. CAC restrictions were partially lifted during the quarter that, combined with the good performance of our above core portfolio and effective revenue management initiatives, delivered a top-line growth of 28%, led by Dominican Republic and Guatemala. Canada gained market share and grew volumes despite a tough comp in Q1 2020.
Growth was led by hard seltzers and the above core beer portfolio with Michelob Ultra and Corona. Brazil Beer volumes grew 16% despite carnival cancellation in February and tougher mobility restrictions imposed in March. According to our estimates, we gained market share while growing volumes in all segments, with a special highlight to our global brands that had a solid high-teens growth and Brahma Duplo Malte that continued its growth momentum. Green health of the portfolio improved once again in all segments this quarter, and our digital initiatives continued to expand.
Ze delivery fulfilled 14 million orders in this quarter, reaching an all-time high in March. Net revenue per-hectoliter growth was strong again. This growth was mainly driven by effective revenue management initiatives. This also had positive impact as it helped to standardize and increase efficiency across our portfolio.
Today, I would like to further focus on BEES, our super app for our customers. We believe that BEES has been important to deliver a strong commercial performance as it digitizes our route to market, enables our customers to place an order in three clicks at any time of the day and offers assortment selections to POCs using algorithms. On top of that, BEES offer other services, such as financial services, scheduled delivery, rewards programs and other products via marketplace, providing a full e-commerce experience to our customers. Since our decision last year to launch BEES in Brazil, we managed to roll it out to all our DDCs and wholesalers.
As a result, we now reach more than 65% of our active customers in Brazil via BEES, accounting for over 550,000 customers. And we generated more than BRL 6.5 billion in GMV. Given this promising early results and to further boost the platform, in March, we announced that menu.com, a start-up marketplace for bars and restaurants that had been accelerated by Z-Tech for the past two years, will be integrated into BEES ecosystem. Today in Brazil, we offer more than 100 SKUs from approximately 31 partners in 380 cities already, reaching more than 5% of our net revenue in some of these locations.
Our platform's scale will open many new opportunities for us to grow together with our customers and our partners. Our digital platforms will be fully connected throughout our operation, integrating with and leveraging on our existing supply chain, logistics and sales capabilities. As our digital transformation evolves, we will enhance each step in our supply chain and become more flexible, efficient and integrated with our partners, customers and consumers, improving our NPS throughout the ecosystem. As for the rest of 2021, our outlook remains unchanged, and we continue to expect a challenging year.
COVID-19 is real and around us, and cost pressures will continue, mainly in Brazil, not only thanks to FX, but also to commodities prices. With that said, I remain very confident in our people, our capabilities and plans for 2021. Overall volumes at Ambev continued its performance in April, and net revenue per-hectoliter performance will remain a focus, especially in Brazil, given the inflationary scenario we are living. We expect our top-line performance should continue to drive our recovery, growing ahead of bottom line as we work to get back in the full year to the normalized consolidated EBITDA of prepandemic levels.
Thank you very much. Thank you for your time and attention. And I will hand this over to Lucas.
Lucas Lira -- Chief Financial Officer and Investor Relations Officer
Thank you, Jean. Hello, everyone. This time last year, our financial performance was marked by declining net revenue, declining EBITDA, declining normalized profit and declining operational cash flow generation. What's worse, we were still in the early days of the COVID-19 pandemic.
What a difference a year makes. In Q1 2021, net revenue grew nearly 28%. EBITDA grew almost 24%, normalized profit grew close to 125%, and operational cash flow grew close to 84%. Brazil Beer performance was strong, and the growth of our international operations was even stronger.
Just to put things into perspective, all these indicators are either at or above 2019 levels in nominal terms. And in terms of outlook, even though COVID-19 is still around, I believe it's fair to say that things are not as gloomy as before. Quite the contrary, we expect recovery to continue as vaccinations pick up. So I'm proud to see that not only have we navigated the crisis well so far, but more importantly, that the commercial momentum we started to build in Q3 2020 has continued to translate into consistent improvement in our financial results quarter after quarter.
We have two big priorities on the finance side, number one, continue to protect liquidity, given the still volatile environment; and number two, improve our return on invested capital. The team has done a great job since last year in terms of protecting our liquidity position, which remains solid in each of our markets while still investing about BRL 1.3 billion in capex in the quarter. Most of this investment was directed toward increasing our brewing and packaging capacity, particularly in Brazil, to support our innovation pipeline. And the second biggest bucket of investment was in technology, such as our ERP integration designed to, among other things, support our B2B and B2C platforms.
And in terms of ROIC, there's a lot of work going into improving resource allocation, as well as improvements in working capital, but there is no doubt that one of our biggest challenges remains the recovery of our profitability. FX headwinds will remain as our biggest hurdle throughout the year, particularly in Q2, whereas one-way package mix and commodity pressures should also be a factor. In addition, cash SG&A was higher in Q1, mainly due to provisions for variable compensation, given the stronger-than-expected start to the year. Since 2020 was a 0-bonus year, should our performance remain on track, provisions for variable compensation should continue to impact our year-over-year SG&A performance going forward.
On the other hand, the stronger-than-expected top-line performance should help offset higher SG&A for the remainder of the year, and we will keep focusing on our productivity initiatives and typical financial discipline regarding costs and expenses management. Yes, we will continue to work hard on improving our profitability, but we will not lose sight of the long term. The sense of urgency is there, but we have to be disciplined and stick to our commercial plan, which, after all, has been working. For us, the name of the game still is continuous and consistent improvement of our results.
We have been on this improvement journey since the second half of 2020, and Q1 was another important step. So there's definitely more to come. Finally, a quick word on ESG. In June, we plan to host a webinar to focus specifically on how we have been working to embed ESG into our company model.
I hope to see you all there. Thank you. And now let's move to Q&A.
Questions & Answers:
Operator
[Operator instructions] Our first question comes from Marcel Moraes with Santander.
Marcel Moraes -- Santander Global Corporate Banking -- Analyst
Good afternoon. Good morning, everyone. Congrats on the impressive results for the first quarter. My question relates to market share trends per segment.
So you mentioned you gain -- especially in Brazil, where you gained share in all segments. Can you give us a little bit of color on the super premium and the premium plus core value segments? What's going on over there?
Jean Jereissati -- Chief Executive Officer
OK. Thank you for the question. So yeah, we feel that our portfolio is much more prepared. We went through a big renovation, launching of new brands, resource allocation, betting on brands that really could drive the future.
And our performance of global brands, specifically, they were quite -- double digits. So it was close to the 20s, and this is what we believe it is the -- above the performance of the premium segment, overall performance. So that's why we mentioned that. We have been investing for a while in Budweiser and in Stella Artois.
And more and more, we are seeing Beck's with a very strong performance, and we are seeing Corona doing very well, too, and Colorado. So these are our top five brands that we are really investing for the future, and they are really doing well. Specifically, Beck's is going triple-digits growth. Corona is going on the 50s, Colorado doing very well on the in-home occasion too, still suffering a little bit in bars, but doing very well on the from the off street.
And on top of that, we -- on top of market share, something that we are looking a lot now is really equity of our brand that we really have to push equity ahead of market share, push to make the pool and to build brand equity. And brand equity of premium brands are really moving much faster than the market share and than our plan. So that's an important KPI for us that we are very confident.
Marcel Moraes -- Santander Global Corporate Banking -- Analyst
Jean, what about the core segment? Any color on that?
Jean Jereissati -- Chief Executive Officer
Yeah. So the core segment since the beginning of the pandemic, I have been -- that was information that I brought to you all that the core has been very resilient. And we've been really reorganizing our portfolio, creating the core plus segment, really launching pack innovation and different packs on the core segment. And after years of volume decline, our core segment was really marked by resilience with Brahma, Skol, and Antarctica families growing by high single digits.
So this is the combination of the RGB 300 ml bottles that we are really focusing during the pandemic as the pack that moms and pops and bars can do the delivery, can do the takeaway. So it's an important part that's really accelerating the core brands. And on top of that, the normal price strategy that we have been following. So core brands really bounced back.
On top of that, the core plus segment, there is Brahma Duplo Malte. That's Bohemian. They are really on fire.
Marcel Moraes -- Santander Global Corporate Banking -- Analyst
OK. Thank you very much.
Operator
The next question comes from Carlos Laboy with HSBC.
Carlos Laboy -- HSBC -- Analyst
Yes. Good afternoon, everybody. Congratulations on really strong results. I'm wondering, what have you learned about Brahma Duplo Malte through this period? And how do you drive that brand going forward? What consumer insights have you gleaned as you sit back and reflect on everything you've learned here for what's next there?
Jean Jereissati -- Chief Executive Officer
OK. So thank you for the question, Laboy. Brahma Duplo Malte, we stated that was really the brand that -- the product that we took one year to develop. It was really, really tested with all the consumer sites.
So we had that mindset of really get superiority on all the analysis that we were doing, comparing with the core and really get inspired by another categories like, for example, whiskey that has the double malt, the single malt and everything. It was amazing how the Brazilian consumer got -- sticked with the concept of Duplo Malte or two malts that they combined. And we were able really to develop a liquid that it really calls attention on the mouth and on the eyes because it's really creamy and has a mouth -- a great mouth taste. And all this process has been like for one year, we've been doing that.
And then we decide really to, first, to bet on the flagship brand. So we are really talking about Brahma, that had Chopp Brahma, Brahma Duplo Malte and Brahma under the family umbrella. So we are really -- Brahma is the brand and Brahma Duplo Malte is the flagship product. And we went bold on that.
So we really got -- in terms of resource allocation. So we picked the passion point, the Brazilian passion point that's more relevant for Brazil today. We have two, football and country music. We connected Brahma Duplo Malte with these, both important passion point that we had.
And we have been able to work as a family. And the good news is that Brahma is peaking back and is growing together with Brahma Duplo Malte that at some point in time we would think about some type of cannibalization, but the whole assembly is really moving up and we are very excited about it.
Carlos Laboy -- HSBC -- Analyst
Thank you.
Operator
The next question comes from Rob Ottenstein with Ernst Young.
Rob Ottenstein -- Ernst & Young Global Limited
Robert Ottenstein with Evercore. Thank you very much, and congratulations to -- for a great start of the year. A couple of sort of follow-up housekeeping items. Number one, it looks to us, Lucas, that you didn't reiterate the guidance on the COGS being up 20%.
Is that correct? Or am I missing something? So that's number one. Two, just a follow-up on the Brahma Duplo Malte and that is I believe that got launched last year, biggest innovation you've had. Where are the comps toughest for you on that launch? So just kind of two housekeeping items there. And then kind of the bigger-picture question is how do you see the Beyond Beer market and business developing for you? It was a big theme for Brito on the ABI call today.
Obviously, a lot of interesting stuff going on, on that side in Brazil. Love to get a little bit more detail on your thoughts on that as well.
Jean Jereissati -- Chief Executive Officer
OK. So thank you for the question, Robert. So yes, about the cash costs, our guidance was in low 20s for Brazil Beer, for the full year. This -- so this quarter, we had higher than the full year, but it was already expected given the curve of the hedges that we have in Brazil.
For Q2, we will continue to see cash COGS above the full-year guidance for the same reason, but we are not making any changes to this guidance, OK? So this is one thing. The second thing, it is Brahma Duplo Malte. Let me give you a higher view on that. So what we are aiming is really to have a pipeline of innovation that really can transform my portfolio in the future, and it's already been transforming the company.
So one KPI that I looked big time, it is what is the percentage of my net revenue that comes from products that did not exist three years ago. So it was -- this number was 5% in 2018. It went to 10% in 2019, and we reached 20% in 2021. And we are looking at this number for us to continue this trajectory with a strong view about where -- what are the spaces, what we want really to create.
It's not just about any type of innovation. So we have a framework with five avenues that we want to launch and maintain this momentum of 20% of our net revenue coming from products that didn't exist three years ago. So we have -- so one more information. So the tough comps of Brahma Duplo Malte, the peak, it was really the Q3, where it was really the moment that we are freight loading and putting everything on the market.
And -- but what we see is that this number of innovation, overall, it should not change. This 20% that I want to go move it forward. So we have a pipeline that they are coming. So Brahma Duplo Malte still has some geographical rollout in some new packaging -- packages, new occasions for us to work on that.
And there is one important product on the core plus side that we have been piloting, and we are very excited, and it's really coming to the rollout phase right now, that is one international brand. Having said that, Beyond Beer, it's really something that we are into it we are very excited about our Beats brand in the partnership with Fundita. We just launched it. We launched GT under Beats, and then we launched Beats Zodiac.
And there is a family of brands that they are very accretive, very incremental, doing very well. And we have three or four pilots happening right now for us to learn and decide where to launch. So we are testing our sales. We are in the pilot phase.
We are testing Mike's Hard Lemonade. There is something that is a little bit with this Juic'd and natural points. And we are testing the FEMSA cocktails in cans. So there are -- in Beyond Beer, we have like four avenues that we are on full speed on Beats, and we are on the pilot phases on the other three.
Lucas Lira -- Chief Financial Officer and Investor Relations Officer
And then just to add something here on our international operations, Robert. Beyond Beer is already a reality in Canada, for instance, and the quarter showed very good results yet again from our Beyond Beer portfolio, not only thanks to Nutrl, right, which we partnered with last year and showed consistent growth throughout last year. But in the quarter, we launched in Canada, Bud Light Seltzer. Early days, but off to a very good start as well.
So I think that's one additional benefit that we have to be able to learn from the Canadian operations and roll out these learnings to other Ambev markets.
Jean Jereissati -- Chief Executive Officer
To give a little bit more information, Robert. So you know that we acquired a winery in Argentina last year to build and have the capabilities of play with grapes, with winery. So it's a business that in Argentina now is growing 16%, 16, 1-6, compared with what we bought. And now we are really building the capability of putting wines in cans and really testing this across the board in South America.
Rob Ottenstein -- Ernst & Young Global Limited
Terrific. Thank you very much.
Operator
The next question comes from Thiago Duarte with BTG Pactual.
Thiago Duarte -- BTG Pactual -- Analyst
Thank you. Good afternoon, everybody. I have two questions on the revenue per hectoliter in Beer Brazil and then a third question on brand portfolio. So the first question is, can you talk a little bit more about how you manage the decision on the discounts in the Brazilian beer division? Since the third quarter last year, we've seen discounts coming down considerably.
It's certainly been an important push to revenue per-hectoliter growth. So I'm just wondering how you -- what were the conditions that allow you to more aggressively cut back those discounts during the pandemic when it comes to channel, package and the competition changes that the pandemic brought to the business? So I think it would be interesting to hear. The second question is if we -- as we look into the revenue per-hectoliter growth in Brazil Beer, 12.6% year over year. Can you help us break it down in terms of some of the impacts that you had on a year-over-year basis? I'm specifically looking to hear in terms of the impact of the Carnival or the lack of Carnival this year and the digital initiatives such as Ze Delivery and BEES would be nice as well.
And the third question, Jean, you mentioned in your opening remarks that the brand health of the portfolio has improved across the whole portfolio. So if you can elaborate a little bit more on what sort of metrics you're looking at when you make that statement, and how your brand preferences stack up against market share in each segment, that would be interesting, too.
Jean Jereissati -- Chief Executive Officer
OK. So let me -- give me one minute for me to kind of put this on the paper for me to -- I lost track of the points.
Lucas Lira -- Chief Financial Officer and Investor Relations Officer
The second one is breakdown by driver. Net revenue per-hectoliter beer. And the third one is brand portfolio, elaborate power versus shift by segment.
Jean Jereissati -- Chief Executive Officer
So if I miss some of the questions, we go over it, OK? So yes. So for a while, I've been mentioning previous quarters that over the long run, overall prices should grow in line with inflation. And there we are talking big time here on shelf prices. And then plus and minus, you have efficiencies on discounts.
You have brand and channel mix, and then we have the impact of our portfolio strategy, mainly through innovation, OK? So these are things that we break down prices like that. And we have been much more flexible, nimble, agile in terms of revenue management to react to market conditions. So we are in the middle of a pandemic still. So channels are really changing different, what's growing, so transformation going on that you have to support.
And so we really went deep on revenue management. And specifically, this piece of discount I think some things happen. First of all, BEES is helping us big time, OK? So granular, we have a big chunk of our volumes already through BEES. You have like better algorithms.
We have better price trees because everything is really digitized and centralized. So it's really -- creates a framework, a easy framework for us to really understand the listing and the discounts and everything. So this is one thing. Second thing, we are more linear because of that, OK? So we are kind of more less concentrated and preparing for everybody to have some access to the return in terms of discount.
So we are trying to get this a little bit with more standards, and we were able to make it. So we really moved this vision of a lot of discounts to trade in to a much more discounts connected with sellout and connected with occasions, OK? So we are really with a strategy where, for example, Brahma Duplo Malte, so the promotions should be correlated with Barb Q, and it should be the discount in this specific occasion in all -- for all the products. So we are really narrowing the brand building and expanding occasions and giving discounts on that direction. That is helping us to be much more effective, OK? So these three things, I would say that they were the drivers for us to really upgrade our discount management and our discount efficiencies, OK? So talking about brands, talking about the brand.
So the metric that we are really looking into it is really power. So it's a combination. So it's a proxy of -- it's more than preference because it's a combination of -- it's a proxy for the market share of the future, OK? And we have a big portfolio and we decided to kind of really elect inside this portfolio, which are the brands that we are really concentrate efforts for the long-term for them really to become, to become leaders. And we are with the strategy of really concentrating and bet on some brands and we have been able -- we need to drive the brands that we believe that they will win in the future big time.
So it's -- we are very excited that Brahma Duplo Malte is doing very well. It's bringing Brahma together. We are excited that Skol kind of stabilized at some point. I mentioned this in terms of volumes.
We understand it in terms of on the brand side, too. And then we have the premium business, as I mentioned before. So the combination of the five brands that I have, they are really moving ahead of my market share. So really Beck's is doing very well, Colorado is doing very well, Corona.
So when we put these things, all these things together -- so with a total portfolio of ABI is gaining in this metric that we are looking there is power with the focus brands really gaining even more. And in the brands that were suffering the past they are kind of stabilizing. So this is the type of equation on the equity that we are seeing in the market.
Lucas Lira -- Chief Financial Officer and Investor Relations Officer
And then, Thiago, and this is valid across segments and also, if you look at the film since last year and not only the quarter performance, right, I mean, brand building takes time, right, requires consistency. And one of the things that we're seeing is really this gradual, right, improvement in our brand power across segments for the portfolio ever since last year.
Thiago Duarte -- BTG Pactual -- Analyst
Perfect. That's very helpful. And Jean, just one part of one of my questions. Is it fair to say that Carnival should have had an impact in terms of how you translate revenue per hectoliter on a year-over-year basis?
Jean Jereissati -- Chief Executive Officer
So if I had Carnival, I would have a net revenue debt to equity that was smaller than that. So that's the question?
Thiago Duarte -- BTG Pactual -- Analyst
Yes.
Jean Jereissati -- Chief Executive Officer
Let me see. I think if I had Carnival, I would have a mix of packaging that it was worse than what I have today because it's more concentrated on weekends. So I don't see an impact on the pricing side. If I had Carnival, I would have something around 1 million hectoliters of cans selling in the market.
I think that's how we should approach Carnival.
Thiago Duarte -- BTG Pactual -- Analyst
Yes. That's a good exercise.
Jean Jereissati -- Chief Executive Officer
That's about price and more about packaging mix.
Thiago Duarte -- BTG Pactual -- Analyst
Thank you.
Operator
The next question comes from Marcella Recchia with Credit Suisse.
Marcella Recchia -- Credit Suisse -- Analyst
Hi, Jean. Hi, Lucas. Thank you for taking the questions. I have two questions.
First, it's about pricing. Listening Brito at ABI conference call earlier, he mentioned about price increase for Brazil Beer in June. So my first question is, if you could elaborate a bit on your pricing tensions and the magnitude over the coming quarters, in light of recent commodity cost pressure, but also in light of the commodity cost outlook next year. That will be my first question before -- I will wait before moving to the second one.
Jean Jereissati -- Chief Executive Officer
So Brito mentioned that, Marcella, and as we have been mentioned in previous quarter. Look, over the long run, overall prices should grow in line with inflation. And I'm talking pretty much about shelf prices. And then on top of that, you have the discount and then you have plus and minus brand and channel.
But there is this reference of shelves that on the long term, should grow with inflation, and you know that we have been very flexible, nimble and agile in a way to react to market conditions, where we can go and move back or it can stick. So we are really taking every opportunity that we can, but it's really something that is very fluid. And so having said that, I would say that we cannot comment on pricing moving forward. I would just comment that this scenario that we are living in Brazil is a more inflationary scenario that we have to understand that got worse than we had in the past.
And looking here, look, I'm really looking to the consumer. I'm not looking for my -- specifically for my costs. My cost, I already -- my COGS, cash COGS, I gave the guidance already. I'm talking really about the basket of the consumer and the inflation that we have over there and how we are -- we get better prepared for them, OK? So I cannot comment much further than that, just that we are in an inflationary scenario that end of the year, inflation was smaller than it was right now.
And we have to find a way to adjust to it.
Marcella Recchia -- Credit Suisse -- Analyst
Got it. And my second question is about the SG&A. You mentioned on the outlook for this year and also in the call, that you expect higher SG&A because of the bonus provision, right? So just to understand if you can comment something about the outlook of this increase for this line this year, if you -- what can we expect on that?
Lucas Lira -- Chief Financial Officer and Investor Relations Officer
Yes. Marcella, this is Lucas. Thanks for the question. So for SG&A, in Q1, the biggest impact was indeed the provision for bonus, OK, based on our stronger-than-expected performance to start the year.
Should we remain on track or ahead of our expectations from a budget perspective, we will continue to accrue bonus provisions throughout the remainder of the year. So that -- it's reasonable to expect some additional, right, higher SG&A as a result, OK? The second biggest impact that we are seeing so far this year is regarding distribution expenses, and that's mostly a function of volume growth, right? So as volumes grow, our variable logistics cost also tends to grow. The good news there is that there is a benefit in the top line and the net -- it's a net positive at the end of the day, OK? So the higher SG&A in the distribution side is compensated, is offset by the improvement in net revenues. And finally, the third bucket is sales and marketing.
In Q1, there was lower sales and marketing versus last year, but this was mostly due to phasing, particularly in Brazil, as a result of the restrictions that came back in March. So we obviously had to adjust our sales and marketing spend, given that restrictions were in place. So going forward, as we recover, as cities reopen and the on-trade recovers, we are going to adjust our sales and marketing spend accordingly, OK?
Marcella Recchia -- Credit Suisse -- Analyst
OK. Thank you so much.
Operator
The next question comes from Lucas Ferreira with J.P. Morgan.
Lucas Ferreira -- J.P. Morgan -- Analyst
Hi. Good afternoon. Congrats on the strong results. I have two 2 questions.
Sorry if they are kind of too technical around your forward-looking statements. The first one, you guys mentioned that you already kind of envisioned turning to the prepandemic EBITDA, right? So assuming the 2019 number, for instance, but I assume that your profitability will still be back up. My question is, is there anything structural that you see in the industry in the recession, the cost structure of the industry that -- in the company that would impair you to come back to the prepandemic profitability. So in 2019 guidance, EBITDA margin of roughly 42%.
So is there anything that you guys think that would be impairing you to return to this level? And if for some reason, considering the pricing power, considering the reopen that you're seeing right now, you kind of already envisioned that this could be seen at some point -- at some point in time in the foreseeable future. So that's my first question. The second question is around the same topic. And looking at the second half of the year, if you guys are reiterating the guidance for the cost per hectoliter, I would assume that your kind of COGS curve is more skewed to the first half of the year, considering you COGS per hectoliter is up at 25% this quarter.
So in terms of, let's say, margin comps, are you seeing an easier second half than first half?
Jean Jereissati -- Chief Executive Officer
Yes. So let me tackle this one, and then Lucas can help me. So we are in the middle of a pandemic, OK? So this is -- I think this is what we should talk about. Since the beginning of last year, when we saw the scenario of bars shutting down, bars closed, mobility restrictions at some extent, sometimes more, sometimes less.
So all these things happening, we brought -- so we went to this vision of transforming the company toward the future. Accelerate the things that we have been cooking during the pandemic, but really accelerate toward the future. And I've been mentioning that -- so I want to really recover top line on fee. And I really wanted to recover volumes for the big volumes that we had in 2014 that we lost 10 million hectoliters from that point on.
And we are being very consistent on that since looking for new occasions, the consumers. I'm now having 100,000 more customers that I had before. We were very happy to develop this relax-at-home occasion with our brands. That's something really the future now is something.
That's more developed and mature markets. So we were really with this mindset of let's get back in fee for the top line that we had at some point in time and really less follow the consumer, OK? So what I mentioned today, it is that. So we are confident on that. We are very proud about the things that we achieved on the top line side.
We see momentum. I think it's time for us to go back and say, look, so if the -- for the recovery of the bottom line. So where -- when would we make it? And what I mentioned it is time for us to look of the bottom line that we had before the pandemic and magic. So I really don't see nothing structural that will not make us in this journey continue to converge the top-line growth with the bottom-line growth.
But in terms of the perspective of the pandemic and with this journey, we really decided to do one first -- one big thing first and then the other. The next step will really be to talk about margin expansions. The good news is that really, if you look at how we are -- one big part that we are suffering with this margin contraction is really the currencies. And if you look at -- we are, in 50% of my costs, they are in dollars with FX related.
And in the currency that I have in 2021, I mentioned that before, it's 530 I'm hedged this year. This connects with that guidance that I gave of low 20s in cash COGS. So it's 529 to be more specific, the FX that I have today, if you look at the market today. So this is exactly the FX that we have today.
So looks like this problem that I'm having today is kind of stabilized on this level of 529 that is already in my base. So I don't see on the FX side, exactly, nothing more structural than that. We could decide to hedge everything on that. And then I would not have a problem with that, but nothing that I'm going to do.
And then we have the commodities that really picked up in the short term, but we really have to understand how these things are going to evolve moving forward. The other piece is that really, as I mentioned, we understand this inflationary scenario. We have been nimble and agile for us really to get all the opportunities that we have, and really guarantee the momentum of our top line moving forward.
Lucas Ferreira -- J.P. Morgan -- Analyst
Sorry to insist on the second point that you see the second-half margin comp side here, considering your new level of prices and considering the COGS guidance kind of more skewed to the first half.
Lucas Lira -- Chief Financial Officer and Investor Relations Officer
Yes. So Lucas, as I mentioned in my opening remarks, in terms of cash COGS per hectoliter for Brazil Beer, right, which is the guidance, we anticipate that the pressure will be greater, right, in Q2, OK, followed by kind of less pressure in the second half of the year, OK? If you take a step back and look at the rest of the P&L, right, just if we go back to our performance during 2020 right? I think it's -- you can see that recovery driven by the top line was very strong in the second half of 2020, which means that we have a tough comp in terms of top line going into the second half of the year. OK? And as I mentioned before, SG&A, we do expect it to be higher, primarily due to the higher provision for variable compensation.
Lucas Ferreira -- J.P. Morgan -- Analyst
Great. Thanks, Lucas.
Operator
The next question comes from Isabella Simonato with Bank of America.
Isabella Simonato -- Bank of America Merrill Lynch -- Analyst
Thank you very much, Jean and Lucas, for the questions. Can you elaborate on the soft drink outlook in Brazil? And also how do you expect cost pressure to come on that line of business this year? And if you could give us a little bit of more color about the quarters as you gave for beer, that would be very helpful. And also on the international part on last, top-line performance has also been quite strong, but the measures in terms of restrictions and etc., have been more volatile, right? How you're seeing the beginning of Q2 and the evolution throughout the year?
Jean Jereissati -- Chief Executive Officer
OK. Thank you for the question. Our net performance volume overall, it was an improvement in Q1 2021. So we have a 0.8% growth.
It's really -- so we are still with a lot of restrictions, an important occasion on the soft drinks, it really is on the go. And so mobility really connects with NAB industry, and we are still limited on that. But even though, we were able to get to slightly positive volumes. The brand is really what Antarctica is coming back, getting performance better than it had before.
So it has been good. Energy drinks, they are doing good, too, when we talk about the full portfolio. And all of these partially offset by the occasions. The mix, there is an important thing for the profitability of soft drinks through the smaller packs, the channels, the on the go in the end was -- it's better than we expected, but it's still not there.
And we believe that will get better as the vaccination move forward and the restrictions go down, OK. So this is NAB. When you talk about CAC, yes, so --
Lucas Lira -- Chief Financial Officer and Investor Relations Officer
LAS.
Jean Jereissati -- Chief Executive Officer
LAS. When we talk about LAS. So LAS was an important quarter for us. It was a great performance, I believe.
So we had -- we felt the restrictions more in Brazil on March. We are feeling restrictions in Chile now, a little bit on Paraguay, too. When we go to Argentina -- so talking overall about LAS. So it was a solid performance on Argentina, Chile, and Paraguay, mainly driven by corporates and premium segments gaining market share in all of these countries, Argentina, Chile and Paraguay.
Bolivia is a place where we feel still under pressure over there, Uruguay, too, but Argentina, Chile and Paraguay with a very good performance. Yes, we saw some restrictions moving forward over there. But as you see, fluid, like the pandemic, it comes and it goes. So we are excited because LAS, we made -- we had some important changes over there.
There is -- Chile is really being, we have a structural change and new combination of partnership with Coke over there. That's really bringing us some different capabilities and possibilities. So it's really something that we are very excited that we are able to gain market share on the own trade segment. That's something that we have been struggling in the past to do, so volumes very strong, very, very excited.
Argentina too, we see the portfolio is really more -- it is stronger. And this year, we were able to be -- to the government and all the things we have been more flexible with more freedom for us to work on the revenue management side on discounts and on everything. So structurally, I believe that I'm really excited about LAS. In a pandemic yes, we saw some restrictions, but it's something that it comes and goes.
It's fluid.
Isabella Simonato -- Bank of America Merrill Lynch -- Analyst
Sure. Thank you.
Operator
The next question comes from João Soares with Citibank.
Joao Soares -- Citi -- Analyst
Hi. Good afternoon, everybody. Thanks for taking my questions. I have two quick questions.
The first one, you had a very interesting discussion on the discount, but it's interesting to see that you're using your online channels to enhance your intelligence, right? And I imagine that, especially through the DTC, you've been gaining a lot of intelligence on the consumer. So if there is anything, Jean, that you could share with us regarding consumer behavior trends, possibly capacity to absorb further price increases and how they connect to the recent trends that you've been seeing, like the fact that brands that suffered in the past are now stabilizing. So anything that connects with the consumer behavior that you can you can share with us would be very, very interesting. So that's my first point.
And the second point, you talked a lot about -- you already talked about the commodity cost pressure. We are already almost halfway through the year. Aluminum prices have been going up. So if you can talk about any initiatives ongoing, apart from the revenue management that you've been doing, to maybe mitigate this potential cost pressure going to next year would be very interesting as well.
Jean Jereissati -- Chief Executive Officer
OK. So let's talk about consumer behavior and revenue management first. So consumer trends. So we are seeing this thing about the in-home consumption.
And so it's really -- so how the whole pandemic was really about how to win in the in-home occasion and consumption. So that was the most important thing for us, too. And I think we reacted very fast, and we had a lot of learnings on that. We know that the occasion in home is more about relaxation.
It's more about Mondays and Tuesdays and frequency much better than before that was very concentrated. And now people is more willing to like watching TV, livestream, relaxing. So this is important that for us to win, you have to connect brands in ROIC market and be profitable on this occasion. So we are working a lot on that.
We know that consumers are convenience. It's convenience, it's everything isn't it. So consumers are really looking for convenience. So they are buying locally.
So they are buying in moms and pops close to their home, in e-commerce, in the delivery. So they are -- moms and pops and bars, they are transforming really to become small takeaway supermarkets of some things. So there is this thing that we are that's, for example, for you to know. So we are betting on the RGB 300 ml bottles as the pack that really can -- that's leading the takeaway occasion for all the bars and moms and pops that they are transforming.
So if they cannot deliver it, they have to have a takeaway strategy. And this strategy is really working very fine because we designed so the pack is a good pack for us to do that. So the price point is designed for that. We are doing most of it -- of the places, six bottles for BRL 12, so it's a good price point for six units that people can take.
The customers are really adopting because they need this takeaway because this pandemic is truly -- they open and close, so they need something for people to take away. So this is something that is really working from our side. So Ze delivery, I don't have to mention again. We have been talking a lot about it.
So it's really about convenience. It is something -- bet on that. We know that there are two occasions that we are developing to. There is this thing about signature beer.
We have another strategy that is the seprecada, where we have like signatures for the whole year. That's same price, that's number of beers every month in your home. So this is -- we have been investing in Brazil. This is exploding in Argentina is really something we've got traction there.
So Ze Delivery is stronger here. Seprecada is stronger in Argentina. So we have to find the value proposition, the prices for that. We are developing apps for pantry-loading parties.
That is not about the Ze Delivery, is about big party that you want a discount for big. So we are really working on these missions and occasions that are enabled by technology for us really to be ahead of the time on that. So all these learnings and all the technology that we have, we are betting big time to be ahead, to be ahead of the game. In talking about offset costs of commodities headwinds? Yes, that really [Technical difficulty] Are we still here? Yes.
So as anticipated, so this year was a year that we faced transactional FX headwinds, given the depreciation of real, 50% of our COGS is dollar rated. And now we are seeing these commodities that is something that is coming to the table. But the things that we are doing are very consistent. And it's really about this do not lose this momentum, the going growth continuity is really something that help us big time sweat the assets and have a better VLC logistic cost and have a better operational leverage when the volumes go up.
So I'm really -- we are really excited about more toward the end of the year, about the vaccination. That is really something that we believe that RGB 600 ml bottles and the socialized out-of-home occasion is really something that will pick back. We are preparing for that. So we think some euphoria we're going to have around that.
If we are -- we have a much broader base of clients. So the prices are well set that we are prepared for when this moment happen. So this innovation strategy that we have that is really like driving mix and prices through new products. So this core plus, the premium portfolio, all these adjacencies.
So Duarte asked here about the Carnival. In Carnival, I sell a lot of that products that we have there is a Beats that is so accretive for the company. So that product is really designed for parties in its kind of -- so this occasion, big parties, outside events is depressed. And we believe that if it doesn't come in Q4, it will come in Q1 of next year.
So this innovation, vision of occasions and missions are helping and will help us big time. And we will not lower the guard. So financial discipline is still there around cost -- around costs, around expenses. So the capex is really about strategic investment.
So we are really concentrating capex on the technology piece, on the footprint for us to really have the better service possible for customer and consumer. So this part here, there is a lot of learning because consumers are really paying for convenience. So they pay in the Ze Delivery. So there, our customers are beginning to pay for more days of delivery as a service.
So we -- so understanding the missions in these demands, we are really being able to have some additional revenue on services, too, OK? So that was pretty much it that I could mention on the commodities mitigation.
Joao Soares -- Citi -- Analyst
Great. Great vision. Thanks for the call.
Jean Jereissati -- Chief Executive Officer
OK. So I think that was the last one, we have one more? That was the last one. I really want to thank, first of all, my team that is here working on Ambev, working for Ambev. So team is working very hard to have this quarter for one year inside the pandemic to achieve these results, to have this great start in a very challenging environment.
I also want to thank you all, the analysts, everyone who joined the call for the time and attention. And to wrap up, I'm really confident about the future for some reason. So we are on the path of a very good commercial momentum. I think this is -- has been confirmed quarter by quarter here with you all.
Not only Brazil, but we are really picking up international operations like Argentina did very well. Chile, we are so excited about Chile. CAC, we are beginning to see that once the vaccination in U.S. is really moving forward.
So this summer in CAC is already the hotels are already booked and everything. So we are really seeing this momentum, not just in Brazil, but international operations. Although transformation, that big bet on technology that we are doing takes time, and the environment remains challenging. We can see contributions of our digital efforts.
So BEES is like bringing a lot of possibilities for us. Ze Delivery is doing great. So we have another effort on that side. This portfolio is stronger.
Our portfolio is much better than it was like two years ago. High-end brands are really gaining equity. Beck's is there. Corona is doing very well.
Colorado, doing very well. Budweiser is a brand very important for us. That's growing, too. So we see brand power.
The core plus segment, it was something that we get it right, and we want to continue to bring new news on that with innovation pipeline. And one thing that we don't talk that much, but cash generation, it is really something that is really structurally solid at Ambev because we have been prepared for that. These channels somehow, they help us on this core working capital. So my cash generation is really solid when you look last three years and this year, and we remain committed to transform the company and invest ahead.
So that's it. Thank you very much. Thank you all, and thank you. Yes.
Just get in touch with Lucas and the team, and then we can continue the conversation.
Operator
[Operator signoff]
Duration: 72 minutes
Call participants:
Jean Jereissati -- Chief Executive Officer
Lucas Lira -- Chief Financial Officer and Investor Relations Officer
Marcel Moraes -- Santander Global Corporate Banking -- Analyst
Carlos Laboy -- HSBC -- Analyst
Rob Ottenstein -- Ernst & Young Global Limited
Thiago Duarte -- BTG Pactual -- Analyst
Marcella Recchia -- Credit Suisse -- Analyst
Lucas Ferreira -- J.P. Morgan -- Analyst
Isabella Simonato -- Bank of America Merrill Lynch -- Analyst
Joao Soares -- Citi -- Analyst
Joo Soares -- Citi -- Analyst
More ABEV analysis
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Companhia de Bebidas das Americas (NYSE: ABEV) Q1 2021 Earnings Call May 06, 2021, 11:30 a.m. Operator [Operator signoff] Duration: 72 minutes Call participants: Jean Jereissati -- Chief Executive Officer Lucas Lira -- Chief Financial Officer and Investor Relations Officer Marcel Moraes -- Santander Global Corporate Banking -- Analyst Carlos Laboy -- HSBC -- Analyst Rob Ottenstein -- Ernst & Young Global Limited Thiago Duarte -- BTG Pactual -- Analyst Marcella Recchia -- Credit Suisse -- Analyst Lucas Ferreira -- J.P. Morgan -- Analyst Isabella Simonato -- Bank of America Merrill Lynch -- Analyst Joao Soares -- Citi -- Analyst Joo Soares -- Citi -- Analyst More ABEV analysis All earnings call transcripts This article is a transcript of this conference call produced for The Motley Fool. CAC restrictions were partially lifted during the quarter that, combined with the good performance of our above core portfolio and effective revenue management initiatives, delivered a top-line growth of 28%, led by Dominican Republic and Guatemala. | Operator [Operator signoff] Duration: 72 minutes Call participants: Jean Jereissati -- Chief Executive Officer Lucas Lira -- Chief Financial Officer and Investor Relations Officer Marcel Moraes -- Santander Global Corporate Banking -- Analyst Carlos Laboy -- HSBC -- Analyst Rob Ottenstein -- Ernst & Young Global Limited Thiago Duarte -- BTG Pactual -- Analyst Marcella Recchia -- Credit Suisse -- Analyst Lucas Ferreira -- J.P. Morgan -- Analyst Isabella Simonato -- Bank of America Merrill Lynch -- Analyst Joao Soares -- Citi -- Analyst Joo Soares -- Citi -- Analyst More ABEV analysis All earnings call transcripts This article is a transcript of this conference call produced for The Motley Fool. Companhia de Bebidas das Americas (NYSE: ABEV) Q1 2021 Earnings Call May 06, 2021, 11:30 a.m. We expect our top-line performance should continue to drive our recovery, growing ahead of bottom line as we work to get back in the full year to the normalized consolidated EBITDA of prepandemic levels. | Operator [Operator signoff] Duration: 72 minutes Call participants: Jean Jereissati -- Chief Executive Officer Lucas Lira -- Chief Financial Officer and Investor Relations Officer Marcel Moraes -- Santander Global Corporate Banking -- Analyst Carlos Laboy -- HSBC -- Analyst Rob Ottenstein -- Ernst & Young Global Limited Thiago Duarte -- BTG Pactual -- Analyst Marcella Recchia -- Credit Suisse -- Analyst Lucas Ferreira -- J.P. Morgan -- Analyst Isabella Simonato -- Bank of America Merrill Lynch -- Analyst Joao Soares -- Citi -- Analyst Joo Soares -- Citi -- Analyst More ABEV analysis All earnings call transcripts This article is a transcript of this conference call produced for The Motley Fool. Companhia de Bebidas das Americas (NYSE: ABEV) Q1 2021 Earnings Call May 06, 2021, 11:30 a.m. The second question is if we -- as we look into the revenue per-hectoliter growth in Brazil Beer, 12.6% year over year. | Operator [Operator signoff] Duration: 72 minutes Call participants: Jean Jereissati -- Chief Executive Officer Lucas Lira -- Chief Financial Officer and Investor Relations Officer Marcel Moraes -- Santander Global Corporate Banking -- Analyst Carlos Laboy -- HSBC -- Analyst Rob Ottenstein -- Ernst & Young Global Limited Thiago Duarte -- BTG Pactual -- Analyst Marcella Recchia -- Credit Suisse -- Analyst Lucas Ferreira -- J.P. Morgan -- Analyst Isabella Simonato -- Bank of America Merrill Lynch -- Analyst Joao Soares -- Citi -- Analyst Joo Soares -- Citi -- Analyst More ABEV analysis All earnings call transcripts This article is a transcript of this conference call produced for The Motley Fool. Companhia de Bebidas das Americas (NYSE: ABEV) Q1 2021 Earnings Call May 06, 2021, 11:30 a.m. I have two questions on the revenue per hectoliter in Beer Brazil and then a third question on brand portfolio. |
28251.0 | 2021-05-06 00:00:00 UTC | Why Ambev Stock Jumped Today | ABEV | https://www.nasdaq.com/articles/why-ambev-stock-jumped-today-2021-05-07 | nan | nan | What happened
Shares of Ambev (NYSE: ABEV) were moving higher today after the Latin American subsidiary of Anheuser-Busch InBev (NYSE: BUD) posted better-than-expected results in its first-quarter earnings report.
As a result, the stock finished Thursday's session up 11.8%.
Image source: Getty Images.
So what
Ambev, which owns a wide range of beer and soft drink brands, said revenue in the quarter rose 27.8% to $3.15 billion, with volume growth of 11.6% and net revenue per hectoliter up 14.5%. That was significantly ahead of the lone analyst forecast at $2.55 billion. The company saw strong growth across much of Latin America, though some markets were impacted by currency fluctuations.
Results were also strong further down the income statement with adjusted EBITDA rising 23.8% to $1.01 billion and earnings per share more than doubling to $0.03. That matched the consensus of two analysts making earnings forecasts.
Eight of the company's top 10 markets delivered growth in the quarter even as it dealt with tightening COVID-19 restrictions in some markets.
Now what
Ambev did not give specific guidance, but the beverage company said it continued to expect uncertainty around the COVID-19 pandemic, which has recently flared again in Brazil. It also expects continued margin pressure in Brazil due to currency exchange rates. Overall, it sees revenue and EBITDA continuing to improve as it works to approach 2019 levels, though that may not happen until the pandemic ends in that part of the world.
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Jeremy Bowman has no position in any of the stocks mentioned. The Motley Fool recommends Anheuser-Busch InBev NV. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | What happened Shares of Ambev (NYSE: ABEV) were moving higher today after the Latin American subsidiary of Anheuser-Busch InBev (NYSE: BUD) posted better-than-expected results in its first-quarter earnings report. Now what Ambev did not give specific guidance, but the beverage company said it continued to expect uncertainty around the COVID-19 pandemic, which has recently flared again in Brazil. Overall, it sees revenue and EBITDA continuing to improve as it works to approach 2019 levels, though that may not happen until the pandemic ends in that part of the world. | What happened Shares of Ambev (NYSE: ABEV) were moving higher today after the Latin American subsidiary of Anheuser-Busch InBev (NYSE: BUD) posted better-than-expected results in its first-quarter earnings report. 10 stocks we like better than Companhia de Bebidas das Americas When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. * David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Companhia de Bebidas das Americas wasn't one of them! | What happened Shares of Ambev (NYSE: ABEV) were moving higher today after the Latin American subsidiary of Anheuser-Busch InBev (NYSE: BUD) posted better-than-expected results in its first-quarter earnings report. 10 stocks we like better than Companhia de Bebidas das Americas When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. See the 10 stocks *Stock Advisor returns as of February 24, 2021 Jeremy Bowman has no position in any of the stocks mentioned. | What happened Shares of Ambev (NYSE: ABEV) were moving higher today after the Latin American subsidiary of Anheuser-Busch InBev (NYSE: BUD) posted better-than-expected results in its first-quarter earnings report. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market. That's right -- they think these 10 stocks are even better buys. |
28252.0 | 2021-05-06 00:00:00 UTC | Thursday Market Update: 10 Most Active Stocks Today | ABEV | https://www.nasdaq.com/articles/thursday-market-update%3A-10-most-active-stocks-today-2021-05-06 | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
We’re near the halfway point through Thursday and that means it’s time for a market update. Today we’re taking a look at the stocks that are seeing the most activity today. We’re seeing a lot of tech stocks on today’s list, which makes sense as they’ve been struggling lately for various reasons.
Source: Shutterstock
However, we aren’t jumping into that just yet. Instead, it’s worth it to look back at what stocks were doing in the pre-market today. That extra context can help understand today’s most active stocks.
7 Hot Stocks to Consider for a Greener Future
Now, let’s dive into the Thursday market update below!
Thursday Market Update
Palantir Technologies (NYSE:PLTR) starts the list off with shares down 5% as 53 million change hands. The company’s daily average trading volume is nearly 80 million shares.
Uber (NYSE:UBER) is up next with shares falling 6.9% and 51 million shares traded. For comparison, the stock’s daily average trading volume is 18.7 million shares.
Ambev (NYSE:ABEV) joins the list with shares up 9.9% and some 46 million shares changing hands. That’s above its daily average trading volume of 21.3 million shares.
Nio (NYSE:NIO) stock is falling 2.2% Thursday as some 94.8 million shares trade. The company’s daily average trading volume is 94.8 million shares.
Apple (NASDAQ:AAPL) marks the halfway point on the list with shares up slightly and more than 44 million traded. For perspective, the stock’s daily average trading volume is 102.2 million shares.
Pfizer (NYSE:PFE) shares are falling nearly 2% as roughly 35 million shares change hands. The stock’s daily average trading volume is 29.9 million shares.
General Electric (NYSE:GE) makes it on the list with shares down slightly and close to 32 million shares changing hands. That’s below its daily average trading volume of 76.2 million shares.
Plug Power (NASDAQ:PLUG) cements its spot on the list with shares falling 7.9% and roughly 30 million trading. That has it approaching its daily average trading volume of 34.2 million shares.
Rocket Companies (NYSE:RKT) next on the list with shares dropping 14.3% as over 28 million shares change hands. That’s above its daily average trading volume of 22.3 million shares.
CBS Corporation (NASDAQ:VIAC) stock closes out the Thursday market update with shares down 2.5% and 27 million shares traded. That’s below its daily average trading volume of 41.7 million shares.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.
The post Thursday Market Update: 10 Most Active Stocks Today appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Ambev (NYSE:ABEV) joins the list with shares up 9.9% and some 46 million shares changing hands. We’re seeing a lot of tech stocks on today’s list, which makes sense as they’ve been struggling lately for various reasons. Thursday Market Update Palantir Technologies (NYSE:PLTR) starts the list off with shares down 5% as 53 million change hands. | Ambev (NYSE:ABEV) joins the list with shares up 9.9% and some 46 million shares changing hands. Nio (NYSE:NIO) stock is falling 2.2% Thursday as some 94.8 million shares trade. General Electric (NYSE:GE) makes it on the list with shares down slightly and close to 32 million shares changing hands. | Ambev (NYSE:ABEV) joins the list with shares up 9.9% and some 46 million shares changing hands. For comparison, the stock’s daily average trading volume is 18.7 million shares. The stock’s daily average trading volume is 29.9 million shares. | Ambev (NYSE:ABEV) joins the list with shares up 9.9% and some 46 million shares changing hands. Pfizer (NYSE:PFE) shares are falling nearly 2% as roughly 35 million shares change hands. General Electric (NYSE:GE) makes it on the list with shares down slightly and close to 32 million shares changing hands. |
28253.0 | 2021-04-23 00:00:00 UTC | After Hours Most Active for Apr 23, 2021 : ABEV, CS, CLF, T, CNP, X | ABEV | https://www.nasdaq.com/articles/after-hours-most-active-for-apr-23-2021-%3A-abev-cs-clf-t-cnp-x-2021-04-23 | nan | nan | The NASDAQ 100 After Hours Indicator is down -7.39 to 13,934.05. The total After hours volume is currently 75,224,757 shares traded.
The following are the most active stocks for the after hours session:
Ambev S.A. (ABEV) is unchanged at $2.92, with 4,462,184 shares traded. ABEV's current last sale is 104.29% of the target price of $2.8.
Credit Suisse Group (CS) is -0.06 at $10.39, with 3,538,403 shares traded. CS's current last sale is 98.95% of the target price of $10.5.
Cleveland-Cliffs Inc. (CLF) is -0.01 at $17.97, with 3,150,580 shares traded. As reported by Zacks, the current mean recommendation for CLF is in the "buy range".
AT&T Inc. (T) is -0.03 at $31.37, with 2,077,001 shares traded. T's current last sale is 104.57% of the target price of $30.
CenterPoint Energy, Inc. (CNP) is unchanged at $24.13, with 2,011,373 shares traded. CNP's current last sale is 98.49% of the target price of $24.5.
United States Steel Corporation (X) is -0.01 at $23.70, with 1,868,519 shares traded.X is scheduled to provide an earnings report on 4/29/2021, for the fiscal quarter ending Mar2021. The consensus earnings per share forecast is 0.91 per share, which represents a -73 percent increase over the EPS one Year Ago
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Ambev S.A. (ABEV) is unchanged at $2.92, with 4,462,184 shares traded. ABEV's current last sale is 104.29% of the target price of $2.8. As reported by Zacks, the current mean recommendation for CLF is in the "buy range". | ABEV's current last sale is 104.29% of the target price of $2.8. Ambev S.A. (ABEV) is unchanged at $2.92, with 4,462,184 shares traded. CS's current last sale is 98.95% of the target price of $10.5. | Ambev S.A. (ABEV) is unchanged at $2.92, with 4,462,184 shares traded. ABEV's current last sale is 104.29% of the target price of $2.8. The total After hours volume is currently 75,224,757 shares traded. | ABEV's current last sale is 104.29% of the target price of $2.8. Ambev S.A. (ABEV) is unchanged at $2.92, with 4,462,184 shares traded. CS's current last sale is 98.95% of the target price of $10.5. |
28254.0 | 2021-04-20 00:00:00 UTC | After Hours Most Active for Apr 20, 2021 : LYG, USB, NFLX, ATRA, MRVL, ABEV, VIAC, TEL, BBBY, CSCO, PCG, RTX | ABEV | https://www.nasdaq.com/articles/after-hours-most-active-for-apr-20-2021-%3A-lyg-usb-nflx-atra-mrvl-abev-viac-tel-bbby-csco | nan | nan | The NASDAQ 100 After Hours Indicator is down -73.16 to 13,736.14. The total After hours volume is currently 84,836,780 shares traded.
The following are the most active stocks for the after hours session:
Lloyds Banking Group Plc (LYG) is -0.0037 at $2.29, with 5,148,215 shares traded. LYG's current last sale is 114.32% of the target price of $2.
U.S. Bancorp (USB) is unchanged at $56.22, with 3,492,939 shares traded. Over the last four weeks they have had 8 up revisions for the earnings forecast, for the fiscal quarter ending Jun 2021. The consensus EPS forecast is $1.07. USB's current last sale is 93.7% of the target price of $60.
Netflix, Inc. (NFLX) is -58.72 at $490.85, with 2,867,357 shares traded. PR Newswire Reports: Netflix Releases Fourth-Quarter 2020 Financial Results
Atara Biotherapeutics, Inc. (ATRA) is unchanged at $13.29, with 2,307,068 shares traded. As reported in the last short interest update the days to cover for ATRA is 14.425215; this calculation is based on the average trading volume of the stock.
Marvell Technology Group Ltd. (MRVL) is -0.74 at $45.10, with 1,917,717 shares traded. As reported by Zacks, the current mean recommendation for MRVL is in the "buy range".
Ambev S.A. (ABEV) is unchanged at $2.84, with 1,857,492 shares traded. ABEV's current last sale is 101.43% of the target price of $2.8.
ViacomCBS Inc. (VIAC) is -0.28 at $37.64, with 1,661,141 shares traded. VIAC's current last sale is 77.61% of the target price of $48.5.
TE Connectivity Ltd. (TEL) is unchanged at $128.39, with 1,609,800 shares traded.TEL is scheduled to provide an earnings report on 4/21/2021, for the fiscal quarter ending Mar2021. The consensus earnings per share forecast is 1.48 per share, which represents a 129 percent increase over the EPS one Year Ago
Bed Bath & Beyond Inc. (BBBY) is unchanged at $25.21, with 1,510,656 shares traded. Over the last four weeks they have had 4 up revisions for the earnings forecast, for the fiscal quarter ending Feb 2022. The consensus EPS forecast is $0.67. BBBY's current last sale is 93.37% of the target price of $27.
Cisco Systems, Inc. (CSCO) is +0.0876 at $51.88, with 1,472,576 shares traded. As reported by Zacks, the current mean recommendation for CSCO is in the "buy range".
Pacific Gas & Electric Co. (PCG) is -0.01 at $11.19, with 1,247,058 shares traded. PCG's current last sale is 79.93% of the target price of $14.
Raytheon Technologies Corporation (RTX) is unchanged at $77.09, with 1,057,033 shares traded. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Mar 2021. The consensus EPS forecast is $0.88. RTX is scheduled to provide an earnings report on 4/27/2021, for the fiscal quarter ending Mar2021. The consensus earnings per share forecast is 0.88 per share, which represents a 178 percent increase over the EPS one Year Ago
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Ambev S.A. (ABEV) is unchanged at $2.84, with 1,857,492 shares traded. ABEV's current last sale is 101.43% of the target price of $2.8. As reported in the last short interest update the days to cover for ATRA is 14.425215; this calculation is based on the average trading volume of the stock. | Ambev S.A. (ABEV) is unchanged at $2.84, with 1,857,492 shares traded. ABEV's current last sale is 101.43% of the target price of $2.8. TE Connectivity Ltd. (TEL) is unchanged at $128.39, with 1,609,800 shares traded.TEL is scheduled to provide an earnings report on 4/21/2021, for the fiscal quarter ending Mar2021. | Ambev S.A. (ABEV) is unchanged at $2.84, with 1,857,492 shares traded. ABEV's current last sale is 101.43% of the target price of $2.8. TE Connectivity Ltd. (TEL) is unchanged at $128.39, with 1,609,800 shares traded.TEL is scheduled to provide an earnings report on 4/21/2021, for the fiscal quarter ending Mar2021. | Ambev S.A. (ABEV) is unchanged at $2.84, with 1,857,492 shares traded. ABEV's current last sale is 101.43% of the target price of $2.8. LYG's current last sale is 114.32% of the target price of $2. |
28255.0 | 2021-04-14 00:00:00 UTC | After Hours Most Active for Apr 14, 2021 : IQ, ABEV, DISCK, DISCA, NLY, INTC, AAPL, AGNC, GM, SLB, ALLY, AJAX | ABEV | https://www.nasdaq.com/articles/after-hours-most-active-for-apr-14-2021-%3A-iq-abev-disck-disca-nly-intc-aapl-agnc-gm-slb | nan | nan | The NASDAQ 100 After Hours Indicator is up 15.24 to 13,819.15. The total After hours volume is currently 94,987,350 shares traded.
The following are the most active stocks for the after hours session:
iQIYI, Inc. (IQ) is +0.05 at $15.40, with 13,434,027 shares traded. IQ's current last sale is 69.06% of the target price of $22.3.
Ambev S.A. (ABEV) is +0.01 at $2.83, with 12,197,030 shares traded. ABEV's current last sale is 101.07% of the target price of $2.8.
Discovery, Inc. (DISCK) is unchanged at $33.08, with 8,106,570 shares traded. DISCK's current last sale is 76.93% of the target price of $43.
Discovery, Inc. (DISCA) is unchanged at $38.38, with 3,774,240 shares traded. DISCA's current last sale is 95.95% of the target price of $40.
Annaly Capital Management Inc (NLY) is unchanged at $8.84, with 3,258,155 shares traded. As reported by Zacks, the current mean recommendation for NLY is in the "buy range".
Intel Corporation (INTC) is +0.14 at $64.33, with 3,193,914 shares traded. Over the last four weeks they have had 11 up revisions for the earnings forecast, for the fiscal quarter ending Mar 2021. The consensus EPS forecast is $1.15. INTC's current last sale is 95.3% of the target price of $67.5.
Apple Inc. (AAPL) is +0.15 at $132.18, with 2,801,127 shares traded. As reported by Zacks, the current mean recommendation for AAPL is in the "buy range".
AGNC Investment Corp. (AGNC) is +0.015 at $17.37, with 2,105,775 shares traded., following a 52-week high recorded in today's regular session.
General Motors Company (GM) is -0.05 at $58.43, with 1,696,977 shares traded. As reported by Zacks, the current mean recommendation for GM is in the "buy range".
Schlumberger N.V. (SLB) is -0.01 at $27.30, with 1,693,811 shares traded. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Dec 2021. The consensus EPS forecast is $0.32. As reported by Zacks, the current mean recommendation for SLB is in the "buy range".
Ally Financial Inc. (ALLY) is unchanged at $47.75, with 1,672,891 shares traded. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Mar 2021. The consensus EPS forecast is $1.13. ALLY is scheduled to provide an earnings report on 4/16/2021, for the fiscal quarter ending Mar2021. The consensus earnings per share forecast is 1.13 per share, which represents a -44 percent increase over the EPS one Year Ago
Ajax I (AJAX) is -0.03 at $10.08, with 1,577,401 shares traded.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Ambev S.A. (ABEV) is +0.01 at $2.83, with 12,197,030 shares traded. ABEV's current last sale is 101.07% of the target price of $2.8. Over the last four weeks they have had 11 up revisions for the earnings forecast, for the fiscal quarter ending Mar 2021. | Ambev S.A. (ABEV) is +0.01 at $2.83, with 12,197,030 shares traded. ABEV's current last sale is 101.07% of the target price of $2.8. Over the last four weeks they have had 11 up revisions for the earnings forecast, for the fiscal quarter ending Mar 2021. | Ambev S.A. (ABEV) is +0.01 at $2.83, with 12,197,030 shares traded. ABEV's current last sale is 101.07% of the target price of $2.8. The total After hours volume is currently 94,987,350 shares traded. | Ambev S.A. (ABEV) is +0.01 at $2.83, with 12,197,030 shares traded. ABEV's current last sale is 101.07% of the target price of $2.8. The NASDAQ 100 After Hours Indicator is up 15.24 to 13,819.15. |
28256.0 | 2021-04-08 00:00:00 UTC | After Hours Most Active for Apr 8, 2021 : ABEV, UAA, T, XOM, CSCO, FE, ITUB, IQ, VIAC, PLYA, INTC, CLOV | ABEV | https://www.nasdaq.com/articles/after-hours-most-active-for-apr-8-2021-%3A-abev-uaa-t-xom-csco-fe-itub-iq-viac-plya-intc | nan | nan | The NASDAQ 100 After Hours Indicator is up 20.59 to 13,779.1. The total After hours volume is currently 76,874,770 shares traded.
The following are the most active stocks for the after hours session:
Ambev S.A. (ABEV) is -0.02 at $2.79, with 32,852,009 shares traded. ABEV's current last sale is 93% of the target price of $3.
Under Armour, Inc. (UAA) is unchanged at $22.75, with 5,268,067 shares traded. UAA's current last sale is 103.41% of the target price of $22.
AT&T Inc. (T) is +0.04 at $30.04, with 3,000,245 shares traded. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Mar 2021. The consensus EPS forecast is $0.77. T's current last sale is 100.13% of the target price of $30.
Exxon Mobil Corporation (XOM) is +0.01 at $56.01, with 2,952,995 shares traded. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Mar 2021. The consensus EPS forecast is $0.59. XOM's current last sale is 101.84% of the target price of $55.
Cisco Systems, Inc. (CSCO) is unchanged at $51.91, with 2,615,338 shares traded. As reported by Zacks, the current mean recommendation for CSCO is in the "buy range".
FirstEnergy Corp. (FE) is unchanged at $34.99, with 2,560,969 shares traded. FE's current last sale is 94.57% of the target price of $37.
Itau Unibanco Banco Holding SA (ITUB) is +0.04 at $4.78, with 2,203,330 shares traded. ITUB's current last sale is 79.67% of the target price of $6.
iQIYI, Inc. (IQ) is +0.01 at $17.25, with 2,006,971 shares traded. IQ's current last sale is 77.35% of the target price of $22.3.
ViacomCBS Inc. (VIAC) is -0.01 at $42.28, with 1,631,570 shares traded. VIAC's current last sale is 87.18% of the target price of $48.5.
Playa Hotels & Resorts N.V. (PLYA) is -0.01 at $7.52, with 1,520,235 shares traded. PLYA's current last sale is 113.51% of the target price of $6.625.
Intel Corporation (INTC) is +0.2 at $67.25, with 1,409,459 shares traded. Over the last four weeks they have had 11 up revisions for the earnings forecast, for the fiscal quarter ending Mar 2021. The consensus EPS forecast is $1.15. INTC's current last sale is 99.63% of the target price of $67.5.
Clover Health Investments, Corp. (CLOV) is +0.31 at $9.16, with 1,360,645 shares traded. As reported by Zacks, the current mean recommendation for CLOV is in the "buy range".
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Mar 2021. Ambev S.A. (ABEV) is -0.02 at $2.79, with 32,852,009 shares traded. ABEV's current last sale is 93% of the target price of $3. | Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Mar 2021. Ambev S.A. (ABEV) is -0.02 at $2.79, with 32,852,009 shares traded. ABEV's current last sale is 93% of the target price of $3. | Ambev S.A. (ABEV) is -0.02 at $2.79, with 32,852,009 shares traded. ABEV's current last sale is 93% of the target price of $3. The total After hours volume is currently 76,874,770 shares traded. | Ambev S.A. (ABEV) is -0.02 at $2.79, with 32,852,009 shares traded. ABEV's current last sale is 93% of the target price of $3. The NASDAQ 100 After Hours Indicator is up 20.59 to 13,779.1. |
28257.0 | 2021-03-02 00:00:00 UTC | 7 Cheap Stocks With a Great Comeback Story | ABEV | https://www.nasdaq.com/articles/7-cheap-stocks-with-a-great-comeback-story-2021-03-02 | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
The market has been on a huge winning streak. At least until the last week or two, stocks have been going straight up for months now. That’s left a lot of stocks looking downright expensive.
Far away from the special purpose acquisition companies (SPACs), the hot electric vehicle (EV) names and the biotechs, you can still find stocks trading at good prices. That’s because many of these names have something clearly troubling them at the moment. However, these seven comeback stocks are about to turn the corner.
You see, not all companies struggling now will remain in the doldrums for too long. Be it recovery from the novel coronavirus, improving commodity markets, or short-term market disruptions, these seven comeback stocks have a path to a far healthier outlook by the end of 2021.
7 Penny Stocks Close To Busting Through the $5 Mark
My top picks are:
Corporacion America Airports (NYSE:CAAP)
First of Long Island (NASDAQ:FLIC)
Empire State Realty Trust (NYSE:ESRT)
National Beverage (NASDAQ:FIZZ)
Ambev (NYSE:ABEV)
Entergy (NYSE:ETR)
TC Energy (NYSE:TRP)
Comeback Stocks: Corporacion America Airports (CAAP)
Source: Shutterstock
Corporacion America Airports has a fantastic com
eback story. Shares of the multinational airport operator made their initial debut on the NYSE in 2018 at $16 each. Given challenging economic and political developments in South America, CAAP stock slipped to $7. Then the pandemic hit, and seemingly overnight, CAAP stock plummeted to just $2.
Now, though, shares are on the mend. The stock is back up to $4.50 and set to keep gaining altitude. CAAP is the largest private airport owner (by number of concessions held) in the world, with its properties spanning Italy, Argentina, Brazil, and numerous other countries. Not surprisingly, traffic ground to a virtual halt during the height of the pandemic. Now, though, most of CAAP’s key markets have reopened at least partly, if not entirely.
Additionally, CAAP has received numerous relief efforts from various countries where it does business. These include employee salary support, tax relief, and even added years to the company’s airport concessions as compensation for 2020’s losses. On top of that,
CAAP secured a key 10-year lease extension for its prized Argentine airports, which include both of Buenos Aires’ international hubs. That pushes out those contracts’ life to 2038, ensuring many more years of strong profits to come.
At the worst point of the bust, CAAP was selling for less than $500 million in market capitalization despite serving more than 80 million passengers per year. That’s pretty interesting compared to, say, Mexico’s Grupo Aeroportuario del Sureste (NYSE:ASR) – the owner of the Medellin, Colombia and Cancun, Mexico airports. Sureste serves far fewer passengers annually than CAAP but has a market cap of $5.6 billion. Even accepting a reasonable discount because Argentina has a much weaker economy than Mexico, CAAP stock is still way too cheap here. Most other airline and aviation stocks have already come roaring back; CAAP stock should too.
First of Long Island (FLIC)
Source: Syda Productions / Shutterstock.com
You probably heard about the supposed “death of New York” last year. Media personalities were quick to claim that New York and other big cities were in for a world of hurt. With telecommuting reducing the need to live in big cities, and widespread looting last summer causing much of New York’s businesses to be boarded up, it was easy to take shots at the Big Apple.
And yet, what if all that story was overblown? At some point – hopefully fairly soon – life will start going back to something more normal. And when it does, New York will still be the country’s largest city, economic hub, and center of all sorts of cultural, sporting, culinary and other such pursuits.
All that is to say that while New York’s economy may slow down for a few years, the people writing its obituary in 2020 are going to look foolish.
With that in mind, let’s talk about regional bank First of Long Island. The bank, as its name suggests, is based in Long Island, NY, though it has operations in Queens and several other boroughs of the city proper as well. Notably, it is not particularly exposed to Manhattan on either a deposits or lending level. We’re largely talking suburban counties immediately outside of New York City here.
FLIC stock was a home run performer prior to Covid. Shares were up 300% out of the financial crisis and a ten-bagger from the 1990s-onward. The bank’s formula is simple: double-digit asset growth combined with low-risk lending and highly efficient operations.
Now, though, with the pandemic, FLIC stock has gotten pummeled. Shares dropped from $30 a couple years ago to less than $20 now. That’s even as most banking stocks are surging once again as higher interest rates (and thus bank profits) take hold.
7 Stocks to Sell for March
As a result, FLIC shares are going for just 11x earnings and offer a greater than 4% dividend yield. And, historically, the company has been able to grow earnings at more than 10% per year as well. Will it be able to in the future? Only time will tell. However, New York has been through many crises before and it’s always made a recovery.
Empire State Realty Trust (ESRT)
Source: Shutterstock
Sticking with that theme, we have the Empire State Realty Trust. You may not have realized it, but the Empire State Building itself is a publicly traded company. Well, rather, it plus around a dozen other office buildings in Manhattan and the New York suburbs. These assets constitute the REIT that trades as ESRT stock.
Empire State is composed of three primary businesses. It rents offices to people, both in its namesake building and its other smaller office properties around the city. It also rents retail storefronts on the ground levels of its buildings. The retail corridor around the Empire State Building in particular is highly valuable – the world-famous Macy’s (NYSE:M) flagship store is just a block away, after all.
And then, you have the Empire State Building Observatory. The world-renowned Observatory makes up the top stories of the skyscraper. Management has spent heavily on getting the building featured in numerous movies and music videos, and thus the property has done well in the age of Instagram and Tik Tok.
Prior to the pandemic, the Empire State Building was the single most requested destination on Uber (NYSE:UBER) in the entire world. Not bad as far as a strategic advantage goes.
The Empire State Building now attracts a huge chunk of its tourist visitors from abroad, with particular interest from the Asian market. Of course, this has basically dried up with the pandemic. If you believe international tourism will come roaring back once vaccines are widely deployed, then ESRT is a compelling comeback stock. Not only do you get one of the world’s iconic skyscrapers and all the office and retail that comes with that, you also have one of the most well-known tourist attractions out there. All that in a stock that is still down sharply from where it was a few years ago.
National Beverage (FIZZ)
Source: Jer123 / Shutterstock.com
National Beverage could be another compelling comeback stock story. This one combines several threads together nicely. The company, for those unfamiliar, makes La Croix sparkling water. FIZZ stock was a huge winner a few years ago as it rode a massive growth wave. Since then, however, shares have cooled off amid rising competition, heavy short selling, and some unusual complaining by the CEO.
While the short sellers raise some fair point – you can ding National Beverage on a few fronts if you want – I suspect the short sellers have overstayed their welcome.
8 Risky Stocks to Buy If Danger Is Your Middle Name
If I were a short seller, I’d certainly want to cover my position ahead of the summer outdoor activity season. As the economy reopens, the company should put up stronger comparable sales figures. And given how much the market loves high short interest stocks at the moment, this seems like a great opportunity for a squeeze.
Ambev (ABEV)
Source: Master1305/ShutterStock.com
Speaking of beverages, we also have Brazil’s dominant brewing house, Ambev. It, in turn is a subsidiary of Anheuser-Busch Inbev (NYSE:BUD) that does brewing for that giant in Brazil, Spanish-speaking South America, and Canada.
Most of the Covid-19 reopening types of stocks, such as restaurants, retail, and shopping REITs have already soared. Same goes for many of the beer and spirits companies located in the developed world.
However, ABEV stock has missed that trend so far. Traders are fretting about emerging markets. There’s some sense to that; Latin American countries like Brazil have run smaller stimulus packages than we’ve seen in North America or Europe. Thus, local economies will take longer to kick back into gear.
Still, once the global economy recovers, ABEV stock will ride the reopening wave. Shares are still down from $4 pre-pandemic to around $2.47. Additionally, the company has no debt, meaning it’s in fine position to ride out this downturn without any drama. Keep an eye on this comeback stock.
Entergy (ETR)
Source: Shutterstock
Traders have been dumping utility stocks lately. It’s understandable why. Investors generally own utility stocks for their dividends. Now, though, interest rates are spiking. Governments are running huge budget deficits. That could cause a surge in inflation. As a result, with the interest rates on bonds rising, people are willing to pay less for “bond substitutes” such as blue-chip utility stocks.
Combine that general negative backdrop with Entergy in particular, and you have a utility that has turned into a pure value stock. Entergy is a power utility based out of New Orleans. However, it also operates a significant business in Texas.
Given the fiasco that happened with the weather and electric grid there recently, investors rightly may be taking a sell first, ask questions later view on any power business in Texas.
That said, the effect on Entergy appears muted. CEO Leo Denault, in anearnings conference callon Feb. 24, noted that the firm spent an extra $125 million to $140 million on overtime and other costs for its workforce to get power flowing again. And it spent $400 million on extra fuel to deal with all huge spike in demand due to the winter weather. That’s a real cost, to be sure, but it’s hardly a massive problem for a company worth $17.6 billion at today’s market capitalization.
And, on the plus side, there’s a great comeback story for ETN stock, which is off by a third over the past year. Entergy is one of the leaders in deploying solar power, and is one of few utilities that made it into the Dow Jones Sustainability Index. This puts it in prime position to be a beneficiary of President Joe Biden’s more green-focused energy and infrastructure agenda. In the meantime, the stock goes for just 13x TTM earnings and pays a greater than 4% dividend yield.
TC Energy (TRP)
Source: bht2000 / Shutterstock.com
Oil and gas is starting to make a recovery. At least, judging by the price of crude oil itself or the highly levered wildcat production companies. NYMEX Crude Oil futures, for example, have quietly run back up around $60 per barrel now; they were at just $45 in December.
So far, however, this rebound hasn’t spread to the pipeline space yet. Traders are worrying about politics. The Biden administration is probably not going to be favorable to pipeline operators in the short-term. However, that may actually be a blessing in disguise. As it’s becoming increasingly difficult to build new pipelines in North America, existing pipeline operations become more valuable.
7 Safe Stocks to Buy for Your Retirement
As is, TC Energy, one of Canada’s two bellwether pipeline firms, has held steady despite the energy bust of the past decade. TRP stock has continued to pay out its large dividend, unlike most other energy companies. And, with oil and gas surging again, it’s only a matter of time until investors pile back into the pipelines. For now, TRP stock remains down 16.64% over the past year and currently pay a 6%-plus dividend yield.
On the date of publication, Ian Bezek held a long position in TRP, ABEV, CAAP, ESRT, ASR, and FLIC stock.
Ian Bezek has written more than 1,000 articles for InvestorPlace.com and Seeking Alpha. He also worked as a Junior Analyst for Kerrisdale Capital, a $300 million New York City-based hedge fund. You can reach him on Twitter at @irbezek.
The post 7 Cheap Stocks With a Great Comeback Story appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | 7 Penny Stocks Close To Busting Through the $5 Mark My top picks are: Corporacion America Airports (NYSE:CAAP) First of Long Island (NASDAQ:FLIC) Empire State Realty Trust (NYSE:ESRT) National Beverage (NASDAQ:FIZZ) Ambev (NYSE:ABEV) Entergy (NYSE:ETR) TC Energy (NYSE:TRP) Comeback Stocks: Corporacion America Airports (CAAP) Source: Shutterstock Corporacion America Airports has a fantastic com eback story. Ambev (ABEV) Source: Master1305/ShutterStock.com Speaking of beverages, we also have Brazil’s dominant brewing house, Ambev. However, ABEV stock has missed that trend so far. | 7 Penny Stocks Close To Busting Through the $5 Mark My top picks are: Corporacion America Airports (NYSE:CAAP) First of Long Island (NASDAQ:FLIC) Empire State Realty Trust (NYSE:ESRT) National Beverage (NASDAQ:FIZZ) Ambev (NYSE:ABEV) Entergy (NYSE:ETR) TC Energy (NYSE:TRP) Comeback Stocks: Corporacion America Airports (CAAP) Source: Shutterstock Corporacion America Airports has a fantastic com eback story. On the date of publication, Ian Bezek held a long position in TRP, ABEV, CAAP, ESRT, ASR, and FLIC stock. Ambev (ABEV) Source: Master1305/ShutterStock.com Speaking of beverages, we also have Brazil’s dominant brewing house, Ambev. | 7 Penny Stocks Close To Busting Through the $5 Mark My top picks are: Corporacion America Airports (NYSE:CAAP) First of Long Island (NASDAQ:FLIC) Empire State Realty Trust (NYSE:ESRT) National Beverage (NASDAQ:FIZZ) Ambev (NYSE:ABEV) Entergy (NYSE:ETR) TC Energy (NYSE:TRP) Comeback Stocks: Corporacion America Airports (CAAP) Source: Shutterstock Corporacion America Airports has a fantastic com eback story. Ambev (ABEV) Source: Master1305/ShutterStock.com Speaking of beverages, we also have Brazil’s dominant brewing house, Ambev. However, ABEV stock has missed that trend so far. | 7 Penny Stocks Close To Busting Through the $5 Mark My top picks are: Corporacion America Airports (NYSE:CAAP) First of Long Island (NASDAQ:FLIC) Empire State Realty Trust (NYSE:ESRT) National Beverage (NASDAQ:FIZZ) Ambev (NYSE:ABEV) Entergy (NYSE:ETR) TC Energy (NYSE:TRP) Comeback Stocks: Corporacion America Airports (CAAP) Source: Shutterstock Corporacion America Airports has a fantastic com eback story. Ambev (ABEV) Source: Master1305/ShutterStock.com Speaking of beverages, we also have Brazil’s dominant brewing house, Ambev. However, ABEV stock has missed that trend so far. |
28258.0 | 2021-02-25 00:00:00 UTC | Companhia de Bebidas das Americas (ABEV) Q4 2020 Earnings Call Transcript | ABEV | https://www.nasdaq.com/articles/companhia-de-bebidas-das-americas-abev-q4-2020-earnings-call-transcript-2021-02-26 | nan | nan | Image source: The Motley Fool.
Companhia de Bebidas das Americas (NYSE: ABEV)
Q4 2020 Earnings Call
Feb 25, 2021, 10:30 a.m. ET
Contents:
Prepared Remarks
Questions and Answers
Call Participants
Prepared Remarks:
Operator
Good morning, and thank you for waiting. We would like to welcome everyone to Ambev's fourth-quarter 2020 Results conference call. Today with us, we have Mr. Jean Jereissati, CEO for Ambev, and Mr.
Lucas Lira, CFO and investor relations officer. As a reminder, our silds presentation is available for downloading on our website, ri.ambev.com.br, as well as through the webcast link of this call. [Operator instructions] Before proceeding, let me mention that forward-looking statements are being made under the safe harbor of the Securities Litigation Reform Act of 1996. Forward-looking statements are based on the beliefs and assumptions of Ambev's management and on information currently available to the company.
They involve risks, uncertainties and assumptions because they relate to future events and therefore, depend on circumstances that may or may not occur in the future. Investors should understand that general economic conditions, industry conditions and other operating factors could also affect future results of Ambev and could cause results to differ materially from those expressed in such forward-looking statements. I would also like to remind everyone that, as usual, the percentage changes that will be discussed during today's call are both organic and normalized in nature and unless otherwise stated, percentage changes refer to comparisons with 4Q 2019 results. Normalized figures refer to performance measures before exceptional items, which are either income or expenses that do not occur regularly as part of Ambev's normal activities.
As normalized figures are non-GAAP measures, the company discloses the consolidated profit, EPS, EBIT and EBITDA on a fully reported basis in the earnings release. Now, I'll turn the conference over to Mr. Jean Jereissati, CEO of Ambev's. Mr.
Jereissati, you may begin your conference, please.
Jean Jereissati -- Chief Executive Officer
Good morning, good afternoon. Thank you very much for joining our call. 2020 was unforgettable in many ways, what a year, on one side, all the sadness, hardship and challenges that COVID-19 brought. On the other, I praise the resilience of our team and respect their commitment with the profound transformation our company went through last year.
Ambev made a positive impact in society. Ecosystem collaboration for a better world was the tone of 2020. We launched meaningful innovations to from Cusqueña in Bolivia, to the most commented sparkling wine, LP QTP in Argentina. Our innovations grew our portfolio and expanded our reach in terms of new propositions to consumer.
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In Brazil, Brahma Duplo Malte was the star of our pipeline. Thanks to an innovative development process, singular, liquid and a disruptive marketing launch, the Beats franchise revamp with GT and Zodiac also brought us a breath of fresh air with the new generation. Ambev's technology platforms were exponentially adopted Chuí in 2020. Digital businesses are here to stay and platforms like Ze Delivery and BEES, our super app, were at the right place in the right time.
As for the fourth quarter, we build on the commercial momentum from Q3 to deliver a good finish to the year. More importantly, the success of our commercial strategy in the quarter also positioned us well for 2021. And here's why. Beer volumes continued to recover and grew year over year in seven out of our top 10 markets, led by our double-digit growth in Brazil, in Chile, Guatemala and Paraguay.
It was also important to see our beer volumes in the Dominican Republic recover strongly despite the COVID-related restrictions. We have been strengthening brand equity and power of our portfolio and gaining market share in most of our key markets. In Canada, for instance, our portfolio grew share once again. In Brazil, beer volumes grew almost 12% despite a still very volatile environment, despite the supply chain constraints that impacted us, our service level, the lower government stimulus and our price increase rollout.
On top of all of that, our global brands outperformed the total industry and had a solid growth in brand equity and power. Bohemia and Brahma Duplo Malte finished the year as the top two leader brands in the underdeveloped core plus segment and still have plenty of room to grow. In the core segment, after years of volume decline, we stabilized our brand performance, thanks mainly to the expansion of the 300 ml returnable glass bottles in Moms and pops and the takeaway of our strategy that we implemented. We strengthened our value portfolio with the launch of two more regional brands, beer Hero in Poe and Esmera in Goiás.
And finally, we delivered a strong net revenue per hectoliter, thanks to a successful implementation of our price strategy that was built around a more flexible approach, a positive mix, driven mainly by innovation, the innovation performance and revenue management initiatives, including a smarter occasion based promotional activity that it proves very efficient. We continue to transform our business to quickly respond to consumer and customer needs and solve their pain points. Today, I would like to share more details about the role technology is playing in this process. In our DTC and B2B platforms are the best examples worth talking about.
So let's start talking about Ze Delivery in Brazil. Ze's value proposition is really simple. Your favorite beverages at reasonable prices, cold in 35 minutes. This is simple, but very, very powerful.
Ze is present in more than 200 cities in all 27 Brazilian states. And in 2020, delivered 27 million orders with the equivalent of one order per second only in Q4. It also delivered a rich assortment of products from over 40 partners, FMCG companies and was rated the best delivery app on the App Store and Android. It's a strong relationship with more than 2,000 retail partners, such as small and large supermarkets, moms and pops and bars is essential to ensure a high net promoter score currently north of 80 for both consumers and customers.
Ze's focus in 2020 was geographic expansion and improvement of the operational model. For 2021, it will focus on increasing penetration, retention, frequency and assortment in order to continue the journey to fulfill its full potential consumer by consumer occasion by occasion. Now, let's talk about BEES, our super app, our B2B marketplace platform. BEES is designed to provide our customers more convenience in terms of 24 hours, seven days a week order taking and delivery tracking.
And also serves as a marketplace that provides a broader assortment, additional logistics and financial services. It aims to be the one-stop shop solution for the retail, with a transformational opportunity for allowing Ambev to develop a closer and more reliable relationship with our customers' ecosystem. It's about better quality of interaction. And as we listen more and have more data to work with, we can ultimately offer a better service level to our partners.
The platform was developed in the Dominican Republic, where 90% of our customers already adopted it. There, our marketplace service already offers a broader assortment, and we are into eight different categories, with 70 different SKUs that go beyond our beverage portfolio. Going into 2021, we expect another challenging year. COVID is still very real, and we will face larger cost pressures with cash COGS per hectoliter in Brazil expected to increase in the low BRL 20s.
That said, our commercial and top line momentum built last year is also real. In fact, our top line performance will be one of the most important things to watch as we work to partially offset the cost headwinds. And the good news is that we are off to a good start, with volumes growing above 10% in Brazil beer so far despite carnival cancellation. Also, pricing performance should benefit from mix continuing to play in our favor and a smarter promotional activity remaining in the full year, taking into account the market environment.
I have no doubt that we are starting this year much more prepared than we were in 2020. Our portfolio is in a better shape, our brand power is healthy and growing, innovation pipeline is strong, and our route to market was transformed through all this digital platform that scaled very fast. On top of that, cash generation continues strong, and we remain committed to invest ahead of the curve. So that was pretty much it.
Thank you very much for your time and attention. I will handle this to Lucas.
Lucas Lira -- Chief Financial Officer and Investor Relations Officer
Thanks, Jen and hello, everyone. Let me start by talking about the tax credits in Brazil. Given that they were so impactful in the quarter. We recognized 4.3 billion reais in tax credits, 2.5 billion reais were recorded in other operating income and 1.7 billion reais were charged to our financial results.
These credits result from a 2017 Brazilian Supreme Court decision on the merits that declared unconstitutional the inclusion of the ICMS state tax in the taxable basis of the PIS and the COFINS federal taxes. As further disclosed in our notes to the financial statements, with the support of counsel and external advisors, in December, we concluded the estimation with reasonable certainty of the amount to which we are entitled. Given the nature of the dispute, these tax credits are technically part of our normalized results from an accounting standpoint. However, given the materiality of the amount, and to ensure greater transparency of the underlying performance of the business, we decided it was appropriate to do two things: one, disregard these tax credits for purposes of calculating our organic performance and treat them as a scope change.
And two, we updated our accounting policy to record all extemporaneous tax credits under other operating income instead of the P&L lines that were originally impacted in the past. If it weren't for the scope adjustments, our nominal normalized EBITDA for 2020 would have been nearly 19.5 billion reais with an EBITDA margin of 33.4% and normalized profit would have been approximately 8.2 billion reais. There is still ongoing litigation in this matter, and we will keep the market updated as things progress. And any potential further tax credits will be recorded when the prospects of their recovery are practically certain from a legal perspective and the amounts to which we are entitled can be estimated with reasonable certainty.
It is important to point out, however, that even if we disregard the impact of the tax credits, the financial performance in the quarter was actually good given the circumstances. We delivered a consolidated top line growth of 13.4%, with a healthy combination of 7.6% volume growth and 5.3% net revenue per hectoliter growth. Gross margin and EBITDA margin improved sequentially once again on a consolidated basis, and net-net, EBITDA declined only by a slight 0.1% year over year. This performance in the quarter allowed us to deliver 4.7% top line organic growth for the year, while EBITDA declined organically 11.1% in 2020.
In addition, full-year cash flow from operating activities actually grew 2.6%, and we managed to further strengthen our solid liquidity position, which proved critical in the very volatile operating environment of 2020, which we expect to continue into 2021. Capex totaled 4.7 billion reais for the year, and we returned 7.7 billion reais to shareholders in the form of dividends and IOC. Switching gears to 2021. The challenge around improving our profitability remains front and center.
Margins will once again be under pressure given significant FX and commodity headwind. For instance, our average hedge rate for the BRL versus the U.S. dollar for 2021 was 5.29 reais, which represented over a 30% increase year over year. The BRL showed high volatility in 2020 and was second only to the Argentinian peso in terms of depreciation relative to the U.S.
dollar among major Latin American currencies. Although we expect to see a correction in the future, this is definitely the biggest hurdle we need to overcome this year. In addition, unlike the past, when we saw some negative correlation between commodity prices and the BRL devaluation against the U.S. dollar.
Commodity prices have actually trended against us, particularly barley and corn, not all of which we have the ability to hedge. As a result, we currently expect Brazil beer cash COGS per hectoliter to grow in the low 20s for the full year. And to tackle this challenge, we will basically have to get two things right. First, deliver a solid top line performance and second, successfully implement several mapped blends and initiatives around productivity and keep our financial discipline with respect toward management of our costs and expenses.
As I have mentioned in the past, there's not going to be an easy solution, and there's not going to be a silver bullet. And it's difficult to predict exactly how much of the margin pressure we will be able to offset through these levers. But we remain fully committed to continuously and consistently improve our results during the course of the year without, however, losing sight of the longer term. As Jean mentioned, we are on a journey to transform the company, and we must do so while investing behind the long-term sustainability of our business.
And speaking of sustainability, today, I also wanted to share some brief highlights on the progress we've been making on this front. In 2018, we announced our sustainability goals for 2025, which were broken down into five pillars: water, climate and energy, circular packaging, sustainable agriculture and smart drinking. And I am happy to report that in 2020, we made progress on all fronts even during these challenging times. And we remain on track to deliver our goals by 2025.
For instance, in terms of clean energy, in Chile and Argentina, we are already operating with 100% renewable energy and we expect to have more than 90% of our Brazilian breweries supplied with renewable energy by 2023. In addition, we are extending the supply of renewable energy to 100% of our distribution centers in Brazil, which we'll be able to charge our delivery fleet comprised of at least 50% of electric vehicles by 2023. As a final note, I wanted to share the news that Gilliam Acacia is succeeding CHA Oliver as our Head of investor relations. Yakka, as he is also known, joins us from Budweiser APAC where he spent the last seven years leading the FP&A agenda for the region.
Live meanwhile is taking over as Head of M&A for Ambev. I wanted to thank Levi for his work in IR over the last two years. And wish both the best of luck and success going forward. With that, let's go to Q&A.
Thank you, ladies and gentlemen.
Questions & Answers:
Operator
[Operator instructions] Our first question comes from Marcelo Recchia, Credit Suisse.
Marcelo Recchia -- Credit Suisse -- Analyst
Hi, Jean. Hi, Lucas. Thank you for taking my questions. The first one would be about the tax credits.
If I understood correctly there are more 1.9 billion tax credit to collect overtime, correct? So do you have any visibility on timing for that an top of that will -- would you -- will it be reasonable to accept a risk statement of Brazil beer sales of 2020. This is the first question. The second one, if I may. With the redesign in agreements between the Coke bottlers and Heineken announced it yesterday, one of the main concerns of the market has been about competition identification, particularly in the premium segment.
So my question is what can we expect from Ambev as mitigating levers for,let's say this potential higher competition? Thank you very much.
Lucas Lira -- Chief Financial Officer and Investor Relations Officer
OK. Hi, Marcelo. Thank you for the question. With the tax credit, Marcelo, there is no clear timing yet as it relates to the one point nine billion of potential tax credits that we disclosed in our footnotes to our financial statement.
This really is because this is dependent on the judicial system in Brazil. So we still await the judicial decisions that will give us reasonable certainty to be able to to to record and recognize its credit. So it's really depending on the course of the judicial dispute in respect to this amount.
Marcelo Recchia -- Credit Suisse -- Analyst
Perfect. Thank you.
Jean Jereissati -- Chief Executive Officer
And about the deal, Heineken and Coke. Brazil has always been a very competitive market and it's too early to say something about how this deal will unfold. For me, it's a little bit -- it's highly anticipated this type of move. And what I can say is that for a while now two years -- from two years ago we really started to transform big time our route to market.
And it remains unparallel and we believe that we are getting a new edge on that. We have to remember that third 30 percent of our volumes are distributed by 150 wholesalers. That's that's where they are with fast for 20 years and they are going through a business transformation adopting, some of them adopting delivery too. The remaining 70 percent is distributor -- distributed by approximately 200 direct distribution centers.
And we are betting big time on the thing about technology on the DTC and on the BEES that we believe that it will be the edge of -- and the many possibilities of hypersegmentation of supporting a broader portfolio, launching innovation, is with this type of platforms like this that we are seeing that in the past, we had sales rep going to a customer, and they -- he would have like seven minutes, they can order. Now because of our platform in the wholesales, in the our customers, they are staying 30 minutes a week in the platform, looking innovation, learning about marketing campaigns, connecting. So in the end, we have our strategy of transforming our company. We are pretty much sticking to -- investing on that.
And the deal, I think, is highly anticipated, let's see how it unfolds. OK.
Marcelo Recchia -- Credit Suisse -- Analyst
OK. Thank you very much, Jean and Lucas.
Operator
Excuse me. Our next question comes from Andre Hachem, Itau.
Andre Hachem -- Itau -- Analyst
Hello, Jean, Lucas. Thank you for taking my qeustion. I have basically two questions here. The first one is regarding the 10% volume increase you mentioned this year.
Could you just provide us a bit more breakdown in terms of regions and mix and how that's been developing? We're curious, especially because of the end of the government aid program. So especially in North and Northeast, we were wondering if you have been seeing, let's say, lower volume recoveries than in the other regions. The second question is relating to your digital initiatives. Could you guys comment a little bit on minor.com it's been evolving quite well.
I know it's been, let's say, a big bet in terms of the cash and carry or fighting off the cash and carry. So what is the strategy on that front? And how do you see this developing going forward?
Jean Jereissati -- Chief Executive Officer
OK. So let me start with the volumes. So I've been saying -- I use -- we use it to say that we lost close to 10 million hectoliters in Brazil beer from our peak volumes in 2014, and we have been working to get this 10 million back. 2020 alone was a year where we were able to recover 4.5 million hectoliters since the low point that was 2018.
And that was possible because we created -- it was less about the industry and more about our ability really to create new occasions for in-home consumption. We revolutionized the way we connected with our consumers. 2020 marked a moment where we can say that pretty much all the additional volumes sold in the industry was redriven by Ambev in a holistic play on portfolio technology lives RTM marketing. And so these things are pretty much structural.
And that's because of that, that we see the momentum that we still have in Jan plus Feb in 2021. And so that's it, we are pretty much investing in the things that we can control, and we are excited about these new things. The scenario is still very fluid. We don't know how this is going to evolve.
But a big part of our volume, there is a part of it that really are market share gains. When you talk about the Acelio and the Northeast. So we have a lot of market share gains in the north and in the Middle East, too. So it is something that we are pretty much looking at volumes that were generated by our occasion expansion, industry expansion and market share gains.
So that's pretty much it. So having said that, the world is transforming. It was amazing how we see the digital platforms really been adopted exponentially. It was really something that we didn't -- it was like a five year plan that helped -- that happened in five months.
So we are -- with Ze Delivery for a while now, and it really exponentially grew last year. BEES is something that is more recent, is something that we are working for 18 months and then, but it is really -- it was an explosion of adoption with our customers during last year. And in the end, a big difference of all the things combined in our RTM is really the -- so the digital hook and the deliveries. And so in the end, it's -- so this is type of service that we are able to do from the highest north of [Foreign language] is really -- our network is really granular.
And I think this is a different animal when we compare with the other options or the what other industries are doing in terms of cash and carries or even other industries trying to get that reach. I think that's how the world will evolve. We have to be prepared with technology, with the evolution of the RTM, and we are very excited about it.
Lucas Lira -- Chief Financial Officer and Investor Relations Officer
Just 2, Andre, just to supplement, specifically to your question around menu.com. This was an investment that we made a few years ago. We found a group of entrepreneurs that we were very impressed by and decided to partner together with them to develop a marketplace in the Brazilian market. And I think 2020 was another year where they consistently managed to expand their presence in the market.
And the more we work with them, the more opportunities we see to leverage the scale and the infrastructure of the broader Ambev organization, to help improve service level to clients across the country. So this is not just about menu.com and BEES and Ze Delivery. We also have Donus, which is our fintech start-ups that we've been investing behind as well. So we're really trying to create a menu, no pun intended, but a menu of options to serve better on the logistics side, on the financial side, on the products availability side.
So that we can ultimately deliver tangible benefits to our clients and our consumers. It's about an ecosystem. It's not just about one or the other.
Andre Hachem -- Itau -- Analyst
Perfect guys. Very clear. Thank you.
Operator
Our next question comes from Thiago Duarte, BTG Pactual.
Thiago Duarte -- BTG Pactual -- Analyst
Hello, Jean. Hello, Lucas. Good afternoon everybody. I have three questions, two of them focus on the digital initiatives and last one on the market.
The first one, if you could talk a little bit about the BEES, particularly the BEES service and how that affects our commercial and go-to-market strategy. I get the benefits of scalability, use of Big Data and the amount of services that you can put together to customers. But I was wondering, in the past, our understanding was that one of the competitive advantages that Ambev had with the in-person presence in the point-of-sale was in terms of the competitive advantage that you built relative to the competition. So my question is how going digital and that platform may eventually cannibalize or even enhance the direct route strategy, whether it's detrimental or incremental to that, that will be an interesting discussion.
The second question is on Ze Delivery and the DTC initiatives, right? I know you're focused more on nominal dollar growth than margins, right? But you mentioned that one of the reasons for the increase in SG&A expenses in Brazil was because of the expenses related to this DTC initiative. So can you talk a little bit to us about how this platform stack up against your regular off-line business in terms of gross margin and SG&A, that would be an interesting point as well. And the third question is in your earnings report, you mentioned or you show in that chart that in Brazil, the share of off-trade channel in Brazil beer is back to 2019 levels. So back to pre pandemic levels.
So can you talk to us a little bit about how that normalization of sales channel reflected in your packaging mix and brand mix or weather packaging and brand mix is also more normalized in the fourth quarter. Thank you.
Jean Jereissati -- Chief Executive Officer
OK. Many questions here Duarte, let me see if I get all of them and if I miss something, you -- i can add on the end. So the BEES, so -- and there was the question about menu first that I didn't get it right. So BEES and menu are two strategies, two ventures that we are really working together to get this RTM revolution that we are proposing.
There is a nonlinear transformation of the RTM, thinking 10 years ahead and not the way we think it should be, OK? So BEES and menu, both are working helping us on that direction. Having said that, we don't forecast for now to lose the human contact with our customers. I think -- so what we are working very hard right now is really to upgrade and to evolve and to transform the role of the sales representative that it was in the past, pretty much order taking and some type of execution to a more business representative that has a lot of data in his hand and really can help our customers in category management, in more profits, in innovation, on technology adoption. So in the end, we are pretty much worked on a new approach, there is an evolving approach from we have today, but we continue with the human contact on the BEES, OK? Just talk about BEES a little bit.
It centralized different services. There's a 20-hour seven days platform that creates customized touch point and it's really improved service level, and it's really helping to really digitalize our customers. And it's something that we thought it would take much more time, would be much more difficult. But the adoption and with the sales representative there, the way we are -- we have been able to put the apps in our customers and made them use and then we have metrics about usage.
So how many minutes you stay there in the loyalty programs and how many orders do you and if you follow delivery and we are really amazed by the way we were able really to make our customers pretty much adopt big time. BEES is already a business, if we look at that business alone or that -- or the channel or business, it's already with a GMV of BRL 20 billion annualize it when you look at that as -- this is one thing. Second thing, it is about the Ze. So in the end, so we are talking a lot about Ze.
I think Ze is something that is nonlinear for the Brazilian community in terms of beverage delivered. It solve many pain points. It was really something that -- it really fits with the problems that we have in the pandemic, people looking for convenience, need to stay in that home. It has a great proposition.
And in the end, so we really believe that it's going to be a very accretive for our business because you have data, we have frequency. You have all the information that we have. And then we are in a moment that in this expansion, there is some customer acquisition on this expansion that impacts us a little bit. But going beyond that part, we really believe that Ze is the way for us really to connect and get frequency.
It's amazing how we are seeing. We really thought at some point in time that Ze would be occasion-based push. And what we are seeing is that when the customer really go in, it became a frequent customer that orders six, seven times a month. It's really something about recurrence, big time, and we are very, very exciting about it.
So the last question, it was about RGB in off trades, RGB and channels, is it? So Q4, we saw a gradual reopening of the country. In reality, this has been back and forth. So it's some areas are reopened, some areas shut down. We are seeing this back and forth, most of the time.
And in this scenario continues very fluent with the restrictions, and this is on the municipality level. It's important to note, however, then the on-trade channel continue to reopen and channel mix is closer to pre-COVID but that consumption occasions are still very impacted. It's not because the bars and the mom and pops, they are open that four friends can go around the table and really get that occasion, there is socializing out-of-home. That occasion is still very impacted in the market.
We don't see it coming. But we see bars, moms and pops really transforming themselves. We are helping them on this project -- on this process. We are -- so Ze is an app that we do through our customers, through the retail, supermarkets more market.
So it helps them -- our customers to do this transformation. Another thing is that we are really expanding this RGB 300 ml is small bottles on a to-go strategy for the always more on trade of Brazil. So this is helping a little bit. But the point it is, we still see many opportunity to see the location independent on the channel, that is socialized outside of home that is very accretive for us to come back.
So this is still very limited.
Thiago Duarte -- BTG Pactual -- Analyst
Amazing, Jean. Thank you so much.
Operator
Our next question comes from Lucas Ferreira, J.P. Morgan.
Lucas Ferreira -- J.P. Morgan -- Analyst
Hi, Jean. Hi, Lucas. Good afternoon, everybody. You're giving a guidance of 20% increase in the COGS per hectoliter.
So I have two questions about underlines on the P&L for the year. So Jean just discussed that Ze Delivery is still a client acquisition phase for -- to support its growth. So wondering if you guys can comment about the SG&A trends for this year? If you still think that you should trend maybe slightly above inflation or relative to your -- your regular revenues, how that should behave if you have room to some savings here and there. Or in future bringing new brands to Porto Alegre, you're going to have to speed up the marketing for those.
How to think about that G&A? And the other question is on corn pricing. First of all, how you see your price -- the price point of your main brands relative to competition? Do you believe that there is room for some catch-up there or not? And how do you see the overall pricing for during Brazil this year given that not only you but everybody should be facing corns pressure. So my question is that do you believe that we should be able to see cost growing above inflation this year. Or are you see any inflation as your target? Thank you.
Jean Jereissati -- Chief Executive Officer
OK. So I'll get the last one first and then we go back to SG&A and a little bit of the COGS. So as you know, we have been much more flexible, nimble and agile in implementing revenue initiatives and to approach market conditions to pursue healthy revenue. In the end, that's the objective, healthy revenue, combined with sustainable volumes.
And with this approach, our net revenue per hectoliter growth of 8% in Brazil beer in Q4. It was something that was based on this new strategy. And it can be broken down in three parts. So we really started to taking price to recover inflation in Q3, end of Q3, in this process, it was rolled out through Q4 faced by 10 regions and packs.
So this is something that it was an ongoing process during Q4. We believe that by the end of Q4, the relativities were pretty much on the historical range. But this process was something that we are really getting it phased in and nimble and flexible and agile. On top of that, we had a smarter way to do promotional activities.
It was -- we used a lot this new -- this concept of occasion based activations, cross promotions for consumers in different channels, and we are very happy because it was really effective in our Q4. And finally, we have -- so this Q4, we had improved brand mix that it was really driven by, first, the sustained resilience of our core brands. So that's something that we have to talk about. It is -- so when you -- we look like Lasko to end up the year with flat volumes, it's really something that it was a drag in the past and it's really helped us when you stabilize the core.
We need to get all the innovation and all the premium has been accretive. So a part of it, it was really improved brand mix. With the innovations, global brands growth. So in the end, so that continue to be the tone for 2021 where we have to approach the market in the same way.
So the price is pretty much there when we connect with inflation and relativities the mix is -- continues to be strong and the occasion based promotion activities, if we will be more nimble. It depend -- depending on how these things would evolve. So having said that, so let's talk a little bit about the margin side. So I just want to narrow more the margin discussion on beer -- on Brazil, we are looking at last in Kaki already with recovering margins.
In 2021 Brazil is really the issue with the cash COGS of the low cranes that we just gave the guidance. It's really about the currencies that we already talked about, the other commodities that really accelerated in Brazil. And the way for us really to manage that. Is really to continue this growth momentum.
So this net revenue strategy that I've been talking around the own trade reopening is really something that we believe that in H2, more in H2, it's going to be something more resilient. The occasion, not the reopen, but the occasion, the socializing. And talking about sales and markets. So we are not going -- lowering down our financial disciplines on cost and expenses.
There are some bads. For example, Ze is a bad, but in the end, we are being much more effective on other fronts that are front more related with all this digital platform that we are creating on top of Ze. There is, for example, that we just saw now that we're going to broadcast NBA and going to have all the data of everybody that has the passion for basketball and Budweiser will own this. So it's a much smarter way for us to do this type of market.
And then we believe that this -- that we'll be able -- we'll not put lower the guard with sales and market. We're going to invest on the right things, but there are a lot of initiates for us to take moving forward outside of Ze, that's really a bad that we are doing.
Lucas Ferreira -- J.P. Morgan -- Analyst
Thank you, Jean.
Operator
Our next question comes from Rob Ottenstein, Evercore.
Rob Ottenstein -- Evercore ISI -- Analyst
Great. Great. Thank you very much. A couple of things.
One, I wonder if you can give us a little bit more detail on how your premium portfolio is evolving and the strategy there and your ability to maintain or gain share in premium? And then the second, you talked a little bit about how you're helping your customers digitally, but I'm also wondering, a lot of the bars, restaurants, obviously, have been hurt badly because of COVID. Are there things that you've done in terms of perhaps temporarily loosening up terms, working capital, assistance, any other assistance of a sort of a financial sense to perhaps strengthen your relationships and create greater degrees of loyalty. Thank you.
Jean Jereissati -- Chief Executive Officer
Thank you, Robert. So first of all, premium is really a long-term strategy in which we have to be patients -- have to have patients, really to build brands and to invest on brand power, brand equity, and we are taking a view, a strategy of a portfolio to do this as an important revenue stream for the future. In this full year, our global brands, 2020, continue to -- with a very good momentum. It was a double-digit growth.
It was a growth that we are comfortable in good, if we really make it for some years on that type of growth. So there is a combination of global brands here. If I would take out, for example, Corona, that it was a brand that we are, for a while, we investing that we were a little bit concerned because of the pandemic and the name and everything is really resilient and growing much ahead of our average of global brands. Beck's is really something that's doing very well, tripling and we had a lot of adoption on a lot of acceptation.
So I really am excited with our strategy. Colorado is another brand that's doing very well to -- if we take out the impact of the Colorado bar, so the brand is growing very well, very fast as a national craft that we have leader on the craft on the super premium side. So we had an issue this year pretty much on the domestic premium brands, pretty much Sertanejo, Original, that the brand Skol Puro Malte, really toward these brands -- their own trade occasion really connected it suffered a little bit more on that. But in the end, we are very excited about the consistency, the long-term view and the portfolio strategy approach that we are having with premium.
I'm really excited about it. We're going to talk about it for a long because it's -- I would be very consistent on that. So having said that, talking about restaurants. And yes, so it's a channel that it's really suffering.
We really collaborate the most we could during the year with the National Bar Association with our customers have been flexible on payment terms, on delivery on healthy -- kits -- we gave some healthy kits for our restaurants, bars to be able to work safely. We elected one brand that was Bohemia to help on get a better margin for the trade. So it was the brand of the reopening to give a little bit more room for the profitability of bars. We are helping the restaurants with our digital platforms, big time.
So Ze Delivery is connected with 2,000 small clients, sometimes that's a bars, sometimes a restaurants. So we help to make to -- for them to have orders. We are creating this -- that I mentioned the are promotions for their bars and restaurants have a good strategy of to go to take away. So the RGB 300 ML.
So we really believe that we are in a good moment. When we measure the customer satisfaction of this small trade, even though with all the service level that we had last year. And we still have because we are selling more than -- less than we should because the supply chain is really stressed. When we measure the NPS, it was really something that changed big time from 2019 to 2020.
So the feedback that we received from our customers, they are more -- I have a better Net Promoter Score with my customers this year than last year.
Rob Ottenstein -- Evercore ISI -- Analyst
Thank you very much.
Lucas Lira -- Chief Financial Officer and Investor Relations Officer
Go back to the -- Robert, sorry, just before you go. On your first question, if we just expand beyond Brazil, I also think it's worth kind of noting that our premium brands and the portfolio word approach that we're developing in other markets, right, also had a very good year in 2020. So if you go to places like Canada, right, where Corona and Stella Artois had a very solid performance on the brand power side and on the market share side. If you go to Central America and the Caribbean, where you have Corona, Modelo Especial in some markets, Michelob Ultra also playing an important role of allowing consumers to trade up and increase the weight of premium volumes, right, as part of our total business in these markets.
So it's -- obviously, Brazil is key to our business. But the focus behind our above core, core plus and premium, is not limited to that. And I think the good news is that over the course of 2020, we managed to also build momentum in premium in other markets where Ambev is present.
Rob Ottenstein -- Evercore ISI -- Analyst
Great. Thank you.
Jean Jereissati -- Chief Executive Officer
Get one or two more questions and -- two more questions and it's over. Two more.
Operator
Our next question comes from Olivier Nicolai, Goldman Sachs. Lucas.
Olivier Nicolai -- Goldman Sachs -- Analyst
Good morning, Jean, Lucas. Thanks for taking the question. Two questions, please. After the very strong volume score that you have in Brazil beer in H2 and also the strong start that you have indicated for Q1.
Could you please give us an update on your capacity utilization in Brazil? And then just...
Operator
Olivier, your line is open. You may continue.
Olivier Nicolai -- Goldman Sachs -- Analyst
Hello, can you hear me now?
Lucas Lira -- Chief Financial Officer and Investor Relations Officer
We can listen to you now.
Operator
Olivier, excuse me, you may continue. Your line is open.
Lucas Lira -- Chief Financial Officer and Investor Relations Officer
May be it's because it's 1:30.
Operator
OK. We lost connection with Olivier. Our next question comes from Joao Soarian, Citibank.
Joao Soarian -- Citi -- Analyst
Can you hear me OK?
Jean Jereissati -- Chief Executive Officer
Yes.
Joao Soarian -- Citi -- Analyst
OK. Great. Just a very quick one on my side. Jean, Lucas, when I look into the cash COGS per hectoliter guidance that you gave, the 20%, 23%, I just wanted to understand how conservative that is in the sense that we should expect that a mix shift back toward the RGBs.
And if I recall correctly, the third quarter, you mentioned a very big impact, right, double-digit impact alone just from the mix shift. So I understand if there is any upside that cash COGS and could it be smaller depending on the way that the mix shift behaves? And another question linked to that. I remember that you talked about launching more RGBs into the off-trade and trying to kind of change the mix of the off-trade with innovation, with product launches in a way that you have been doing in your overall strategy. So just trying to understand those two points.
Jean Jereissati -- Chief Executive Officer
What was the second one? So the first one, it is that -- so yes, in terms of transparency, we decided to give a guidance that's a guidance that through everybody kind of put that on the models. And is the best number that we have. When we look today moving forward, it's true that is more related with FX and commodities. And of course, if depending on the change in the recovery in the mixed channel, this can be better or worse.
But we believe that this is the best forecast that we can do right now with the available information that we have. So having said that, so we are working big time on -- if you think about, first of all, we are working big time to maintain our bar customers alive to transform them into a -- in platforms that can be much more than the physical place. And they can deliver through them, they can have their to-go strategies, take away strategy. And we have a big plan for returnable bottles in the half 3Q on the -- what we can call small of trade or moms and pops that has this occasion that is something that we are betting that it should continue to gain traction throughout the year.
So that's what I can mention about about the mix and the of it.
Joao Soarian -- Citi -- Analyst
Great. That's great. Thanks guys. Thank, Jean.
Operator
The question-and-answer session is now finished. Now I'll turn the conference over to Mr. Gene Jereissati for final remarks. Please, sir.
Jean Jereissati -- Chief Executive Officer
OK. Thank you very much to be with us today. To wrap up, I just want to say that I'm very confident about our future. And I could mention three things, three reasons.
Although transformations takes time -- take time and the remaining -- and the environment remains challenging, our 2020 performance shows how fast we can adapt and our agility to get things done in the middle of a transformation. So I was very excited. So it was a year that we kind of did three years in six months. Our portfolio is in a much better place.
We have momentum. So brand power of our portfolio is healthy and growing. Innovation pipeline is strong. And our route to market is in a different place in terms of transformation, digitalization.
So this is -- it will be -- continue to be a competitive advantage edge that we want to continue to bet really digitalizing the platforms and really scaling all these digital efforts in a very quick way. Another thing it is that cash generation remains strong, even though with all the ecosystem collaboration in all the -- so the help that we did with suppliers and customers at some point in time during the pandemic. But in the end, our cash generation remains very strong, and we remain committed to do the right things on the transformation with financial discipline to transform Ambev a better company in the future. So that was pretty much it.
Thank you very much to you all and have a good day.
Operator
[Operator signoff]
Duration: 60 minutes
Call participants:
Jean Jereissati -- Chief Executive Officer
Lucas Lira -- Chief Financial Officer and Investor Relations Officer
Marcelo Recchia -- Credit Suisse -- Analyst
Andre Hachem -- Itau -- Analyst
Thiago Duarte -- BTG Pactual -- Analyst
Lucas Ferreira -- J.P. Morgan -- Analyst
Rob Ottenstein -- Evercore ISI -- Analyst
Olivier Nicolai -- Goldman Sachs -- Analyst
Joao Soarian -- Citi -- Analyst
Joo Soarian -- Citi -- Analyst
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Companhia de Bebidas das Americas (NYSE: ABEV) Q4 2020 Earnings Call Feb 25, 2021, 10:30 a.m. Operator [Operator signoff] Duration: 60 minutes Call participants: Jean Jereissati -- Chief Executive Officer Lucas Lira -- Chief Financial Officer and Investor Relations Officer Marcelo Recchia -- Credit Suisse -- Analyst Andre Hachem -- Itau -- Analyst Thiago Duarte -- BTG Pactual -- Analyst Lucas Ferreira -- J.P. Morgan -- Analyst Rob Ottenstein -- Evercore ISI -- Analyst Olivier Nicolai -- Goldman Sachs -- Analyst Joao Soarian -- Citi -- Analyst Joo Soarian -- Citi -- Analyst More ABEV analysis All earnings call transcripts This article is a transcript of this conference call produced for The Motley Fool. In the core segment, after years of volume decline, we stabilized our brand performance, thanks mainly to the expansion of the 300 ml returnable glass bottles in Moms and pops and the takeaway of our strategy that we implemented. | Operator [Operator signoff] Duration: 60 minutes Call participants: Jean Jereissati -- Chief Executive Officer Lucas Lira -- Chief Financial Officer and Investor Relations Officer Marcelo Recchia -- Credit Suisse -- Analyst Andre Hachem -- Itau -- Analyst Thiago Duarte -- BTG Pactual -- Analyst Lucas Ferreira -- J.P. Morgan -- Analyst Rob Ottenstein -- Evercore ISI -- Analyst Olivier Nicolai -- Goldman Sachs -- Analyst Joao Soarian -- Citi -- Analyst Joo Soarian -- Citi -- Analyst More ABEV analysis All earnings call transcripts This article is a transcript of this conference call produced for The Motley Fool. Companhia de Bebidas das Americas (NYSE: ABEV) Q4 2020 Earnings Call Feb 25, 2021, 10:30 a.m. And finally, we delivered a strong net revenue per hectoliter, thanks to a successful implementation of our price strategy that was built around a more flexible approach, a positive mix, driven mainly by innovation, the innovation performance and revenue management initiatives, including a smarter occasion based promotional activity that it proves very efficient. | Operator [Operator signoff] Duration: 60 minutes Call participants: Jean Jereissati -- Chief Executive Officer Lucas Lira -- Chief Financial Officer and Investor Relations Officer Marcelo Recchia -- Credit Suisse -- Analyst Andre Hachem -- Itau -- Analyst Thiago Duarte -- BTG Pactual -- Analyst Lucas Ferreira -- J.P. Morgan -- Analyst Rob Ottenstein -- Evercore ISI -- Analyst Olivier Nicolai -- Goldman Sachs -- Analyst Joao Soarian -- Citi -- Analyst Joo Soarian -- Citi -- Analyst More ABEV analysis All earnings call transcripts This article is a transcript of this conference call produced for The Motley Fool. Companhia de Bebidas das Americas (NYSE: ABEV) Q4 2020 Earnings Call Feb 25, 2021, 10:30 a.m. Beer volumes continued to recover and grew year over year in seven out of our top 10 markets, led by our double-digit growth in Brazil, in Chile, Guatemala and Paraguay. | Operator [Operator signoff] Duration: 60 minutes Call participants: Jean Jereissati -- Chief Executive Officer Lucas Lira -- Chief Financial Officer and Investor Relations Officer Marcelo Recchia -- Credit Suisse -- Analyst Andre Hachem -- Itau -- Analyst Thiago Duarte -- BTG Pactual -- Analyst Lucas Ferreira -- J.P. Morgan -- Analyst Rob Ottenstein -- Evercore ISI -- Analyst Olivier Nicolai -- Goldman Sachs -- Analyst Joao Soarian -- Citi -- Analyst Joo Soarian -- Citi -- Analyst More ABEV analysis All earnings call transcripts This article is a transcript of this conference call produced for The Motley Fool. Companhia de Bebidas das Americas (NYSE: ABEV) Q4 2020 Earnings Call Feb 25, 2021, 10:30 a.m. So the price is pretty much there when we connect with inflation and relativities the mix is -- continues to be strong and the occasion based promotion activities, if we will be more nimble. |
28259.0 | 2021-02-19 00:00:00 UTC | 7 Penny Stock Companies That Actually Make Money | ABEV | https://www.nasdaq.com/articles/7-penny-stock-companies-that-actually-make-money-2021-02-19 | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
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That applies to our recent penny stock bubble as well. Hundreds of companies in this risky section of the market soared in December and January as day traders endeavored to out-trade the pros on Wall Street.
But the only reason many of these stocks surged higher was because they were penny stocks. Full stop. Low priced companies in almost every sector of the market ripped higher, irrespective of company fundamentals or the economy.
Now the penny stock bubble is bursting and its victims are learning the same lesson: if a company can’t turn a profit, the market will inevitably catch up with it. Many of these companies are losing significant amounts of money. That’s the reason their shares are so low priced in the first place.
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Here are 7 penny stocks to buy that actually make money:
Natwest Group (NYSE:NWG)
Banco Bradesco (NYSE:BBD)
BGC Partners (NASDAQ:BGCP)
Yamana Gold (NYSE:AUY)
Ambev (NYSE:ABEV)
Catalyst Pharmaceuticals (NASDAQ:CPRX)
W&T Offshore (NYSE:WTI)
Despite their reputation, not all penny stocks are destined for bankruptcy. Some companies with low shares prices may do very well in the long-term… if they can make a profit. Let’s take a look at some of the best.
Penny Stock Companies That Are Profitable: Natwest Group (NWG)
Chart by TradingView
NatWest Group is a banking conglomerate providing banking and financial products to customers in the United Kingdom, the United States, Europe and internationally.
NatWest has reported a profit in each of the past four quarters. In the most recent quarter, ending September 2020, that profit was just one cent per share. But it was a profit.
In the quarter ended June 2020, it reported 22 cents a share. The quarters ended in March 2020 and December 2019 saw the company earn 6 cents and 30 cents, respectively.
For this year, consensus Wall Street estimates see NatWest earning 38 cents a share. For 2022, that’s predicted to increase to 53 cents a share. There’s no guarantee NatWest will one day appreciate and graduate from penny stock status, but being profitable is a good start.
Banco Bradesco (BBD)
Chart by TradingView
Banco Bradesco is based in Brazil, providing a wide range of banking products and financial services.
In 2020, BBD posted results of 42 cents a share. Analysts predict that this will grow to 53 cents this year, 57 cents next year and 61 cents for fiscal 2023.
This company is followed by three of the biggest Wall Street Investment Banks. Bank of America, JP Morgan and Morgan Stanley all have analysts producing research about Banco Bradesco.
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They believe BBD shares are undervalued and all three have it rated as a ‘strong buy.’ The target price is $7, about 45% higher than the current price level.
BG Partners (BGCP)
Chart by TradingView
BGC Partners is a brokerage firm and financial technology company. It offers various brokerage products and services, including securities such as bonds, foreign exchange, equities, commodities and futures.
This company has benefited from the boom the stock market. As the market rallies, trading volume increases and that’s where BGC makes its money. As you can see on the chart above, shares have rallied from levels around $2.50 in November to levels around $4.50 at present.
The company is expected to report earnings of around 56 cents are share when it posts its full year 2020 results. Analysts expect large growth from there.
For this year, estimates are 69 cents a share. Full year estimates for 2022 are 77 cents. In 2023, that’s expected to grow to 95 cents a share.
Yamana Gold (AUY)
Chart by TradingView
Yamana Gold is a gold and silver miner and producer. It has land positions throughout the Americas. It has holdings in Canada, Brazil, Chile and Argentina.
As you can see on the chart above, AUY stock dropped back below the $5 level last month. That puts it back into penny stock territory.
For fiscal 2020, the company reported earnings of 24 cents a share. The company is expected to grow over the coming years. Annual estimates for this year are 38 cents a share and 36 cents per share for fiscal 2022.
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Five Wall Street firms follow Yamana and they all believe that the shares are undervalued. All five have buy ratings on AUY, with an average target price of $7.25, more than 50% higher than where it currently trades.
Ambev (ABEV)
Chart by TradingView
Ambev S.A. produces and sells beer and carbonated soft drinks throughout the Americas.
Even in the worst times, people still buy alcoholic beverages and this has benefited Ambev, which has been able to remain profitable over the past four quarters. In the fiscal quarter ended December 2019 it reported earnings of 7 cents a share. In the March 2020 quarter, that was 2 cents. The next two quarters were the ones that ended in June and September 2020. The company earned 1 and then 3 cents, respectively.
For the full year 2020, analysts predict Ambev will earn 10 cents a share. This year that will increase to 13 cents.
14 research firms follow the company. The average rating is a hold. However, the average target price is about $3.50, more than 20% higher than where shares are currently trading.
Catalyst Pharmaceuticals (CPRX)
Chart by TradingView
Catalyst Pharmaceuticals is a biopharmaceutical company. It focuses on developing and commercializing therapies for people with rare neuromuscular and neurological diseases. Its customers are based in the United States.
In the quarter that ended in September 2020, the company reported earnings of 11 cents a share. In the June 2020 quarter it was 9 cents a share. Estimates for full year 2020 earnings are around 39 cents a share for Catalyst.
This year, it is estimated that the company will earn about the same amount, around 39 cents. But in 2022, that’s expected to grow to 46 cents a share.
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The Wall Street firms that follow Catalyst and provide research think the stock is undervalued. All five of the firms have it rated “strong buy” with an average target price of $7.25, 75% higher than where it is currently trading.
W&T Offshore (WTI)
Chart by TradingView
W&T Offshore is an independent oil and natural gas producer. It acquires, explores and develops oil and natural gas properties in the Gulf of Mexico.
Last year, many companies in this industry lost money. WTI too, reported a loss of 26 cents a share. This was because oil prices had fallen significantly from the prior years levels around $67 a barrel.
But now the oil markets are soaring. The price of a barrel of oil was $36 in early November. Since then it has gained more than 65%. It is currently trading around $60 a barrel.
Wall Street thinks that these higher prices will return the company to profitability. WTI is expected to be about breakeven this year. Estimates are for one cent in earnings per share. But at the end of 2022, analysts predict it will report 25 cents a share in annual earnings.
At the time of this publication, Mark Putrino did not have any positions (either directly or indirectly) in any of the aforementioned securities.
The post 7 Penny Stock Companies That Actually Make Money appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | 7 Overvalued Stocks Investors Just Don’t Get Tired Of Here are 7 penny stocks to buy that actually make money: Natwest Group (NYSE:NWG) Banco Bradesco (NYSE:BBD) BGC Partners (NASDAQ:BGCP) Yamana Gold (NYSE:AUY) Ambev (NYSE:ABEV) Catalyst Pharmaceuticals (NASDAQ:CPRX) W&T Offshore (NYSE:WTI) Despite their reputation, not all penny stocks are destined for bankruptcy. Ambev (ABEV) Chart by TradingView Ambev S.A. produces and sells beer and carbonated soft drinks throughout the Americas. Hundreds of companies in this risky section of the market soared in December and January as day traders endeavored to out-trade the pros on Wall Street. | 7 Overvalued Stocks Investors Just Don’t Get Tired Of Here are 7 penny stocks to buy that actually make money: Natwest Group (NYSE:NWG) Banco Bradesco (NYSE:BBD) BGC Partners (NASDAQ:BGCP) Yamana Gold (NYSE:AUY) Ambev (NYSE:ABEV) Catalyst Pharmaceuticals (NASDAQ:CPRX) W&T Offshore (NYSE:WTI) Despite their reputation, not all penny stocks are destined for bankruptcy. Ambev (ABEV) Chart by TradingView Ambev S.A. produces and sells beer and carbonated soft drinks throughout the Americas. Penny Stock Companies That Are Profitable: Natwest Group (NWG) Chart by TradingView NatWest Group is a banking conglomerate providing banking and financial products to customers in the United Kingdom, the United States, Europe and internationally. | 7 Overvalued Stocks Investors Just Don’t Get Tired Of Here are 7 penny stocks to buy that actually make money: Natwest Group (NYSE:NWG) Banco Bradesco (NYSE:BBD) BGC Partners (NASDAQ:BGCP) Yamana Gold (NYSE:AUY) Ambev (NYSE:ABEV) Catalyst Pharmaceuticals (NASDAQ:CPRX) W&T Offshore (NYSE:WTI) Despite their reputation, not all penny stocks are destined for bankruptcy. Ambev (ABEV) Chart by TradingView Ambev S.A. produces and sells beer and carbonated soft drinks throughout the Americas. Analysts predict that this will grow to 53 cents this year, 57 cents next year and 61 cents for fiscal 2023. | 7 Overvalued Stocks Investors Just Don’t Get Tired Of Here are 7 penny stocks to buy that actually make money: Natwest Group (NYSE:NWG) Banco Bradesco (NYSE:BBD) BGC Partners (NASDAQ:BGCP) Yamana Gold (NYSE:AUY) Ambev (NYSE:ABEV) Catalyst Pharmaceuticals (NASDAQ:CPRX) W&T Offshore (NYSE:WTI) Despite their reputation, not all penny stocks are destined for bankruptcy. Ambev (ABEV) Chart by TradingView Ambev S.A. produces and sells beer and carbonated soft drinks throughout the Americas. Banco Bradesco (BBD) Chart by TradingView Banco Bradesco is based in Brazil, providing a wide range of banking products and financial services. |
28260.0 | 2021-01-22 00:00:00 UTC | Friday's ETF Movers: KRE, ILF | ABEV | https://www.nasdaq.com/articles/fridays-etf-movers%3A-kre-ilf-2021-01-22 | nan | nan | In trading on Friday, the SPDR— S&P— Regional Banking ETF is outperforming other ETFs, up about 0.7% on the day. Components of that ETF showing particular strength include shares of Silvergate Capital, up about 12.1% and shares of Svb Financial Group, up about 6.3% on the day.
And underperforming other ETFs today is the iShares Latin America 40 ETF, off about 2.6% in Friday afternoon trading. Among components of that ETF with the weakest showing on Friday were shares of Ambev, lower by about 4.6%, and shares of Banco Santander, lower by about 4.4% on the day.
VIDEO: Friday's ETF Movers: KRE, ILF
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Components of that ETF showing particular strength include shares of Silvergate Capital, up about 12.1% and shares of Svb Financial Group, up about 6.3% on the day. Among components of that ETF with the weakest showing on Friday were shares of Ambev, lower by about 4.6%, and shares of Banco Santander, lower by about 4.4% on the day. VIDEO: Friday's ETF Movers: KRE, ILF The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Components of that ETF showing particular strength include shares of Silvergate Capital, up about 12.1% and shares of Svb Financial Group, up about 6.3% on the day. Among components of that ETF with the weakest showing on Friday were shares of Ambev, lower by about 4.6%, and shares of Banco Santander, lower by about 4.4% on the day. VIDEO: Friday's ETF Movers: KRE, ILF The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In trading on Friday, the SPDR— S&P— Regional Banking ETF is outperforming other ETFs, up about 0.7% on the day. Components of that ETF showing particular strength include shares of Silvergate Capital, up about 12.1% and shares of Svb Financial Group, up about 6.3% on the day. Among components of that ETF with the weakest showing on Friday were shares of Ambev, lower by about 4.6%, and shares of Banco Santander, lower by about 4.4% on the day. | In trading on Friday, the SPDR— S&P— Regional Banking ETF is outperforming other ETFs, up about 0.7% on the day. Components of that ETF showing particular strength include shares of Silvergate Capital, up about 12.1% and shares of Svb Financial Group, up about 6.3% on the day. And underperforming other ETFs today is the iShares Latin America 40 ETF, off about 2.6% in Friday afternoon trading. |
28261.0 | 2021-01-21 00:00:00 UTC | First Week of March 19th Options Trading For Ambev (ABEV) | ABEV | https://www.nasdaq.com/articles/first-week-of-march-19th-options-trading-for-ambev-abev-2021-01-21 | nan | nan | Investors in Ambev SA (Symbol: ABEV) saw new options begin trading this week, for the March 19th expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the ABEV options chain for the new March 19th contracts and identified the following put contract of particular interest.
The put contract at the $2.50 strike price has a current bid of 5 cents. If an investor was to sell-to-open that put contract, they are committing to purchase the stock at $2.50, but will also collect the premium, putting the cost basis of the shares at $2.45 (before broker commissions). To an investor already interested in purchasing shares of ABEV, that could represent an attractive alternative to paying $2.98/share today.
Because the $2.50 strike represents an approximate 16% discount to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the put contract would expire worthless. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 80%. Stock Options Channel will track those odds over time to see how they change, publishing a chart of those numbers on our website under the contract detail page for this contract. Should the contract expire worthless, the premium would represent a 2.00% return on the cash commitment, or 12.82% annualized — at Stock Options Channel we call this the YieldBoost.
Below is a chart showing the trailing twelve month trading history for Ambev SA, and highlighting in green where the $2.50 strike is located relative to that history:
The implied volatility in the put contract example above is 156%.
Meanwhile, we calculate the actual trailing twelve month volatility (considering the last 252 trading day closing values as well as today's price of $2.98) to be 61%. For more put and call options contract ideas worth looking at, visit StockOptionsChannel.com.
Top YieldBoost Puts of the S&P 500 »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Investors in Ambev SA (Symbol: ABEV) saw new options begin trading this week, for the March 19th expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the ABEV options chain for the new March 19th contracts and identified the following put contract of particular interest. To an investor already interested in purchasing shares of ABEV, that could represent an attractive alternative to paying $2.98/share today. | Investors in Ambev SA (Symbol: ABEV) saw new options begin trading this week, for the March 19th expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the ABEV options chain for the new March 19th contracts and identified the following put contract of particular interest. To an investor already interested in purchasing shares of ABEV, that could represent an attractive alternative to paying $2.98/share today. | At Stock Options Channel, our YieldBoost formula has looked up and down the ABEV options chain for the new March 19th contracts and identified the following put contract of particular interest. Investors in Ambev SA (Symbol: ABEV) saw new options begin trading this week, for the March 19th expiration. To an investor already interested in purchasing shares of ABEV, that could represent an attractive alternative to paying $2.98/share today. | At Stock Options Channel, our YieldBoost formula has looked up and down the ABEV options chain for the new March 19th contracts and identified the following put contract of particular interest. Investors in Ambev SA (Symbol: ABEV) saw new options begin trading this week, for the March 19th expiration. To an investor already interested in purchasing shares of ABEV, that could represent an attractive alternative to paying $2.98/share today. |
28262.0 | 2021-01-04 00:00:00 UTC | 8 Cheap Stocks to Snap Up for the New Year | ABEV | https://www.nasdaq.com/articles/8-cheap-stocks-to-snap-up-for-the-new-year-2021-01-04 | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Prior to the novel coronavirus disaster, you would have thought the market would have imploded if I had told you that a pandemic would temporarily shutter major economies throughout the world and kill more than 325,000 as of Christmas day. Yet it has been a brilliant time to invest. What’s more, many cheap stocks have benefitted tremendously from the enthusiasm. But can it continue moving higher?
I’m going to give a caveat that I’ve provided in my recent stories: I’m not 100% sure if the enthusiasm is sustainable. While assessing the reasons why is a dissertation onto itself, one of the biggest cautionary factors is the erosion of M2 money stock velocity. In a nutshell, money velocity indicates the rate of circulation of each unit of currency in the economy. And right now, this circulation rate is at all-time lows.
Therefore, I don’t believe it matters in the long run whether President Trump signed the second stimulus bill. If money velocity is low, the extra money that’s pumped in will more likely hit people’s savings accounts rather than be circulated in the economy. But I could be wrong about this, which is why you may want to consider cheap stocks to buy.
In addition, there’s an argument to be made that if you’re going to bet on equities making another run higher, you should look at low-priced names with high-powered potential. That’s because publicly traded companies that have already enjoyed massive returns — you know, the usual suspects — may be due for a sharp pullback as early investors cash out.
7 Cheap Stocks That Can’t Wait for 2021
Further, cheap stocks tend to be contrarian bets. As a result, many people are not considering them, putting these securities relatively under the radar. Thus, with the right catalysts, you can potentially enjoy robust upside with these cheap stocks to buy.
Ford (NYSE:F)
ADT (NYSE:ADT)
Ambev (NYSE:ABEV)
Accuray (NASDAQ:ARAY)
China Distance Education (NYSE:DL)
Apartment Income REIT (NYSE:AIV)
Teekay Corporation (NYSE:TK)
HIVE Blockchain Technologies (OTCMKTS:HVBTF)
On a final note before we dive into the details, I think it pays to be more on the cautious approach no matter your investing methodology. We’ve got many variables heading our way and simply assuming that we’ll enjoy gravity-defying returns would probably not be wise. However, if you’ve got the speculative itch, these cheap stocks may give you the best chance for success.
Ford (F)
F) logo on a steering wheel." width="300" height="169">
Source: Proxima Studio / Shutterstock.com
For the longest time, I’ve been a harsh critic of American automakers like Ford. Although I’m proud to be a naturalized American citizen — because unlike immutable characteristics like race or gender, I had a choice in the matter — I’ve never liked American cars. They’re too … American. Surely, some of you know what I mean.
Recently, though, I’ve changed my mind. No, I don’t think I’ll ever buy an American car — that would probably involve a significant amount of inebriation. But I do believe in F stock. You see, Americans don’t know how to make sedans, but we know how to manufacture appealing trucks and SUVs. In my opinion, Ford’s foray into electric vehicles with the Mach-E is the perfect move for the company.
For starters, it breaks up the consumer market hegemony of Tesla (NASDAQ:TSLA). Now, we’ll really see how the EV dominator responds with some friendly (or not so friendly) competition. Further, the Mach-E’s gorgeous good looks wrapped around the svelte frame of a modern SUV will likely attract new customers.
Sure, the criticism that Ford branded the Mach-E a Mustang is somewhat distracting for F stock. But I think most consumers will come around to it. At the end of the day, it’s just business. And finally, Ford is making good business sense, making it one of the better cheap stocks to buy.
ADT (ADT)
ADT) home security sign sitting outside of a building" width="300" height="169">
Source: JHVEPhoto/Shutterstock.com
Among the cheap stocks on this list, security specialist ADT is both an obvious and contrarian play. As you know, months after the novel coronavirus breached our borders, social unrest became the next epidemic. Of course, we can debate the validity of the unrest and the events leading up to the violence. But for most normal folks that just want to live their lives, the collective outbursts certainly helped the case for ADT stock.
Indeed, its technical chart doesn’t lie. Following Memorial Day weekend, ADT stock conspicuously jumped higher. Later in August, shares were up briefly in double digits. But since then, ADT has steadily calmed down as tensions cooled. There was a noticeable uptick as we headed toward a contentious election day, but this enthusiasm likewise gradually waned.
A major reason for the decline is that overall, crime has gone down nationally during the Covid-19 crisis. With fewer people out and about, less opportunity for trouble existed. Additionally, more people were working from home, which meant a decrease in residential burglaries.
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But the contrarian case for ADT comes up in that this work-from-home narrative may not last forever. Plus, during the Great Recession, crime increased due presumably to financial desperation. Therefore, don’t be too quick to ignore ADT on your wish list of cheap stocks to buy.
Ambev (ABEV)
ABEV)" width="300" height="169">
Source: Anton Garin / Shutterstock.com
For alcoholic-beverage firms, the Covid-19 crisis represented a double-edged sword. On one hand, the pandemic destroyed personal incentive to go out to restaurants and bars, thus killing lucrative revenue channels. Even if those few brave souls didn’t give a rat’s rear end about the coronavirus, many jurisdictions imposed severe lockdown measures.
On the other hand, grocery sales of alcoholic beverages increased significantly as in-home entertainment became the only feasible (and safest) solution for imbibing. Further, companies like Boston Beer Company (NYSE:SAM) pivoted to hard seltzer, a drink category increasingly becoming the millennial’s preferred choice. But SAM shares are priced in four-digit territory.
However, competitor Ambev is technically one of the cheapest among cheap stocks.
Priced at a little over $3 a pop, ABEV stock is ideal for discount divers looking for a cynical play off the global coronavirus surge. Primarily operating in the Latin American region, Ambev doesn’t have the underlying stability of a Boston Beer. Of course, a higher risk profile suggests a higher reward potential, which should attract speculators.
Better yet, ABEV stock has been steadily moving higher since late October. This might be due to the assumed resumption of normal diplomatic relations under the incoming administration of President-elect Joe Biden.
Accuray (ARAY)
Source: Shutterstock
With the Covid-19 crisis obviously being a health threat unprecedented in modern times (at least from our perspective), the broader pharmaceutical and biotechnology sectors experienced substantial interest. Further, when the federal government greenlit Operation Warp Speed, many organizations, some of which were on the brink of complete collapse, became hot commodities on Wall Street.
But there’s another side to this tale. Due to the pandemic placing enormous pressure on our healthcare infrastructure, services for those with long-term conditions — such as cancer — faced massive disruption. Specializing in advanced radiation therapy that covers even the toughest cases, ARAY stock had an auspicious start to the year. Of course, that came crashing down once the coronavirus outbreak rippled throughout the world.
Since the March doldrums, though, ARAY stock has been moving steadily higher. Shares further got another lift when it became apparent — well, to most media outlets — that Joe Biden will be the next President. Presumably, sentiment for Accuray improved under the assumption that normal diplomacy will return to the White House.
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Still, the sharp rise in Covid-19 cases have somewhat dampened this rally. But if you’re willing to ride out some volatility, this is one of the cheap stocks that could fly once we return to normal or some semblance of it.
China Distance Education (DL)
Source: Travelerpix / Shutterstock.com
It might be a commonly cited stereotype but that still doesn’t take away from the fact that China takes its education system very seriously. More impressively, the Asian juggernaut has the performance stats to back up its investment dollars (or I should say yuans).
According to the 2018 results of the Program for International Student Assessment, Chinese students “far outperformed their international peers in a test of reading, math, and science skills.” On the flip side, American students are performing poorly in math. As well, only an alarming 14% “were able to reliably distinguish fact from opinion in reading tests.”
Because of this culture of innovation, I’d take a look at China Distance Education. Billed as a “leading provider of online education in China focusing on professional education, helping professionals who aim to obtain professional licenses, satisfy continuing education requirements to maintain their licenses and enhance their practical job skills,” DL stock will probably become more relevant as generation after generation of highly educated Chinese students enter the workforce.
As well, DL stock enjoys a fortuitous tailwind from the coronavirus pandemic, with everyone pivoting to work-from-home platforms. Granted, there’s a karma effect associated with China Distance Education. But if you can get over that, DL is a worthwhile idea among cheap stocks to buy.
Apartment Income REIT (AIV)
Source: Shutterstock
As a real-estate investment trust focused on the development and redevelopment of apartment complexes, Apartment Income REIT is a mixed bag in terms of risk and reward. Therefore, I would classify AIV stock as one of the riskiest ideas among cheap stocks to buy. Given the broader economic circumstances, it’s extremely difficult to determine where we’re headed next.
On a quick note, AIV stock appears to have lost roughly 87% of its market value. However, this is a technicality involving the original firm Apartment and Investment Management (AIMCO) splitting into two businesses. The other unit, Apartment Income REIT (NYSE:AIR), will run apartment assets that were part of AIMCO’s portfolio.
Okay, so AIV isn’t cratering as it appears, but is there a viable business in this space? Clearly, two sides of the argument exist. On one hand, there’s a looming eviction crisis that could see 40 million Americans homeless if the government doesn’t find a feasible long-term solution. That could send a deflationary impact to the broader residential market, which would not be great for AIV.
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On the other hand, Apartment Income REIT focuses on highly popular areas such as Boston, Miami and San Diego. If you’re in the optimistic camp, you may want to give AIV a shot, but only with “dumb” money.
Teekay Corporation (TK)
Source: Shutterstock
If you’ve followed my work throughout this year, you’ll know that I don’t have much faith in the fossil fuel industry. Sure, most of the impacted companies now feature incredibly deflated valuations, which on paper make them discounted cheap stocks. However, it’s fair to wonder how long the pandemic will last.
But it’s not just about the health crisis. Instead, U.S. transportation statistics have been gutted. For instance, more people have decided to stay at home this year relative to 2019. As well, the number of trips that are 25 miles in distance or less have declined dramatically year over year. With people working from home and the pandemic frankly scaring them into their living rooms, there doesn’t seem to be much upside for Teekay Corporation and similar companies.
Nevertheless, at some point, this nightmare must end. If you believe that day will come sooner than the experts believe, TK stock could be a standout opportunity. Of course, it’s also outrageously risky, especially with the new strain of the virus spreading throughout the world. Potentially, this could spark another round of extended global lockdowns, which might kill demand for the petroleum-based products that Teekay ships.
However, we’ve all got to get around somehow. If you can stomach volatility, TK stock could reward you handsomely following this mess.
HIVE Blockchain Technologies (HVBTF)
Source: Marko Aliaksandr/ShutterStock.com
As you know, one of the hottest topics on Wall Street doesn’t involve cheap stocks but rather cryptocurrencies. This digital market is breaking all kinds of records, and with its ease of participation — particularly its 24/7/365 open access — I’m confident that the sector will continue to astound. However, I’ll freely admit that because of virtual currencies’ Wild West nature, it’s not for everyone.
However, if you don’t mind volatility but prefer your red ink on a traditional trading platform, you might want to explore HIVE Blockchain Technologies. Rather than focusing on a particular digital coin, HIVE specializes in crypto mining. Basically, this is the process where crypto transactions are verified on the underlying blockchain system. For the extensive computing power necessary for verification, miners receive cryptocurrencies as a reward.
The above very briefly summarizes the mining process. There is a mountain of literature that goes into greater detail if you want to explore the minutia. But what’s interesting about HVBTF stock is that the underlying company operates mining facilities in Iceland and Sweden.
Naturally, these are cold parts of the world, which is perfect for crypto miners. Indeed, mining generates so much heat that you can technically use your equipment to heat your home. Bravo! That’s brilliant capitalism.
7 Cheap Stocks That Can’t Wait for 2021
Nevertheless, you don’t want to go too crazy with HVBTF stock. This is an over-the-counter name after all. But if you’ve got some speculation money lying around, this is one of those dirt-cheap stocks that can really pay off.
On the date of publication, Josh Enomoto held a long position in F stock.
A former senior business analyst for Sony Electronics, Josh Enomoto has helped broker major contracts with Fortune Global 500 companies. Over the past several years, he has delivered unique, critical insights for the investment markets, as well as various other industries including legal, construction management, and healthcare.
The post 8 Cheap Stocks to Snap Up for the New Year appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Ambev (NYSE:ABEV) Accuray (NASDAQ:ARAY) China Distance Education (NYSE:DL) Apartment Income REIT (NYSE:AIV) Teekay Corporation (NYSE:TK) HIVE Blockchain Technologies (OTCMKTS:HVBTF) On a final note before we dive into the details, I think it pays to be more on the cautious approach no matter your investing methodology. Ambev (ABEV) ABEV)" width="300" height="169"> Source: Anton Garin / Shutterstock.com For alcoholic-beverage firms, the Covid-19 crisis represented a double-edged sword. Priced at a little over $3 a pop, ABEV stock is ideal for discount divers looking for a cynical play off the global coronavirus surge. | Ambev (NYSE:ABEV) Accuray (NASDAQ:ARAY) China Distance Education (NYSE:DL) Apartment Income REIT (NYSE:AIV) Teekay Corporation (NYSE:TK) HIVE Blockchain Technologies (OTCMKTS:HVBTF) On a final note before we dive into the details, I think it pays to be more on the cautious approach no matter your investing methodology. Ambev (ABEV) ABEV)" width="300" height="169"> Source: Anton Garin / Shutterstock.com For alcoholic-beverage firms, the Covid-19 crisis represented a double-edged sword. Priced at a little over $3 a pop, ABEV stock is ideal for discount divers looking for a cynical play off the global coronavirus surge. | Ambev (NYSE:ABEV) Accuray (NASDAQ:ARAY) China Distance Education (NYSE:DL) Apartment Income REIT (NYSE:AIV) Teekay Corporation (NYSE:TK) HIVE Blockchain Technologies (OTCMKTS:HVBTF) On a final note before we dive into the details, I think it pays to be more on the cautious approach no matter your investing methodology. Ambev (ABEV) ABEV)" width="300" height="169"> Source: Anton Garin / Shutterstock.com For alcoholic-beverage firms, the Covid-19 crisis represented a double-edged sword. Priced at a little over $3 a pop, ABEV stock is ideal for discount divers looking for a cynical play off the global coronavirus surge. | Ambev (NYSE:ABEV) Accuray (NASDAQ:ARAY) China Distance Education (NYSE:DL) Apartment Income REIT (NYSE:AIV) Teekay Corporation (NYSE:TK) HIVE Blockchain Technologies (OTCMKTS:HVBTF) On a final note before we dive into the details, I think it pays to be more on the cautious approach no matter your investing methodology. Ambev (ABEV) ABEV)" width="300" height="169"> Source: Anton Garin / Shutterstock.com For alcoholic-beverage firms, the Covid-19 crisis represented a double-edged sword. Priced at a little over $3 a pop, ABEV stock is ideal for discount divers looking for a cynical play off the global coronavirus surge. |
28263.0 | 2020-12-23 00:00:00 UTC | After Hours Most Active for Dec 23, 2020 : DDD, MDLA, VIAC, AAPL, ABEV, AFL, GPS, PCG, NYMT, SBGI, PAGP, DISH | ABEV | https://www.nasdaq.com/articles/after-hours-most-active-for-dec-23-2020-%3A-ddd-mdla-viac-aapl-abev-afl-gps-pcg-nymt-sbgi | nan | nan | The NASDAQ 100 After Hours Indicator is down -3.86 to 12,649.28. The total After hours volume is currently 70,894,765 shares traded.
The following are the most active stocks for the after hours session:
3D Systems Corporation (DDD) is -0.018 at $12.20, with 19,259,826 shares traded. DDD's current last sale is 152.53% of the target price of $8.
Medallia, Inc. (MDLA) is -0.015 at $34.55, with 5,232,431 shares traded. As reported by Zacks, the current mean recommendation for MDLA is in the "buy range".
ViacomCBS Inc. (VIAC) is +0.0375 at $35.99, with 4,569,867 shares traded. As reported in the last short interest update the days to cover for VIAC is 10.755232; this calculation is based on the average trading volume of the stock.
Apple Inc. (AAPL) is -0.12 at $130.84, with 3,980,315 shares traded. As reported by Zacks, the current mean recommendation for AAPL is in the "buy range".
Ambev S.A. (ABEV) is unchanged at $3.02, with 3,603,471 shares traded. ABEV's current last sale is 100.67% of the target price of $3.
Aflac Incorporated (AFL) is unchanged at $43.53, with 3,012,627 shares traded. AFL's current last sale is 89.75% of the target price of $48.5.
Gap, Inc. (The) (GPS) is -0.12 at $20.58, with 2,355,153 shares traded. GPS's current last sale is 85.75% of the target price of $24.
Pacific Gas & Electric Co. (PCG) is -0.0498 at $12.46, with 2,204,046 shares traded. PCG's current last sale is 89% of the target price of $14.
New York Mortgage Trust, Inc. (NYMT) is -0.01 at $3.67, with 1,942,957 shares traded. NYMT's current last sale is 97.87% of the target price of $3.75.
Sinclair Broadcast Group, Inc. (SBGI) is -0.3 at $31.20, with 1,785,069 shares traded. SBGI's current last sale is 115.56% of the target price of $27.
Plains GP Holdings, L.P. (PAGP) is unchanged at $9.24, with 1,528,366 shares traded. As reported by Zacks, the current mean recommendation for PAGP is in the "buy range".
DISH Network Corporation (DISH) is -0.09 at $30.88, with 1,130,866 shares traded. As reported by Zacks, the current mean recommendation for DISH is in the "buy range".
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Ambev S.A. (ABEV) is unchanged at $3.02, with 3,603,471 shares traded. ABEV's current last sale is 100.67% of the target price of $3. As reported in the last short interest update the days to cover for VIAC is 10.755232; this calculation is based on the average trading volume of the stock. | Ambev S.A. (ABEV) is unchanged at $3.02, with 3,603,471 shares traded. ABEV's current last sale is 100.67% of the target price of $3. The total After hours volume is currently 70,894,765 shares traded. | Ambev S.A. (ABEV) is unchanged at $3.02, with 3,603,471 shares traded. ABEV's current last sale is 100.67% of the target price of $3. The total After hours volume is currently 70,894,765 shares traded. | Ambev S.A. (ABEV) is unchanged at $3.02, with 3,603,471 shares traded. ABEV's current last sale is 100.67% of the target price of $3. GPS's current last sale is 85.75% of the target price of $24. |
28264.0 | 2020-12-09 00:00:00 UTC | 7 Sensible Penny Stocks To Buy For Value In December | ABEV | https://www.nasdaq.com/articles/7-sensible-penny-stocks-to-buy-for-value-in-december | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Everyone loves a good deal and that certainly includes investors. And preconceptions of what makes deals good go a long way toward explaining why so many market participants are consistently fond of penny stocks.
The logic, flawed as it may be, usually goes along the lines of, “if a stock is cheap by price, it must also be a good value.” Then there’s the familiar notion of being able to own more shares in a company by accessing penny stocks.
Currently, there are more than 1,000 U.S.-listed stocks with price tags of $5 and less trading on major exchanges. That doesn’t include a vast universe, likely thousands, of penny stocks trading over the counter.
7 Tech Stocks To Buy For A Very Happy Holiday Season
With that in mind, here are 7 sensible penny stocks to buy for value in December:
Full House Resorts (NASDAQ:FLL)
Banco Santander (NYSE:SAN)
Nokia (NYSE:NOK)
Sundial Growers (NASDAQ:SNDL)
Liberty TripAdvisor (NASDAQ:LTRPA)
Transocean (NYSE:RIG)
Ambev (NYSE:ABEV)
Investors should bear in mind the vast difference between being cheap and being of good value. And while many penny stocks fit the bill for the former, plenty of these names are legitimate value plays.
Penny Stocks To Buy: Full House Resorts (FFL)
Source: Maridav/Shutterstock, Inc.
With a market capitalization of just $101.1 million, Full House is one of the smallest publicly traded casino stocks in the U.S. But this name has mighty potential.
This Nevada-based company operates just a handful of venues, but investors shouldn’t dismiss this penny stock based solely on its diminutive portfolio. In the week ending December 4, FLL stock surged 11.24%, extending its one-month gain to 39.26%.
That’s a lot of action in a short time. However, investors may not be too late to the Full House party. One analyst theorizes that if the company is successful in procuring a license to open a casino in Waukegan, Ill., that alone could be worth $4.81 a share in equity value. That’s well above the $3.76 handle the stock closed at last week.
Combine the company’s growing sports betting footprint, which includes exposure to the fast-growing markets of Colorado and Indiana, and there’s a credible near- to medium-term path for FLL stock to get to $7, according to Roth Capital analyst David Bain.
Interestingly, Bain’s $7 price target doesn’t include the Illinois possibility, so it can be said FLL stock could eventually be a $12 stock, implying it’d more than triple from current levels.
Banco Santander (SAN)
SAN) logo on building" width="300" height="169">
Source: chrisdorney / Shutterstock.com
Spanish banking giant Banco Santander qualifies as one of the more interesting sub-$5 names out there, if for no other reason than that it has a market capitalization of $56.88 billion. And this is another hot penny stock, surging almost 75% over the past month.
Obviously there are issues here, as the share price indicates. SAN stock is being clipped on multiple fronts, including weakness in the Spanish economy caused by the novel coronavirus pandemic and low interest rates in the U.S., where it has a presence in the Northeast and Mid-Atlantic regions.
The company is conserving cash via layoffs and branch closures, unpleasant but necessary moves. In better news, the bank is resisting mergers and acquisitions, opting to focus on the faster-growing fintech industry.
7 Tech Stocks To Buy For A Very Happy Holiday Season
Any material uptick in the Eurozone economy would benefit SAN stock, as the lender operates across the region. While investors wait, there is a decent 3.26% dividend yield to take in.
Nokia (NOK)
NOK) logo with a mobile phone featuring the Nokia logo on its screen in the foreground" width="300" height="169">
Source: rafapress / Shutterstock.com
With a market capitalization north of $22 billion, Finnish telecom gear maker Nokia is another example of small price tag on a not-so-small company.
Nokia is also an example of a company that tries investors’ patience. Entering 2020, the Nokia narrative centered its presence in the 5G universe. Indeed, the company is “still there,” but continues vexing investors even as the 5G rollout moves forward.
Nokia’s next act involves a gambit to autonomize its various business units, but this is a longer-ranging scheme that will take sometime to pay dividends, if it ever does. In the meantime, NOK stock is technically challenged, indicating that only highly risk-tolerant investors should inquire within.
Sundial Growers (SNDL)
Source: Shutterstock
Sundial Growers is a Canadian cannabis company and right away, that means some risk is involved. However, the industry is presently resurging, as highlighted by SNDL stock gaining a whopping 283.53% over the past month.
The company smartly took advantage of that surge, filing to sell $200 million worth of stock which will be used to retire debt or for deal-making. Corporate action aside, much of the recent ebullience in SNDL stock is tied to the U.S. House of Representatives voting to decriminalize marijuana. That means another catalyst could be on the horizon because if the Democrats win both Georgia Senate runoff elections, marijuana will almost certainly become legal at the federal level.
7 Tech Stocks To Buy For A Very Happy Holiday Season
That would be a boost for Sundial, but it also means the company needs to find a way to effectively enter the U.S. market. In the meantime, it’s still a speculative name given its scant revenue and a lack of profitability, but these kind of junky names can generate exciting upside in the cannabis space.
Liberty TripAdvisor (LTRPA)
Source: Shutterstock
As a provider of online travel reservations and services, Liberty TripAdvisor makes for an ideal play on the reopening of the global economy and progress when it comes to Covid-19 vaccine development.
LTRPA stock already reflects those prospects. Last Friday, shares surged 20.33% on volume that was more than quadruple the daily average. That came in spite of a disappointing November jobs report.
The near-term outlook for Liberty TripAdvisor boils down to Congress executing another stimulus package that actually puts cash directly into the hands of Americans and the ability of the government to ensure a significant portion of the U.S. population is able to access a vaccine within the first few months of 2021.
7 Tech Stocks To Buy For A Very Happy Holiday Season
Up a staggering 135.48% over the past month, this stock is telling investors they can’t wait for the aforementioned developments to come to light. In other words, this is an anticipatory play.
Transocean (RIG)
Source: Shutterstock.com
With the energy sector ranking as the worst-performing group in the S&P 500 this year, it’s not surprising that some oil services providers have penny stock status. Down 68.46% year-to-date, Transocean is part of that group because oil services equities are highly correlated to the price of oil in the spot market.
More importantly, Transocean, like many of its peers, is financially challenged. The company received a listing notification from the New York Stock Exchange in October and its credit rating dwells in “C” territory, which implies elevated default risk.
The grade “reflects the company’s rising risk of default in light of its very high financial leverage, diminishing liquidity and Moody’s view on overall recovery on the company’s debt,” according to Moody’s Investors Service.
All that makes it sound like RIG stock is dead in the water. But the company is adding to its order backlog and with commodities market observers bullish on oil’s prospects heading into 2021, Transocean can potentially add to its recent gains.
Ambev (ABEV)
ABEV)" width="300" height="169">
Source: Anton Garin / Shutterstock.com
Brazilian beer giant Ambev is down 37.55% year-to-date, a performance reflective of ongoing weakness in the traditional beer market. Around the world, beer sales are languishing as consumers flock to hard seltzers and cannabis-infused beverages. Ambev is also being crimped by the coronavirus pandemic, but the company is touting its response to the challenging operating environment.
“We quickly adapted to changes brought by Covid-19 in terms of consumption and volumes are sequentially improving since April,” says CEO Jean Jereissati.
7 Tech Stocks To Buy For A Very Happy Holiday Season
At this juncture, Ambev is a sensible margin recovery story, but it’s going to take time. That is to say with the company’s status as a large-cap consumer staples company, it’s unlikely to notch exhilarating gains overnight as many penny stocks do. There is a 4.12% dividend yield to compensate investors for their patience.
On the date of publication, Todd Shriber did not have (either directly or indirectly) any positions in any of the securities mentioned in this article.
Todd Shriber has been an InvestorPlace contributor since 2014.
The post 7 Sensible Penny Stocks To Buy For Value In December appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | 7 Tech Stocks To Buy For A Very Happy Holiday Season With that in mind, here are 7 sensible penny stocks to buy for value in December: Full House Resorts (NASDAQ:FLL) Banco Santander (NYSE:SAN) Nokia (NYSE:NOK) Sundial Growers (NASDAQ:SNDL) Liberty TripAdvisor (NASDAQ:LTRPA) Transocean (NYSE:RIG) Ambev (NYSE:ABEV) Investors should bear in mind the vast difference between being cheap and being of good value. Ambev (ABEV) ABEV)" width="300" height="169"> Source: Anton Garin / Shutterstock.com Brazilian beer giant Ambev is down 37.55% year-to-date, a performance reflective of ongoing weakness in the traditional beer market. Combine the company’s growing sports betting footprint, which includes exposure to the fast-growing markets of Colorado and Indiana, and there’s a credible near- to medium-term path for FLL stock to get to $7, according to Roth Capital analyst David Bain. | 7 Tech Stocks To Buy For A Very Happy Holiday Season With that in mind, here are 7 sensible penny stocks to buy for value in December: Full House Resorts (NASDAQ:FLL) Banco Santander (NYSE:SAN) Nokia (NYSE:NOK) Sundial Growers (NASDAQ:SNDL) Liberty TripAdvisor (NASDAQ:LTRPA) Transocean (NYSE:RIG) Ambev (NYSE:ABEV) Investors should bear in mind the vast difference between being cheap and being of good value. Ambev (ABEV) ABEV)" width="300" height="169"> Source: Anton Garin / Shutterstock.com Brazilian beer giant Ambev is down 37.55% year-to-date, a performance reflective of ongoing weakness in the traditional beer market. Penny Stocks To Buy: Full House Resorts (FFL) Source: Maridav/Shutterstock, Inc. With a market capitalization of just $101.1 million, Full House is one of the smallest publicly traded casino stocks in the U.S. | 7 Tech Stocks To Buy For A Very Happy Holiday Season With that in mind, here are 7 sensible penny stocks to buy for value in December: Full House Resorts (NASDAQ:FLL) Banco Santander (NYSE:SAN) Nokia (NYSE:NOK) Sundial Growers (NASDAQ:SNDL) Liberty TripAdvisor (NASDAQ:LTRPA) Transocean (NYSE:RIG) Ambev (NYSE:ABEV) Investors should bear in mind the vast difference between being cheap and being of good value. Ambev (ABEV) ABEV)" width="300" height="169"> Source: Anton Garin / Shutterstock.com Brazilian beer giant Ambev is down 37.55% year-to-date, a performance reflective of ongoing weakness in the traditional beer market. The logic, flawed as it may be, usually goes along the lines of, “if a stock is cheap by price, it must also be a good value.” Then there’s the familiar notion of being able to own more shares in a company by accessing penny stocks. | 7 Tech Stocks To Buy For A Very Happy Holiday Season With that in mind, here are 7 sensible penny stocks to buy for value in December: Full House Resorts (NASDAQ:FLL) Banco Santander (NYSE:SAN) Nokia (NYSE:NOK) Sundial Growers (NASDAQ:SNDL) Liberty TripAdvisor (NASDAQ:LTRPA) Transocean (NYSE:RIG) Ambev (NYSE:ABEV) Investors should bear in mind the vast difference between being cheap and being of good value. Ambev (ABEV) ABEV)" width="300" height="169"> Source: Anton Garin / Shutterstock.com Brazilian beer giant Ambev is down 37.55% year-to-date, a performance reflective of ongoing weakness in the traditional beer market. And this is another hot penny stock, surging almost 75% over the past month. |
28265.0 | 2020-11-11 00:00:00 UTC | Wednesday's ETF with Unusual Volume: KXI | ABEV | https://www.nasdaq.com/articles/wednesdays-etf-with-unusual-volume%3A-kxi-2020-11-11 | nan | nan | The iShares Global Consumer Staples ETF is seeing unusually high volume in afternoon trading Wednesday, with over 269,000 shares traded versus three month average volume of about 42,000. Shares of KXI were up about 0.9% on the day.
Components of that ETF with the highest volume on Wednesday were Ambev, trading off about 3.3% with over 19.2 million shares changing hands so far this session, and Coca-cola, up about 0.1% on volume of over 6.4 million shares. Natura is the component faring the best Wednesday, up by about 3.6% on the day, while Sysco is lagging other components of the iShares Global Consumer Staples ETF, trading lower by about 3.9%.
VIDEO: Wednesday's ETF with Unusual Volume: KXI
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The iShares Global Consumer Staples ETF is seeing unusually high volume in afternoon trading Wednesday, with over 269,000 shares traded versus three month average volume of about 42,000. Components of that ETF with the highest volume on Wednesday were Ambev, trading off about 3.3% with over 19.2 million shares changing hands so far this session, and Coca-cola, up about 0.1% on volume of over 6.4 million shares. VIDEO: Wednesday's ETF with Unusual Volume: KXI The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The iShares Global Consumer Staples ETF is seeing unusually high volume in afternoon trading Wednesday, with over 269,000 shares traded versus three month average volume of about 42,000. Natura is the component faring the best Wednesday, up by about 3.6% on the day, while Sysco is lagging other components of the iShares Global Consumer Staples ETF, trading lower by about 3.9%. VIDEO: Wednesday's ETF with Unusual Volume: KXI The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The iShares Global Consumer Staples ETF is seeing unusually high volume in afternoon trading Wednesday, with over 269,000 shares traded versus three month average volume of about 42,000. Components of that ETF with the highest volume on Wednesday were Ambev, trading off about 3.3% with over 19.2 million shares changing hands so far this session, and Coca-cola, up about 0.1% on volume of over 6.4 million shares. Natura is the component faring the best Wednesday, up by about 3.6% on the day, while Sysco is lagging other components of the iShares Global Consumer Staples ETF, trading lower by about 3.9%. | Components of that ETF with the highest volume on Wednesday were Ambev, trading off about 3.3% with over 19.2 million shares changing hands so far this session, and Coca-cola, up about 0.1% on volume of over 6.4 million shares. Natura is the component faring the best Wednesday, up by about 3.6% on the day, while Sysco is lagging other components of the iShares Global Consumer Staples ETF, trading lower by about 3.9%. VIDEO: Wednesday's ETF with Unusual Volume: KXI The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. |
28266.0 | 2020-10-30 00:00:00 UTC | Companhia de Bebidas das Americas (ABEV) Q3 2020 Earnings Call Transcript | ABEV | https://www.nasdaq.com/articles/companhia-de-bebidas-das-americas-abev-q3-2020-earnings-call-transcript-2020-10-30 | nan | nan | Image source: The Motley Fool.
Companhia de Bebidas das Americas (NYSE: ABEV)
Q3 2020 Earnings Call
Oct 29, 2020, 10:30 a.m. ET
Contents:
Prepared Remarks
Questions and Answers
Call Participants
Prepared Remarks:
Operator
Good morning, and thank you for waiting. We would like to welcome everyone to Ambev's third-quarter 2020 results conference call. Today with us, we have Mr. Jean Jereissati, CEO for Ambev; and Mr.
Lucas Lira, CFO and investor relations officer. As a reminder, a slide presentation is available for download on our website, ir.ambev.com.br, as well as through the webcast link of this call. We would like to inform you that this event is being recorded and all participants will be in a listen-only mode during the company's presentation. After Ambev's remarks are complete, there will be a question-and-answer session.
At the time, further instructions will be given. [Operator instructions] Before proceeding, let me mention that forward-looking statements are being made under the safe harbor of the Securities Litigation Reform Act of 1996. Forward-looking statements are based on the beliefs and assumptions of Ambev's management and on information currently available to the company. They involve risks, uncertainties, and assumptions because they relate to future events and, therefore, depend on circumstances that may or may not occur in the future.
Investors should understand that general economic conditions, industry conditions, and other operating factors could also affect the future results of Ambev and could cause results to differ materially from those expressed in such forward-looking statements. I would also like to remind everyone that, as usual, the percentage changes that will be discussed during today's call are both organic and normalized in nature and unless otherwise stated, percentage changes refer to comparisons with third-quarter 2019 results. Normalized figures refer to performance measures before exceptional items, which are either income or expenses that do not occur regularly as part of Ambev's normal activities. As normalized figures are non-GAAP measures, the company discloses the consolidated profit, EPS, EBIT, and EBITDA on a fully reported basis in the earnings release.
Now I will turn the conference over to Mr. Jean Jereissati. Mr. Jereissati, you may begin your conference.
Jean Jereissati -- Chief Executive Officer
Thank you. Good morning, and good afternoon. Thanks for joining our call for the third quarter. If the second quarter was marked by resilience, adaptability, and agility, Q3 was all about building momentum.
The overall environment remained fluid and challenging, but the team did a fantastic job in terms of executing our plans. Thanks to them, we remain on course for our recovery path. So before diving into the results, I just wanted to thank my team. Great people have always been the foundation and driving force of our company, and I'm very proud of all of them.
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The third quarter continued to be marked by the pandemic. Despite all the difficulties, our commercial strategy worked and reshaped the volume recovery trend that started back in May continued throughout the quarter across all of our markets. The trends by country also remain very similar to Q2. Bolivia, Panama, and Dominican Republic continued to recover more slowly.
Although the volume performance is improving gradually on a monthly basis, these countries continue to have more severe restrictions. Argentina, the pace of the recovery was impacted mainly by the macro backdrop in the country. Paraguay, Chile, and Guatemala recovered faster, thanks to market share gains. While in Canada, our volumes benefited from the strong performance of our premium, core plus, and beyond beer portfolio that led to market share gains amid a positive industry.
In Brazil, what we saw was our adaptability, operational excellence, and innovation all came together during this quarter. We estimate that the majority of our volume growth came from market share gains as our commercial strategy is gaining traction. The rest came from a combination of industry pricing calendar and tailwinds. We continued to see operational restrictions across the country, which varies between regions, with big cities and urban centers still being more affected.
The good news is that their own trade is gradually reopening and the small mom-and-pop off-trade stores continued to gain relevance. To give a dimension, we have ended the quarter with an increase of 10% in the number of total buyers versus the pre-pandemic. Also, I'd like to say that Brazil got gigantic geographically in this pandemic. As customers and consumers were less mobile, Ambev was the trusted partner to deliver volumes in the most remote areas of the country.
Following all safety and health protocols, our products were delivered from Oiapoque, the most northern city in Brazil, to Chui, the most southern city in Brazil. Just to illustrate this point, during this quarter, our fleet of trucks drove 22% more kilometers than the third quarter in 2019. Looking more to the long term, our strategy will continue to be built around two pillars, Ambev, as an ecosystem innovation as a mindset, and business transformation enabled by technology. Today, I want to spend more time on innovation.
We are making a deep transformation on our business to respond faster to customer demands and shifts in market trends. We are in the beginning of this journey to bring solutions to our clients and consumers, but I'm very happy to see that results are starting to come. We will continue to focus on consumer centricity, flexibility to create unique recipes with exclusive ingredients, a pilot testing and learning approach, the creation of an ecosystem that benefits clients, consumers, and suppliers, and the logic of creating demands ahead of supply. We have a framework for innovation where we are vetted on five growth avenues.
The first one, flavors and value propositions, looking for products such as Brahma Duplo Malte, which created its own space in the market and took over the leadership in the core plus segments and regionalization too with the affordable approach of the local supply chain. Second, health and wellness as the biggest opportunity for the future. Last quarter, we launched Stella gluten-free and continue to test and accelerate Michelob Ultra in different countries. Third, convenience for our consumers with initiatives such as Ze Delivery in Brazil, Appbar in Argentina, and Colmapp in Dominican Republic.
Fourth, innovation in services for our clients. Dominican Republic continues tricks in BEES serving as our laboratory market for the marketplace service. More than 75% of the net revenues there already come from the platform. And fifth, beyond the year, we are exploring new territories in the ready-to-drink wine among other beverages.
As I said in a letter to all our colleagues in Ambev in June, we are rejuvenating ourselves. Our market share in the new products that have been launched in the last three years is greater than our total market share in Brazil. This shows that innovation has been over-indexing and will continue to be a key growth driver for us. Finally, as I mentioned in the beginning, the word that defines this third quarter is momentum.
We are strengthening our bonds with our ecosystem and opening new perspectives for the future. Thank you for your time and attention. I will hand over to Lucas.
Lucas Lira -- Chief Financial Officer and Investor Relations Officer
Thank you, Jean. Hi, everyone. After a very tough Q2, it was good to see our financial performance bounced back in Q3. EBITDA grew organically year over year in three of our four regions, despite everything that COVID threw away, and how EBITDA grew was also quite positive with our four regions delivering organic top-line growth.
In Brazil, LAS, and Canada, top-line performance was driven by consistent volume recovery and impact net revenue per hectoliter performance made the difference. We delivered a consolidated 12% volume growth, with improvements from all our operations since Q2. More importantly, volume recovery also translated into improvements in our financial performance. Gross margins and EBITDA margins improved sequentially since Q2 in virtually all our business divisions.
Normalized profit also grew year over year, even though net financial expenses increased given exceptional gains in Q3 of 2019, increased carry costs in Argentina, and the impact of tax litigation regarding the ICMS in the tax basis of the PIS and the COFINS taxes. And finally, cash flow generation nearly doubled, thanks mostly to our working capital performance and operational cash flow. These results further strengthened our solid liquidity position. Profitability, though, remained a challenge.
So let me comment on the main profitability drivers by business. Brazil beer EBITDA margin improved sequentially, mostly driven by the operating leverage resulting from our 25% volume growth, reopening of the on-premise channel, growth of RGB, premium , and core plus brands, and margin accretive innovation. Year over year, however, performance was still negative. Channel mix remained a factor, one-way mix led to under hedged costs, primarily FX and aluminum, and SG&A was impacted by a combination of a tough cost given 2019 phasing, our decision to reinvest some of the savings from Q2 that made sense, given the strong volume recovery, and also our desire to invest behind our key brands as we approach the summer.
NAB Brazil was also able to increase EBITDA margin. The main reason for that was an easy comp from last year's phasing of tax credit, but it's most important to see the mix of single-serve improve as the on-premise gradually reopened. LAS was where margin performance continues to struggle the most. In Argentina, the combination of price controls in food and beverages and hyperinflation continues to take its toll.
And on top of that, Bolivia's slower recovery of the on-premise channel was also a factor. And finally, in Canada and CAC, we were able to increase EBITDA margin this quarter year over year. This was primarily a result of volume trends and improved cost efficiency in Canada and revenue management and disciplined execution of our SG&A savings impact. The name of the game going forward will remain continuous and consistent improvement.
The pace of our profitability recovery, however, will take longer because of the FX headwinds coming our way in 2021, but this is a priority for the entire organization. We know what we have to do in terms of top line, continue to grow volumes, the broad recovery of the on-premise and drive returnable glass bottles, grow core plus and premium brands and invest behind margin-accretive innovation, both in beer and beyond beer. As for costs and expenses, we need to remain with our heightened financial discipline behind working and nonworking money and leverage our technology investments in our supply chain and sales organizations. More broadly, COVID generated a greater level of mobilization of the team, increased visibility, and is challenging us to rethink how we run many aspects of our business, from discounts management and cost management through resource allocation and return on invested capital.
We still have lots to do, but after surviving Q2 and building momentum in Q3, we're definitely up for the challenge. Time for Q&A, and thank you very much.
Questions & Answers:
Operator
We will now begin the Q&A session. [Operator instructions] Our first question comes from Marcella Recchia, Credit Suisse.
Marcella Recchia -- Credit Suisse -- Analyst
Hi, Lucas. Questions here. First one, basically, surging volumes of aluminum can this quarter puts you in an unhedged position in terms of aluminum and FX, right, which resulted therefore in higher-than-expected costs to increase. So I just would like to understand if we can isolate the magnitude of this cost impact that your gross in EBITDA -- or EBITDA margin.
So meaning, in other words, what was your unhedged cost position this quarter and how much of this cost was above your hedged cost? And materially, if we can connect that with your outlook amid the current constrained aluminum can and gas bottle supply environment.
Lucas Lira -- Chief Financial Officer and Investor Relations Officer
With respect to the cost for Brazil beer in the quarter, a few things we already expected. Right? So we already anticipated that the FX headwind would hit us, right, based on our hedging policy since last year, number one. Number two, we already anticipated that the mix would also be a factor because as we saw in Q2, in Q3, we also saw a year-over-year increase of mix of one-way packaging, particularly cans, and that brings along with it an impact on our costs. And then finally, what was unexpected was really that the weight of the growth in on one way year over year was greater than what we had hedged going into the year.
And so we ended up having to face an additional cost because it was not hedged in advance. OK? Net-net, we estimate that the impact was around 90 basis points. OK? Just to give you a reference. OK? But for this additional impact, our EBITDA margin for beer Brazil would have been 90 basis points better.
OK? And could you repeat again the second part of your question, please?
Marcella Recchia -- Credit Suisse -- Analyst
Yeah. How -- what's your outlook amid the current constraint in the aluminum can and glass bottle supply environment?
Lucas Lira -- Chief Financial Officer and Investor Relations Officer
Sure. Well, I think, number one, we're still ramping up our can plant. Right? So we launched during the quarter our can plant in the state of Minas Gerais and is currently ramping up. So as it continues to ramp up during the next couple of weeks and months, we expect that to play a role in helping us alleviate the supply chain pressure.
OK? Having said that, we do acknowledge that the supply change pressure overall will continue, OK, in the country. What we're doing about it is we're planning ahead and we're planning ahead trying to leverage our global footprint and our global footprint of suppliers to really -- to be as prepared as possible for a summer that we anticipate will remain putting pressure on the supply chain.
Marcella Recchia -- Credit Suisse -- Analyst
Got it. Very clear. And secondly, very quickly, if I may. Can you give us some color on how much innovation or recent launch of products such as Brahma Duplo Malte were relevant for your gains of market share this quarter?
Jean Jereissati -- Chief Executive Officer
So hi, Marcella. I can take this one. Yes. So innovation is really a big part of our strategy.
So we have been working on this for 18 months now. So building the capabilities, hiring people, redesigning the organization to have squads and to have an innovation team working in each avenue of growth. And Q3 was particularly very strong where innovation really played a very important role. We believe that our volumes, the majority of it really came from our commercial strategy, and a big part of it is innovation.
And as you know, we just mentioned, Brito mentioned in the other call that Brahma -- I mentioned that Brahma Duplo Malte to cover the leadership on the core plus segment. So what I can say, is that majority, more than half of our growth really came from our commercial strategy. A big part of it is the acceleration of innovations and Brahma Duplo Malte is the No. 1 brand on the core plus segment.
Marcella Recchia -- Credit Suisse -- Analyst
That's very helpful. Thank you both.
Operator
Our next question comes from Luca Cipiccia, Goldman Sachs.
Luca Cipiccia -- Goldman Sachs -- Analyst
Hi. Good morning, Jean. Good morning, Lucas. Thanks for taking my question.
I hope you're well. I wanted to also ask something about beer performance in Brazil. Evidently, 25% growth was a quite dramatic move. I went back and I couldn't find the growth above 20% since the early 2000s.
So definitely a standout. But even if I look at it in absolute, actually, there's nominal levels, 20 -- almost 22 [Inaudible]. It's something that typically we see in the fourth or in the first quarter in the summer quarter. So my first question would be, I understand some specific tailwind and some exceptional levels.
I understand that Q3 didn't grow for the last five years. But even if I look compared to 2015, these numbers were about 77% higher. Can you help us understand how much the pricing discussion also played a role in relative terms compared to what the others have done in the market, but also whether there's an element of anticipation of orders if you've been eating into some of the fourth-quarter volumes, if you can quantify that? And then secondly, on the pricing specifically, you make reference to the changes that you've made and more dynamics. What do you mean exactly? Price changes have been more targeted or more regional? Or you haven't done them at all or not much? And how should we think about this going to the end of the year? Is it reasonable to assume that this year is about volumes, it's about mix, but it's not gonna be about pricing? Or it's something that you leave open to changing market conditions or other factors? If you can comment first on these two points, it would be great.
Jean Jereissati -- Chief Executive Officer
OK. So let me start with the last one. Let me start first with the pricing. OK? So I've been saying that we have been studying the previous Q3 in our pricing strategy.
And we -- in the past, we have been very disciplined, very rigid on our strategy. And we just believe that we should kind of move to really have a strategy that could, in the long term, bring more value for us. So we are being more flexible in general. If you see, we are playing a different playbook across the countries.
If you look at Dominican Republic, we are playing a playbook. If you see Canada, it's another one. Paraguay, a different one, and Brazil different, too. So we are being really looking with more variables to really understand how can this lever really bring values to our company.
OK? So coming down to Brazil, what happened, it is really that we were in the middle of the pandemic, and we really try to find the best moment for us really to go and recover a little bit of net revenue per hectoliter in a way that it could stick and it could be manageable by our customers and our consumers. But in the end, this looks like more a little bit outside of the pandemic closer to the peak season. I think it was the right moment. But even though, I really don't think that that was a major change on the volumes of the quarter.
So anything that we talk about the elasticities of pricing and volumes, I don't think that that was the major motive of the volumes of discount of this quarter, mainly because it was really finding one week -- some weeks after what we did last year. But it was important really to make it more close to the peak season to really see in a way that it was more flexible, in a way that it was like protecting a little bit the own trade that is needing to get traction still. And so we are very happy with this strategy that we are taking. OK? So having said that, the volumes, I think that this call, we are talking about momentum.
So the volumes that we did is not really -- a part of it is when we compare. It's about easy comps, but the point is that we really believe that our commercial strategy is really working. And in the end, if you see this type of volumes compared, they are more close to Q4 volumes. And if you see in a deseasonalized way, they are really, really strong volumes that we have seen in the Q3.
So majority of this growth really came from our commercial strategy. Our portfolio is really in a much better shape than we had before. I point out the fact that we have seen the core very resilient. The point is that the consumers and the occasions that we are seeing that are rising during the pandemic, there's more relaxation, more in-home with friends.
They are really benefiting the core so it's really a big chunk of it is our core is really getting more consumers and occasions than losing. Our value strategy is really working to with this market affordability that we have now going for five states. So the value, it is not -- so we are not seeing a trade down, but we are performing well in the value. What we are seeing is really the core resilience.
And then on top of these two things, global brands growing 40%, and the innovations are bringing differentiation to the core and really creating these core plus segments. When we put all of this together is really what we believe it is doing the 25% growth that we had.
Luca Cipiccia -- Goldman Sachs -- Analyst
Clear. So just to clarify, so you don't think there was a meaningful element of Q4 volumes going to Q3 because there's an expectation that you're gonna hit with a price hike and a better stock up now? Or if there was that consideration, it was not material. Is that the right position?
Jean Jereissati -- Chief Executive Officer
So we monitored the level of inventory stocks in the market, and that's definitely not what happened.
Luca Cipiccia -- Goldman Sachs -- Analyst
OK. And if I may, just a quick one, more of a holistic question, maybe an unfair one, but I wonder if a 25% growth in beer volumes doesn't move the share price, I don't know what will. And my hunch would be aside from market conditions and other factors, is that people are worried about margins or questions on where the margins will land as we move forward. We know that you're going to get it by FX, mix, and some other elements, but maybe there is less clarity on how much pricing or operating leverage will be able to offset that.
So anything you can give us to, let's say, and core margin expectations within a reasonable range as we think about 2021, 2022, that I think is what remains a major concern for investment.
Jean Jereissati -- Chief Executive Officer
So let me get the overall view of this question, and then I will hand over to Lucas for us to -- it's a good question for us to talk about. So as we highlighted before, we were really forecasting that we shape recovery. And we were really working on the volumes, stay focused in strengthening the connection with our clients, renovating our portfolio. Our commercial strategy is really working.
We believe we have momentum. So that's -- we are gaining momentum. So that -- we are confident on that. OK? So this was a particular Q3 in Brazil a quarter that we delivered.
Strong top line resulting with EBITDA growth year over year and sequentially, EBITDA margin improvement. So this was a quarter that we were very happy with it because we could overcome the pandemic and the impact of mix and the initial impact of the currency with our commercial strategy that really stick and we paid with the top line and had EBITDA growth year over year. So as you know, it's important. So we have significant transactional FX headwinds moving forward.
But in the end, we will continue and work with our long-term view, working on the volume recovery so you have to understand that I already had 10 million hectoliters more than I had last year. So that's a number that -- from our peak volumes in 2014 that will help us in this recover in a sustainable way of margins. So the own trade were opening, and so it's halfway still. So it is really something that we begin -- so it -- we believe it will come.
If not structural, we believe that it will come back. So the core plus and premiumization strategy will bring us a way for us to mitigate what we are seeing in the short term of FX headwinds and the continued of a strong innovation pipeline. On top of that, strategic CAPEX investment on technology footprint. We are working on all of that for us to mitigate the impact on the currencies.
But just to make it clear, so this Q3 was a shape that we like it, a strong top line, mitigating the profitability issue with EBITDA growth, and really having sequential EBITDA margin still with a lot of opportunities to move this forward. OK?
Luca Cipiccia -- Goldman Sachs -- Analyst
Great.
Lucas Lira -- Chief Financial Officer and Investor Relations Officer
Luca, as to the first part of your question, we really can't comment on the share price and share price movements and reaction. A multitude of effects go into that. It's ultimately for the market to decide what the price of the share should be. What we can comment on is what we're trying to achieve as management.
OK? And that is to continue to improve our results, right, consistently over time. This won't happen overnight. Q2 was very tough. We survived.
Q3, we think we're starting to build good momentum. We have to continue to deliver by executing our strategy. We're constructive on the business opportunities we see. We're constructive on our portfolio, where it is today.
We're constructive on our team and their ability to deliver. So that's gonna be our focus going forward. What the share price will be, the market will decide from time to time.
Luca Cipiccia -- Goldman Sachs -- Analyst
Absolutely. And I wouldn't expect you to comment on the share price. I was just channeling as a way to refer to concerns or questions around the margin outlook. So totally fair, and thanks for the questions.
Very clear. Thank you.
Operator
Our next question comes from Thiago Duarte, BTG.
Thiago Duarte -- BTG Pactual -- Analyst
Thank you. Hello, Jean. Hello, Lucas. Hello, everybody.
I've got three questions. The first one is circling back to the discussion on pricing. I think it's clear the flexibility that you're trying to implement on your price policy. But one aspect that called our attention here was as we try to combine effective price increase with your revenue management, particularly how you play the discounts over gross revenues.
Right? So looking at the financials, particularly when you look at the parent company level for Ambev, discounts were pretty low relative to the levels that we have been seeing for several quarters now. So just wondering -- we discussed that in the past. So just wondering whether you think discounts can go even lower as a way -- as a tool for you guys to play pricing with customers or whether they should be seen as a one-off or something like that. So if you comment on that would be nice.
The second part of my question is on brand performance. Right? You guys brought in the release of some comments about -- and I'm talking about Brazil beer here, some comments about international premium brands performing very well, core plus, the Brahma Duplo Malte performing very well. So just wondering how your core portfolio -- your core brands performed in the quarter. You mentioned it was resilient.
So just if you could situate us a little bit in terms of how they did relative to the average of the portfolio would be nice. And the third question is on dividends. Right? You guys, if I'm not mistaken, this is your all-time high net cash position that you guys reported for September. So Lucas, if you could comment on your dividend policy, whether we should expect it to be similar to what we saw last year when you guys paid the entire fiscal year related dividend onetime or something different, would be nice to update as well.
Thank you.
Jean Jereissati -- Chief Executive Officer
OK. So let me get the one on the discounts and the resilience of the core. So yes, glass. So we are -- so when I mentioned that long-term wise, we really want to follow the inflation on the price increases is really our long-term view, so what we want.
And on top of that, you have many factors that did not -- does not affect consumers. So there is this part of the channel mix, this part of packaging mix, discount optimization. So we have -- we are working a lot on other levers to guarantee that our price conduct is the one that we really be inclusive with consumers, guarantee a healthy industry, but we are working a lot on other levers for us to have a better profitability in the future. And so we are studying the price.
The decision of the price much more on the macroeconomic scenario, elasticities, mix trends. But in the end, what we have another levers moving forward that we believe that will begin to play in our favor, that is the channel mix moving forward should be something that would be positive for us. And the brand mix, that is something that we've been talking, but it -- we are really seeing it with more strength right now, mainly because, as I mentioned before, the core is resilient. So what we are seeing -- so if I can give you some numbers, so we had 25% of our volume growth.
So the core was pretty much when we put core and core plus together, they were pretty much in line with that. The premium was global brands growing 40%. And then we -- the value, it was really under-indexing in growth, but gaining market share. So this is the equation that is a good equation for us, core resilient with innovation, core plus helping on this equation, and then premiumization on top of everything and a healthy value, gaining market share but do not really impacting that much down.
The mix -- the part of the mix and discount is an opportunity. So I mentioned to you. So it's a broader view of that. OK? So what we see is that we are already selling to 10% more customers that we sold pre-pandemic because we are really getting linear.
So we have been the reliable supplier, and we are, across the board, looking for more customers, smaller cost of customers. So there is less of intermediates on this process, and then you have opportunity to -- on the discount optimization when we have this mix of customers really moving in the right direction. Core plus is positive. And region mix is something that usually it is less accretive because we are really growing in Northeast, North, and the Middle East.
So opportunity in discounts, opportunity in core plus. So the resilience of the core performance when we put everything together in line with the total volume and in the decision on prices that affect consumers really we're looking at more variables and really having the right moment to do it.
Lucas Lira -- Chief Financial Officer and Investor Relations Officer
Hi, Thiago. With respect to your last question, starting first with the cash position. The cash position that we ended up in the quarter is the result of, I would say, three main factors. Number one, the liquidity cushion we built during the second quarter because of COVID.
OK? And that liquidity cushion is something that we're constantly assessing, right, based on what's going on in markets and in our business and the needs. So that's something that we will continue to monitor very closely. We still live in a fairly volatile, uncertain, and fluid reality across our markets. So even though we survived Q2, building momentum in Q3, we're not out of the woods yet.
Right? A lot can still happen, and a lot can change rather quickly. So we think a good dose of prudence is still warranted. OK? But that's something that we'll continue to keep on our radar and monitor. The second thing is currency translational adjustment, sorry.
This is basically a result of the cash positions in our foreign operations and given the devaluation of the real versus the U.S. dollar, when you translate the balances. Right? It creates an impact. OK? And then the third one is really the strong cash flow generation that we had in the quarter, which was great to see.
OK? So that's kind of where we ended up in terms of cash and the main drivers for it. As for dividends, as you well know, the Ambev bylaws do provide for a mandatory dividend of 40% of our adjusted annual net income. OK? So it's always good to remind folks of that. When we think of use of cash, our thought process remains the same.
OK? So number one, reinvesting in the organic growth of the business. We continue to see opportunity, and we will continue to invest behind growth, be it CAPEX, be it investing behind our sales and marketing to further strengthen the portfolio that we're trying to create and strengthen and can further develop. Number two is investing in nonorganic opportunities that may pop up from time to time. Obviously, hard to pinpoint this and when they will happen, but we see value in retaining the flexibility to be able to pull the trigger and invest resources behind that.
And then last but not least, return excess cash to shareholders. And this -- and in doing so, we will continue to focus on maximizing the IOC payout given the deductibility that comes along with it. So that remains a priority when it comes to returning excess cash to shareholders. And the balance is going to be a combination of potentially dividends and share buybacks depending on kind of a multitude of conditions that we evaluate from time to time together with the board.
So this is an ongoing discussion toward the end of the year. Once we have finalized our budget, have a clearer view of our plan for 2021 and beyond and taking stock of kind of where we see the environment going forward, we will make a recommendation to the board and update the market as needed.
Thiago Duarte -- BTG Pactual -- Analyst
Thank you so much.
Operator
Our next question comes from Rob Ottenstein, Evercore.
Rob Ottenstein -- Evercore ISI -- Analyst
Great. Thank you very much, and terrific progress. I'm wondering if you could go into a couple of things and just trying to get a little bit of a sense of the sequential improvement or changes. And that is, number one, returnable glass bottles as a part of your mix.
I don't know if you can kind of give us a sense of what they were in Q1, Q2, Q3, really trying to get a sense of that sequencing. And then, second, any color on Ze Delivery? I mean, you gave us some numbers in prior quarters. I'd love to kind of see where that is, how that's growing and progressing. Thank you.
Jean Jereissati -- Chief Executive Officer
OK, Robert. So talking about returnable bottles and cans. So we saw a sequential recovery in RGB mix in this quarter, driven mainly by the strategy that is really picking up of small RGB for in-home consumption in moms and pops and small off-trades that continues to gain traction. And this is just to make a comment to the question of Duarte too.
This is an important piece of the resilience of the core. There's more RGB 300 ml strategy to go over in-home occasions. So in September, the 300 ml RGB is already growing and getting more traction than cans, for example. And on top of that, we foresee that the reopening on the on-site channel that will really help us to continue to grow on the RGB.
So what can I say? We are more or less halfway what we lost and -- but gaining traction with the reopening of the on-trade and the RGB strategy moving forward. So that's pretty much where we are in the RGB. Delivery is doing very well during this pandemic. We have a great window of opportunity in Brazil to really take customer engagement to the next level.
Consumer engagement to the next level is really something that we have been working for five years on that and we are seeing all coming together with a big window of opportunity for us. The Ze Delivery, particularly delivers cold beer one hour at home. It was really important in this moment of the pandemic, really solves our consumer pain points. We are in more than 27 states right now, and we reached 200 cities in aggregating cities more and more.
And what I can say, it is that we did in this quarter, six times what we had in the previous year. So it's really accelerated, really something that's solving a lot of of consumer issues. On top of that, I think that we are really, again, talking about technology. So we have the marketplace coming.
It's -- we call BEES. We are really piloting it and using Dominican Republic as a laboratory, but it's already arriving in Brazil. So we are really enhancing our platform with our customers, digital connection, customer satisfaction in another level, we are really seeing the engagement of our customers in Brazil, really going up with the arrival of BEES. That's the marketplace that we're going to bet for the future.
There's other great opportunities that we will be talking in the next quarter.
Rob Ottenstein -- Evercore ISI -- Analyst
If I were to kind of guess Ze Delivery in terms of getting to 5% of your business in five years, would that be low or high based on your best assumptions?
Jean Jereissati -- Chief Executive Officer
So Robert, what I mentioned, I mentioned this in another call. Our DTC strategy should lead us to 10% of our total net revenue in five years, and Ze Delivery is a very important piece of it. It's not alone, but it's a very important piece of our strategy.
Rob Ottenstein -- Evercore ISI -- Analyst
Great. Thank you very much.
Operator
Our next question comes from Lucas Ferreira, Bank -- J.P. Morgan.
Lucas Ferreira -- J.P. Morgan -- Analyst
Hi. Good afternoon, gentlemen. I have two questions on the consumption environment in Brazil. The first one is about the Coronavoucher.
You mentioned this in the release. It's been one of the supporting factors of decision volumes. We are seeing already a decline in the voucher. It went from BRL 600 to BRL 200.
And we're starting to see some of the supermarket association, explaining that this is already vaccine sales. So -- and also, we'll be seeing a very high fluid inflation. So wondering if these two factors are already having some sort of impact in sales as of, let's say, October, September, which is a sense that this is an issue. And then my second question, you also mentioned in the release that the number of active clients you have right now is the same as the pre-pandemic.
And I remember discussing a lot of this with the association of a lot of restaurants that there be expecting initially to sort of a 30% reduction in the number of point-of-sale or something like that. So wondering if you can comment on sort of the financial health of the [Inaudible] channel, how that has been behaving in the context of a loss? And if you can talk a little bit about it, if this is kind of surprising you to the upside or not. I wonder if you can comment on the environment, please.
Jean Jereissati -- Chief Executive Officer
OK. So first of all, so as I mentioned before, this quarter was a quarter that we are very, very happy with the volume performance and the momentum that we have. And we are really focusing on things that we can control. And majority of our performance more than half, it was really about our commercial strategy, things that were in our hands, so the acceleration of innovation, the resilience of the core.
So the new positioning of Bohemia is really gaining traction in the North and Northeast. So global brands really, really, really growing fast, 40% operational excellence and improving service level across the country. So these are the things that really brought the majority of our volume growth in Q3. When we put together the Coronavoucher, together with the disposable income that went down in the shutdown of bars, so this thing is really something that is important, but it's not net-net that big.
The Coronavoucher alone is important. But when we put all these things together, it is important, but it's not that big. Another thing that really helped the industry, it was really our pricing calendar, our flexibility in doing the right moment I think somehow expanded the industry a little bit. But when we put the quarter together, majority is 60% -- more than 60% of our performance, we really attribute to the -- our commercial strategy, things that is in our hands.
OK? So that's one thing. So talking about channels and customers. So yes, I mentioned that we are already selling for 10% more customers that we usually sold pre-pandemic. So we are really seeing the moms and pops is really and the small formats of trade are the big winners.
So they are really with volumes up, more clients, so we are reaching more. So we are more prepared to deal with them. Our strategy of digitalization and getting orders online is really something that is helping on this process is really a competitive advantage that we have. We already see bars on the same level that we had pre-pandemic, but still with the occasion that has a number of tables and restrictions in terms of opening hours, really still making less of volumes in the channel, but we see a number of clients in the channel already in the level -- on the same level of the pre-pandemic.
Operator
Our next question comes from Ricardo Alves, Morgan Stanley.
Ricardo Alves -- Morgan Stanley -- Analyst
Hi, Jean, Lucas. Good morning, everybody, and thanks for the call. A couple of follow-up questions. The first one, back to the channel mix, kind of related to this last topic, based on the chart you showed in the release, it seems that Brazil went from 70% off-trade to slightly below 60% now in the third quarter, if I'm not mistaken, which is 's a pretty big move.
So could you talk a little bit about that? I mean, you talked about how the buyers and restaurants are kinda ramping up, but talking specifically about your exposure to the on-trade. I think that that would be helpful way to train is -- perhaps you saw a major improvement in September versus July and August or we may need to see more of that now in October. I think that that would be helpful. The second question is also a follow-up on the premium side, also in Brazil.
You mentioned the lean premium growing in the double digits. And now on the call, you mentioned a 40% growth for global brands. So just wanted to see if you can give a little bit more color on the other stuff as well to the domestic brands, how they're performing, on the margin with everything that you just said, right, on the restaurants and bars, if you see some signs of improvement on that specific segment as well. Thank you so much.
Jean Jereissati -- Chief Executive Officer
OK. So let me get a little bit more information on that. So our sales mix for Brazil beer in Q3, it was divided in 42% on-trade including moms and pops and 58% of trade. So by comparison, in 2019, on-trade was around 55 and off-Trade 45 in the same metric.
And in Q2 '20, on-trade was around 30% and off-trade, 70. So we are more or less halfway in the mix than we had in the past. Even though we have seen the on-trade gradually reopen in the number of clients of the on-trade already in line with the pre-pandemic, bars are not operating at full capacity due to social distancing safety measures. And mainly, and most important, the VIP, so the more -- the bars that are more in important urban centers.
Now on top of that, consumers are still reluctant to fully return in the same pattern that they had before. OK? So the bars are there, the bars -- number of bars are working, but the occasion is something that is still not completely there. When we think about channel mix and this impact of occasion, we are halfway returning in the -- for what we have in the past. So having said that, so our global brands are doing very well, 40% growth.
Average with corona impact growing much ahead of that because they have a footprint that they can go off-trade. They can go in home. When we talk about premium, the big hit that I have in my portfolio are two brands, the Sukita and Brahma that is really one related with the occasion that is not there yet, so the occasion. And original big bottles, 600 ml, that they are really the two most important brands of this occasion.
There is socializing out-of-home in bars. So this one are really still not there. But global brands, Budweiser, Corona backs that we have longneck cans, and we can go off-trade and in-home, they are very [Inaudible].
Ricardo Alves -- Morgan Stanley -- Analyst
That's helpful, Jean. Thank you. Just a quick follow-up on premium. When you talk about double-digit growth for the whole category? Are -- is it fair to say that it was more or less in line with your consolidated Brazil beer volume? Hello?
Operator
Excuse me. The Q&A session is closed. I would like to turn the floor over to Mr. Jean Jereissati for your closing statement.
[Operator signoff]
Duration: 62 minutes
Call participants:
Jean Jereissati -- Chief Executive Officer
Lucas Lira -- Chief Financial Officer and Investor Relations Officer
Marcella Recchia -- Credit Suisse -- Analyst
Luca Cipiccia -- Goldman Sachs -- Analyst
Thiago Duarte -- BTG Pactual -- Analyst
Rob Ottenstein -- Evercore ISI -- Analyst
Lucas Ferreira -- J.P. Morgan -- Analyst
Ricardo Alves -- Morgan Stanley -- Analyst
More ABEV analysis
All earnings call transcripts
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Companhia de Bebidas das Americas (NYSE: ABEV) Q3 2020 Earnings Call Oct 29, 2020, 10:30 a.m. [Operator signoff] Duration: 62 minutes Call participants: Jean Jereissati -- Chief Executive Officer Lucas Lira -- Chief Financial Officer and Investor Relations Officer Marcella Recchia -- Credit Suisse -- Analyst Luca Cipiccia -- Goldman Sachs -- Analyst Thiago Duarte -- BTG Pactual -- Analyst Rob Ottenstein -- Evercore ISI -- Analyst Lucas Ferreira -- J.P. Morgan -- Analyst Ricardo Alves -- Morgan Stanley -- Analyst More ABEV analysis All earnings call transcripts This article is a transcript of this conference call produced for The Motley Fool. The first one, flavors and value propositions, looking for products such as Brahma Duplo Malte, which created its own space in the market and took over the leadership in the core plus segments and regionalization too with the affordable approach of the local supply chain. | [Operator signoff] Duration: 62 minutes Call participants: Jean Jereissati -- Chief Executive Officer Lucas Lira -- Chief Financial Officer and Investor Relations Officer Marcella Recchia -- Credit Suisse -- Analyst Luca Cipiccia -- Goldman Sachs -- Analyst Thiago Duarte -- BTG Pactual -- Analyst Rob Ottenstein -- Evercore ISI -- Analyst Lucas Ferreira -- J.P. Morgan -- Analyst Ricardo Alves -- Morgan Stanley -- Analyst More ABEV analysis All earnings call transcripts This article is a transcript of this conference call produced for The Motley Fool. Companhia de Bebidas das Americas (NYSE: ABEV) Q3 2020 Earnings Call Oct 29, 2020, 10:30 a.m. Brazil beer EBITDA margin improved sequentially, mostly driven by the operating leverage resulting from our 25% volume growth, reopening of the on-premise channel, growth of RGB, premium , and core plus brands, and margin accretive innovation. | [Operator signoff] Duration: 62 minutes Call participants: Jean Jereissati -- Chief Executive Officer Lucas Lira -- Chief Financial Officer and Investor Relations Officer Marcella Recchia -- Credit Suisse -- Analyst Luca Cipiccia -- Goldman Sachs -- Analyst Thiago Duarte -- BTG Pactual -- Analyst Rob Ottenstein -- Evercore ISI -- Analyst Lucas Ferreira -- J.P. Morgan -- Analyst Ricardo Alves -- Morgan Stanley -- Analyst More ABEV analysis All earnings call transcripts This article is a transcript of this conference call produced for The Motley Fool. Companhia de Bebidas das Americas (NYSE: ABEV) Q3 2020 Earnings Call Oct 29, 2020, 10:30 a.m. Brazil beer EBITDA margin improved sequentially, mostly driven by the operating leverage resulting from our 25% volume growth, reopening of the on-premise channel, growth of RGB, premium , and core plus brands, and margin accretive innovation. | Companhia de Bebidas das Americas (NYSE: ABEV) Q3 2020 Earnings Call Oct 29, 2020, 10:30 a.m. [Operator signoff] Duration: 62 minutes Call participants: Jean Jereissati -- Chief Executive Officer Lucas Lira -- Chief Financial Officer and Investor Relations Officer Marcella Recchia -- Credit Suisse -- Analyst Luca Cipiccia -- Goldman Sachs -- Analyst Thiago Duarte -- BTG Pactual -- Analyst Rob Ottenstein -- Evercore ISI -- Analyst Lucas Ferreira -- J.P. Morgan -- Analyst Ricardo Alves -- Morgan Stanley -- Analyst More ABEV analysis All earnings call transcripts This article is a transcript of this conference call produced for The Motley Fool. Jean Jereissati -- Chief Executive Officer So let me get the overall view of this question, and then I will hand over to Lucas for us to -- it's a good question for us to talk about. |
28267.0 | 2020-08-21 00:00:00 UTC | First Week of April 2021 Options Trading For Ambev (ABEV) | ABEV | https://www.nasdaq.com/articles/first-week-of-april-2021-options-trading-for-ambev-abev-2020-08-21 | nan | nan | Investors in Ambev SA (Symbol: ABEV) saw new options begin trading this week, for the April 2021 expiration. One of the key data points that goes into the price an option buyer is willing to pay, is the time value, so with 238 days until expiration the newly trading contracts represent a potential opportunity for sellers of puts or calls to achieve a higher premium than would be available for the contracts with a closer expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the ABEV options chain for the new April 2021 contracts and identified the following call contract of particular interest.
The call contract at the $2.50 strike price has a current bid of 15 cents. If an investor was to purchase shares of ABEV stock at the current price level of $2.29/share, and then sell-to-open that call contract as a "covered call," they are committing to sell the stock at $2.50. Considering the call seller will also collect the premium, that would drive a total return (excluding dividends, if any) of 15.72% if the stock gets called away at the April 2021 expiration (before broker commissions). Of course, a lot of upside could potentially be left on the table if ABEV shares really soar, which is why looking at the trailing twelve month trading history for Ambev SA, as well as studying the business fundamentals becomes important. Below is a chart showing ABEV's trailing twelve month trading history, with the $2.50 strike highlighted in red:
Considering the fact that the $2.50 strike represents an approximate 9% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 53%. On our website under the contract detail page for this contract, Stock Options Channel will track those odds over time to see how they change and publish a chart of those numbers (the trading history of the option contract will also be charted). Should the covered call contract expire worthless, the premium would represent a 6.55% boost of extra return to the investor, or 10.05% annualized, which we refer to as the YieldBoost.
The implied volatility in the call contract example above is 93%.
Meanwhile, we calculate the actual trailing twelve month volatility (considering the last 252 trading day closing values as well as today's price of $2.29) to be 56%. For more put and call options contract ideas worth looking at, visit StockOptionsChannel.com.
Top YieldBoost Calls of the S&P 500 »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Of course, a lot of upside could potentially be left on the table if ABEV shares really soar, which is why looking at the trailing twelve month trading history for Ambev SA, as well as studying the business fundamentals becomes important. Below is a chart showing ABEV's trailing twelve month trading history, with the $2.50 strike highlighted in red: Considering the fact that the $2.50 strike represents an approximate 9% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in Ambev SA (Symbol: ABEV) saw new options begin trading this week, for the April 2021 expiration. | Of course, a lot of upside could potentially be left on the table if ABEV shares really soar, which is why looking at the trailing twelve month trading history for Ambev SA, as well as studying the business fundamentals becomes important. Below is a chart showing ABEV's trailing twelve month trading history, with the $2.50 strike highlighted in red: Considering the fact that the $2.50 strike represents an approximate 9% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in Ambev SA (Symbol: ABEV) saw new options begin trading this week, for the April 2021 expiration. | Below is a chart showing ABEV's trailing twelve month trading history, with the $2.50 strike highlighted in red: Considering the fact that the $2.50 strike represents an approximate 9% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in Ambev SA (Symbol: ABEV) saw new options begin trading this week, for the April 2021 expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the ABEV options chain for the new April 2021 contracts and identified the following call contract of particular interest. | Below is a chart showing ABEV's trailing twelve month trading history, with the $2.50 strike highlighted in red: Considering the fact that the $2.50 strike represents an approximate 9% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in Ambev SA (Symbol: ABEV) saw new options begin trading this week, for the April 2021 expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the ABEV options chain for the new April 2021 contracts and identified the following call contract of particular interest. |
28268.0 | 2020-07-31 00:00:00 UTC | Companhia de Bebidas das Americas (ABEV) Q2 2020 Earnings Call Transcript | ABEV | https://www.nasdaq.com/articles/companhia-de-bebidas-das-americas-abev-q2-2020-earnings-call-transcript-2020-07-31 | nan | nan | Image source: The Motley Fool.
Companhia de Bebidas das Americas (NYSE: ABEV)
Q2 2020 Earnings Call
Jul 30, 2020, 11:00 a.m. ET
Contents:
Prepared Remarks
Questions and Answers
Call Participants
Prepared Remarks:
Operator
Good morning, and thank you for waiting. We would like to welcome everyone to Ambev's second-quarter 2020 results conference call. Today with us, we have Mr. Jean Jereissati, CEO for Ambev, and Mr.
Lucas Lira, CFO and investor relations officer. As a reminder, our slide presentation is available for downloading on our website, ri.ambev.com.br, as well as through the webcast link of this call. We would like to inform you that this event is being recorded. [Operator instructions] Before proceeding, let me mention that forward-looking statements are being made under the safe harbor of the Securities Litigation Reform Act of 1996.
Forward-looking statements are based on the beliefs and assumptions of Ambev's management and on information currently available to the company. They involve risks, uncertainties and assumptions because they relate to future events and therefore, depend on circumstances that may or may not occur in the future. Investors should understand that general economic conditions, industry conditions and other operating factors could also affect the future results of Ambev, and could cause results to differ materially from those expressed in such forward-looking statements. I would also like to remind everyone that, as usual, the percentage changes that will be discussed during today's call are both organic and normalized in nature. And unless otherwise stated, percentage changes refer to comparisons with the second-quarter 2019 results.
Normalized figures refer to performance measures before exceptional items, which are either income or expenses that do not occur regularly as part of Ambev's normal activities. As normalized figures are non-GAAP measures, the company discloses the consolidated profit, EPS, EBIT and EBITDA on a fully reported basis in the earnings release. Now, I'll turn the conference over to Mr. Jean Jereissati. You may begin your conference.
Jean Jereissati -- Chief Executive Officer
Thank you. Hello, everyone. Thank you for joining our call. Before I share with you an overview of our business during the second quarter, and Lucas cover the highlights of our financial performance, I would like to deeply thank all those who are helping our societies doing the COVID-19 pandemic.
Those who are fighting in the front line on a daily basis are the real heroes, and are making a real difference as the world battles pandemic. Thank you very much. Our second quarter was certainly much very marked by the pandemic. But also by our team's incredible collective and positive reaction to it. Last quarter, I mentioned the main factors that I believe would make the difference in navigating the crisis were being the leaner and most efficient player in the market, having the highest reach in terms of distribution network built over the last 20 years, mitigating the rises with a solid cash position, and finally, leveraging our technological and innovation platforms that we have been investing behind for a while. In what was probably the most difficult quarter of our history, we demonstrated the strength of our business, the resilience and creativity of our people, and our ability to impact the world in a positive way.
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In almost all the countries in which we operate, we ended the quarter better than we started. COVID-19 brought new challenges to our business and the ecosystem of our industry. Everybody is reinventing themselves. Consumers are changing their habits, demanding more convenience and new ways of entertainment.
And the on-trade channel is rethinking itself. The good news is that we have been setting up the company to respond quickly to these changes, and we are starting to see the benefits of this new mindset and strategy. From April to June, we saw a sequential improvement in consolidated volumes. April volumes declined 27% year over year, May declined 7%, and June actually grew 5%. Despite this positive trend, there is still plenty of uncertainty in the market.
Things can change rather quickly, and profitability was and should continue to be a challenge, as our great socializing occasions are and will continue to be impacted moving forward. Restrictions are still very fluid and macro and currencies remain volatile. In terms of openings, Bolivia, Dominican Republic and Panama were hit the hardest. These countries started the quarter with more severe restrictions on vehicle circulation and alcohol sales and adopting an on- and off-trade opening hours. As the quarter progressed, such restrictions were gradually eased but there are still some in place as we speak.
Chile and Paraguay suffered less because our volumes are heavily weighted toward the Austria channel. Nonetheless, a challenging macro environment has led to a slower recovery in Argentina. In Brazil, where the on-trade channel played an important role, restrictions varied between regions with big cities and urban centers being more affected. We saw a gradual improvement as part of the on-trade start to adapt, operating with deliveries and takeaways, and cities started to reopen.
These small mom-and-pops stores gained relevance as customers choose for local consumption to avoid longer time journeys, partially offsetting the impact on the on-trade channel. Canada, despite an industry decline, our volumes benefited from the strong performance of our premium core plus and beyond beer portfolio. As I have mentioned before, we have a strategy built on three pillars. First, we really want to work as an ecosystem. We are reframing our purpose of bringing people together for a better world, and we have mobilized ourselves by donating our capabilities, competencies in the type of our teams to help solving urgent social challenges.
We were recognized by the United Nations with the Solidarity Award. This award is given to impactful work that individuals and organizations have been taking to support communities as we navigate the pandemic. All this because we have been able to move fast to respond to these social needs. Given a more creative and agile mindset, we could answer the demands of the communities we are part of. In Brazil, we also took part of Movimento Nos, a coalition of end consumer goods companies that will help approximately 300,000 POCs to reopen with a total of BRL 370 million, impacting indirectly more than 3 million people.
Besides all this, it was a moment for us to renew the pact we have with our customers, suppliers and the community. We achieved the all-time high customer satisfaction measured by the NPS metric, doubling our result versus last year for the same period. Second, innovation as a mindset. As markets mature, consumers demand more options to the different occasions, and we are transforming our business to respond faster to demands like that and shifts in market trends. As a result of this transformation, in Brazil, for example, our market share of products launched in the past three years now over-indexed our total market share.
What is driving these results are, a step-up consumer centricity capabilities, flexibility to create unique recipes with exclusive ingredients, a pilot testing approach, the creation of an ecosystem that benefits clients, consumers and suppliers with superior value, and the logic of creating demand ahead of production. Following this formula, we developed Brahma Duplo Malte. We managed to deliver in three months, the volumes we originally planned to deliver by the year two of our business plan. The brand took advantage of the live stream phenomenon.
Incrementality has been higher than expected and margins are healthy for the company. There is still much to do, but we are off to a great start. The live streams were a groundbreaking innovation in media and entertainment, where there was fear, we brought joy. This quarter, we promoted almost 400 live streams with more than half a billion views.
Brands that engaged in lives had an exponential growth on social media. Also, we learned that before and during the lives are excellent opportunities for us to engage with consumers through our B2C platforms. Third pillar of our strategy, business transformation enabled by technology. Where there were movement restrictions, we offered convenience. Our direct delivery systems at consumers' home have grown exponentially.
Our DGC platform, such as Ze Delivery in Brazil to Cerveza in Dominican Republic and Appbar in Argentina are gaining significant traction, as well as our partnership with third-party home delivery platforms. This quarter, Ze Delivery registered 5.5 million deliveries, 3.6 times more than the full year of 2019. Another example is the proprietary B2B platform that we call BEES that has been piloted in the Dominican Republic and that we have started to roll it out in other markets. In Dominican Republic, we already have the majority of our revenues generated through BEES.
And also, we see an opportunity that we could incorporate different segments such as food, dairy products, wine and hard liquors. Although April seems to have been the low point, we will continue to see uncertainty in the market going forward. We are here for the long term, and are confident in our ability to bounce back. We will keep focusing on our people, being there for our consumers and clients, continue to invest toward a winning and fresher portfolio, serving our communities and collaborating with our wholesalers, suppliers, commercial partners and governments. Finally, I would like to thank my team with all my heart.
This was the most challenging quarter of our history, and we were only able to go through it and achieve these results given the amazing people that always have been the foundation of our company. So, thank you all, and let me hand over this to Lucas.
Lucas Lira -- Chief Financial Officer and Investor Relations Officer
Thank you, Jean. Good morning, and good afternoon, everyone. Going into Q2. We anticipated a very tough quarter because of the impact of COVID-19, and that's exactly what happened.
The combination of steep volume decline, which led to operational deleverage and a significant change in channel, package and brand mix had a big effect on our EBITDA performance and profitability. And although the team managed to find considerable savings in terms of costs and expenses, simply put, that was just not enough to offset the COVID headwinds. Going quickly over our business units. Brazil Beer's financial performance was actually better than we originally anticipated at the start of the quarter, thanks primarily to volume trends. This was also the case for Canada.
CAC had a tougher time terms of top line, but the team did a great job to minimize the impact on our profitability. And LAS and NAB Brasil were the two divisions that struggled the most in terms of financial performance. LAS because of Argentina macro and Bolivia COVID-related restrictions and NAB Brazil, thanks to volume decline and higher costs. Having EBITDA declined 33%, EBITDA margin contract nearly 1,000 basis points and net income declined roughly 50%, thanks mostly to the EBITDA decline and that finance results is not something that we're happy about.
But we're facing the brutal facts head on, and we're going to keep working harder and harder to improve our results consistently going forward. But not everything is bad news, though. For instance, we managed to protect our liquidity while working with our suppliers, wholesalers and customers to weather the storm. What was already a robust liquidity profile just got stronger as we quickly accessed credit markets in select countries to enhance our liquidity position, and this has made a difference in terms of our ability to be a reliable partner for these stakeholders. Our wholesalers and suppliers managed to adapt fairly well to the new reality.
And although the trade has struggled more, we have been working with them on several initiatives to support their recovery. Also, another thing to mention is that we quickly revisited our cost structure and expenses. Initiatives like revisiting trade spend given changes in channel mix, renegotiating commercial contracts and revisiting the calendarization of our spend, outsourcing less and leveraging more internal capabilities like our draft line content creation team, and significantly reducing discretionary expenses all had a positive impact overall. We always strive to be as lean and nimble as possible, and frankly, we think this is going to be a must going forward because we simply don't know exactly how long COVID-19 will be around and how things will evolve. And finally, we continue to invest in the future.
We preserved key sales and marketing investment behind the renovation of our portfolio and behind innovation, and we will continue to do so going forward. And even though we reviewed our capex plans and raised the bar to focus on the must haves, we still invested a significant amount of money behind the safety of our people, the quality of our products, commercial priorities and big bets for the future and technology-related initiatives. Several good examples here that I think are worth mentioning. But [Inaudible], we kept that investment.
Cap production and filling capacity are going to be key for the future. Returnable glass bottles for innovation, brewery of the future, B2B and B2C platforms were also preserved. And just to wrap up, looking ahead, one of the biggest challenges that we're going to face will be on how to improve our profitability, no doubt. This won't happen overnight, and volume growth and channel package and brand mix are going to be decisive, which is precisely why we're going to be focusing so much on that going forward. And yes, things will continue to be volatile. We will continue to face some well-known headwinds at this effect, but we will continue to focus on the levers we control to support in a very disciplined way, the commercial agenda and manage the business targeting consistent improvement of our financial performance over time. With that, let's turn it over to Q&A.
Thank you very much.
Questions & Answers:
Operator
[Operator instructions] Our first question is from Thiago Duarte of BTG. Please go ahead.
Thiago Duarte -- BTG Pactual -- Analyst
Thank you very much. Hello everybody. Thanks for taking my question. I have two questions, actually.
The first one is related to box per hectoliter increase in Brazil beer. You guys mentioned in the release the impact of FX translation, as well as mix in channels. So, just wondering if you could elaborate a little bit on the impacts of each one of those in terms of COGS, unitary COGS and Brazil Beer. And the second one, if you could -- you mentioned that you believe that you're up through the market year over year in the quarter, in Brazil Beer itself.
Just wondering if you could elaborate in terms of the different segments in the market, how you perform relative to the competition in premium and mainstream specifically? It was a little bit of a surprise to see the drop in premium, how on-premise seems to be so important there. So, just to understand the magnitude of the variations in each of these categories in your volumes.
Jean Jereissati -- Chief Executive Officer
OK. So, thank you very much for the question, [Inaudible]. So, I'll get the volumes and the market share first. And then, Lucas can talk about the COGS, OK? So as you see in our report, we saw a recovery on volumes sequentially from April in Brazil.
And this was a mix of things that we have seen in the market. It is pretty much the resilience of our category. What we saw in terms of occasions, it is really that this socialized out-of-home occasion was -- has been compensated by that relax at home location, OK? So this is something that is going on in the market that normally happens in more mature markets, and it was -- the strength was accelerated here in Brazil. And I think we were the first one really to pick this journey and accelerate it and bet on it.
So, this was important, not all the countries we saw this transition of occasions and the new occasions popping up. We saw that very clear here in Brazil, weekdays, improving performance, consumers drinking at home on Mondays, Tuesdays, Wednesdays. And then, I really believe that we were very happy in terms of resource allocation following the consumer and really going in that direction, OK? We saw too some reduction on the beach drinking, OK? So when we do researches with consumers, and so that was good news for the industry overall. Having said that, our performance we were -- with this mindset of really following the consumer, our channel strategy was very agile, and we were very happy to be migrate all the resources that we have for mom-and-pops that was the channel that's growing most during the pandemic, and we have a great reach to get this thing right.
And because consumers are really looking for the purchase in shorter journeys. So, this channel is a strong one, and we have been doing well on it. The other one is really the small formats of off-trade that are really picking up. And we really moved completely resource allocation team people to really support these two channels.
And I think that was a very happy strategy. On top of that, we were -- with the innovation in the pipeline that we have been piloted since Q1 in the Carnival, but we really roll it out in the middle of the pandemic that was Brahma Duplo Malte, and we saw a lot of trade-up. We saw a lot of increase. We saw a lot of penetration of this new product.
So, this was really something that surprised us on the upside part of the volumes. A lot of incrementality and a good margin because we're really positioned on the corporate segment. So, this was a part of our plan and made us outperform our best estimates of the industry pretty much in all channels in the small format, mom-and-pops and big formats also. And what we have seen to it is that our premium -- we know that premium is a long-term trend, and our global brands grew double digits on this moment.
So, we are happy with this type of growth during the pandemic. It's true that the VIP entry, draft beer, Chopp Brahma, Original, these are the types of brands that are very related for high-end margin of urban centers, they are suffering a little bit more. But we got it right with the global brands. And what we are seeing, it is that we are seeing no material trade down on the beer category.
What is really surprising us is the resilience of the core, is really something that we have been renovating our portfolio for a while now. So, you know that we launched Skol Pure Malt, that's performing well. We repositioned Bohemia for the core segment for the quarter, and we launched Brahma Duplo Malte. So, this combined strategy with our core brands is something that's really surprised us on total because of the resilience of the core.
So, the core is really with some excitement and with some resilience during the crisis, OK? So I think that's pretty much it about share. So, we are happy with our global brand volumes. The core is more resilient -- can you hear me?
Thiago Duarte -- BTG Pactual -- Analyst
Yes, I'm still here.
Jean Jereissati -- Chief Executive Officer
So the core is more resilient than we expected. So, we are excited about it. There are no material trade down and our performance on the channels, the smaller ones, mom-and-pops and small formats are really -- they are really gaining traction over there.
Lucas Lira -- Chief Financial Officer and Investor Relations Officer
Thiago, Lucas here. So, with respect to your question on COGS per hectoliter, I would say there were three main impacts, OK? The first one, which was anticipated given our hedging strategy was really the headwinds stemming from the devaluation of the real year over year. And so, that was a headwind coming into the quarter. And then, the other two are more COVID-related, so to speak.
The first one being volume deleverage in April, right? So with such a steep decline in volumes, it's just very difficult to offset that. And having less volume to offset, fixed costs took a toll, OK, particularly in April. And then, the third one, which was the biggest impact overall, was really mix, OK, due to the swing, the massive shift that we saw in a very short period of time between one way packaging and RGB, right? And we shared some numbers in the release. Historically, one way cans -- are not the majority of our volumes.
And during the quarter, they became the majority of our volumes. With the off-premise where one way tends to over index the off-premise representing 70%, 7-0, of our volumes in the quarter, right? So such a swing in channel mix have -- has the severe impact on our COGS per hectoliter in the quarter because the cost for cans are higher than the cost per RGB, where you have the returnability element to it, OK? So biggest impact, mix due to the package swing. Then second effects and third operational deleverage, mainly in April.
Thiago Duarte -- BTG Pactual -- Analyst
And just a follow-up on that, Lucas, how that links to this sort of cautionary that you guys made on profitability going forward. It this mainly the reason? We've talked about specialty mix, I believe, channel as well, but specialty mix. Would that make sense to assume that is related?
Lucas Lira -- Chief Financial Officer and Investor Relations Officer
Yes. I think when you refer to cautionary statement in the prepared remarks, am I right to assume kind of the toward the end of my part, where I covered a bit kind of what we're seeing going forward, the challenges, is that what you're referring to?
Thiago Duarte -- BTG Pactual -- Analyst
Yes.
Lucas Lira -- Chief Financial Officer and Investor Relations Officer
OK. Yes. So, I think the -- where that "caution" is coming from, right? I think it's more an acknowledgment of the world we're living in, OK? So right, things have changed drastically since last year. Things are much more fluid, right? Things are changing -- can change really fast.
And so, I think it's an acknowledgment of that, No. 1. No. 2, again, back to our hedging policy, right? If you track how the main currencies that impact us, right, vis-a-vis the dollar are trending, right, that's likely to be a relevant headwind into next year.
So, we think it's worth flagging that to the market sooner rather than later because it's reality. We need to be upfront about it, right? And three, on the mix side, yes, that's going to be a challenge going forward, OK? So historically, we've seen, right, the Brazilian market to be more on-premise RGB-weighed than off-premise one way weighed. That inverted in the quarter and we have a road ahead of us, right, to try and bring that back, bring the pendulum back to RGB and the on-premise as the country reopens, right, as consumers make their way back to the on-premise. But it's going to be a process, right? As I said in my opening remarks, it's not going to happen overnight, right? There's still a lot of uncertainty out there, and we have to also keep an eye on how COVID-19 is going to develop.
Thiago Duarte -- BTG Pactual -- Analyst
That's very clear. Thank you guys. Thank you for detailed answers
Operator
The next question is from Rob Ottenstein of Evercore. Please go ahead.
Rob Ottenstein -- Evercore ISI -- Analyst
Great. Thank you very much. I'm just wondering if you could give us a little bit more about the Ze Delivery. Obviously, it's doing extremely well.
Are you -- what percentage of the country is covered now in terms of May, June, July? Roughly what percentage of your sales is through this channel, and where do you think that can go? And my understanding is that the Ze Delivery does encompass competitors' brands as well. In terms of actual Ze delivery orders, what is your market share.
Jean Jereissati -- Chief Executive Officer
Thank you very much, Robert. Yes, so Ze Delivery let's talk about Ze Delivery. So, Ze Delivery it is a project that we have been for five years right now working on it. And so, we get the right mindset and the right platform for us really to grow exponentially during this crisis.
So, it's part of our direct-to-consumer strategy. Is a way that we see in the future where we can really have this location in home occasion, relaxation, really more efficient from our side because we go direct to consumers. So, we understand their insight, so this is really a way that we can believe that we will upgrade this occasion and get much more -- the location, much more efficient that we have like we have a very efficient occasion on socializing on bars, OK? So it's a big bet for us. So, having said that, so we made 5.5 million orders in Q2.
Last year, it's 3.5 times above the full year of 2019. So, it's really accelerated. We were able to add 100 new cities doing the pandemic during Q2. So, now we are with 142 cities in Brazil, most of the states, we believe that we are covering pretty much 60% of the Brazilian population -- 40% of the Brazilian population, sorry.
And we're going to head into 60% of the Brazilian population by the end of the year. It is still not that big in terms of volumes. We are ramping up, it's big time. I mentioned at some point in time that our long-term view is really to have 10% of our net revenue covered by DTC strategies, not just the delivery, but the full package in the long term.
And what I can say more is that, yes, we are treating that delivery as a stand-alone, a very consumer-centric approach for the delivery. And because of that, we are populating that with different products, sometimes products from the competition, different categories like wines and some type of foods. It is really target on this occasion. I'm at home, I need to have to watch TV, have some party.
I need cold beer with some snacks very fast. So, we're going to do everything that makes sense for the occasion on a consumer-centric way. But our market share is very high, very high, more than 95% today as I just mentioned, it's very high. But we are really thinking the delivery as a consumer-centric approach and we're going to really resolve all the demands that our consumers have.
Rob Ottenstein -- Evercore ISI -- Analyst
Great. That's super. And can you also just mention how the Beck's brand is doing this year.
Jean Jereissati -- Chief Executive Officer
Yes. So, Beck's is really -- so Beck's is small. Now we have like 1-year launch at this moment. We are very excited about it.
It is really growing triple, four digits, but it's up from a very small base. And we have been working on the positioning, working on the new packs. Now we have longneck cans and 600 ml bottles. And last month, was the month that we launched the new market campaign that will position the Beck's brand here in Brazil.
We are focusing on creating brand equity and the correct positioning with the right time, patience on us. This quarter was a quarter that we made the first launch with a DJ, a famous DJ in Brazil, Vintage Culture, a live stream. It became a global trend topic on Twitter, the launch that we had. 1.6 million people looking at the launch, and very premium, very, very sophisticated.
So, doing very well. Patient. Marketing dollars ahead of volumes. And really, what we want to really create is the coolest brand in the market.
Rob Ottenstein -- Evercore ISI -- Analyst
Terrific. Thank you very much.
Operator
The next question is from Alan Alanis of Santander. Please go ahead.
Alan Alanis -- Banco Santander -- Analyst
Thank you so much. My question has to do with this premium segment, Jean, you just mentioned a moment ago that saw it growing double-digit during the quarter. And is that the case, that means that the other rest of the portfolio, some more of mid-single-digit declines, if I'm doing the math right. My specific question is, if we continue to see this premiumization, what should we be expecting in terms of profitability? Because these brands are much more expensive than the rest of the portfolio, yet when we saw the big premiumization movement in '16, '17 and '18, we didn't seem to have a contribution to margin? And will this be reversed, or we should just continue to -- that this will be the case? That would be my first question.
Jean Jereissati -- Chief Executive Officer
So first of all, so yes. So, first of all, what is important to know is that we saw no material trade down during this pandemic, OK? And what surprised us was the resilience of the core, OK? So that was something that we have been talking in the past calls that it was -- try to find the right mix of brands where affordability, affordable brands were growing, high end were growing to, and that at some point in time, these things would net, and you could not see the profitability of the high end because we were growing different segments in different speeds, and it was hard to understand how high end is accretive and has good margins for the future. So, what -- the moment that we are leaving is good because we are seeing the core resilience. And then, more and more, we're going to begin to see the high end bringing its additional performance, that being accretive for the company.
When you are too much on the affordable than the premium, this thing generally, they get met. When the core has resilience, then you can begin to see the high end. The high end, we are happy with the performance of the high end. So, the category in Brazil Beer category has been resilient, what is very good.
Consumers are on fire, talking about innovation, new products, recipes, concepts, meaning. It's amazing how the Brazilian consumer is open to talk and learn more about beer. And this is where -- this is why the high end has been growing for a while. And we believe that it will continue.
We are very happy with the performance of our brands in general, in terms of consumer sentiment, consumer pool. We are seeing more and more Stella with a good performance. Budweiser doing well. Beck's coming in.
Corona are doing very well, even though with all this -- this pandemic into May, and all the thing Corona doing very well in terms of consumer perspective. So, we'll -- so global brands grew double digits. And we are happy, it's part of our plan. And you're going -- if the quarter is resilient, we're going to begin to see, so this will begin to be more accretive net-net.
Alan Alanis -- Banco Santander -- Analyst
No, that's very clear, Jean. I mean, we look forward to seeing that resurgence of core. And as you said, once we have the resurgence of core, we should see the overall contribution expanding of the premium. My next question really quickly, regarding capital structure.
I guess it's more for Lucas, you have 2 billion of net cash in your capital structure. What is the idea of capital structure, what is the ideal level of cash? And what are the -- how are you thinking in terms of the priorities of deploying that cash beyond interest on capital and dividends? If there's some change in your thinking around that.
Lucas Lira -- Chief Financial Officer and Investor Relations Officer
OK. Alan, are you in terms of capital structure and our cash position, I think the first thing is ever since the crisis, right, hit, I think we sought, right, the benefits of having such a robust cash position. That gave us a lot of peace of mind, that gave our team a lot of peace of mind, that gave our wholesalers a lot of peace of mind, clients, customers, suppliers, a lot of peace of mind, right, that we would continue to be, right, a very reliable kind of partner and be there and kind of weather the storm, right, so I think in hindsight, it was helpful to enter the crisis with the cash position that we entered. That's No.
1. No. 2, we've given all the uncertainty that we were seeing at the beginning of the crisis, we decided to kind of have an additional cushion in terms of liquidity. Especially in some markets where we didn't have -- we didn't enjoy the liquidity position that we enjoyed in Brazil, for instance, and so we decided to do some transactions to and access credit markets, either kind of direct bank debt or issuing securities to reinforce our cash position, OK? So why am I saying these two things? It's because going forward, right, the world is not out of the woods yet when it comes to COVID-19.
We're certainly not out of the woods yet when it comes to COVID-19. So, we believe there is merit, right, in being more conservative, if you will, in terms of our cash position going forward, OK? Obviously, we're looking at how things progress. We're working with a multitude of scenarios going forward. And we will -- as the months go by, as the quarters go by, we will look at the conditions of temperature and pressure, right, and analyze what's the optimal capital structure in the new normal that is going to shape up, hopefully, sooner rather than later, OK? But conceptually, right, the way we think about our capital structure and the way we think about our allocation of cash hasn't changed, OK? So we're going to continue to deploy money to reinvest in the organic growth of our business, OK? We still see plenty of opportunity out there.
No. 2, we're going to still look for M&A opportunities in beer or outside beer. We have been investing more and more in alcoholic beverages outside of beer. We've been investing more in nonalcoholic beverages as well.
So, we still think there's opportunity to be opportunistic when it comes to M&A and try to create value through that as well. And then, to the extent, right, we don't find these opportunities, we will be returning excess cash to shareholders, OK, in the form of IOC primarily, given the tax benefits that come with IOC. So, the desire to continue to maximize IOC hasn't changed and will continue to be kind of at the forefront of how we think of payout, in particular. And then, once IOC is maximized, we will look at additional opportunities to return cash to shareholders in the form of dividend buybacks.
But that's going to be more of a judgment call to be discussed between management and the board at the right time, right? I mean we follow this constantly, and we have these discussions, but let's wait toward the end of the year to -- when we have a better picture of how the year's going to end. We see what 2021 may look like, see where we stand in terms of our cash generation, our plan for the future and we'll make a decision, OK?
Alan Alanis -- Banco Santander -- Analyst
Got it. That was very clear. Thank you so much. Thank you, Jean.
Thank you, Lucas. Appreciate it.
Operator
The next question is from Lucas Ferreira of JP Morgan. Please go ahead.
Lucas Ferreira -- J.P. Morgan -- Analyst
Good afternoon, Jean and Lucas, and good afternoon, everybody. I have two questions. The first one is to understand if you have already some flavor, some views on the reopening of the on-premise channel, which is very important for you. So, how NOS has been helping? How has been the sort of traffic? And how many of these places, if your clients are coming back, if it's coming in line with your expectations, maybe above your expectations, how to think about the reopening of the on-premise channel in this kind of first two months.
And the second question is to understand a bit better also the core plus segment, which seems to be a bright spot right now for you guys with Duplo Malte. And so, my question is, how big this segment could be, how fast it's growing? And what sort of innovation are you guys also kind of working on for this segment. Is there a space for maybe another brand or to expand geographically? Can you discuss a little bit the core plus and sort of the value the core plus offers to the consumers.
Jean Jereissati -- Chief Executive Officer
OK. So, let me tackle first the reopening. So, more and more is getting cleared clear for us that everybody is reinventing the bars mainly when we talk about not the high-end urban centers' bars, but really talk average bar in Brazil is really trying to maintain open, is really reopen fast. But really changing the way it's doing business.
So, like changing the packaging and then with this coming to collect deliveries and takeaways. So, the bars are getting -- the average bar of Brazil is getting more close to a mom-and-pop, so we are working on some occasions like that. So, we are seeing for now, like if you get total Brazilian bars, maybe something like 15% of the bars are really, really closed but reopening. But with the volumes per box still is small.
We know that government is really still with some plans to help the reopenings. So, we believe more -- it's going to be that -- the main issue that we're going to have is pretty much about the occasion and not about the channel. We believe that the channel -- in the speed that is going with the transformation and with some help of the government, we believe that the channel will get it right in the future. The issue is pretty much about the occasions, about consumers coming, it's about the protocols.
It's about the number of people in bars restricted. So, this occasion, I think it will take a little bit more time to get it back, to get it right. And so, that's why it's important that we are really figuring out how to help to create new occasions, accelerate to be on new occasions like the weekday relaxation at home that we have seen as a trend in Brazil that we knew that it happens in mature markets, but it really accelerated for us. So, this is where -- this is how we are dealing with it, OK? So the second thing is about the core plus.
So, I came from China, the core plus segment there is kind of 20% of the market. We see that it's an important market in the U.S. too. So, all the markets they have this well-established core plus segment that can go from 10 to 20-something.
In Brazil, we don't have nothing established there. So, even though the -- so we have the premium, and then we have the core, some brands that came in the past tried to position that, but quickly for the core segment. So, there is a space there that we really want to that we really want to focus and develop. So, the brand that we started that right, it was Brahma Duplo Malte.
We repositioned Bohemia, too, to play there. But we -- even though with Brahma Duplo Malte with a price positioning ahead of Bohemia. So, Bohemia is playing a role on that. And we believe that we still can have one or two brands on that opportunity but still study.
So, Brahma Duplo Malte, that is our main initiative right now on that. It's already in all the states of Brazil. It's something that is already growing very fast, acquiring new consumers, good repurchase. So, it's really something that we are happy with it.
It's part of our innovation strategy to populate and to find ways to make the core plus right. We still believe there is an avenue of health and wellness in the core plus that we can tackle. So, we are thinking of it, talking with consumers, understand expectations on that. But that's also the core plus and the innovation is really what we have.
We just started Brahma Duplo Malte doing very well, but more to come.
Operator
The next question is from Marcella Recchia of Credit Suisse. Please go ahead.
Marcella Recchia -- Credit Suisse -- Analyst
Thank you for having my question. Basically, I have two quick questions. The first one is about the trends. Basically, you have seen larger retailers signaling solid trends in July, largely in line with June.
So, could you give us some color on July trading for Brazil Beer, if this is also the case for you guys? And secondly, with the likelihood of having the Carnival postponed toward second Q, could you elaborate how do you see such event with regard to your activation strategy and beer sales performance?
Jean Jereissati -- Chief Executive Officer
So let me try to get your question right again. So, you are asking about margins. We couldn't hear you that well --
Marcella Recchia -- Credit Suisse -- Analyst
Not really. No, not really. The first question was about, if you can give some color -- sorry.
Jean Jereissati -- Chief Executive Officer
Can you make again your question?
Marcella Recchia -- Credit Suisse -- Analyst
Sure. The first question is about a trading update on July. Basically, we have seen larger retailers that are signaling solid trends in the month of July, largely in line with the trend seen in June. So, if you can give us some update on what you saw during July it would be very helpful.
And the second question would be the Carnival. Is the likelihood of having the event postponed toward the second Q next year. Could you elaborate how do you see such event with regards to your activation strategy and beer sales performance.
Jean Jereissati -- Chief Executive Officer
Yes. So, first of all, so we -- I will get back to our performance on June -- on May, June and July that we have been as some best, really recovering and went to the positive territory on July -- on June. And then, we -- in the end of July, we will not comment during this quarter the performance of July. So, this is something that we decided internally here, not to give any guidance on that.
So, this is one thing. The second thing, when you talked about the Carnival. So, yes, so situation is still very fluid. So, there is all this back and forth cities here and there, a big agenda of Carnivals being talked right now.
The best guess that we have is really that probably the Carnival will be really postponed. We are seeing the conversation about merging it with -- in June with the some -- with the social home calendar or even going further a little bit. We were -- just to let you to know, we were talking about our innovation strategy for the next year. We postponed one or two innovations that really depend on the Carnival for us to make it right.
So, we are following closely this phenomenon, and I don't think it's a big deal, but we just have to get it right when it is and use it properly.
Marcella Recchia -- Credit Suisse -- Analyst
OK. And if I may have just a quick follow-up with regards to the non-alcohol category. Can you comment a little bit your strategy to attack such a trend that we saw in the second quarter in order to revert that for the remaining of the year?
Jean Jereissati -- Chief Executive Officer
NAB?
Marcella Recchia -- Credit Suisse -- Analyst
Yes.
Jean Jereissati -- Chief Executive Officer
So NAB, it took a little bit more time so -- to went down. So, beer went down faster than NAB. And then, NAB at some point in time, we believed that this would be a category more resilient but it didn't prove that, right? Looks like beer is more resilient. In the end, we have pretty much some effect that impacted the performance of NAB.
One is really the volumes that it was to impact. The second one is really the reduction of consumption occasions for example, we have in our portfolio Gatorade, so that people will use to run and then get Gatorade on the go. So, all these occasions on the go are occasions that are very -- being impacted. So, we talked a lot about mix in beer, but it's really that the single serve and the multi serve is really something that it was a big impact on the category of soft drinks.
That has a completely different proposition in terms of net revenue per hectoliter, in terms of margin. It was a big impact. A little bit of trade down are in soft drinks, too, differently, that's what I mentioned for beer. And then, we had a high hope in our business because of the lower tax credit of the free trade loan that we have in Brazil.
So, there is some kind of hard comp, some kind of phasing on the cost side that we have in the NAB business. So, we believe that -- so that's pretty much it. So, that's, I think, what I can mention.
Marcella Recchia -- Credit Suisse -- Analyst
OK. Thank you very much, guys.
Operator
The next question is from Isabella Simonato of Bank of America. Please go ahead.
Isabella Simonato -- Bank of America Merrill Lynch -- Analyst
Thank you. Good morning, Jean. Good morning, Lucas. Thank you for the call.
I have two questions. First, on Brazil, you usually mentioned how the market performed during the quarter in December. This might be more difficult this time. But can you give us a sense on how do you see the evolution of the market sales during the month of Q2.
And the second quarter will be at the last division where we saw a big drop in margins, and I understand that the social distancing, right, in Argentina, Bolivia, as well as the economic situation are not easing. How can we think about profitability in LAS going forward?
Jean Jereissati -- Chief Executive Officer
OK. So, let me get it right. So, first, we're talking about the industry. Second question, we are talking about LAS?
Isabella Simonato -- Bank of America Merrill Lynch -- Analyst
Yes.
Jean Jereissati -- Chief Executive Officer
And a little bit of the mix and competitive landscape that you mentioned.
Isabella Simonato -- Bank of America Merrill Lynch -- Analyst
Yes. And the industry, if you could focus on Brazil for beer, that would be greatly appreciated.
Jean Jereissati -- Chief Executive Officer
Yes. So, you saw our volumes. Our volumes were 1.3% declined. And we believe that we outperformed the industry according to our estimates.
So, we are really trying to get exactly right where the industry is. It's not been easy because we are really looking at all the information that we have to kind of to get this thing -- to get the industry exactly right. So, for example, using as a simple data set and it has its limitations. And now during COVID restrictions have further exacerbated the limitations to really for us -- to really get the number of the industry right.
So, we are waiting a little bit more to get confident about this number. But in our internal estimates, we see a recovery on the industry. We saw an overshoot in March. And then, we begin to see the recovery in the industry in general.
And so, we are seeing more and more the industry getting close to the last senior. And -- but it would be good to have a little bit more time to really get the right number on that, OK? So that's what I can say about the industry. Talking about LAS, talking about in Argentina, volumes declined by low teens in the quarter with revenue per hectoliter growing by double digits as a result of our revenue management initiatives. At a highly inflationary environment, in this quarter, in Argentina Beer category was impacted by the restricted measures that they are even tougher than what we saw here in Brazil.
But our business is more toward the off-trade. So, we compensate the restrictions with the in-home occasion that is more developed. And despite the decline in the industry, we saw good performance of our e-retail platforms. Our premium mix, it is something that is growing.
As we saw in Brazil, premium mix is growing Argentina. Core plus is healthy there, so with our Andes brand. Corona is doing well, Andes is doing well. So, we are seeing this thing about excitement of consumers about high-end and differentiated core brands, which allowed us to perform ahead of the industry in Argentina.
Bolivia, it's because we have more restrictions that have been more impacted because of COVID. And this is -- it will take a little bit more time to come back. All the country is still really dealing with the upgrade in the infrastructure, in the hospital infrastructure. So, this is where our biggest restrictions as our industry are.
Paraguay, it's recovering very well in terms of country, it is the population that we have more confidence in our zone, so the volumes are already coming back in Paraguay well.
Lucas Lira -- Chief Financial Officer and Investor Relations Officer
And to add -- just to add to that, Jean, I think it's fair to say that Bolivia is where we have seen the slowest pace of recovery. Lowest recovery, right? And I think that's kind of what may end up happening going forward as well, depending on how the country tackles the pandemic. But it's been the slowest pace of recovery across kind of all our markets.
Isabella Simonato -- Bank of America Merrill Lynch -- Analyst
That's very clear. Thank you.
Operator
The next question is from Leandro [Inaudible] of Bradesco. Please go ahead.
Leandro Fontanesi -- Bradesco -- Analyst
Hi. Thank you. Good afternoon. I have three questions. First one regarding pricing.
I understand this time last year and historically you used to implement price increases. If you could comment where we stand on price increases this year. The second question, you mentioned that volumes, of course, it's a component explaining your margin decline. But when we look into June, which was a month where you did not have a volume decline, if you could comment what was the margin contraction.
And the third question, last year -- in the last quarter, you mentioned that second half 2020 was going to be a challenging quarter because of competition. I want to like to know if that view has changed.
Jean Jereissati -- Chief Executive Officer
Next quarter?
Lucas Lira -- Chief Financial Officer and Investor Relations Officer
Yes. Could you repeat the last question, it wasn'tclear. Could you repeat it?
Leandro Fontanesi -- Bradesco -- Analyst
Last year, in the last quarter, in the presentation, you mentioned that you expected the second half of 2020 to be a challenging half with regards to competition. And so, I would like to know if that view has changed at this moment.
Jean Jereissati -- Chief Executive Officer
OK. OK. So, talking about pricing first. I mentioned, and Brito mentioned, too, I mentioned in the first call that we participate that we had to learn with the Q3 that we had in 2019, we were not successful on our revenue management strategies.
We have to come back and come, and we usually have been very rigid on our revenue management strategy. And that quarter was a quarter for us to look and learn with it, OK? So this is one thing. Second thing is that as we think about pricing, we will -- we know that there is COVID. So, we have the learning of the Q3 last year.
And we are in the middle of a pandemic that will make us be paying even closer and special attention to disposable income. Packaging channel mix, as well as the learnings of Q3 of last year that simply didn't work as expected. So, despite this positive volume recovery trend in Q2, the consumption environment still remains volatile. The future is still uncertain.
We are looking very close to it. So, we want to really make sure that our category remains attractive and available, inclusive to consumers during the pandemic. Over the long run, prices should really grow in line with inflation and, plus and minus the segments and the regions mix. What we have learned over the past last year is that depending on the moment and the economic environment, it's preferred to adopt a more balanced pricing strategy or postpone it for the right moment.
And we are looking very closely at the macro scenario elasticity experience really to make our call, particularly here in Brazil. So, having said that, margins, yes, we talked about the best -- the future that we recover top line on a V shape and really marked -- and really, margins, it will take more time to come through. We expect a bottom line to have a slower recovery than top line. That was pretty much our strategy, follow the consumer, do not lose the grip, be on the new occasions, enhance your consumer intimacy, and we are happy with that strategy.
But the channel is impacted shift dynamics toward the off-trade and the cost pressures that we have on mix, on cans and on transactional effects, it's something that we were going to take a little bit more time to digest. Having said that, we expect margins in the long-term to improve as a result of the volume recovery. The on-trade reopening with the increased wave of RGBs. The core plus materializing and premiumization as a strategy, the continued innovation.
We are so excited about this innovation outside of beer that we have BGT, so different liquids, very incremental, very accretively priced, very above the beer, completely different consumer. And one piece of our strategy is really the capex investments in technology, in our context strategy, footprint in the supply chain, really to get us to get more efficient going through this recovery of margins, OK?
Lucas Lira -- Chief Financial Officer and Investor Relations Officer
And then, sorry, just to -- before you go to competitive environment, Jean, to your question about June margins specifically, OK? We're not going to go into that level of detail just because it's one month right? And we think margins is more about the direction and the journey. I think -- but suffice to say that in June, you see the power of volume, right, recovery when it comes to margins, right? So it's fair to say that June margin performance was better than the prior months as a result of the volume recovery, OK? But let's wait and see how things pan out going forward. Yes.
Jean Jereissati -- Chief Executive Officer
And talking about -- so when we look at talking about the competitive scenario in terms of tough comps in 2020, in reality, our toughest comp was Q1. Q1 is where we over-indexed the market share last year. And in H2, it was more like in terms of competitive environment, easier comp because the volumes were down in Q3. And because of the strategy on pricing that didn't work as expected in Q3.
So, volume was light. H2, it's the most competitive one, the tougher comps really Q1, it's not H2, OK? So that's the point. So, having said that, Brazilian market, very fluid, all is very competitive. And with the pandemic it has been challenging, the environments we operate.
We are pretty much leveraging all the competitive advantages that we have. So, it's very important in this moment to have reliability and operational excellence. So, our -- so we are increasing big time, the customer satisfaction, the relation with our customers because we have been reliable. So, the reach of our strategy, of our distribution is something that really made the difference in this moment.
And all the operational excellence reliability is something that has been a very counted by our clients. We focused a lot on consumers to being sensible. So, digital transformation is really helping us to have multiple points of contact for customers. Customers can make the orders by phone, by B2B, by the sales rep that can visit.
So, we have multiple points of contact. We are -- we have that delivery for consumers. So, we are really upgrading the possibility to get our network right and working. And the general strategy that we had, it was really something that is paying off, and I think it will continue to pay off.
So, this grid with mom-and-pops, this grid provides small off-trade is really something that we believe it will continue for a while.
Leandro Fontanesi -- Bradesco -- Analyst
OK. So, just to be clear, you don't expect competition to get stronger in the second half of 2020. So, you expect to be about the same of what you're seeing up to now in the year.
Lucas Lira -- Chief Financial Officer and Investor Relations Officer
Yes. It's hard to tell, right? What exactly is going to happen with competition going forward, right? I think the important thing, at least how we look at it, right, is, one, focus on what the consumer wants, right, and where the demand is, OK? No. 2, focus on the customer, right, and really try to strengthen the ties with the trade. And I think in Q2, we made some good decisions around that, OK? And then, three, as Jean mentioned, we need to leverage our competitive advantages as a company, right? So having a single, well-established distribution network that was built over 20 years in terms of direct distribution, having a very well-established network of wholesalers that also has been with us for over 20 years.
These things at a time like this, where the rise has -- where the tide has arisen for everybody, right? It's tough for everybody, right? But the fact that we've had such powerful distribution reach, direct distribution and wholesalers has made a difference, and we're going to continue to focus a lot on that, right? And then -- yes, that's pretty much it.
Leandro Fontanesi -- Bradesco -- Analyst
Alright. Thank you very much.
Operator
The last question comes from Joao Soares of Citigroup -- please go ahead.
Joao Soares -- Citi -- Analyst
Hi. Good afternoon. Thanks, everybody. So, I have two questions.
First one, I just wanted to touch base on the topic of government subsidies and the vouchers. You mentioned this in the release as being one of the factors that helped guarantee the -- some resilience of the volumes. And how do you view this -- when this is out of the picture, what do you think this will have an effect on -- obviously, an impact on consumer disposable income. So, what do you think might be the effect in terms of what -- how could it drive volumes? And the second point, just to be clear, I think looking at the revenues per hectoliter, declining in Brazil Beer by less than 2% year over year.
We have a series of headwinds and a series of mix shifts going from on-premise to off-premise, obviously some brand shifts. So, how do you think -- what could have been the positive factors that could have offset this? I mean, when you compare to NAB, NAB went down 15% year over year, of course, it has its specific dynamics. But just comparing the two, really it comes to attention the resilience in terms of the revenues per hectoliter as well in the Brazil Beer. So, if you could discuss this as well, appreciate it.
Jean Jereissati -- Chief Executive Officer
OK. So, first of all, corona vouchers. I think it's really something that is there, it's a relevant movement in support of the government. It's really something that we believe made some difference, has an impact on the consumer behavior.
And this will be phased out at some point in time. And we have to understand that this part, it was a piece, that it was not like fundamental when it's structural for what -- for the volume that we have seen. But there is some marginal -- some incremental effect that we have to deal with when these things come out. We know that when these things come out, too, probably it will come some support for -- in terms of debt to retailers like what we are seeing a lot of the conversation about being there, trying to support the channels.
So, I think we want to jump in at different type of incentives moving forward. That we -- that should help at some extent, too. But we know that this thing is something that it will come and go and we have to keep an eye on it. So, talking about prices.
So, we are not seeing -- so this number that you see, it is pretty much about the general impact and the mix impact, the performance that we have in Brazil. It is not something that more than that. So, it is really business as usual with this different channels and with this different mix going on, then leading to the price that you saw. We believe that when the things -- so for example, we have draft beers that is really high-end VIP box that's like 70% below last year.
This does add a little on that. So, we have -- so these things should come back slowly. Moving forward, it's not just about the reopening of the bars. It's really about the confidence of consumers really jumping into the socializing occasion when the bars are open.
So, we know it will take a little bit more time moving forward. And then, we have -- so the decisions that we have to do in terms of what to do with the revenue managing inflation in calendar moving forward, in this, we are pretty much paying even closer attention to this disposable income, how this coronavirus will impact disposable income, really to make a call in a proper way, in a way, in a different way than we did last year.
Lucas Lira -- Chief Financial Officer and Investor Relations Officer
And then just to the part of your question around net revenue per hectoliter performance in NAB, right? I think as it compares to beer -- I think apart from the volume impact, which obviously is one thing to consider. Just the way the mix changed within non-alcoholic beverages. What led to a more pronounced effect on net revenue per hectoliter, just to give you an example, right? Premium soft drinks, OK? So premium soft drinks suffered much more in -- than our premium portfolio in beer, right? And so -- and another example is single serve and multi serve, right? So the swing from single serve where net revenue per hectoliter tends to be higher to multi serve, right? That had a much more pronounced impact in terms of nonalcoholic beverages, then the mix shift between one way and RGB for beer.
Joao Soares -- Citi -- Analyst
Just one more -- so one more follow-up very quickly. Jean, based on what you see in China, what do you think -- I mean, when the situation starts to reach a more normalized -- if we can say it that way. But looking into the pricing environment, do you think -- how aggressive do you think the pricing environment could be based on what you see in China?
Lucas Lira -- Chief Financial Officer and Investor Relations Officer
Yes. How aggressive the pricing environment based on that -- I think it's very hard to say, honestly, OK? Again, we're going to focus on the consumer, the customer, our brands, tackling the consumer occasion, OK? Time will tell what happens to the pricing environment.
Jean Jereissati -- Chief Executive Officer
I think the most relevant thing that I can mention is that things will take time to come back to normal, OK? But our category is very resilient. And we are seeing these new occasions popping up that -- so the socialized occasion, for example, night life in China. It's really something that it will take time to recover. But there are new occasions, in e-commerce, in home, growing in China, growing in Brazil, relaxation, week days, Mondays, convenience, I want it right now that delivery.
So, we really have to readjust, to go through -- and then it looks like it's possible. Net-net, category is very resilient. But the socializing occasion in bars we saw it will take a little bit time here to come back, for people to really get confidence on that. We have seen this a little bit in China, but another occasions are popping up.
And you have to grab and you have to support. And that's a way for us to go through the situation. So, resilient, but different for a while. Come back to normality, I believe normality will really be people confident in bars and then residual occasions that appeared during this pandemic that was not supposed to be here, relaxation at home, that we will stay and will be incremental for the future.
Joao Soares -- Citi -- Analyst
Thanks so much.
Jean Jereissati -- Chief Executive Officer
So I think that's pretty much it, no? Thank you very much. Thanks for joining this call. We still have a long and bumpy road ahead of us, but we believe we are on the right track. So, see you next quarter.
Thank you very much.
Operator
[Operator signoff]
Duration: 88 minutes
Call participants:
Jean Jereissati -- Chief Executive Officer
Lucas Lira -- Chief Financial Officer and Investor Relations Officer
Thiago Duarte -- BTG Pactual -- Analyst
Rob Ottenstein -- Evercore ISI -- Analyst
Alan Alanis -- Banco Santander -- Analyst
Lucas Ferreira -- J.P. Morgan -- Analyst
Marcella Recchia -- Credit Suisse -- Analyst
Isabella Simonato -- Bank of America Merrill Lynch -- Analyst
Leandro Fontanesi -- Bradesco -- Analyst
Joao Soares -- Citi -- Analyst
More ABEV analysis
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Companhia de Bebidas das Americas (NYSE: ABEV) Q2 2020 Earnings Call Jul 30, 2020, 11:00 a.m. Operator [Operator signoff] Duration: 88 minutes Call participants: Jean Jereissati -- Chief Executive Officer Lucas Lira -- Chief Financial Officer and Investor Relations Officer Thiago Duarte -- BTG Pactual -- Analyst Rob Ottenstein -- Evercore ISI -- Analyst Alan Alanis -- Banco Santander -- Analyst Lucas Ferreira -- J.P. Morgan -- Analyst Marcella Recchia -- Credit Suisse -- Analyst Isabella Simonato -- Bank of America Merrill Lynch -- Analyst Leandro Fontanesi -- Bradesco -- Analyst Joao Soares -- Citi -- Analyst More ABEV analysis All earnings call transcripts This article is a transcript of this conference call produced for The Motley Fool. These small mom-and-pops stores gained relevance as customers choose for local consumption to avoid longer time journeys, partially offsetting the impact on the on-trade channel. | Operator [Operator signoff] Duration: 88 minutes Call participants: Jean Jereissati -- Chief Executive Officer Lucas Lira -- Chief Financial Officer and Investor Relations Officer Thiago Duarte -- BTG Pactual -- Analyst Rob Ottenstein -- Evercore ISI -- Analyst Alan Alanis -- Banco Santander -- Analyst Lucas Ferreira -- J.P. Morgan -- Analyst Marcella Recchia -- Credit Suisse -- Analyst Isabella Simonato -- Bank of America Merrill Lynch -- Analyst Leandro Fontanesi -- Bradesco -- Analyst Joao Soares -- Citi -- Analyst More ABEV analysis All earnings call transcripts This article is a transcript of this conference call produced for The Motley Fool. Companhia de Bebidas das Americas (NYSE: ABEV) Q2 2020 Earnings Call Jul 30, 2020, 11:00 a.m. Initiatives like revisiting trade spend given changes in channel mix, renegotiating commercial contracts and revisiting the calendarization of our spend, outsourcing less and leveraging more internal capabilities like our draft line content creation team, and significantly reducing discretionary expenses all had a positive impact overall. | Operator [Operator signoff] Duration: 88 minutes Call participants: Jean Jereissati -- Chief Executive Officer Lucas Lira -- Chief Financial Officer and Investor Relations Officer Thiago Duarte -- BTG Pactual -- Analyst Rob Ottenstein -- Evercore ISI -- Analyst Alan Alanis -- Banco Santander -- Analyst Lucas Ferreira -- J.P. Morgan -- Analyst Marcella Recchia -- Credit Suisse -- Analyst Isabella Simonato -- Bank of America Merrill Lynch -- Analyst Leandro Fontanesi -- Bradesco -- Analyst Joao Soares -- Citi -- Analyst More ABEV analysis All earnings call transcripts This article is a transcript of this conference call produced for The Motley Fool. Companhia de Bebidas das Americas (NYSE: ABEV) Q2 2020 Earnings Call Jul 30, 2020, 11:00 a.m. So that was something that we have been talking in the past calls that it was -- try to find the right mix of brands where affordability, affordable brands were growing, high end were growing to, and that at some point in time, these things would net, and you could not see the profitability of the high end because we were growing different segments in different speeds, and it was hard to understand how high end is accretive and has good margins for the future. | Operator [Operator signoff] Duration: 88 minutes Call participants: Jean Jereissati -- Chief Executive Officer Lucas Lira -- Chief Financial Officer and Investor Relations Officer Thiago Duarte -- BTG Pactual -- Analyst Rob Ottenstein -- Evercore ISI -- Analyst Alan Alanis -- Banco Santander -- Analyst Lucas Ferreira -- J.P. Morgan -- Analyst Marcella Recchia -- Credit Suisse -- Analyst Isabella Simonato -- Bank of America Merrill Lynch -- Analyst Leandro Fontanesi -- Bradesco -- Analyst Joao Soares -- Citi -- Analyst More ABEV analysis All earnings call transcripts This article is a transcript of this conference call produced for The Motley Fool. Companhia de Bebidas das Americas (NYSE: ABEV) Q2 2020 Earnings Call Jul 30, 2020, 11:00 a.m. Things can change rather quickly, and profitability was and should continue to be a challenge, as our great socializing occasions are and will continue to be impacted moving forward. |
28269.0 | 2020-07-21 00:00:00 UTC | Ambev Is Both Sinful and Defensive, and Worth a Look | ABEV | https://www.nasdaq.com/articles/ambev-is-both-sinful-and-defensive-and-worth-a-look-2020-07-21 | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Brazilian brewing company Ambev (NYSE:ABEV) isn’t extremely well known among traders in the United States. Ambev stock isn’t talked about much in the U.S. mainly because the company is less famous than Ambev’s corporate parent, Anheuser-Busch Inbev (NYSE:BUD), and Ambev’s beer-producing competitor, Heineken (OTCMKTS:HEINY).
Source: rmcarvalhobsb / Shutterstock.com
Much of this is due to a general home-country bias among stock traders. That’s unfortunate because people are missing out on a company with real potential. Granted, Ambev stock didn’t recover fully from the novel-coronavirus crisis like some stocks have done in recent months.
This, however, doesn’t mean that ABEV won’t get back to its previous peak price at some point. Some folks will pigeonhole Ambev stock as a sin stock. But a case can be made that it’s also defensive investment with growth potential.
A Closer Look at Ambev Stock
Priced quite affordably, Ambev stock only cost $2.80 per share recently. The stock is a good value as it has a trailing 12-month price-earnings ratio of just 14.83. That compares favorably to BUD (32.56) and HEINY (23.39).
Not only that, but Ambev offers a generous forward annual dividend yield of 4.56%. That’s a bigger payout than what BUD (2.69%) and HEINY (2.31%) have to offer at the moment.
The 7 Best Cheap Stocks Under $10 Right Now
As far as the price action is concerned, it seems that Ambev stock may have been excessively punished during the onset of the Covid-19 pandemic. The shares started this year at around $4.70, only to plunge below $2 in March. There’s been some price recovery since that time, which is a sign that the bulls may be in control of the action now.
A Legal Monopoly?
One feature that can make an investment more defensive is when the company has a monopoly, or at least a near-monopoly, in its market sector and geographical area.
It’s an even safer investment when the company isn’t under any imminent threat of a breakup of its monopoly. For example, it might not be a great idea to invest in a company if the local government is investigating that company for anti-competitive practices.
Ambev currently has no such impending threats. Moreover, as InvestorPlace contributor Ian Bezek points out, Ambev operates within a sizable consumer market:
“Brazil alone has more than 200 million people, and Ambev has access to many millions more with its businesses in the rest of the Americas. Ambev also enjoys concentrated markets; it’s No. 1 or 2 in virtually all its markets and has monopolistic market share in many places.”
Some folks might not like the idea of Ambev having monopolistic control over certain markets. Yet, that’s the reality of the situation and it’s probably net bullish for Ambev stock.
Protecting Liquidity
Informed investors have every right to ask companies what they’ve been doing to shore up capital during the pandemic. Preserving liquidity should be a top priority for companies now, and Ambev has demonstrated a commitment to reducing its capital expenditures.
Ambev Chief Financial Officer Lucas Machado Lira itemized a number of cost-cutting measures the company has either taken or planned to take:
Reduced spending on travel and internal events
Revisited Ambev’s marketing investments
Suspended “investments that are tied to large scale events that have been suspended or postponed”
Internalized some services
Reviewed Ambev’s trade spend on the company’s on-premise channel
Suspended or shifted “content creation … that does not speak to what consumers are currently going through”
Ambev stock might be categorized as a sin stock, but the company doesn’t seem to be committing the sin of overspending. If anything, it’s commendable that Ambev is doing what’s necessary to reduce costs and hopefully boost its bottom line.
The Bottom Line on Ambev Stock
For the time being, Ambev isn’t as well-known in the U.S. as Anheuser-Busch Inbev and Heineken. Plus, sometimes gets unfairly labeled as a sin stock.
However, traders should pay more attention to Ambev and consider the company’s shares as a defensive investment. The shares could regain their pre-pandemic peak, bringing substantial returns to patient shareholders.
David Moadel has provided compelling content – and crossed the occasional line – on behalf of Crush the Street, Market Realist, TalkMarkets, Finom Group, Benzinga, and (of course) InvestorPlace.com. He also serves as the chief analyst and market researcher for Portfolio Wealth Global and hosts the popular financial YouTube channel Looking at the Markets. As of this writing, David Moadel did not hold a position in any of the aforementioned securities.
The post Ambev Is Both Sinful and Defensive, and Worth a Look appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | InvestorPlace - Stock Market News, Stock Advice & Trading Tips Brazilian brewing company Ambev (NYSE:ABEV) isn’t extremely well known among traders in the United States. This, however, doesn’t mean that ABEV won’t get back to its previous peak price at some point. One feature that can make an investment more defensive is when the company has a monopoly, or at least a near-monopoly, in its market sector and geographical area. | InvestorPlace - Stock Market News, Stock Advice & Trading Tips Brazilian brewing company Ambev (NYSE:ABEV) isn’t extremely well known among traders in the United States. This, however, doesn’t mean that ABEV won’t get back to its previous peak price at some point. A Closer Look at Ambev Stock Priced quite affordably, Ambev stock only cost $2.80 per share recently. | InvestorPlace - Stock Market News, Stock Advice & Trading Tips Brazilian brewing company Ambev (NYSE:ABEV) isn’t extremely well known among traders in the United States. This, however, doesn’t mean that ABEV won’t get back to its previous peak price at some point. Ambev stock isn’t talked about much in the U.S. mainly because the company is less famous than Ambev’s corporate parent, Anheuser-Busch Inbev (NYSE:BUD), and Ambev’s beer-producing competitor, Heineken (OTCMKTS:HEINY). | InvestorPlace - Stock Market News, Stock Advice & Trading Tips Brazilian brewing company Ambev (NYSE:ABEV) isn’t extremely well known among traders in the United States. This, however, doesn’t mean that ABEV won’t get back to its previous peak price at some point. Some folks will pigeonhole Ambev stock as a sin stock. |
28270.0 | 2020-07-14 00:00:00 UTC | Grab Ambev Stock While The Market Is Still Hungover | ABEV | https://www.nasdaq.com/articles/grab-ambev-stock-while-the-market-is-still-hungover-2020-07-14 | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Ambev (NYSE:ABEV) is one of the world’s largest brewing companies. It’s right up there with its corporate parent, Anheuser-Busch Inbev “ABI” (NYSE:BUD), and rival Heineken (OTCMKTS:HEINY). Ambev’s market capitalization reflects its size; even after a punishing decline in Ambev stock, the company is still worth almost $50 billion.
Source: rmcarvalhobsb / Shutterstock.com
Even so, Ambev may be less of a household name for U.S.-based investors. That’s because Ambev is ABI’s subsidiary for most of the Americas. Ambev derives the majority of its business from Brazil; it also has large franchises in Canada and the rest of Central and South America.
Brazil alone has more than 200 million people, and Ambev has access to many millions more with its businesses in the rest of the Americas. Ambev also enjoys concentrated markets; it’s No. 1 or 2 in virtually all its markets and has monopolistic market share in many places.
Despite the positives, Ambev stock has plunged in recent months. Here’s what went wrong, and how things will turn around for Ambev.
Beer Is Tapped Out
It’d be easy to look at Ambev’s stock chart and assume that the company has some sort of unique problem. After all, Ambev shares hit their lowest point in the past decade during the March crash. That’s obviously disappointing for long-term investors.
10 Micro-Cap Stocks to Buy Today for Value and Growth
Keep in mind, however, that it’s not only Ambev. Corporate parent ABI saw its own stock lose as much as two-thirds of its value in recent years. Other regional competitors, like Chile’s leading brewer Compania Cervecerias Unidas (NYSE:CCU) are also down 50% off their highs. So, this is hardly just an Ambev problem.
What’s driving beer’s poor performance? The novel coronavirus is one clear problem. Much of beer consumption occurs “on-premise” which is to say at bars and restaurants. Ambev is particularly tied to this. Across much of South America, bars and local restaurants sell beer extremely cheaply and thus are hugely popular places to hang out. It’s an affordable luxury, even for lower-class workers.
However, with the coronavirus, much of this sales activity is gone. Colombia, for example, has been under perpetual hard quarantine (no sit-down bars or restaurants whatsoever) since early March. That’s a stark difference from Europe and the U.S. (markets where Ambev isn’t present) where reopening is occurring at a much faster pace.
Even ignoring coronavirus, beer has faced other struggles. For one, younger drinkers have shown a growing preference for spirits in recent years. That shift in alcohol market share has hurt pure beer players.
Additionally, the move toward craft beer has hurt macro beer at the margins. Craft beer is not widely consumed in most of Ambev’s markets other than Canada. However, craft still hurts sentiment, particularly among investors who aren’t familiar with the South American big brand-favoring beer market on a firsthand basis.
Ambev Stock Will Get Through This
Ambev has several points in its favor. For one, it controls nearly 60% of the Brazilian market. The major competitor is Heineken, however when two companies control most of a mass market, there’s plenty of profit to go around.
In other Latin American markets, Ambev has as much as 90% market share and faces even fewer challengers to its dominance. While currencies and economies will fluctuate, beer sales are steady business. As the dominant player in numerous countries, Ambev will keep earning profits.
Additionally, Ambev has a fantastic balance sheet. In fact, it holds a net cash position. That’s a huge advantage versus the likes of an ABI or Molson Coors, both of which have tons of debt. Investors may be trading Ambev similarly to those other stocks; if beer is down, then Ambev should fall as well you might think.
However, since Ambev has no debt, it’s in far better shape to hold on while the economy is weak. Molson Coors and ABI, by contrast, have slashed their dividends and cost structures to try to conserve cash.
Ambev Stock Verdict
For a company that is near its lowest level in 10 years, there is a surprisingly high number Ambev skeptics. The concerns about the coronavirus make sense; sales will be weak until South America starts to get back to normal. The continent has been absolutely slammed by the virus, so it will take a while for things to open back up.
More broadly, however, the concerns about Ambev just don’t make a lot of sense. Skeptics say Brazil and its currency are too volatile. That’s long been true, yet ABEV stock rallied from 50 cents per share in 2000 to $9 in 2011. That’s an 18x return despite Brazil’s up-and-down economy.
At the end of the day, Ambev sells beer in a market where beer is well-liked, and consumers have modest demands. As long as Ambev and Heineken deliver good products at a fair price point, they’ll get plenty of sales. Sure, they compete in the same way that Coca-Cola (NYSE:KO) and Pepsico (NYSE:PEP) have their brand war. However, both make gobs of money; the same goes for beer.
And since Ambev has a net cash position, it’s in fine shape to ride out the current economic mess. No doubt it will forego some profits this year with the economic downturn. But it won’t leave a permanent mark. In 2021 or 2022 when the economy turns around, Ambev will come soaring back.
From 2016 to 2018, as Brazil recovered from its last recession, Ambev stock surged 75%. Investors should enjoy similarly refreshing gains as bars and restaurants reopen in South America later this year.
Ian Bezek has written more than 1,000 articles for InvestorPlace.com and Seeking Alpha. He also worked as a Junior Analyst for Kerrisdale Capital, a $300 million New York City-based hedge fund. You can reach him on Twitter at @irbezek. At the time of this writing, he owned CCU, TAP, HEINY, and ABEV stock.
The post Grab Ambev Stock While The Market Is Still Hungover appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | InvestorPlace - Stock Market News, Stock Advice & Trading Tips Ambev (NYSE:ABEV) is one of the world’s largest brewing companies. That’s long been true, yet ABEV stock rallied from 50 cents per share in 2000 to $9 in 2011. At the time of this writing, he owned CCU, TAP, HEINY, and ABEV stock. | InvestorPlace - Stock Market News, Stock Advice & Trading Tips Ambev (NYSE:ABEV) is one of the world’s largest brewing companies. That’s long been true, yet ABEV stock rallied from 50 cents per share in 2000 to $9 in 2011. At the time of this writing, he owned CCU, TAP, HEINY, and ABEV stock. | InvestorPlace - Stock Market News, Stock Advice & Trading Tips Ambev (NYSE:ABEV) is one of the world’s largest brewing companies. That’s long been true, yet ABEV stock rallied from 50 cents per share in 2000 to $9 in 2011. At the time of this writing, he owned CCU, TAP, HEINY, and ABEV stock. | InvestorPlace - Stock Market News, Stock Advice & Trading Tips Ambev (NYSE:ABEV) is one of the world’s largest brewing companies. That’s long been true, yet ABEV stock rallied from 50 cents per share in 2000 to $9 in 2011. At the time of this writing, he owned CCU, TAP, HEINY, and ABEV stock. |
28271.0 | 2020-06-29 00:00:00 UTC | 3 Penny Stocks That Are Poised for Big Gains | ABEV | https://www.nasdaq.com/articles/3-penny-stocks-that-are-poised-for-big-gains-2020-06-29 | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Seasoned investors know that some of the greatest stocks of today started out small, as penny stocks under $5. For example, in July 2015, Advanced Micro Devices (NASDAQ:AMD) was below $2. Now it is well over $50. Proactive management and the right growth strategies have meant stellar returns for AMD shareholders.
Yet not all penny stocks go on to make higher highs in a matter of few years. Some trade sideways for a long time and some even go bust. Therefore, anyone considering investing in penny stocks would need to appreciate the risk/return profile that may be offered by such a company.
According to the U.S. Securities and Exchange Commission (SEC), a penny stock “generally refers to a security issued by a very small company that trades at less than $5 per share … [They] are generally considered speculative investments. Consequently, investors in penny stocks should be prepared for the possibility that they may lose their whole investment (or an amount in excess of their investment if they purchased penny stocks on margin).”
On a given day, millions of market participants trade penny stocks. Some win money and some lose money. What is clear is that penny stocks have an important place in the markets.
10 Recession-Proof Stocks to Weather the Storm
With that in mind, here are three penny stocks that may be poised for big gains:
Ambev (NYSE:ABEV)
Enel Chile SA (NYSE:ENIC)
Zovio (NASDAQ:ZVO)
Let’s look at what makes each of these stocks hold significant promise heading forward.
Penny Stocks to Buy: Ambev (ABEV)
ABEV)" width="300" height="169">
Source: rmcarvalhobsb / Shutterstock.com
Current Price: $2.68
52-week Price Range: $1.90-$5.45
Brazil-based Ambev is the largest beer manufacturer in Latin America. Its operations extend to 17 nations in the region as well as Canada. InvestorPlace readers would likely remember that Anheuser-Busch Inbev (NYSE:BUD) has a majority ownership in Ambev. The group’s beer brands include Skol, Brahma, Antarctica and Presidente, among others. Ambev also offers proprietary carbonated soft drinks as well as non-alcoholic and non-carbonated drinks.
The group is also among one of the largest independent bottlers of PepsiCo (NASDAQ:PEP). Its strong relationship with PepsiCo dates back to the late 1990s and the current agreement runs until 2028.
In early May, Ambev released Q1 2020 results. Net revenue saw a decline of 1.6% while volume decreased by 5.6%. It reported 2 cents earnings per share for the quarter, missing analysts’ estimate of 4 cents. They were adversely affected by the ongoing recession in Latin America as well as the challenges brought by the novel coronavirus pandemic.
CEO Jean Jereissati Neto issued the following assessment of the damage inflicted by Covid-19:
“Panama, Dominican Republic, and Bolivia were hit the hardest. Those countries had more severe restrictions on people circulation, adopting on and off trade opening hours in alcohol sales ban. Brazil suffered quite a bit, given the relevance of the on-trade channel, which was significantly impacted by state and local government measures to contain the spread of the virus. Argentina, Paraguay and Chile suffered less because our volumes are heavily weighted toward the off-trade channel. Canada volumes benefited in the short term, given the pantry loading. It has been challenging to manage through COVID.”
As a result, ABEV shares have been suffering. In March 2018, they were over $7. By January 2020, the stock was down to $4. And in March, it hit an all-time low of $1.90. To the delight of shareholders, it has recently staged a solid comeback as ABEV stock now trades around $2.68.
If you also feel that you may be able to raise a glass to Ambev in future quarters, then ABEV stock should be on your radar for penny stocks that are poised for big gains in the future. However, it is important to remember that ABEV stock will generally mirror the moves in Brazil’s Bovespa stock market index. Therefore, expect volatility in the shares.
Enel Chile (ENIC)
ENIC)" width="300" height="169">
Source: Shutterstock
Current Price: $3.91
52-week Price Range: $2.95-$5.11
Chile-headquartered Enel Chile is an important energy company. It is part of Grupo Enel, a multinational energy company and one of the world’s leading integrated electricity and gas operators. It also owns and operates renewable energy projects.
As the 2019 Annual Report highlights “2019 was a particularly challenging year, not just for Chile, but also for our Company. As a country, we lived through a period of protests and social movements in which thousands of fellow citizens raised their voices to demand profound changes in the way we organize our society.”
Then came the difficulties of the Covid-19 pandemic of 2020. In early May, Enel Chile released Q1 financial results. Since March, the group’s emphasis has been on business continuity and stability supported by digitalization.
As a result of these difficult months over the past two years, ENIC stock has suffered. In 2016, the shares were well over $6.5. They started January 2019 shy of $5.5 and ended the year around $4.75. But by March 18, 2020, ENIC stock hit an all-time low of $2.95. Now it is just under $4.
At the end of 2019, the company had 7,303 megawatts of installed capacity with 129 generation units, including 40 hydroelectric, 21 thermal, 59 wind powered, 8 solar and 1 geothermal generation units, as well as distributed electricity to approximately 1.97 million customers.
In June 2019, Moody’s Corporation (NYSE:MCO) confirmed the international rating of Enel Chile S.A. when it received a “Baa2” rating with a stable outlook. According to Moody’s, obligations rated Baa are subject to moderate credit risk. They are considered medium-grade and may possess speculative characteristics.
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Put another way, ENIC stock offers investors the opportunity to participate in the growth of an important Latin American country. But it comes with risks, too. After further due diligence, you may find that Enel Chile belongs in a group of penny stocks that may be poised for big gains in the future.
Zovio (ZVO)
ZVO)" width="300" height="169">
Source: Shutterstock
Current Price: $2.93
52-week Price Range: $1.08-$4.25
Arizona-based Zovio is an education technology services company. It partners with higher education institutions and employers to deliver educational solutions to their students and employees. The company has around 1,500 employees in several states.
The group currently owns Ashford University. However, it will likely separate into two organizations, with Ashford becoming a self-governed, nonprofit higher-education institution with its own Board of Trustees. In addition, Zovio offers Constellation, its learning platform, Waypoint Outcomes, its assessment software and its mobile application technology.
In late April, Zovio released Q1 results for the three months ended March 31. Revenue came at $97.9 million, compared with revenue of $109.8 million in Q1 2019. Its non-GAAP diluted income quarterly loss was 10 per share. A year ago, the loss had been 12 cents per share.
However, the year-over-year student numbers were not quite in the direction that shareholders would have liked: “Total student enrollment … was 35,335 students at March 31, 2020, compared with total student enrollment of 39,095 at March 31, 2019.”
ZVO stock got listed in Nasdaq in April 2019. Before, it was trading as Bridgepoint Education on the NYSE. At the time, ZVO stock was shy of $7. By late March 2020, it hit an all-time low of $1.08. Now, it is hovering at $2.9. That is a return of over 160% in three months.
The pandemic has changed the way we live, work and seek education. In the coming months and years, we are likely to see an increased move toward online education at all levels, including continuing corporate education for employees. As the group builds out solutions for growing education services markets stateside, I believe ZVO stock may reach new highs. The company may also be acquired, which would be welcome news for shareholders. Thus, Zovio is one of the penny stocks that may be poised for big gains in the future.
Tezcan Gecgil has worked in investment management for over two decades in the U.S. and U.K. In addition to formal higher education, including a Ph.D. degree, in the field, she has also completed all 3 levels of the Chartered Market Technician (CMT) examination. Her passion is for options trading based on technical analysis of fundamentally strong companies. She especially enjoys setting up weekly covered calls for income generation. As of this writing, Tezcan Gecgil did not hold a position in any of the aforementioned securities.
The post 3 Penny Stocks That Are Poised for Big Gains appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | 10 Recession-Proof Stocks to Weather the Storm With that in mind, here are three penny stocks that may be poised for big gains: Ambev (NYSE:ABEV) Enel Chile SA (NYSE:ENIC) Zovio (NASDAQ:ZVO) Let’s look at what makes each of these stocks hold significant promise heading forward. Penny Stocks to Buy: Ambev (ABEV) ABEV)" width="300" height="169"> Source: rmcarvalhobsb / Shutterstock.com Current Price: $2.68 52-week Price Range: $1.90-$5.45 Brazil-based Ambev is the largest beer manufacturer in Latin America. It has been challenging to manage through COVID.” As a result, ABEV shares have been suffering. | 10 Recession-Proof Stocks to Weather the Storm With that in mind, here are three penny stocks that may be poised for big gains: Ambev (NYSE:ABEV) Enel Chile SA (NYSE:ENIC) Zovio (NASDAQ:ZVO) Let’s look at what makes each of these stocks hold significant promise heading forward. Penny Stocks to Buy: Ambev (ABEV) ABEV)" width="300" height="169"> Source: rmcarvalhobsb / Shutterstock.com Current Price: $2.68 52-week Price Range: $1.90-$5.45 Brazil-based Ambev is the largest beer manufacturer in Latin America. It has been challenging to manage through COVID.” As a result, ABEV shares have been suffering. | 10 Recession-Proof Stocks to Weather the Storm With that in mind, here are three penny stocks that may be poised for big gains: Ambev (NYSE:ABEV) Enel Chile SA (NYSE:ENIC) Zovio (NASDAQ:ZVO) Let’s look at what makes each of these stocks hold significant promise heading forward. Penny Stocks to Buy: Ambev (ABEV) ABEV)" width="300" height="169"> Source: rmcarvalhobsb / Shutterstock.com Current Price: $2.68 52-week Price Range: $1.90-$5.45 Brazil-based Ambev is the largest beer manufacturer in Latin America. It has been challenging to manage through COVID.” As a result, ABEV shares have been suffering. | It has been challenging to manage through COVID.” As a result, ABEV shares have been suffering. 10 Recession-Proof Stocks to Weather the Storm With that in mind, here are three penny stocks that may be poised for big gains: Ambev (NYSE:ABEV) Enel Chile SA (NYSE:ENIC) Zovio (NASDAQ:ZVO) Let’s look at what makes each of these stocks hold significant promise heading forward. Penny Stocks to Buy: Ambev (ABEV) ABEV)" width="300" height="169"> Source: rmcarvalhobsb / Shutterstock.com Current Price: $2.68 52-week Price Range: $1.90-$5.45 Brazil-based Ambev is the largest beer manufacturer in Latin America. |
28272.0 | 2020-05-20 00:00:00 UTC | 7 Excellent Penny Stocks Ready to Roar | ABEV | https://www.nasdaq.com/articles/7-excellent-penny-stocks-ready-to-roar-2020-05-20 | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Stocks have rebounded sharply since the March market crash. As a result, traders are looking for hot opportunities again. Tech stocks, growth companies, and speculative firms are all surging. Amid that backdrop, there may well be an uptick in interest in penny stocks soon as well. When the market is enjoying a strong upswing, oftentimes penny stocks enjoy an outsized benefit.
What makes for a good penny stock selection at this point? There are several features to look for. A company that has fallen too far on coronavirus concerns is one good category. Or look for companies that could benefit from the aftereffects of this economic shock; natural resource stocks could benefit, for example, if all the Federal Reserve stimulus ends up leading to inflation.
Here are seven penny stocks to have on your radar now:
7 Financial Stocks with Dependable Dividends
Ambev (NYSE:ABEV)
Solitario Zinc (NYSEAMERICAN:XPL)
Retailwinds (NYSE:RTW)
Genesis Healthcare (NYSE:GEN)
San Juan Basin Royalty Trust (NYSE:SJT)
Corporacion America Airports (NYSE:CAAP)
Castlight Health (NYSE:CSLT)
Ambev (ABEV)
Source: Anton Garin / Shutterstock.com
The first on this list of promising penny stocks is Ambev. On a pure market capitalization basis, Brazilian brewing leader Ambev is not a typical penny stock. Even after the crash this year, Ambev is still worth tens of billions of dollars. But at $2 per share, ABEV stock certainly falls in the lower-priced shares category. And like other low-priced shares, there could be big upside; Ambev sold for $4 earlier this year, and $7 in 2018. Those would be large gains from the current two buck level.
Ambev, for those unfamiliar, is the South American arm of the Anheuser-Busch Inbev (NYSE:BUD) beer conglomerate. South America is in a steep recession right now. Economies such as Brazil and Chile, where Ambev operates, are seeing their economies tank as commodity prices plunge and export orders have dried up. With China in particular just starting to recover, the emerging markets that rely on China are in a downdraft.
Ambev is well-positioned to ride out the bust, however. It has a net cash position and the beer market has remained stable. For now, the company may bring in less revenue due to selling beer in weak currencies such as the Argentine Peso. However, as the virus starts to pass and economic activity picks up, solid companies like Ambev will start to catch traders’ attention again.
Solitario Zinc (XPL)
Source: Shutterstock
Solitario Zinc is a small minerals exploration company. It focuses on zinc in particular, along with other base metals. The thing that makes Solitario fascinating is its business model. It uses something of a prospect generator approach. It takes a stake in a variety of mineral prospects and then looks to help develop and farm them out.
Over the past five years, it has sold royalty streams off of properties and also sold assets directly. In this way, it leaves the development risk on these zinc and other mineral properties to third parties while capturing upside optionality.
Solitario is currently well-funded. As of last quarter, it had $8 million of cash and short-term investments. Against that, it has been burning less than $1 million per year in operating costs. This gives Solitario years to explore, develop, and find buyers or joint venture partners for its projects.
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And the market may heat up for these sorts of asset plays. With the Federal Reserve pumping unprecedented levels of liquidity into the system and the federal government engaging in record deficit spending, there’s plenty of money sloshing around. At some point, this sort of inflow leads to higher commodity prices. The great gold and base minerals boom of 2002-08 followed massive Fed action to support the economy between 1998 and 2001, after all. History could repeat.
Retailwinds (RTW)
Source: Shutterstock
Retailwinds is a high risk, high reward play in the apparel sector. For obvious reasons, these stocks have been absolutely smashed thanks to the coronavirus. Retailwinds, as the owner of New York & Co and other clothing stores, has not escaped the problems. The plight facing retail in general and clothing stores in particular, is not new. Retailwinds is hardly the only company trading for pennies now.
So why focus on RTW stock in particular? Just look at the balance sheet. As of last quarter, the company had $61 million in cash-on-hand, no borrowings against its short-term lending facility, and no long-term debt. Thus, Retailwinds is selling for a market capitalization of just $25 million at a 40 cent share price but has twice that in cash. This gives the company a lot of breathing room.
There’s plenty that could go wrong, particularly with the coronavirus shutting down stores for the time being. But with that large cash cushion, speculators are getting an interesting set-up here. A 40 cent stock could easily run-up substantially if management shows any signs of being able to put a strong holiday 2020 season together. As recently as this past December, shares traded for $1.25. With a tiny company like this with a decent cash position, there’s a chance for a big upside surprise.
Genesis Healthcare (GEN)
Source: Shutterstock
Healthcare penny stocks? Yup. The coronavirus has had a surprisingly negative impact on the health care sector. You might intuitively think that a pandemic would cause more money and resources to flow into the health care system. And while that may be true, it hasn’t been distributed equally. In fact, many medical companies have taken a big hit.
Genesis Healthcare, for example, operates nursing homes, assisted living facilities, and other such medical centers for older people. Investors have shunned these sorts of health care stocks because of the Covid-19 liability risk. In theory, the companies that own and operate such facilities could be on the hook if they didn’t have sufficient safeguards in place to prevent the spread of the virus. As is the case when lawyers get involved, it’s hard to forecast where things will ultimately end up on this front.
That said, Genesis Healthcare stock is now priced for a dire ending. And that’s an abrupt reversal of fortune. From last fall through to this February, Genesis had shot up from $1 to $1.75 as it steadily gained strength. Now, though, it has dumped to just 62 cents. Unlike many Covid-affected stocks, Genesis is still trading near its recent lows.
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As of last quarter, Genesis had more than $800 million of current assets, implying that it can withstand short-term liquidity concerns. Any signs of regulatory assistance or a government aid package for assisting living centers, and Genesis Healthcare could enjoy a strong recovery.
San Juan Basin Royalty Trust (SJT)
Source: Shutterstock
San Juan Basin Royalty Trust holds the rights to a portion of the revenue off certain oil and natural gas production fields in the state of New Mexico. Since 2017, the stock has gotten slammed as natural gas slumped. Making matters worse, the boom in Permian production growth in nearby West Texas saturated the local market. Shale producers flooded the area with excess natural gas, driving prices sharply lower. As a result, San Juan’s monthly dividend went from five cents or so per share down to a minuscule amount.
However, things are now set to improve. The collapse in oil prices is causing shale producers to sharply curtail production going forward. That, in turn, will cause natural gas production to start dropping off quickly by 2021.
San Juan is set to benefit when it does. Since it is a royalty trust, it has no employees, operational risks, debt, or other concerns that weigh down a normal company. It gets a piece of the pie from the production on its oil and gas fields, and that’s that. As prices rally, it will earn more royalties and thus pay a larger dividend. Unlike most oil and gas companies, San Juan doesn’t have bankruptcy risk, so it’s a much safer way to play the eventual recovery in natural gas prices.
Corporacion America Airports (CAAP)
Source: Shutterstock
Corporacion America Airports is an Argentina-based airport operator. It holds concessions for most of Argentina’s airports, including both Buenos Aires facilities. It also holds properties in Italy, Brazil, Ecuador, and other assorted countries. In total, it operates 52 airports. The company’s stock made its U.S. debut in 2018 at $16/share.
Unfortunately, it was soon hit by bad timing, as Argentina’s currency plunged and then a socialist government took control of the country last year. Just about everything that could go wrong has. Brazil’s economy has turned sharply lower. Italy and Ecuador — where CAAP has key concessions — are both among the hardest-hit countries from Covid-19. And, of course, air traffic has virtually disappeared for the time being.
That has all the makings of a massive turnaround stock, however. Shares are now down from $16 to $2. The company generated nearly $500 million per year in EBITDA in good times, and now has a market cap of less than $400 million. Throw in debt and it is selling for just 4x Enterprise Value to EBITDA — the standard valuation metric for airports.
Getting back to an 8x ratio — where the comparable Mexican airport operators trade now — would get CAAP stock into the double digits. And if the Argentine economy ever gets back on track, it could reclaim the initial public offering price from 2018.
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Among penny stocks, there’s plenty of risk here. The company has debt and very little revenue is coming in right now. But if they can make it through the downturn with the share structure intact, this could be a multi-bagger on the way back up.
Castlight Health (CSLT)
Source: Shutterstock
The last stock on this list of penny stocks is Castlight. Health care software company Castlight Health has had a rough go of it in recent years. The company has lost a number of core customers, such as Walmart (NYSE:WMT), leading to substantial investor uncertainty. The CEO left and investors gave up on the stock, sending it below a buck per share.
The company has new management now and is focused on the turnaround. This most recent quarter, the company lost just one penny per share, beating expectations. On top of that, revenues surged 10% year-over-year, beating estimates. Keep that momentum up for a few quarters, and the stock should rally.
As with many penny stocks, there’s a lot of risk here. If Castlight Health keeps going down the same path that it was on up until 2019 under the old CEO, shareholders could be in for a bumpy ride. But there’s the ingredients of a decent investment here. Wall Street loves software and recurring revenues. With any signs of profitability or positive free cash flow, you’d expect the stock to sell for at least 2-3x revenues, which would result in a share price north of $2.50 compared to the current share price of 70 cents.
There’s also the possibility of someone acquiring the firm. A private equity firm, for example, could be an interested suitor for this sort of company. Now, you should be careful with making an investment thesis simply on takeover hopes. But in this case, the stock is clearly priced for a pessimistic future, so any sort of improvement with the new management team could brighten the picture here quickly.
Ian Bezek has written more than 1,000 articles for InvestorPlace.com and Seeking Alpha. He also worked as a Junior Analyst for Kerrisdale Capital, a $300 million New York City-based hedge fund. You can reach him on Twitter at @irbezek. At the time of this writing, he owned ABEV, CAAP, and SJT stock.
The post 7 Excellent Penny Stocks Ready to Roar appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Here are seven penny stocks to have on your radar now: 7 Financial Stocks with Dependable Dividends Ambev (NYSE:ABEV) Solitario Zinc (NYSEAMERICAN:XPL) Retailwinds (NYSE:RTW) Genesis Healthcare (NYSE:GEN) San Juan Basin Royalty Trust (NYSE:SJT) Corporacion America Airports (NYSE:CAAP) Castlight Health (NYSE:CSLT) Ambev (ABEV) Source: Anton Garin / Shutterstock.com The first on this list of promising penny stocks is Ambev. But at $2 per share, ABEV stock certainly falls in the lower-priced shares category. At the time of this writing, he owned ABEV, CAAP, and SJT stock. | Here are seven penny stocks to have on your radar now: 7 Financial Stocks with Dependable Dividends Ambev (NYSE:ABEV) Solitario Zinc (NYSEAMERICAN:XPL) Retailwinds (NYSE:RTW) Genesis Healthcare (NYSE:GEN) San Juan Basin Royalty Trust (NYSE:SJT) Corporacion America Airports (NYSE:CAAP) Castlight Health (NYSE:CSLT) Ambev (ABEV) Source: Anton Garin / Shutterstock.com The first on this list of promising penny stocks is Ambev. But at $2 per share, ABEV stock certainly falls in the lower-priced shares category. At the time of this writing, he owned ABEV, CAAP, and SJT stock. | Here are seven penny stocks to have on your radar now: 7 Financial Stocks with Dependable Dividends Ambev (NYSE:ABEV) Solitario Zinc (NYSEAMERICAN:XPL) Retailwinds (NYSE:RTW) Genesis Healthcare (NYSE:GEN) San Juan Basin Royalty Trust (NYSE:SJT) Corporacion America Airports (NYSE:CAAP) Castlight Health (NYSE:CSLT) Ambev (ABEV) Source: Anton Garin / Shutterstock.com The first on this list of promising penny stocks is Ambev. But at $2 per share, ABEV stock certainly falls in the lower-priced shares category. At the time of this writing, he owned ABEV, CAAP, and SJT stock. | Here are seven penny stocks to have on your radar now: 7 Financial Stocks with Dependable Dividends Ambev (NYSE:ABEV) Solitario Zinc (NYSEAMERICAN:XPL) Retailwinds (NYSE:RTW) Genesis Healthcare (NYSE:GEN) San Juan Basin Royalty Trust (NYSE:SJT) Corporacion America Airports (NYSE:CAAP) Castlight Health (NYSE:CSLT) Ambev (ABEV) Source: Anton Garin / Shutterstock.com The first on this list of promising penny stocks is Ambev. But at $2 per share, ABEV stock certainly falls in the lower-priced shares category. At the time of this writing, he owned ABEV, CAAP, and SJT stock. |
28273.0 | 2020-03-06 00:00:00 UTC | Ambev Stock Looks Oversold Despite Its Challenges | ABEV | https://www.nasdaq.com/articles/ambev-stock-looks-oversold-despite-its-challenges-2020-03-06 | nan | nan | Ambev (NYSE:), the Brazilian brewing company that focuses on Latin America, has seen its stock decline to multi-year lows. In the last five years, the high of Ambev stock was $7.10.ÃÂ The shares are currently about 55% below that level, as they are changing hands for $3.28.
Source: rmcarvalhobsb / Shutterstock.com
While Ambev is facing multiple difficulties, I believe that the valuation of the stock is attractive,ÃÂ making it a buy. All of the challenges the company is facing, includingÃÂ the weak macroeconomic outlook, the contraction of its EBITDA margin and corruption charges, appear to already be reflected in the shares.
My view is backed by most analysts. . Ambev stock currently trades below the lowest target, indicating that itâÂÂs oversold.
AmbevâÂÂs Major Problems
The first factor that has kept Ambev stock depressed for years is the macroeconomic difficulties of Latin America. According to International Monetary Fund data, on average between 2014àand 2019. Weak GDP growth has contributed to the companyâÂÂs sluggish top-lineàgrowth and the contraction of its margins.
While BrazilâÂÂs GDP growth is likely to accelerate to 2.2% in 2020 from 1.2% in 2019, the coronavirus factor still needs to be considered.
Another factor that has depressed the stock in the recent past is the . While Ambev called the charges âÂÂfalse and incoherent,â the stock reacted negatively to the news. The country is still investing Ambev.
Finally, the company issued weak Q1 guidance. For Q1, the company expects upward pressure on its manufacturing costsàand âÂÂfront-loaded sales and marketing investments.â That will cause its EBITDA to fall sharply. While the company expects its performance to improve in the coming quarters, itâÂÂs likely to continue to have cost pressures through FY20.
The Positive Aspects of AmbevâÂÂs Business
The concerns described above dominate the headlines regarding Ambev and have dictated the performance of Ambev stock. However, the company does have positive catalysts which can spark a rally of Ambev stock from its current oversold levels.
The first positive is the companyâÂÂs growth in the Brazilian non-alcoholic beverage market. For Q4, it reported 13% year-over-year growth in the segment, while the EBITDA margin of the business increased 11.6 percentage points.
I am bullish on the companyâÂÂs non-alcoholic beverage segment because itâÂÂs focused on launching premium products in Brazil, which should help it increase its EBITDA margin and could also cause its revenue growth to accelerate.
Ambev expects its Brazilian beer business to enable its EBITDA to resume increasing this year. In FY19, the segmentâÂÂs EBITDA fell 6.5% YOY. If its EBITDA does rebound after Q1, the stock is likely to respond positively.
AmbevâÂÂs business in Canada has been disappointing, as the unitâÂÂs revenue and EBITDA dropped 1.9% and 10.7% respectively in FY19. The company is, however, trying to innovate in Canada with a pipeline of ready-to-drink products. If those innovationsàresult in a top-line turnaround, I expect Ambev stock to react positively.
Ambev is well-positioned from a financial perspective ,with total debt of just 3.1 billion Brazilian real. With cash and equivalents of 11.9 billion Brazilian real, it has ample financial flexibility and no balance sheet stress. Even in challenging times, the company has maintained healthy operating cash flows and positive free cash flow.
My Concluding Views on Ambev Stock
Ambev is facing multiple challenges, including weak macroeconomic conditions, competition,ÃÂ the stagnating growth of the beer market and corruption charges. However, Ambev stock is trading at multi-year lows, and these factors are largely reflected in the stock.
Any improvement of the companyâÂÂs EBITDA margin or sustained growth by its non-alcoholic beverage segment should take Ambev stock higher.
Faisal Humayun is senior research analyst with 12 years of industry experience in the field of credit research, equity research and financial modeling. Faisal has authored over 1,500 stock-specific articles with a focus on the technology, energy and commodities sector. As of this writing, he did not hold a position in any of the aforementioned securities.
The post appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Ambev (NYSE:), the Brazilian brewing company that focuses on Latin America, has seen its stock decline to multi-year lows. All of the challenges the company is facing, includingàthe weak macroeconomic outlook, the contraction of its EBITDA margin and corruption charges, appear to already be reflected in the shares. I am bullish on the companyâÂÂs non-alcoholic beverage segment because itâÂÂs focused on launching premium products in Brazil, which should help it increase its EBITDA margin and could also cause its revenue growth to accelerate. | All of the challenges the company is facing, includingàthe weak macroeconomic outlook, the contraction of its EBITDA margin and corruption charges, appear to already be reflected in the shares. AmbevâÂÂs Major Problems The first factor that has kept Ambev stock depressed for years is the macroeconomic difficulties of Latin America. My Concluding Views on Ambev Stock Ambev is facing multiple challenges, including weak macroeconomic conditions, competition,àthe stagnating growth of the beer market and corruption charges. | The Positive Aspects of AmbevâÂÂs Business The concerns described above dominate the headlines regarding Ambev and have dictated the performance of Ambev stock. My Concluding Views on Ambev Stock Ambev is facing multiple challenges, including weak macroeconomic conditions, competition,àthe stagnating growth of the beer market and corruption charges. Any improvement of the companyâÂÂs EBITDA margin or sustained growth by its non-alcoholic beverage segment should take Ambev stock higher. | Weak GDP growth has contributed to the companyâÂÂs sluggish top-lineàgrowth and the contraction of its margins. Ambev expects its Brazilian beer business to enable its EBITDA to resume increasing this year. My Concluding Views on Ambev Stock Ambev is facing multiple challenges, including weak macroeconomic conditions, competition,àthe stagnating growth of the beer market and corruption charges. |
28274.0 | 2020-03-05 00:00:00 UTC | Thursday's ETF with Unusual Volume: KXI | ABEV | https://www.nasdaq.com/articles/thursdays-etf-with-unusual-volume%3A-kxi-2020-03-05 | nan | nan | The iShares Global Consumer Staples ETF is seeing unusually high volume in afternoon trading Thursday, with over 611,000 shares traded versus three month average volume of about 50,000. Shares of KXI were down about 0.6% on the day.
Components of that ETF with the highest volume on Thursday were Ambev, trading off about 1.9% with over 12.3 million shares changing hands so far this session, and Kroger, up about 6.1% on volume of over 9.2 million shares. Tyson Foods is lagging other components of the iShares Global Consumer Staples ETF Thursday, trading lower by about 4.5%.
VIDEO: Thursday's ETF with Unusual Volume: KXI
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The iShares Global Consumer Staples ETF is seeing unusually high volume in afternoon trading Thursday, with over 611,000 shares traded versus three month average volume of about 50,000. Components of that ETF with the highest volume on Thursday were Ambev, trading off about 1.9% with over 12.3 million shares changing hands so far this session, and Kroger, up about 6.1% on volume of over 9.2 million shares. Tyson Foods is lagging other components of the iShares Global Consumer Staples ETF Thursday, trading lower by about 4.5%. | The iShares Global Consumer Staples ETF is seeing unusually high volume in afternoon trading Thursday, with over 611,000 shares traded versus three month average volume of about 50,000. Tyson Foods is lagging other components of the iShares Global Consumer Staples ETF Thursday, trading lower by about 4.5%. VIDEO: Thursday's ETF with Unusual Volume: KXI The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The iShares Global Consumer Staples ETF is seeing unusually high volume in afternoon trading Thursday, with over 611,000 shares traded versus three month average volume of about 50,000. Components of that ETF with the highest volume on Thursday were Ambev, trading off about 1.9% with over 12.3 million shares changing hands so far this session, and Kroger, up about 6.1% on volume of over 9.2 million shares. VIDEO: Thursday's ETF with Unusual Volume: KXI The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The iShares Global Consumer Staples ETF is seeing unusually high volume in afternoon trading Thursday, with over 611,000 shares traded versus three month average volume of about 50,000. Shares of KXI were down about 0.6% on the day. Components of that ETF with the highest volume on Thursday were Ambev, trading off about 1.9% with over 12.3 million shares changing hands so far this session, and Kroger, up about 6.1% on volume of over 9.2 million shares. |
28275.0 | 2020-02-27 00:00:00 UTC | Ambev S.A (ABEV) Q4 2019 Earnings Call Transcript | ABEV | https://www.nasdaq.com/articles/ambev-s.a-abev-q4-2019-earnings-call-transcript-2020-02-28 | nan | nan | Image source: The Motley Fool.
Ambev S.A (NYSE: ABEV)
Q4 2019 Earnings Call
Feb 27, 2020, 11:00 a.m. ET
Contents:
Prepared Remarks
Questions and Answers
Call Participants
Prepared Remarks:
Operator
Good morning and thank you for waiting. We would like to welcome everyone to Ambev's Fourth Quarter 2019 Results Conference Call. Today with us we have Mr. Jean Neto CEO for Ambev; and Mr. Fernando Tennenbaum CFO and Investor Relations Officer. As a reminder a slide presentation is available for downloading on our website ri.ambev.com.ir as well as through the webcast link of this call. [Operator Instructions]
Before proceeding let me mention that forward-looking statements are being made under the safe harbor of the Securities Litigation Reform Act of 1996. Forward-looking statements are based on the beliefs and assumptions of Ambev's management and on information currently available to the company. They involve risks uncertainties and assumptions because they relate to future events and therefore depend on circumstances that may or may not occur in the future. Investors should understand that general economic conditions industry conditions and other operating factors could also affect the future results of Ambev and could cause results to differ materially from those expressed in such forward-looking statements.
I would like to remind everyone that as usual the percentage changes that will be discussed during today's call are both organic and normalized in nature and unless otherwise stated percentage changes refer to comparisons with 4Q 2019 results. Normalized figures refer to performance measures before exceptional items which are either income or expenses that do not occur regularly as part of Ambev's normal activities. As normalized figures are non-GAAP measures the company discloses the consolidated profit EBS EBIT and EBITDA on a fully reported basis in the earnings release.
Now I'll turn the conference over to Mr. Fernando Tennenbaum CFO and Investor Relations Officer. Mr. Tennenbaum you may begin your conference.
Fernando Tennenbaum -- Chief Financial, Investor Relations and Shared Services Officer
Thank you. Hello everyone. Thank you for joining our 2019 Fourth Quarter and Full year Earnings Call. I will guide you through the financial highlights including below the line items and cash flow. After that Jean will give more details about our operations in Brazil CAC Las and Canada. Beginning with the main highlights. On a consolidated basis in the fourth quarter top line grew 5.7% a combination of volume increasing 3.4% and net revenue per hectoliter up 2.2%. In the full year net revenue was up 7.9% with volume growing 2.7% and net revenue per hectoliter growth of 5%. EBITDA reached BRL6.9 billion in the quarter an organic decline of 2.7%. And the EBITDA margin decreased 370 basis points to 43.7%. In the full year EBITDA was up 1.5% with margin contraction of 260 basis points to 40.2%. Our bottom line performance was impacted mostly by a higher cost of sales resulting from significant commodity and transaction currency headwinds. Normalized net profit for the quarter was up 24.4% delivering BRL4.6 billion. In the full year normalized net profit was BRL12.5 billion 8.5% higher than 2018. Our cash flow from operating activities was BRL18.4 billion in line with 2018. capex in 2019 was 42% higher than in 2018 with most of the increment driven toward innovation. Similar to last quarters we continue to report the results of our operations in Argentina applying hyperinflation accounting.
I will now move to our divisional results and start with Brazil. In the quarter Brazil EBITDA reached BRL four billion a decline of 6.6% versus Q4 2018 while margins contracted 450 basis points to 45%. In the full year Brazil EBITDA was BRL11.7 billion with a decline of 4.5% versus 2019 while margins contracted 500 basis points to 40.9%. In the full year cash COGS per hectoliter increased 18.4%. We missed our guidance of mid-teens mainly due to package mix. In the quarter Beer Brazil top line grew 1.2%. We see a volume increase of 1.4% while net revenue per hectoliter declined at 0.2%. EBITDA for Beer Brazil was down 12.5% in the quarter with measured contraction of 710 basis points to 44.9%. cash COGS per hectoliter grew by 17.5% impacted by commodities and FX. In the full year top line in Beer Brazil increased by 5.6%. Volumes were up 3.2% while reported industry growth of 2.4%. EBITDA was down 6.5% with margin contraction of 530 basis points to 41.6%. Such a margin contraction was mostly linked to FX and commodity cost pressures. In NAB Brazil top line was up by 13% in the fourth quarter the result of a 16% volume growth and a net revenue per hectoliter decline of 2.5% driven by a different pricing calendar than in 2018 and affordability initiatives. EBIT in the quarter increased 51.8% with margin expansion of 1160 basis points to 45.3%. In the full year top line in NAB Brazil increased by 16.1%. Volume grew 11.3% and EBIT was up 9.5% with margin contraction of 230 basis points to 37%. Moving now to Central America and the Caribbean. We continue to be very excited about Central American Caribbean.
In the fourth quarter net revenue grew 9.8% a combination of a 4.3% increase in volume and a 5.3% net revenue per hectoliter growth. EBIT in the quarter reached BRL285 million posting a double-digit growth of 19.1% once again driven by a strong performance in the Dominican Republic and margin expansion of 350 basis points to 45.3%. In the full year top line in CAC increased by 10% and EBITDA was up 22% to BRL three billion with margin expansion of 440 basis points to 43.8%. The other operating income increased in the year is mainly explained by the $18.5 million insurance compensation we received for the damage caused by the Q3 2017 hurricane season in the region. Without such compensation EBITDA growth would have been 19% in the year. Switching now to Latin America South. Top line grew 13.8% in the quarter with a net revenue per hectoliter growth of 13.7% while the volume was flattish increasing 0.1%. In Argentina we saw the second half of the year with better trends than the first half. Meanwhile social rest in Chile and especially in Bolivia both affected performance in 4Q 19. EBITDA loss for the quarter was up 2.2% with margin contraction of 540 basis points to 46.9%. cash COGS per hectoliter in the quarter increased 18.7% mostly driven by FX and inflation. In the full year top line in LAS increased by 15.1% and EBITDA was up 12.3% with margin contraction of 110 basis points to 43.8%. Turning now to Canada. In the fourth quarter top line in Canada declined a 0.5% a combination of a 1% net revenue per hectoliter increase and a 1.5% volume decline which was mostly driven by a soft beer industry. EBITDA reached BRL517 million 16.4% lower than in the fourth quarter of 2018 with margin contraction of 560 basis points to 29.3%.
Cash COGS per hectoliter increased 17.8% negatively impacted by increased commodity prices higher mix of imported beers and lower dilution of fixed costs. In the full year top line in Canada decreased by 1.9% and EBITDA was down 10.7% with margin contraction of 290 basis points to 29%. As one of the many efforts to increase the volume in our ready to drink category we announced the acquisition of Good Region Winners Distillery the producer of Neutral one of the fastest-growing RGB brands. Now back to consolidated figures below EBITDA. In the fourth quarter net financial results totaled an expense of BRL1.6 billion 6% lower than in 4Q 2018. The main items in the financial expense in the quarter were: first interest income of BRL151 million driven by our cash balance; second interest expense of BRL346 million that also include interest in current in connection with the Brazilian tax realization program as well as a noncash accrual of approximately severe late to the put option associated to our investment in the Dominican Republic business; third BRL576 million of losses on derivative instruments which were up year-over-year explained by the increase of FX hedges carry costs linked to our cost of goods sold and capex exposure in Argentina; fourth losses on nonderivative instruments in the amount of BRL537 million mainly explained by an adjustment in the fair value of the put option in the Dominican Republic and by a noncash intercompany FX variation mostly linked to the Argentinian peso depreciation; fifth taxes on financial transactions in the amount of BRL72 million; sixth BRL183 million of other financial expenses partially explained by accruals on legal contangos and pension plan expenses; seventh BRL93 million of the exceptional financial expenses mostly explained by a state payment; finally eight. BRL92 million of financial income related to noncash income resulting from the adoption of the hyperinflation accounts in Argentina.
In the full year the effective tax rate was 5.8% versus 13.5% in 2018. Cash generated from operating activities in Q4 2019 was of BRL9.6 billion which is 9.6% higher than last year. In the full year cash generated from operating activities is stable reaching BRL18.4 billion. capex reached BRL two billion in the quarter and BRL5.1 billion in the full year increasing 42% versus 2018. Before I pass on to Jean I'd like to welcome Lukas as incoming CFO as of April 29. I have been working closely with him for the last 15 years and I couldn't think of anyone better prepared than him for the challenges ahead.
Thank you very much. Jean will share some of the initiatives and thoughts on Ambev's operations before going to Q&A.
Jean Jereissati Neto -- Chief Executive Officer, Chief Sales and Marketing Officer
Thank you Fernando. Hello everybody. Good morning good afternoon. First of all I would like to thank Bernardo paiva for his almost 30 years of service to Ambev. We wish him the best of luck and success going forward. Since this is my first call I would like to focus on two things quickly review 2019 what worked what didn't and share my perspective on 2020 and beyond. Facing the brutal facts 2019 was not an easy year. Fx and commodities headwinds pretty much across the board significantly impacted our profitability. We had a tough operating environment in important countries like Argentina's macro environment and Bolivia's social unrest. The second half of the year was not good particularly in Brazil beer due to competitive dynamics and we continued to see industry headwinds in Canada. On the other hand 2019 was also a year where we delivered some important results and continued to invest behind our future growth. In Brazil beer volumes were back to growth and our top line was more balanced. Our high-end portfolio delivered very solid performance growing double digits. Our innovation pipeline continues to connect with consumers and increase its relevancy in our results. And NAB had an overall excellent performance. Meanwhile CAC continued to deliver consistent strong results not only in Dominican Republic but also in Guatemala and Panama. In Canada we continued to place important bets in our innovation pipeline and beyond beer portfolio. And last but not least we pushed ahead on our transformation journey of becoming more consumer centric more customer-centric and digitally transforming our business. If we take a closer look at Brazil beer volumes grew 3.2% and net revenue per hectoliter increased 2.4%.
Meanwhile industry estimated by Nielsen to have grown 2.4%. Speaking of our brands the Skol family was back to growth in the fourth quarter ending the year was stabilized with the launch of Skol Puro Malte. Brahma brand power improved and the brand remains innovative such as the recent launch of Brahma Duplo Malte. Each of Budweiser Stella and Corona grew double digits as was the case with some of our key domestic premium and craft brands such as Original and Colorado. So it's still early days the debut of in the Brazilian market has had a great momentum. Our smart affordability brands such as continues to connect with more regional conditional consumers. Turning to Brazil Nab we had an outstanding year with 11.3% volume growth 16.1% net revenue and 9.5% EBITDA growth. This result was driven mainly by initiatives in premiumization in the smart affordability. Also our dedicated innovation team for NAB was responsible for the launch of Natu an all natural soft drink made from banana different juices fruits and. And we also came out with the new visual brand identity for Guaran Antarctica. CAC continued to deliver excellent results in 2019. Balanced top line growth with 5.3% volume and 4.4% net revenue per hectoliter growth 22% EBITDA growth and 440 basis points of EBITDA margin expansion. These results were driven by the strong brand performance of Presidente in Dominican Republic Atlas Golden Light in Panama and Corona and Model Special in Guatemala as well as package innovation.
In last we had a very volatile year with a challenging macroeconomic and political backdrop throughout the region. Volumes declined 3.5% while net revenue grew 15.1% and EBITDA increased 12.3%. Argentina suffered during the first half however volumes started to perform better in H2. Although given the FX devaluation costs remained under pressure. Both Chile and Bolivia suffered social unrest in Q4 which impacted volumes. On the other hand we feel that our portfolio is healthy and we are well positioned in all countries to benefit from a more stable operating environment. Lastly Canada had a very tough year with volume decline driven by a soft beer industry and commodity headwinds leading to a 10.7% decline in EBITDA and a margin contraction of 290 basis points. We will continue to focus on further developing our portfolio with brands like Michelob Ultra while in parallel we will invest in other categories such as CBDs self serves and the ready-to-drink beverages. An example being the recent acquisition of the neutral brand an award-winning spirits company. So all in all a strong first half weak second half some important accomplishments related to our plans for the future. That's pretty much 2019. Now let's talk about the future. 2020 is a year where we have to do better and I believe we can do it particularly resuming EBITDA growth in Brazil Beer while transforming the company.
There will continue to be cost pressures first due to FX headwinds albeit to a lesser extent even commodity tailwinds and we will face tough comps in the beginning of the year particularly in the first quarter given the peak of cost pressures as well as S&M phasing. That said there is still plenty of opportunities going forward. It is up to us to leverage our capabilities and strengths to win the market. And to do that we will focus on three things. First our best as an ecosystem. We are part of a broader ecosystem that connect farmers to consumers and we have to be protagonists and collaboratives to accelerate the expansion of this ecosystem in a healthy and sustainable way. In the front line this translates into customer satisfaction becoming the best partner to our clients. For instance in Brazil last year according to our internal figures we saw an improvement of 16 points in Net Promoter Score which measures customer satisfaction. Also we have trimmed back and set the most ambitious goals in terms of plastic pollution of the industry. We want to get rid of 100% of our plastic pollution by 2025. In addition we foster our people's creativity and drive to bring positive impact with initiatives like Irma in Brazil. Our mineral water that reversed all the profits obtained with the products to keep clean water access to Brazilian in need. Second innovation as a mindset. The success of our innovation pipeline is the best metric of our consumer centricity.
We are working on innovating more in the smarter moving faster adjusting with learnings and when successful rolling out leveraging our scale. Just to illustrate how innovation is here to stay in 2019 10% of our Brazil Beer revenues came from products that did not exist three years ago versus 5% in 2018. We are organized to innovate in five dimensions in Brazil Beer. A flavors profile and bitterness health and wellness regionally convenience and the future beverages. To support this we reshaped the whole organization creating the innovation hubs that work more autonomously in agile modes. We have invested more capex to improve the flexibility of each of our breweries and ability to innovate bringing the supply time to market to 2.5 months. We believe this will be a competitive advantage as we continue to evolve along with consumers. Third business transformation enabled by technology. I know there is a lot of hype around transformation but we are going deep here and I'm happy with the early stage results. Through the continuous expansion of our B2B platform we believe we can deliver better service level and create new commercial opportunities for our customers. We will be ready for a 24/7 order taking to talk in social platforms to drive traffic to customers and have regional marketing structures to have the right timing and create the right content. In Brazil we are connecting digitally with more than 220000 point of sales today from approximately 50000 in the beginning of 2019. The supply chain of the future is another initiative that combines autonomous operators sensors in state of the art lines. This way we ensure we bring flexibility to address a more complex world without increasing costs.
And on top of that we are seeding new ventures to address in home-delivery point-of-sale marketplace and fintech just to name a few. So to wrap up we see a lot of opportunities across our operations like trade up trade up to core plus trade up to premium per capita growth in new beverage categories just to name a few opportunities. All of this in a company with a strong team in a talented pipeline a robust cash flow generation that allow us to have the right resources to invest behind our brands to connect with consumers a large and diverse portfolio and the clear strategy and priorities. I'm not saying the road ahead will be free of bumps and turns but we are no strangers to operating in volatile and uncertain markets. And there will always be competitive pressure. We love a good challenge. Over the last decade we have delivered consistent results more often than not and it is up to me and my team to live up to that legacy. And we are looking forward to it. So thank you.
Thank you everybody. I think we can now move to the Q&A.
Questions and Answers:
Operator
[Operator Instructions] Our first question comes from Isabella Simonato with Bank of America. Please go ahead Isabella. Your line is open.
Isabella Simonato -- Bank of America -- Analyst
Hello and good morning everyone. Jean Fernando I would like to know based on your guidance for Q1 with almost a 20% EBITDA if that if you could address the main lines of the what will contribute to the EBITDA decline if you could give us some more color contribution of which are we trying to the decline? And moving forward in the year within those lines where is the main driver of recovery here so you can deliver an EBITDA growth in the full 2020?
Fernando Tennenbaum -- Chief Financial, Investor Relations and Shared Services Officer
Good morning and number thank you for for the question. Isabella Fernando here. Let me put a little bit context behind it. We are excited about 2020. And we expect to grow EBIT in 2020. But given when we look at our cost of goods sold kind of quarter-by-quarter it's fair to say that the peak cost pressure is going to be in the first quarter. And also we decided to kind of invest a little bit ahead of the curve in terms of sales and marketing because we are excited about the year so there's going to be more investment in the beginning of the year. When we couple these two things then it led to active Q1 but we think the strategy that we have for the year that's why we decided to be upfront about it so we don't surprise the market. But our view is actually a growth for the year. We just want to highlight that it's going to be starting from a low base because we are investing ahead of the curve then we have some cost pressures in the beginning but we gain momentum as the year goes by.
Isabella Simonato -- Bank of America -- Analyst
But regarding the cost curve when you look especially in the FX actually we would expect the stronger pressure to come in Q4 right? When BRL depreciated the most. I mean that the hedging policy continues to be the same you have one year or anything different that would explain the cost pressure to be stronger in Q1?
Jean Jereissati Neto -- Chief Executive Officer, Chief Sales and Marketing Officer
No it's a combination. It's a combination of effects and commodities. And it's always whenever you see year-on-year compare to the previous year. So we expect the biggest cost pressure to be Q1.
Fernando Tennenbaum -- Chief Financial, Investor Relations and Shared Services Officer
And just sorry just to reinforce we mentioned that there are FX cost pressures. We have commodity tailwinds so the net-net is less cost pressure than we had in 2019.
Operator
The next question is from Antonio Gonzalez with Credit Suisse. Please go ahead.
Antonio Gonzalez -- Credit Suisse -- Analyst
Hi, guys. Good morning. Well firstly Jean and Tennenbaum congrats on your respective appointments recently and my best wishes for both of you. I got two questions if I may. First Brito referenced this morning at the ABI call revisiting the category expansion framework right? I mean some parameters of the model anyway affordability price elasticity and so on. And he cited some examples Mexico South Africa Colombia and I was wondering if you can elaborate on how this might apply to Brazil? Specifically I mean if I look at this quarter it is obvious that you guys pursued more volume instead of margins right? And your pricing was a little bit more aggressive etc. So I wanted to ask if you can frame this conversation for the very specific case of Brazil? And if you expect that volume acceleration to materialize already in 2020? Or you would only expect a more gradual progression toward higher volume growth rate into the future? So that's number one. And then number two I wanted to ask on your guidance and I guess the metric that you feel comfortable sharing with the market.
Do not sharing specific range of Cogs per hectoliter for this year right as you did in the last couple of years. And also ABI is providing this range for EBITDA growth to 5%. So I understand that's providing a very granular number market-by-market for you guys might be competitively sensitive. But I wanted to ask you if directionally you can put in perspective this guidance from ABI would you expect a similar growth rate? Or is there any reason perhaps the profit warning that you're launching for 1Q in Brazil that should drive your overall growth below the range that ABI is indicated.
Fernando Tennenbaum -- Chief Financial, Investor Relations and Shared Services Officer
Antonio let me start by the second question Fernando here and then Jean would take over for first one. I believe our guidance at the end of the day is kind of to grow EBITDA in Beer Brazil. That was the important guidance. I believe they you were calling one here. I will not say if I would before call the same way because it's much more of a part of our strategy to invest a little bit ahead of curve. And some kind of hedging dynamics that you know that your cost of goods sold a little bit a little bit harder on the Q1. When we have these two things if we issue the guidance to grow EBITDA and we start with a very low Q1 I believe that could cause some noise. So we'd rather be upfront about it. It's part of our strategy. We want to invest ahead of the curve because we are excited for the year. And so that's why we kind of give a very clear view on the Q1. To a similar extent I believe a couple of years ago we also give guidance on cost of goods sold on such links between Q3 and Q4 because the numbers were kind of very volatile and it was important to give the right direction to the market. So that was the context of the Q1 more than anything else. But to answer your question the guidance for Q1 doesn't impact anything at all our view for the full year. It's pretty much how designed our plans since the end of last year.
Jean Jereissati Neto -- Chief Executive Officer, Chief Sales and Marketing Officer
Antonio Jean coming back to your first question. We are we have been very excited about the category expansion framework. And we the full for the whole year last year 2019 we have been tropicalizing it with this view about consumer-centric and looking for the Brazilian mindset we made more than 30000 interviews in Brazil with consumers 15000 samplings of products in the market new competitors. We created in our Draftline internal agency one area of social listening that we participate and we captured more than 16 million conversations about beer and based on that we kind of trapize category expansion that came initially from SAB to Brazil a little bit more complex a little bit more deep and based on that we are really putting our efforts of resource allocated in our efforts of really differentiating the brands based on the occasions. And then fulfill this framework with the pipe of our pipeline of innovation. And based on that it was that scope or mout was launched and it was a biggest contributor of our volumes in 2018. With that framework we brought Bohemia that it was a brand that was very low profile to the core plus segment in the Classic Lagers. And it's really on fire. And with that too we implemented the smart affordability play with the regional brands and magnifica is doing amazing legitimate doing good too.
So we are very excited about the way we are picturing the market today in how the market will be in the future. Category expansion is really driving us but in a deeper way because we crucial it. And we saw our volumes back to growth in 2019 based on that learnings and based on the first initiatives that we have. And we believe that it will continue moving forward based on that strategy our volume will continue to gain momentum. Of course Brazil is very volatile. For example the Q1 that we have in 2019 was a very strong Q1 in terms of volumes. And we believe that in the bumps in the road we want to see volumes really going up consistently.
Antonio Gonzalez -- Credit Suisse -- Analyst
Right, thank you so much, and congratulations again.
Jean Jereissati Neto -- Chief Executive Officer, Chief Sales and Marketing Officer
Thank you.
Operator
The next question is from Luca Sabic with Goldman Sachs. Please go ahead.
Luca Sabic -- Goldman Sachs -- Analyst
Hi, Good afternoon, Fernando I guess congratulations to both of you for the new roles. And I was going to ask two questions. The first would be on the to Jean on pricing strategy and timing going forward. I was wondering clearly over the last couple of years it's been a friction between supporting volume growth pricing timing competitive pressure promotional activity and so on and so forth. So my question is more should we think about the future with Ember possibly being a bit more flexible with the way the prices are passed through into the market? And we used to have a little bit of a calendar fixed in the third quarter. And I'm curious to hear your views on whether that's still going to be the case? Or you may be more opportunistic or anything may change on that front. That would be the first question. And then secondly I think you make reference to a number of investments in technology digital opportunities? And I guess there's a lot of that is going on in that space. And I was curious if you could maybe nearly down to if you were to mention one particular initiative or one particular capability where do you see things that could have bigger impact for the performance but also where do you see the number actually could have competitive advantage in doing some of this implement some of this initiative whether it's through scale whether it's through proprietary capabilities or whatever else? I'm just curious to maybe narrow down a little from a priority or impact standpoint?
Jean Jereissati Neto -- Chief Executive Officer, Chief Sales and Marketing Officer
Okay. Thank you very much Luca for the question. Look over the long run price really should grow in line with inflation eventually disposable income. And what we have learned over the last few years talking about the higher level strategies that's depending on the economic environment sometimes it's preferable to adopt a more inclusive pricing strategy in order to bring more consumers to the category. What we see in Brazil is that everybody is very optimistic. We see a little bit confidence going up but Brazilian consumers still income is still not recovering with 10. And so we have to be very cautious about that. Looking at this number. On top of that when we lay out on the execution on the decision of the calendar and the pricings we always take in consideration besides the macro scenario the elasticities the channels there is an important thing here in Brazil the channels in the mix trends. The category expansion opportunities where we are bringing a lot of innovation that we have the mindset of being accretive. So it's part of our plan. And the competitive dynamics. When we see from 2015 to 2018 with the economic crisis our volumes declined it's 10 million hectoliters.. In and we have a very rigid and we very disciplined price strategy independent if we were with a positive macro scenario or with or in crisis. And we suffered some million hectoliters because of that.
In 2019 we saw consumer sentiment improving even though disposable was not rebounding but we were making progress to recoveR 2.3 million hectoliters of volumes with the conduct that we had last year even though the calendar it is something that kind of it was kind of frustrating a little bit last year because it was very volatile. We see the Q3 a little bit going through the Q4. It was something that we have to work in on to do it better. So having said that long term should be in line with inflation. Our volumes are really based on our category expansion framework that we want to that we are deep and we want to bring in. But we have to be is marked in the dynamics of Brazil in the sentiment of the consumer in everything. Regarding technology. So regarding technology so we are very excited about what we are doing with technology. We are so we are doing a lot of things that are in adjacencies OK? But what I'm really am excited about it is the transformation of our contact strategy. So we have a window of opportunity. I checked it with other FMCGS looks like we are ahead of the FMCGs that that we have in the market not even mention the beverage companies but the FMCGs in general. We already have 220000 clients that connect with us through the digital platforms. Our sales reps are really transforming their activities in a more negotiable more talking about liquids talking about innovations.
And we won around our B2B platform really protect the on-trade reduce the cost of on trade and increase our service satisfaction because we want to put not just beer but all the categories that is mobile needs to buy all the categories around not just about beverages with a marketplace. We made a deep study on pay points of the on trading. And one important cost and pain point it is the financial cost of machines credit cards. And we are together with this strategy put in place a fintech that reduce big time the cost of the on trade. So this context strategy. This upgraded B2B to a broader marketplace with assortment that can connect with social platforms where we can bring consumers to the customers that we want. It is something that is really having my time. I'm really excited about it. So this contact strategy of the future going much beyond the transactional activities in bringing traffic reducing pain points and costs. I really think we will create an edge for us in the market.
Luca Sabic -- Goldman Sachs -- Analyst
Very clear. Just real quick this 220000 that you mentioned that would be a share of total out of a total? Or is could you put that in context maybe and whether maybe...
Jean Jereissati Neto -- Chief Executive Officer, Chief Sales and Marketing Officer
25% of our clients that 25 some type of connection through digital.
Luca Sabic -- Goldman Sachs -- Analyst
Thank you.
Jean Jereissati Neto -- Chief Executive Officer, Chief Sales and Marketing Officer
Thank you very much.
Operator
The next question is from Robert Ottenstein with Evercore. Please go ahead.
Robert Ottenstein -- Evercore -- Analyst
Great, thank you very much. Just first one I want to echo the congratulations to everybody in terms of their terrific accomplishments Bernardo and the big moves that have been recently announced. In terms of the quarter I just want to push a little harder on a couple of things. The revenue per hectoliter for beer being down if you could talk a little bit about kind of piece that apart? And particularly what impact the smart affordability initiatives had on that? Maybe give us a sense of how much of your mix is more affordability and the impact on the volume? So that will be the first question. And the second question a little bit follow-up on the technology side. And in some of the new initiatives that you talked about at your sellside or investor event in Brazil last year is where things stand in the direct-to-consumer initiatives? What sort of progress you've had since then? Perhaps what percentage of the country is now with the logistics work which is now covered by direct-to-consumer and where do you see that going?
Jean Jereissati Neto -- Chief Executive Officer, Chief Sales and Marketing Officer
Thank you Robert. Thank you very much for your question. First of all talking about net revenue per hectoliter. What happened in Q4? As we anticipated in Q3 it was much more about the competitive dynamics and the stickiness of the price increase than this market for the? So this market for the for you to know is 10% of my volumes. We are happy with that. It is a because we know we have to do how to do. What really happen in Q4 it was a little bit of the dynamics of the Q3 inside a part of the Q4. And we anticipated this in the last quarter. Having said that if you look at the level of the net revenue per hectoliter that I had in the Q4 it was a it is still with all of that not in terms of percentage of growth but in the level it is a healthy level for us to start the next year to start 2020. So this is what I can tell you about net preference. The second thing is about the direct-to-consumer. Our vision is that this year we should get to 4% of our total net revenue with a direct transaction with consumers. The thing I'm more excited about the second thing I'm more excited about in terms of technology.
The first one I mentioned is the contact strategy of the future. The second one it is part of our innovation hub delineation. We are innovating in five dimensions flavors products with differentiation inside the pure malt health and wellness and then I put there convenience. And in the convenience piece there is a demand from consumers. We are working a lot on packaging lighter bigger smaller more convenient packages but we have a venture that's called delivery is a venture that guarantees beer at supermarket prices cold in 30 minutes at home. So this is a direct transaction with consumers a very a great value proposition. And it's just on fire. So this is the main initiatives that we have for DTC. We are doing two million orders in 2019 and this is expanding their self because we are expanding the series and it's a big opportunity for us. So in terms of DTC delivery is the most important is part of our innovation hub is a venture and is really on fire.
Robert Ottenstein -- Evercore -- Analyst
And what part of the or what percentage of the Brazilian population is today reachable within 30 minutes? And what do you think that will be at the end of the year?
Jean Jereissati Neto -- Chief Executive Officer, Chief Sales and Marketing Officer
Robert I believe for you to understand how delivery works delivery we connect consumers to our own our traditional point of connections or point of sales. So it's fair to say that pretty much most of the Brazilian population is within 30 minutes from a given point of sale.
Fernando Tennenbaum -- Chief Financial, Investor Relations and Shared Services Officer
The app but the app is still with the footprint tap in the advertisement and everything is still in around 40 cities of Brazil and we very fast. So the capability to go all over Brazil in the next three years.
Robert Ottenstein -- Evercore -- Analyst
Very impressive. Thank you.
Operator
The next question is from Thiago Duarte with BTG. Please go ahead.
Thiago Duarte -- BTG -- Analyst
Hello, everybody. Thanks for the opportunity. I have two questions. First of all it's actually related to dividend payments and and the timing of those dividends last year. I mean last year you didn't pay any interim dividends and you ended up paying a larger amount of interest on capital by the end of the year. Which provided a bigger tax break in the fourth quarter. So my question would be whether we should expect the same dividend or capital distribution policy in 2020 and beyond? Or whether this was a one-time event for any reason in 2019? That would be the first question. And second going back in or circling back into the discussion about the revenue revenue management initiatives. And as you guys mentioned the first station regarding the timing of the price increases last year and how that affected Q3 and into Q4 I think it was Jean who mentioned in the last question about having an adequate entry revenue per hectoliter in 2020. So if you could just elaborate that a little bit more. I mean my question is whether you would say that the revenue management initiatives that were implemented in Q4 should exist only in Q4? Or we should expect a little bit more of that into the beginning of 2020 particularly with regards to how historically revenue per hectoliter has decreased in Q1 relative to the Q4. So just wanted to understand what's the cruise speed there in terms of revenue per hectoliter would be helpful.
Fernando Tennenbaum -- Chief Financial, Investor Relations and Shared Services Officer
Thiago Fernando here. So first on your question on dividend payments I believe we even have the same question on a couple of calls last year and I think after the fact now it's easier to understand the reasons why we postponed the dividend toward the end of the year. For this year probably the base case should be something similar but these things are dynamic sometimes it depends on FX movements you might have with effects components on our accounts. And you may have a different decision. But more likely than not we should be we should follow a similar pattern. On the revenue front I don't think your kind of assessment of normally normally you start on a higher base then you get into summer which is normally a moment that we get a lot of volume a lot of events sometimes you activate a little bit more. So your your net revenue per hectoliter it slipped down a little bit. I don't think there is any difference but what I what Jean was referring to is that when you look at the absolute levels that we start the year when you see where the market is I believe it's a healthy level for us to start the year and implement our price and volume strategy going through 2020.
Thiago Duarte -- BTG -- Analyst
Okay, OK, thank you.
Operator
This concludes our question-and-answer session. I would like to turn the conference back over to Mr. Jean Jereisatti Neto for any closing remarks.
Jean Jereissati Neto -- Chief Executive Officer, Chief Sales and Marketing Officer
So guys thank you very much. My first call with you. It was a little bit of a one-sided that I'm responding questions. I really want to be closer have time in my agenda to be closer to you and get more feedback and make this conversation at richer for me in this process of this journey that I'm assuming now. So thank you very much for all the questions and let's keep in touch.
Operator
[Operator Closing Remarks]
Duration: 56 minutes
Call participants:
Fernando Tennenbaum -- Chief Financial, Investor Relations and Shared Services Officer
Jean Jereissati Neto -- Chief Executive Officer, Chief Sales and Marketing Officer
Isabella Simonato -- Bank of America -- Analyst
Antonio Gonzalez -- Credit Suisse -- Analyst
Luca Sabic -- Goldman Sachs -- Analyst
Robert Ottenstein -- Evercore -- Analyst
Thiago Duarte -- BTG -- Analyst
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Ambev S.A (NYSE: ABEV) Q4 2019 Earnings Call Feb 27, 2020, 11:00 a.m. Operator [Operator Closing Remarks] Duration: 56 minutes Call participants: Fernando Tennenbaum -- Chief Financial, Investor Relations and Shared Services Officer Jean Jereissati Neto -- Chief Executive Officer, Chief Sales and Marketing Officer Isabella Simonato -- Bank of America -- Analyst Antonio Gonzalez -- Credit Suisse -- Analyst Luca Sabic -- Goldman Sachs -- Analyst Robert Ottenstein -- Evercore -- Analyst Thiago Duarte -- BTG -- Analyst More ABEV analysis All earnings call transcripts 10 stocks we like better than Companhia de Bebidas das Americas When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. In NAB Brazil top line was up by 13% in the fourth quarter the result of a 16% volume growth and a net revenue per hectoliter decline of 2.5% driven by a different pricing calendar than in 2018 and affordability initiatives. | Operator [Operator Closing Remarks] Duration: 56 minutes Call participants: Fernando Tennenbaum -- Chief Financial, Investor Relations and Shared Services Officer Jean Jereissati Neto -- Chief Executive Officer, Chief Sales and Marketing Officer Isabella Simonato -- Bank of America -- Analyst Antonio Gonzalez -- Credit Suisse -- Analyst Luca Sabic -- Goldman Sachs -- Analyst Robert Ottenstein -- Evercore -- Analyst Thiago Duarte -- BTG -- Analyst More ABEV analysis All earnings call transcripts 10 stocks we like better than Companhia de Bebidas das Americas When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. Ambev S.A (NYSE: ABEV) Q4 2019 Earnings Call Feb 27, 2020, 11:00 a.m. The main items in the financial expense in the quarter were: first interest income of BRL151 million driven by our cash balance; second interest expense of BRL346 million that also include interest in current in connection with the Brazilian tax realization program as well as a noncash accrual of approximately severe late to the put option associated to our investment in the Dominican Republic business; third BRL576 million of losses on derivative instruments which were up year-over-year explained by the increase of FX hedges carry costs linked to our cost of goods sold and capex exposure in Argentina; fourth losses on nonderivative instruments in the amount of BRL537 million mainly explained by an adjustment in the fair value of the put option in the Dominican Republic and by a noncash intercompany FX variation mostly linked to the Argentinian peso depreciation; fifth taxes on financial transactions in the amount of BRL72 million; sixth BRL183 million of other financial expenses partially explained by accruals on legal contangos and pension plan expenses; seventh BRL93 million of the exceptional financial expenses mostly explained by a state payment; finally eight. | Operator [Operator Closing Remarks] Duration: 56 minutes Call participants: Fernando Tennenbaum -- Chief Financial, Investor Relations and Shared Services Officer Jean Jereissati Neto -- Chief Executive Officer, Chief Sales and Marketing Officer Isabella Simonato -- Bank of America -- Analyst Antonio Gonzalez -- Credit Suisse -- Analyst Luca Sabic -- Goldman Sachs -- Analyst Robert Ottenstein -- Evercore -- Analyst Thiago Duarte -- BTG -- Analyst More ABEV analysis All earnings call transcripts 10 stocks we like better than Companhia de Bebidas das Americas When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. Ambev S.A (NYSE: ABEV) Q4 2019 Earnings Call Feb 27, 2020, 11:00 a.m. The main items in the financial expense in the quarter were: first interest income of BRL151 million driven by our cash balance; second interest expense of BRL346 million that also include interest in current in connection with the Brazilian tax realization program as well as a noncash accrual of approximately severe late to the put option associated to our investment in the Dominican Republic business; third BRL576 million of losses on derivative instruments which were up year-over-year explained by the increase of FX hedges carry costs linked to our cost of goods sold and capex exposure in Argentina; fourth losses on nonderivative instruments in the amount of BRL537 million mainly explained by an adjustment in the fair value of the put option in the Dominican Republic and by a noncash intercompany FX variation mostly linked to the Argentinian peso depreciation; fifth taxes on financial transactions in the amount of BRL72 million; sixth BRL183 million of other financial expenses partially explained by accruals on legal contangos and pension plan expenses; seventh BRL93 million of the exceptional financial expenses mostly explained by a state payment; finally eight. | Operator [Operator Closing Remarks] Duration: 56 minutes Call participants: Fernando Tennenbaum -- Chief Financial, Investor Relations and Shared Services Officer Jean Jereissati Neto -- Chief Executive Officer, Chief Sales and Marketing Officer Isabella Simonato -- Bank of America -- Analyst Antonio Gonzalez -- Credit Suisse -- Analyst Luca Sabic -- Goldman Sachs -- Analyst Robert Ottenstein -- Evercore -- Analyst Thiago Duarte -- BTG -- Analyst More ABEV analysis All earnings call transcripts 10 stocks we like better than Companhia de Bebidas das Americas When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. Ambev S.A (NYSE: ABEV) Q4 2019 Earnings Call Feb 27, 2020, 11:00 a.m. But to answer your question the guidance for Q1 doesn't impact anything at all our view for the full year. |
28276.0 | 2020-01-09 00:00:00 UTC | Notable Two Hundred Day Moving Average Cross - ABEV | ABEV | https://www.nasdaq.com/articles/notable-two-hundred-day-moving-average-cross-abev-2020-01-09 | nan | nan | In trading on Thursday, shares of Ambev SA (Symbol: ABEV) crossed below their 200 day moving average of $4.57, changing hands as low as $4.51 per share. Ambev SA shares are currently trading off about 2.7% on the day. The chart below shows the one year performance of ABEV shares, versus its 200 day moving average:
Looking at the chart above, ABEV's low point in its 52 week range is $4 per share, with $5.45 as the 52 week high point — that compares with a last trade of $4.51.
Click here to find out which 9 other dividend stocks recently crossed below their 200 day moving average »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In trading on Thursday, shares of Ambev SA (Symbol: ABEV) crossed below their 200 day moving average of $4.57, changing hands as low as $4.51 per share. The chart below shows the one year performance of ABEV shares, versus its 200 day moving average: Looking at the chart above, ABEV's low point in its 52 week range is $4 per share, with $5.45 as the 52 week high point — that compares with a last trade of $4.51. Click here to find out which 9 other dividend stocks recently crossed below their 200 day moving average » The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In trading on Thursday, shares of Ambev SA (Symbol: ABEV) crossed below their 200 day moving average of $4.57, changing hands as low as $4.51 per share. The chart below shows the one year performance of ABEV shares, versus its 200 day moving average: Looking at the chart above, ABEV's low point in its 52 week range is $4 per share, with $5.45 as the 52 week high point — that compares with a last trade of $4.51. Click here to find out which 9 other dividend stocks recently crossed below their 200 day moving average » The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In trading on Thursday, shares of Ambev SA (Symbol: ABEV) crossed below their 200 day moving average of $4.57, changing hands as low as $4.51 per share. The chart below shows the one year performance of ABEV shares, versus its 200 day moving average: Looking at the chart above, ABEV's low point in its 52 week range is $4 per share, with $5.45 as the 52 week high point — that compares with a last trade of $4.51. Click here to find out which 9 other dividend stocks recently crossed below their 200 day moving average » The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In trading on Thursday, shares of Ambev SA (Symbol: ABEV) crossed below their 200 day moving average of $4.57, changing hands as low as $4.51 per share. The chart below shows the one year performance of ABEV shares, versus its 200 day moving average: Looking at the chart above, ABEV's low point in its 52 week range is $4 per share, with $5.45 as the 52 week high point — that compares with a last trade of $4.51. Ambev SA shares are currently trading off about 2.7% on the day. |
28277.0 | 2019-12-12 00:00:00 UTC | Bullish Two Hundred Day Moving Average Cross - ABEV | ABEV | https://www.nasdaq.com/articles/bullish-two-hundred-day-moving-average-cross-abev-2019-12-12 | nan | nan | In trading on Thursday, shares of Ambev SA (Symbol: ABEV) crossed above their 200 day moving average of $4.54, changing hands as high as $4.56 per share. Ambev SA shares are currently trading up about 2.5% on the day. The chart below shows the one year performance of ABEV shares, versus its 200 day moving average:
Looking at the chart above, ABEV's low point in its 52 week range is $3.77 per share, with $5.45 as the 52 week high point — that compares with a last trade of $4.57.
Click here to find out which 9 other dividend stocks recently crossed above their 200 day moving average »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In trading on Thursday, shares of Ambev SA (Symbol: ABEV) crossed above their 200 day moving average of $4.54, changing hands as high as $4.56 per share. The chart below shows the one year performance of ABEV shares, versus its 200 day moving average: Looking at the chart above, ABEV's low point in its 52 week range is $3.77 per share, with $5.45 as the 52 week high point — that compares with a last trade of $4.57. Click here to find out which 9 other dividend stocks recently crossed above their 200 day moving average » The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In trading on Thursday, shares of Ambev SA (Symbol: ABEV) crossed above their 200 day moving average of $4.54, changing hands as high as $4.56 per share. The chart below shows the one year performance of ABEV shares, versus its 200 day moving average: Looking at the chart above, ABEV's low point in its 52 week range is $3.77 per share, with $5.45 as the 52 week high point — that compares with a last trade of $4.57. Click here to find out which 9 other dividend stocks recently crossed above their 200 day moving average » The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In trading on Thursday, shares of Ambev SA (Symbol: ABEV) crossed above their 200 day moving average of $4.54, changing hands as high as $4.56 per share. The chart below shows the one year performance of ABEV shares, versus its 200 day moving average: Looking at the chart above, ABEV's low point in its 52 week range is $3.77 per share, with $5.45 as the 52 week high point — that compares with a last trade of $4.57. Click here to find out which 9 other dividend stocks recently crossed above their 200 day moving average » The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In trading on Thursday, shares of Ambev SA (Symbol: ABEV) crossed above their 200 day moving average of $4.54, changing hands as high as $4.56 per share. The chart below shows the one year performance of ABEV shares, versus its 200 day moving average: Looking at the chart above, ABEV's low point in its 52 week range is $3.77 per share, with $5.45 as the 52 week high point — that compares with a last trade of $4.57. Ambev SA shares are currently trading up about 2.5% on the day. |
28278.0 | 2019-11-08 00:00:00 UTC | Ambev Becomes Oversold (ABEV) | ABEV | https://www.nasdaq.com/articles/ambev-becomes-oversold-abev-2019-11-08 | nan | nan | Legendary investor Warren Buffett advises to be fearful when others are greedy, and be greedy when others are fearful. One way we can try to measure the level of fear in a given stock is through a technical analysis indicator called the Relative Strength Index, or RSI, which measures momentum on a scale of zero to 100. A stock is considered to be oversold if the RSI reading falls below 30.
In trading on Friday, shares of Ambev SA (Symbol: ABEV) entered into oversold territory, hitting an RSI reading of 29.3, after changing hands as low as $4.10 per share. By comparison, the current RSI reading of the S&P 500 ETF (SPY) is 67.0. A bullish investor could look at ABEV's 29.3 RSI reading today as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side. The chart below shows the one year performance of ABEV shares:
Looking at the chart above, ABEV's low point in its 52 week range is $3.77 per share, with $5.45 as the 52 week high point — that compares with a last trade of $4.12.
Find out what 9 other oversold stocks you need to know about »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In trading on Friday, shares of Ambev SA (Symbol: ABEV) entered into oversold territory, hitting an RSI reading of 29.3, after changing hands as low as $4.10 per share. A bullish investor could look at ABEV's 29.3 RSI reading today as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side. The chart below shows the one year performance of ABEV shares: Looking at the chart above, ABEV's low point in its 52 week range is $3.77 per share, with $5.45 as the 52 week high point — that compares with a last trade of $4.12. | A bullish investor could look at ABEV's 29.3 RSI reading today as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side. The chart below shows the one year performance of ABEV shares: Looking at the chart above, ABEV's low point in its 52 week range is $3.77 per share, with $5.45 as the 52 week high point — that compares with a last trade of $4.12. In trading on Friday, shares of Ambev SA (Symbol: ABEV) entered into oversold territory, hitting an RSI reading of 29.3, after changing hands as low as $4.10 per share. | In trading on Friday, shares of Ambev SA (Symbol: ABEV) entered into oversold territory, hitting an RSI reading of 29.3, after changing hands as low as $4.10 per share. A bullish investor could look at ABEV's 29.3 RSI reading today as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side. The chart below shows the one year performance of ABEV shares: Looking at the chart above, ABEV's low point in its 52 week range is $3.77 per share, with $5.45 as the 52 week high point — that compares with a last trade of $4.12. | In trading on Friday, shares of Ambev SA (Symbol: ABEV) entered into oversold territory, hitting an RSI reading of 29.3, after changing hands as low as $4.10 per share. A bullish investor could look at ABEV's 29.3 RSI reading today as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side. The chart below shows the one year performance of ABEV shares: Looking at the chart above, ABEV's low point in its 52 week range is $3.77 per share, with $5.45 as the 52 week high point — that compares with a last trade of $4.12. |
28279.0 | 2019-11-01 00:00:00 UTC | Ambev Stock: 3 Significant Risks, 3 Reasons to Buy Anyway | ABEV | https://www.nasdaq.com/articles/ambev-stock%3A-3-significant-risks-3-reasons-to-buy-anyway-2019-11-01 | nan | nan | Ambev (NYSE:) stock presents a conundrum for investors. The long-term drop in the equity and the dividend may point to a potential bargain. However, political and business headwinds in Brazil point to significant challenges. Deciding whether to buy Ambev stock, investors must weigh these benefits against both the risk and their risk tolerance.
Source: Anton Garin / Shutterstock.com
Most Americans have few reasons to know Ambev. The São Paulo-based brewery is a subsidiary of Interbrew International, a subsidiary of Anheuser-Busch InBev (NYSE:). For most residents of the U.S., their familiarity with the company likely revolves around Labatt Blue, a familiar brand for those who visit Canada. Outside of the Canadian connection, Ambev operates in Latin America, primarily in its home market of Brazil.
3 Notable Risks of Ambev Stock
This unfamiliarity with AmBev stock likely extends to its significant risks. For one, Ambev faces ongoing political turmoil in its home country. The company is currently contending with an antitrust complaint filed by competitors in Brazil. A group of 110 resellers and distributors alleges that ABEV has used its market position to push abusive commercial policies. If found guilty, AmBev could face a fine ranging from 0.1% to 20% of its revenue.
Also, in 2015, Ambev was tied to the corruption scandal in Brazil. However, Ambev products faced a massive tax increase that year, despite charges that the firm made “inappropriate payments” to two former Brazilian presidents to prevent the hike. However, the . To Vince Martin’s point, that would either point to the company’s innocence or highlight how poorly the firm has mastered the art of bribery.
Secondly, Vince Martin also makes another great point about the Brazil beer market itself. Brazil was the only one of the company’s regions to decline in the first six months of the year. It also accounts for more than half of company profits. Many blame an amid overall growth in the beer market. However, this may have begun to recover as the Brazil region saw modest revenue growth in the third quarter.
Third, ABEV stock has experienced a downtrend since peaking at more than $9 per share in early 2013. After recovering to the $7.25 per share range in March 2018, the stock tanked, falling below $4 per share by the end of that year. It has spent about 18 months trading in a range and sells for around $4.30 per share as of the time of this writing.
These risks increase the uncertainty surrounding ABEV stock. As of now, the company supports a forward price-earnings (PE) ratio of around 20.5. This might seem high for a company expected to post no profit growth this year and a 10.5% earnings increase in 2020.
3 Reasons to Buy ABEV
However, ABEV stock offers some reward for the risks. First, the current dividend yield stands at 5.2%, assuming the expected 24 cent per share gets paid. The company pays a varied dividend on a non-consistent basis. It seems especially inconsistent as it has not yet made a payout in 2019.
Secondly, the aforementioned 20.5 forward PE comes in much lower than the multiple for Constellation Brands (NYSE:) and Diageo (NYSE:). It also offers a higher dividend yield than Molson Coors (NYSE:). While not the cheapest alcoholic beverage equity, it offers some unique benefits for investors willing to invest.
Third, revenue also continues to hold up well. In the recent quarterly report, profits fell by 15.8% year-over-year due to higher income taxes. However, overall revenue increased by 5.9%. The only region to experience a decline was Canada, where they face more intense competition from craft beer. It also saw its highest growth in the Latin America south region, which prospers despite the economic turmoil in Argentina.
Should I Buy ABEV Stock?
Investors have good reasons to both avoid or take a chance on ABEV stock. The risks associated with the legal and business environment in Brazil may give investors second thoughts about buying at current levels. However, it has offered a generous, if volatile dividend. It also trades well compared to other alcoholic beverage peers. Growth in some regions also points to its resilience.
As customers and Ambev adapt to the higher taxes, I expect profit growth to resume. Moreover, given the revenue growth, I expect the downward move in ABEV stock to break at some point. For those wanting a beverage stock and do not mind the risk, they should consider Ambev stock.
As of this writing, Will Healy did not hold a position in any of the aforementioned stocks. You can at @HealyWriting.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | A group of 110 resellers and distributors alleges that ABEV has used its market position to push abusive commercial policies. Third, ABEV stock has experienced a downtrend since peaking at more than $9 per share in early 2013. These risks increase the uncertainty surrounding ABEV stock. | 3 Reasons to Buy ABEV However, ABEV stock offers some reward for the risks. A group of 110 resellers and distributors alleges that ABEV has used its market position to push abusive commercial policies. Third, ABEV stock has experienced a downtrend since peaking at more than $9 per share in early 2013. | A group of 110 resellers and distributors alleges that ABEV has used its market position to push abusive commercial policies. Third, ABEV stock has experienced a downtrend since peaking at more than $9 per share in early 2013. These risks increase the uncertainty surrounding ABEV stock. | 3 Reasons to Buy ABEV However, ABEV stock offers some reward for the risks. A group of 110 resellers and distributors alleges that ABEV has used its market position to push abusive commercial policies. Third, ABEV stock has experienced a downtrend since peaking at more than $9 per share in early 2013. |
28280.0 | 2019-10-24 00:00:00 UTC | Thursday's ETF with Unusual Volume: KXI | ABEV | https://www.nasdaq.com/articles/thursdays-etf-with-unusual-volume%3A-kxi-2019-10-24 | nan | nan | The iShares Global Consumer Staples ETF (KXI) is seeing unusually high volume in afternoon trading Thursday, with over 248,000 shares traded versus three month average volume of about 59,000. Shares of KXI were up about 0.2% on the day.
Components of that ETF with the highest volume on Thursday were Ambev (ABEV), trading up about 2.5% with over 4.9 million shares changing hands so far this session, and Procter & Gamble (PG), up about 1.8% on volume of over 2.1 million shares. Conagra Brands (CAG) is lagging other components of the iShares Global Consumer Staples ETF Thursday, trading lower by about 3%.
VIDEO: Thursday's ETF with Unusual Volume: KXI
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Components of that ETF with the highest volume on Thursday were Ambev (ABEV), trading up about 2.5% with over 4.9 million shares changing hands so far this session, and Procter & Gamble (PG), up about 1.8% on volume of over 2.1 million shares. The iShares Global Consumer Staples ETF (KXI) is seeing unusually high volume in afternoon trading Thursday, with over 248,000 shares traded versus three month average volume of about 59,000. Conagra Brands (CAG) is lagging other components of the iShares Global Consumer Staples ETF Thursday, trading lower by about 3%. | Components of that ETF with the highest volume on Thursday were Ambev (ABEV), trading up about 2.5% with over 4.9 million shares changing hands so far this session, and Procter & Gamble (PG), up about 1.8% on volume of over 2.1 million shares. The iShares Global Consumer Staples ETF (KXI) is seeing unusually high volume in afternoon trading Thursday, with over 248,000 shares traded versus three month average volume of about 59,000. Conagra Brands (CAG) is lagging other components of the iShares Global Consumer Staples ETF Thursday, trading lower by about 3%. | Components of that ETF with the highest volume on Thursday were Ambev (ABEV), trading up about 2.5% with over 4.9 million shares changing hands so far this session, and Procter & Gamble (PG), up about 1.8% on volume of over 2.1 million shares. The iShares Global Consumer Staples ETF (KXI) is seeing unusually high volume in afternoon trading Thursday, with over 248,000 shares traded versus three month average volume of about 59,000. VIDEO: Thursday's ETF with Unusual Volume: KXI The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Components of that ETF with the highest volume on Thursday were Ambev (ABEV), trading up about 2.5% with over 4.9 million shares changing hands so far this session, and Procter & Gamble (PG), up about 1.8% on volume of over 2.1 million shares. The iShares Global Consumer Staples ETF (KXI) is seeing unusually high volume in afternoon trading Thursday, with over 248,000 shares traded versus three month average volume of about 59,000. Shares of KXI were up about 0.2% on the day. |
28281.0 | 2019-10-22 00:00:00 UTC | ABEV Makes Bullish Cross Above Critical Moving Average | ABEV | https://www.nasdaq.com/articles/abev-makes-bullish-cross-above-critical-moving-average-2019-10-22 | nan | nan | In trading on Tuesday, shares of Ambev SA (Symbol: ABEV) crossed above their 200 day moving average of $4.62, changing hands as high as $4.69 per share. Ambev SA shares are currently trading up about 2.1% on the day. The chart below shows the one year performance of ABEV shares, versus its 200 day moving average:
Looking at the chart above, ABEV's low point in its 52 week range is $3.77 per share, with $5.45 as the 52 week high point — that compares with a last trade of $4.67.
Click here to find out which 9 other stocks recently crossed above their 200 day moving average »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In trading on Tuesday, shares of Ambev SA (Symbol: ABEV) crossed above their 200 day moving average of $4.62, changing hands as high as $4.69 per share. The chart below shows the one year performance of ABEV shares, versus its 200 day moving average: Looking at the chart above, ABEV's low point in its 52 week range is $3.77 per share, with $5.45 as the 52 week high point — that compares with a last trade of $4.67. Click here to find out which 9 other stocks recently crossed above their 200 day moving average » The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In trading on Tuesday, shares of Ambev SA (Symbol: ABEV) crossed above their 200 day moving average of $4.62, changing hands as high as $4.69 per share. The chart below shows the one year performance of ABEV shares, versus its 200 day moving average: Looking at the chart above, ABEV's low point in its 52 week range is $3.77 per share, with $5.45 as the 52 week high point — that compares with a last trade of $4.67. Click here to find out which 9 other stocks recently crossed above their 200 day moving average » The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In trading on Tuesday, shares of Ambev SA (Symbol: ABEV) crossed above their 200 day moving average of $4.62, changing hands as high as $4.69 per share. The chart below shows the one year performance of ABEV shares, versus its 200 day moving average: Looking at the chart above, ABEV's low point in its 52 week range is $3.77 per share, with $5.45 as the 52 week high point — that compares with a last trade of $4.67. Click here to find out which 9 other stocks recently crossed above their 200 day moving average » The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In trading on Tuesday, shares of Ambev SA (Symbol: ABEV) crossed above their 200 day moving average of $4.62, changing hands as high as $4.69 per share. The chart below shows the one year performance of ABEV shares, versus its 200 day moving average: Looking at the chart above, ABEV's low point in its 52 week range is $3.77 per share, with $5.45 as the 52 week high point — that compares with a last trade of $4.67. Ambev SA shares are currently trading up about 2.1% on the day. |
28282.0 | 2019-09-13 00:00:00 UTC | Ambev Stock Might Be the Best Beer Bet Heading into 2020 | ABEV | https://www.nasdaq.com/articles/ambev-stock-might-be-the-best-beer-bet-heading-into-2020-2019-09-13 | nan | nan | Back in April, I featured Brazilian beer company Ambev (NYSE:) in an article about the best large-cap stocks to own under $10. As I write this, Ambev stock is up 4.5%.
Source:
The : Ford (NYSE:F) is down 1.6% and Sirius XM (NYSE:) is up 13.7%. Over the same five months, the S&P 500 is up 2.5%, an indication that low-priced stocks did well over the summer.
As for Anheuser-Busch (NYSE:), who owns more than 60% of ABEV stock is up 6.9% over the same period, 240 basis points higher than its Brazilian subsidiary. However, year to date it’s up 45.0% including dividends through Sept. 11, 2.4 times Ambev’s total return for the year.
With three-and-a-half months left in 2019, I’m wondering if ABEV, BUD, or some other beer stock is the best bet heading into 2020.
Ambev Stock is the Best Bet
Ambev’s 15-year total annual return is quite good, at 11.2%. That trails both its brewing peers and the Brazilian market at 13.5%. However, the entire U.S. market over this period could only muster a total return of 9.3%.
My InvestorPlace colleague Vince Martin recently highlighted in an article in late August that than its parent and is growing its normalized EBITDA on an organic basis at more than 10% per year.
In the first six months of 2019, . Three of its operating segments: Brazil, Central America and the Caribbean, and Canada delivered growth while only the company’s South American division (excluding Brazil) experienced declining sales.
South America might be experiencing a boom but Ambev’s holding its own in a very competitive market. It’s also important to remember that Ambev also makes non-alcoholic beverage products. In the first six months of 2019, it grew this segment by 19.6%, accounting for 15% of Ambev’s overall revenues.
Although Ambev has only paid an eight-cent dividend so far in 2019, its goal is to deliver an average annual yield of 5%. Currently, its forward dividend yield is 5.2%.
Over the long haul, buying ABEV stock under $5 should deliver above-average results, .
Bud’s the Call
Even though Budweiser might have a ton of debt on its balance sheet (its net debt at the end of June was $104.2 billion) it still managed to generate in free cash flow in the first six months of the year.
On an annualized basis over the trailing 12 months, BUD had in free cash flow, $54.1 billion in revenue, and a free cash flow margin of 21.1%. This means it’s generating 21 cents of free cash flow for every $1 of revenue.
, a move that’s expected to raise $5 billion and give it additional liquidity on the remainder of its ownership stake, the company’s giving itself financial flexibility to pay down debt, repurchase shares, buy a cannabis company, or countless other things it could do with the funds.
The point is, Anheuser-Busch is the largest beer company in the world. Investors shouldn’t have a problem with a dividend yield of 3.5% given the appreciation it’s experienced so far in 2019.
The Bottom Line on Ambev Stock
If you’re not sure which beer company to back, a good alternative would be to buy a thematic portfolio, either through an ETF, mutual fund, or third-party provider such as Motif Investing.
Motif currently has a portfolio called that invests in makers of alcoholic beverages including BUD and ABEV, which account for 19.4% and 16.6% of the portfolio, respectively. Beer stocks account for 46.3% of the portfolio with wine and spirits, accounting for the rest.
Over the past year, it’s generated a return of 8.6%, better than both the S&P 500 and the Invesco Dynamic Food & Beverage ETF (NYSEARCA:).
At the time of this writing Will Ashworth did not hold a position in any of the aforementioned securities.
The post appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | As for Anheuser-Busch (NYSE:), who owns more than 60% of ABEV stock is up 6.9% over the same period, 240 basis points higher than its Brazilian subsidiary. With three-and-a-half months left in 2019, I’m wondering if ABEV, BUD, or some other beer stock is the best bet heading into 2020. Over the long haul, buying ABEV stock under $5 should deliver above-average results, . | As for Anheuser-Busch (NYSE:), who owns more than 60% of ABEV stock is up 6.9% over the same period, 240 basis points higher than its Brazilian subsidiary. With three-and-a-half months left in 2019, I’m wondering if ABEV, BUD, or some other beer stock is the best bet heading into 2020. Over the long haul, buying ABEV stock under $5 should deliver above-average results, . | As for Anheuser-Busch (NYSE:), who owns more than 60% of ABEV stock is up 6.9% over the same period, 240 basis points higher than its Brazilian subsidiary. With three-and-a-half months left in 2019, I’m wondering if ABEV, BUD, or some other beer stock is the best bet heading into 2020. Over the long haul, buying ABEV stock under $5 should deliver above-average results, . | As for Anheuser-Busch (NYSE:), who owns more than 60% of ABEV stock is up 6.9% over the same period, 240 basis points higher than its Brazilian subsidiary. With three-and-a-half months left in 2019, I’m wondering if ABEV, BUD, or some other beer stock is the best bet heading into 2020. Over the long haul, buying ABEV stock under $5 should deliver above-average results, . |
28283.0 | 2019-08-30 00:00:00 UTC | Friday's ETF with Unusual Volume: KXI | ABEV | https://www.nasdaq.com/articles/fridays-etf-with-unusual-volume%3A-kxi-2019-08-30 | nan | nan | The iShares Global Consumer Staples ETF is seeing unusually high volume in afternoon trading Friday, with over 713,000 shares traded versus three month average volume of about 75,000. Shares of KXI were trading flat on the day.
Components of that ETF with the highest volume on Friday were Ambev, trading up about 1.1% with over 10.7 million shares changing hands so far this session, and Campbell Soup, up about 8.5% on volume of over 6.2 million shares. Estee Lauder is lagging other components of the iShares Global Consumer Staples ETF Friday, trading lower by about 2.4%.
VIDEO: Friday's ETF with Unusual Volume: KXI
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The iShares Global Consumer Staples ETF is seeing unusually high volume in afternoon trading Friday, with over 713,000 shares traded versus three month average volume of about 75,000. Components of that ETF with the highest volume on Friday were Ambev, trading up about 1.1% with over 10.7 million shares changing hands so far this session, and Campbell Soup, up about 8.5% on volume of over 6.2 million shares. Estee Lauder is lagging other components of the iShares Global Consumer Staples ETF Friday, trading lower by about 2.4%. | The iShares Global Consumer Staples ETF is seeing unusually high volume in afternoon trading Friday, with over 713,000 shares traded versus three month average volume of about 75,000. Estee Lauder is lagging other components of the iShares Global Consumer Staples ETF Friday, trading lower by about 2.4%. VIDEO: Friday's ETF with Unusual Volume: KXI The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The iShares Global Consumer Staples ETF is seeing unusually high volume in afternoon trading Friday, with over 713,000 shares traded versus three month average volume of about 75,000. Components of that ETF with the highest volume on Friday were Ambev, trading up about 1.1% with over 10.7 million shares changing hands so far this session, and Campbell Soup, up about 8.5% on volume of over 6.2 million shares. VIDEO: Friday's ETF with Unusual Volume: KXI The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The iShares Global Consumer Staples ETF is seeing unusually high volume in afternoon trading Friday, with over 713,000 shares traded versus three month average volume of about 75,000. Shares of KXI were trading flat on the day. Components of that ETF with the highest volume on Friday were Ambev, trading up about 1.1% with over 10.7 million shares changing hands so far this session, and Campbell Soup, up about 8.5% on volume of over 6.2 million shares. |
28284.0 | 2019-08-28 00:00:00 UTC | On the Dip, Ambev Stock Looks Attractive but Risky | ABEV | https://www.nasdaq.com/articles/on-the-dip-ambev-stock-looks-attractive-but-risky-2019-08-28 | nan | nan | It would appear there’s a strong “buy the dip” case for Ambev (NYSE:) stock at the moment. Ambev stock has pulled back some 20% in barely a month on almost no news.
Source:
Reports in Brazilian media this month cited testimony that alleged in the country’s long-running corruption scandal, often referred to as Operation Car Wash. Ambev has denied any involvement. The company that beverage taxes spiked in 2015 — an increase the bribes ostensibly were meant to prevent.
Meanwhile, Ambev actually posted a blowout second quarter report last month, with Ambev stock touching a 52-week high on the news. A month later, the stock seems on track to touch a 2019 low. With a reported dividend yield of 5.5%, a more reasonable valuation, and potential growth in Latin America and Canada, the decline seems to present an opportunity.
That may be the case. ABEV is cheaper. Growth has been more impressive than it appears. But there are risks here, too — risks highlighted by the recent decline. Investors should take a look at buying the dip in ABEV stock. They should also understand that the declines can continue.
The Case for Ambev Stock
There’s a lot to like when it comes to Ambev stock. Valuation isn’t necessarily cheap: the stock trades at 23.6x trailing twelve-month adjusted EPS. But EV/EBITDA, below 13x, is more attractive.
In the context of the industry, those multiples are relatively benign. Anheuser-Busch InBev (NYSE:), who owns over 60% of Ambev, trades at about 12x EV/EBITDA with a much weaker balance sheet. (A-B had to cut its dividend to manage its debt. Ambev has net cash.) Boston Beer (NYSE:) trades at a massive premium to ABEV stock. Constellation Brands (NYSE:,NYSE:STZ.B) trades at 21x forward earnings despite weaker growth of late.
Investors usually are willing to pay a premium for beer or spirits companies because growth can last for decades. For a company like Ambev, whose leading brands in Brazil include Skol, Brahma, and Antarctica, that can be the case.
Meanwhile, recent performance looks solid. Earnings took a tumble in 2016, owing to the aforementioned tax hike in Brazil. But normalized EBITDA, as the company terms it, increased nearly 9% year-over-year on an organic basis in the first half despite a big jump in input costs. That follows a 14% increase in 2018 on the same basis.
To top it off, ABEV stock provides a solid dividend. Like many overseas companies, Ambev doesn’t give a consistent payout. (In fact, it hasn’t yet declared a dividend for this year, which is unusual.) But the 2018 payout totaled 12.6 cents – suggesting a 2.9% yield.
So there’s a nice combination of growth, value, and income — at a cheaper price to boot.
The Risks to ABEV Stock
That said, the risks here need to be monitored as well. It’s tempting to argue that the 20% decline from post-earnings highs came on no news, bribery allegations aside. But that doesn’t mean they came for no reason.
Over half of the company’s profit comes from Brazil. (About 10% comes from Canada, where the company sells Lablatt beer. The remainder comes from elsewhere in Latin America and the Caribbean.) And investors have quickly soured on Brazilian stocks. The iShares MSCI Brazil Capped ETF (NYSEARCA:) has declined 14% in the past month.
A weaker Brazilian real is an issue. But there is real emerging market risk here as well, with Argentina another sore spot. And so the fact that ABEV stock is cheaper than U.S. beer producers may not mean the stock is cheap. It probably should trade at a discount, given macroeconomic uncertainty and higher volatility.
The other issue is the overall health of beer. Certainly, U.S. trends don’t look particularly positive. Even SAM stock – which has gained over 80% – has benefited from non-beer growth.
At the moment, the overall beer market in Brazil, at least, appears to be growing. But craft brewers are . The former ‘set it and forget it’ nature of buying beer stocks might be over — as witnessed by the huge plunge in BUD stock last year.
Both risks have hit ABEV stock hard in recent years. The case for ABEV wasn’t terribly different last year at $7, or above $6 back in 2014. Returns for most shareholders, dividends included, have been negative over the past five years. Maybe this time is different; maybe ABEV stock finally is too cheap. Investors have said that before.
As of this writing, Vince Martin has no positions in any securities mentioned.
The post appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | ABEV is cheaper. Investors should take a look at buying the dip in ABEV stock. Boston Beer (NYSE:) trades at a massive premium to ABEV stock. | ABEV is cheaper. Investors should take a look at buying the dip in ABEV stock. Boston Beer (NYSE:) trades at a massive premium to ABEV stock. | And so the fact that ABEV stock is cheaper than U.S. beer producers may not mean the stock is cheap. ABEV is cheaper. Investors should take a look at buying the dip in ABEV stock. | And so the fact that ABEV stock is cheaper than U.S. beer producers may not mean the stock is cheap. ABEV is cheaper. Investors should take a look at buying the dip in ABEV stock. |
28285.0 | 2019-08-23 00:00:00 UTC | Ambev is Now Oversold (ABEV) | ABEV | https://www.nasdaq.com/articles/ambev-is-now-oversold-abev-2019-08-23 | nan | nan | Legendary investor Warren Buffett advises to be fearful when others are greedy, and be greedy when others are fearful. One way we can try to measure the level of fear in a given stock is through a technical analysis indicator called the Relative Strength Index, or RSI, which measures momentum on a scale of zero to 100. A stock is considered to be oversold if the RSI reading falls below 30.
In trading on Friday, shares of Ambev SA (Symbol: ABEV) entered into oversold territory, hitting an RSI reading of 28.9, after changing hands as low as $4.43 per share. By comparison, the current RSI reading of the S&P 500 ETF (SPY) is 44.4. A bullish investor could look at ABEV's 28.9 RSI reading today as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side. The chart below shows the one year performance of ABEV shares:
Looking at the chart above, ABEV's low point in its 52 week range is $3.77 per share, with $5.45 as the 52 week high point — that compares with a last trade of $4.42.
Find out what 9 other oversold stocks you need to know about »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In trading on Friday, shares of Ambev SA (Symbol: ABEV) entered into oversold territory, hitting an RSI reading of 28.9, after changing hands as low as $4.43 per share. A bullish investor could look at ABEV's 28.9 RSI reading today as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side. The chart below shows the one year performance of ABEV shares: Looking at the chart above, ABEV's low point in its 52 week range is $3.77 per share, with $5.45 as the 52 week high point — that compares with a last trade of $4.42. | A bullish investor could look at ABEV's 28.9 RSI reading today as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side. The chart below shows the one year performance of ABEV shares: Looking at the chart above, ABEV's low point in its 52 week range is $3.77 per share, with $5.45 as the 52 week high point — that compares with a last trade of $4.42. In trading on Friday, shares of Ambev SA (Symbol: ABEV) entered into oversold territory, hitting an RSI reading of 28.9, after changing hands as low as $4.43 per share. | In trading on Friday, shares of Ambev SA (Symbol: ABEV) entered into oversold territory, hitting an RSI reading of 28.9, after changing hands as low as $4.43 per share. A bullish investor could look at ABEV's 28.9 RSI reading today as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side. The chart below shows the one year performance of ABEV shares: Looking at the chart above, ABEV's low point in its 52 week range is $3.77 per share, with $5.45 as the 52 week high point — that compares with a last trade of $4.42. | In trading on Friday, shares of Ambev SA (Symbol: ABEV) entered into oversold territory, hitting an RSI reading of 28.9, after changing hands as low as $4.43 per share. A bullish investor could look at ABEV's 28.9 RSI reading today as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side. The chart below shows the one year performance of ABEV shares: Looking at the chart above, ABEV's low point in its 52 week range is $3.77 per share, with $5.45 as the 52 week high point — that compares with a last trade of $4.42. |
28286.0 | 2019-08-14 00:00:00 UTC | 10 Stocks Under $5 to Buy for Fall | ABEV | https://www.nasdaq.com/articles/10-stocks-under-%245-to-buy-for-fall-2019-08-14 | nan | nan | In most cases regarding equity investing, you want to stay with established names. Although cheap stocks to buy may tempt you psychologically – you get more shares for your buck – they’re usually not reliable over the long haul. On the other hand, blue chips, with a patient enough timeline, have consistently returned solid gains.
That said, on certain occasions and for risk-tolerant investors, cheap stocks do have a place in your portfolio. For instance, many lesser-capitalized companies fly under the radar. Thus, they might move in ways that don’t necessarily correlate with broader benchmark indices. In a bull market, that spells trouble. However, in uncertain times like these, cheap stocks to buy may offer an unexpected hedge.
Second, the most obvious appeal for cheap stocks are their price tags. If you look at your usual suspects in the S&P 500 or the Dow Jones, many of these equities have high paper values. And for some giants of industry like Amazon (NASDAQ:) or Alphabet (NASDAQ:GOOG, NASDAQ:), they feature four-figure prices. Psychologically, it’s more challenging to justify spending so much money for one share of a company.
Third, and on a related point, cheap stocks to buy are available for virtually all investors with a living wage. Sure, you can buy the aforementioned alpha dogs through brokerages specializing in . However, you’d have to go through a middle man, which may not make sense for some investors.
Finally, I think cheap stocks are fun. Because they don’t generate as much attention, they force you to do your own digging, which offers intrinsic value.
And if you don’t have any ideas of your own, here are my picks for cheap stocks to buy.
Ambev (ABEV)
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Stereotypically, most people associate cheap stocks to buy – especially those under $5 – with soon-to-be worthless companies. However, that’s not always the case, as beverage specialist Ambev (NYSE:) demonstrates. A Brazilian brewing company under the Anheuser Busch Inbev (NYSE:) umbrella, ABEV stock is a few cents shy of breaking above $5.
At this price point, ABEV stock is what most analysts would consider a penny stock. Still, I really like the value proposition here for two reasons. First, beverage experts predict that the Latin American beer market in which Ambev plies its trade will grow to nearly . Moreover, consumers in this region have developed a taste for premium beers, which suits ABEV stock well.
Second, Latin American demographics favor investments like ABEV stock. That’s because this region features the of young people anywhere in the world. It is true that many economic challenges exist there, however, we’re talking about beer, which isn’t exactly a massive outlay of cash.
Genworth Financial (GNW)
Genworth Financial (NYSE:) is a very interesting name among cheap stocks to buy for several reasons. As a former subsidiary of industrial conglomerate General Electric (NYSE:), GNW stock has some storied history. More importantly, Genworth is principally a mortgage insurer. With relative stability in the domestic economy, GNW seems like a solid bet for a penny stock.
But these are really side issues for the true reason to speculate on GNW stock. Almost three years ago, China Oceanwide Holdings announced their intent to buy out Genworth. But since then, the proposed deal has been extended multiple times pending regulatory approval.
In a bid to accelerate the process, Genworth recently for 2.4 billion CAD. That skyrocketed the GNW stock price as the markets saw the move as a strong positive.
That said, the deteriorating relationship between the U.S. and China is a problem. Thus, if you’re going to gamble, gamble moderately.
Kinross Gold (KGC)
Source: Shutterstock
As I alluded to earlier, cheap stocks to buy are usually that way for a reason. And while they’re superficially attractive, their fundamental problems tend to outweigh the positives over the long run. However, I’m reasonably confident that Kinross Gold (NYSE:) and KGC stock can prove to be that rare case where a cheap equity has a favorable risk-reward profile.
The best part about KGC stock is that I don’t really need to spend too much time arguing the bull case: geopolitical underpinnings do enough of that. As you’re all aware, the U.S.-China trade war recently took a turn for the worst. And probably in preparation for this diplomatic downgrade, the Federal Reserve cut benchmark interest rates.
Therefore, we have a situation where more money is chasing after fewer goods. That’s very positive for gold and silver bullion, which have been disappointing investments for years. Further, I believe the industry tailwinds are strong enough to overcome the individual challenges impacting KGC stock.
Lloyds Banking Group (LYG)
Source: Shutterstock
If we’re headed toward a correction in the markets, I’m not sure if I want to hold finance-related investments. That’s especially the case regarding cheap stocks in the financial industry. Nevertheless, I believe speculators should take a long look at Lloyds Banking Group (NYSE:). Even in times of turmoil and confusion, I think LYG stock has favorable tailwinds.
First, let’s talk about the obvious: LYG stock is one of the U.K.’s most storied investments. You think you own shares of an old company? Lloyds’ heritage goes back over 250 years. To put that into perspective, the U.S. wasn’t a thing back then. And although heritage is no guarantor of long-term viability, I don’t think the British would let Lloyds crumble.
Second, LYG stock is incredibly undervalued. Levering an enterprise value of $113 billion, its current price-earnings ratio is less than 10-times trailing earnings. Sure, business has not gone well for the U.K. over the years. However, the selloff seems a bit overbaked.
Hexo (HEXO)
Source: Shutterstock
One of my favorite marijuana-based cheap stocks to buy, Hexo (NYSE:) has incurred severe choppiness this year. And in my best attempt to catch a falling knife, I bought shares around mid-July. That did not serve me well, as Hexo stock veritably plunged, at one point dipping below $4.
Admittedly, holding Hexo stock has been a painful experience. But I genuinely believe that the legal marijuana sector will spark a radical paradigm shift in the markets. During this time, the extraordinary bullishness should lift all boats, including smaller outfits like Hexo.
And who knows? We might be witnessing this radical transformation as you read this. Currently, Hexo stock stands just a few pennies shy of $5. I don’t think it will take much to move the needle north.
Hexo has an attractive partnership with Molson Coors Brewing (NYSE:) to develop cannabis-infused drinks. This potentially gives the company an important foothold in the American cannabis market, where attitudes are .
Sibanye Gold (SBGL)
At time of writing, Sibanye Gold (NYSE:) is just a penny over $5. Technically, that disqualifies it from this list of cheap stocks to buy. However, I think most readers will agree with me that it’s close enough to warrant consideration. Furthermore, SBGL stock fundamentally offers something that many other mining investments do not.
First, let’s talk about why SBGL stock took a severe tumble. Sibanye operates mining projects in multiple parts of the world, including the volatile South African market. And unfortunately for stakeholders, a involving the underlying company’s Lonmin mine caused the volatility. While labor unions demand higher wages, Sibanye claims that doing so would make the project economically unsustainable.
Given how ugly these disputes can get, I can understand why people would avoid SBGL stock. However, because the precious metals market is rising sharply, there’s a chance that both sides can reach an agreement later.
Finally, Sibanye is one of the largest producers of palladium. This is one of the rarest metals on earth, and its spot price reflects it.
Atlantic Power (AT)
Source: Shutterstock
In most cases, buying utility companies like Atlantic Power (NYSE:) make sense for their stable passive income. After all, nothing drives people crazier in this digitalized economy than not having power. Thus, utility firms represent reliable investments. However, AT stock doesn’t quite fit the mold of this industry.
For one thing, there’s the fact that Atlantic Power doesn’t pay out a dividend. Thus, this is a purely capital gains-based play. While that might startle some investors, keep in mind that the AT stock price is only $2.40. Therefore, we have some room for growth.
Additionally, Atlantic Power has a very stable business. As an independent power producer, the company owns power generation assets in 10 states and two Canadian provinces. Furthermore, it usually does business with only large, creditworthy customers on .
Finally, AT stock is currently at a low point. Earlier this year, shares briefly exceeded the $3 level. Thus, speculators have a chance to grab a quick profit.
Blueknight Energy Partners (BKEP)
Source: Shutterstock
Due to the recent and rational decline in oil prices, investors may initially want to avoid Blueknight Energy Partners (NASDAQ:). Plus, the fact that it’s one of the cheapest of cheap stocks to buy doesn’t do it any favors. However, not all energy companies are built the same. Because of the variables involved, you may want to give BKEP stock a second chance.
Primarily, I say this because Blueknight’s main business is in midstream operations. Specifically, the company provides storage and processing services for crude oil products. This distinction separates BKEP stock from upstream and integrated energy companies in that Blueknight is less susceptible to price volatility. No matter what happens in the energy market, people still require energy to move around. Thus, midstream companies act as a critical pivot point toward the end delivery to the consumer.
Plus, BKEP stock has been rising steadily since the first half of this April. With a share price of a little over a buck, Blueknight is certainly a tempting opportunity.
XCel Brands (XELB)
Source: Shutterstock
Although I’m no expert, fashion is a brutal industry. Consumer trends can change on a dime. Therefore, a supply chain risk exists in that a product may arrive to the retail floor too late. But XCel Brands (NASDAQ:) would like to change investors’ perception of this sector.
First, what does XCel do? I must say that the company does a terrible job of explaining its own business. Fortunately, we have CNBC contributor Krystina Gustafson, who describes the organization as a like Zara or H&M, but geared toward upscale apparel and products.
More critically for XELB stock, XCel hopes to disrupt the fashion industry by cutting the time involved from getting concept products into retail stores. Typically, a fashion company will take several months from blueprinting to distribution. XCel has dropped this process down to six weeks.
You might think that’s a game-changer for the industry, and it just might be. However, the risk (and the opportunity) is that the markets don’t see it that way. Currently, XELB stock is trading hands for less than $2.
BioDelivery Sciences International (BDSI)
Source: Shutterstock
I believe that BioDelivery Sciences International (NASDAQ:) stock has a lot of potential if you’re willing to give it some patience. Also, it would help that you ignore the implications behind its sub-$5 price tag.
Let’s focus on the good news. BioDelivery Sciences has two main drugs in its pipeline: Belbuca and Bunavil. The former focuses on addressing chronic pain, which represents a major medical problem in the U.S. The latter addresses opioid dependence, which has rapidly escalated into a .
I’ll grant you that there’s something not right about a pharmaceutical company providing a solution to a pharmaceutical-based problem. However, I’m just going to look at this from a purely investment point of view. Demand for these two products, and especially for Bunavil, supports the speculative case for BDSI stock.
As of this writing, Josh Enomoto is long LYG stock, HEXO stock, gold, silver, and palladium.
The post appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | A Brazilian brewing company under the Anheuser Busch Inbev (NYSE:) umbrella, ABEV stock is a few cents shy of breaking above $5. Ambev (ABEV) Source: Stereotypically, most people associate cheap stocks to buy – especially those under $5 – with soon-to-be worthless companies. At this price point, ABEV stock is what most analysts would consider a penny stock. | Ambev (ABEV) Source: Stereotypically, most people associate cheap stocks to buy – especially those under $5 – with soon-to-be worthless companies. A Brazilian brewing company under the Anheuser Busch Inbev (NYSE:) umbrella, ABEV stock is a few cents shy of breaking above $5. At this price point, ABEV stock is what most analysts would consider a penny stock. | At this price point, ABEV stock is what most analysts would consider a penny stock. Ambev (ABEV) Source: Stereotypically, most people associate cheap stocks to buy – especially those under $5 – with soon-to-be worthless companies. A Brazilian brewing company under the Anheuser Busch Inbev (NYSE:) umbrella, ABEV stock is a few cents shy of breaking above $5. | Ambev (ABEV) Source: Stereotypically, most people associate cheap stocks to buy – especially those under $5 – with soon-to-be worthless companies. A Brazilian brewing company under the Anheuser Busch Inbev (NYSE:) umbrella, ABEV stock is a few cents shy of breaking above $5. At this price point, ABEV stock is what most analysts would consider a penny stock. |
28287.0 | 2019-03-06 00:00:00 UTC | Ambev Enters Oversold Territory (ABEV) | ABEV | https://www.nasdaq.com/articles/ambev-enters-oversold-territory-abev-2019-03-06 | nan | nan | Legendary investor Warren Buffett advises to be fearful when others are greedy, and be greedy when others are fearful. One way we can try to measure the level of fear in a given stock is through a technical analysis indicator called the Relative Strength Index, or RSI, which measures momentum on a scale of zero to 100. A stock is considered to be oversold if the RSI reading falls below 30.
In trading on Wednesday, shares of Ambev SA (Symbol: ABEV) entered into oversold territory, hitting an RSI reading of 28.9, after changing hands as low as $4.23 per share. By comparison, the current RSI reading of the S&P 500 ETF ( SPY ) is 61.5. A bullish investor could look at ABEV's 28.9 RSI reading today as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side. The chart below shows the one year performance of ABEV shares:
Looking at the chart above, ABEV's low point in its 52 week range is $3.77 per share, with $7.43 as the 52 week high point - that compares with a last trade of $4.23.
Find out what 9 other oversold stocks you need to know about »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In trading on Wednesday, shares of Ambev SA (Symbol: ABEV) entered into oversold territory, hitting an RSI reading of 28.9, after changing hands as low as $4.23 per share. A bullish investor could look at ABEV's 28.9 RSI reading today as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side. The chart below shows the one year performance of ABEV shares: Looking at the chart above, ABEV's low point in its 52 week range is $3.77 per share, with $7.43 as the 52 week high point - that compares with a last trade of $4.23. | The chart below shows the one year performance of ABEV shares: Looking at the chart above, ABEV's low point in its 52 week range is $3.77 per share, with $7.43 as the 52 week high point - that compares with a last trade of $4.23. In trading on Wednesday, shares of Ambev SA (Symbol: ABEV) entered into oversold territory, hitting an RSI reading of 28.9, after changing hands as low as $4.23 per share. A bullish investor could look at ABEV's 28.9 RSI reading today as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side. | In trading on Wednesday, shares of Ambev SA (Symbol: ABEV) entered into oversold territory, hitting an RSI reading of 28.9, after changing hands as low as $4.23 per share. The chart below shows the one year performance of ABEV shares: Looking at the chart above, ABEV's low point in its 52 week range is $3.77 per share, with $7.43 as the 52 week high point - that compares with a last trade of $4.23. A bullish investor could look at ABEV's 28.9 RSI reading today as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side. | In trading on Wednesday, shares of Ambev SA (Symbol: ABEV) entered into oversold territory, hitting an RSI reading of 28.9, after changing hands as low as $4.23 per share. A bullish investor could look at ABEV's 28.9 RSI reading today as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side. The chart below shows the one year performance of ABEV shares: Looking at the chart above, ABEV's low point in its 52 week range is $3.77 per share, with $7.43 as the 52 week high point - that compares with a last trade of $4.23. |
28288.0 | 2019-03-01 00:00:00 UTC | After Hours Most Active for Mar 1, 2019 : ABEV, GE, XOM, PFE, AR, TSM, SGMS, AAPL, SHY, MSFT, MCHI, INTC | ABEV | https://www.nasdaq.com/articles/after-hours-most-active-mar-1-2019-abev-ge-xom-pfe-ar-tsm-sgms-aapl-shy-msft-mchi-intc | nan | nan | The NASDAQ 100 After Hours Indicator is up 1.13 to 7,152.7. The total After hours volume is currently 52,106,687 shares traded.
The following are the most active stocks for the after hours session :
Ambev S.A. ( ABEV ) is unchanged at $4.39, with 4,087,584 shares traded. ABEV's current last sale is 95.43% of the target price of $4.6.
General Electric Company ( GE ) is unchanged at $10.27, with 2,066,832 shares traded. GE's current last sale is 85.58% of the target price of $12.
Exxon Mobil Corporation ( XOM ) is unchanged at $80.00, with 1,984,908 shares traded. XOM's current last sale is 95.24% of the target price of $84.
Pfizer, Inc. ( PFE ) is unchanged at $43.36, with 1,690,961 shares traded. PFE's current last sale is 96.36% of the target price of $45.
Antero Resources Corporation ( AR ) is unchanged at $9.15, with 1,605,310 shares traded. AR's current last sale is 57.19% of the target price of $16.
Taiwan Semiconductor Manufacturing Company Ltd. ( TSM ) is unchanged at $39.39, with 1,371,219 shares traded. As reported by Zacks, the current mean recommendation for TSM is in the "strong buy range".
Scientific Games Corp ( SGMS ) is -0.1 at $29.08, with 1,239,962 shares traded. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Sep 2019. The consensus EPS forecast is $0.07. As reported in the last short interest update the days to cover for SGMS is 8.971343; this calculation is based on the average trading volume of the stock.
Apple Inc. ( AAPL ) is +0.1 at $175.07, with 1,172,363 shares traded. AAPL's current last sale is 94.63% of the target price of $185.
iShares 1-3 Year Treasury Bond ETF ( SHY ) is -0.03 at $83.51, with 1,108,510 shares traded. This represents a .82% increase from its 52 Week Low.
Microsoft Corporation ( MSFT ) is -0.0298 at $112.50, with 971,166 shares traded. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Jun 2019. The consensus EPS forecast is $1.18. As reported by Zacks, the current mean recommendation for MSFT is in the "buy range".
iShares MSCI China ETF ( MCHI ) is +0.0943 at $61.30, with 887,376 shares traded. This represents a 21.51% increase from its 52 Week Low.
Intel Corporation ( INTC ) is -0.05 at $53.25, with 859,256 shares traded. INTC's current last sale is 96.82% of the target price of $55.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The following are the most active stocks for the after hours session : Ambev S.A. ( ABEV ) is unchanged at $4.39, with 4,087,584 shares traded. ABEV's current last sale is 95.43% of the target price of $4.6. As reported in the last short interest update the days to cover for SGMS is 8.971343; this calculation is based on the average trading volume of the stock. | The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. The following are the most active stocks for the after hours session : Ambev S.A. ( ABEV ) is unchanged at $4.39, with 4,087,584 shares traded. ABEV's current last sale is 95.43% of the target price of $4.6. | The following are the most active stocks for the after hours session : Ambev S.A. ( ABEV ) is unchanged at $4.39, with 4,087,584 shares traded. ABEV's current last sale is 95.43% of the target price of $4.6. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Sep 2019. | The following are the most active stocks for the after hours session : Ambev S.A. ( ABEV ) is unchanged at $4.39, with 4,087,584 shares traded. ABEV's current last sale is 95.43% of the target price of $4.6. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Sep 2019. |
28289.0 | 2019-02-28 00:00:00 UTC | Notable Two Hundred Day Moving Average Cross - ABEV | ABEV | https://www.nasdaq.com/articles/notable-two-hundred-day-moving-average-cross-abev-2019-02-28 | nan | nan | In trading on Thursday, shares of Ambev SA (Symbol: ABEV) crossed below their 200 day moving average of $4.68, changing hands as low as $4.56 per share. Ambev SA shares are currently trading off about 6.5% on the day. The chart below shows the one year performance of ABEV shares, versus its 200 day moving average:
Looking at the chart above, ABEV's low point in its 52 week range is $3.77 per share, with $7.43 as the 52 week high point - that compares with a last trade of $4.56.
Click here to find out which 9 other dividend stocks recently crossed below their 200 day moving average »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In trading on Thursday, shares of Ambev SA (Symbol: ABEV) crossed below their 200 day moving average of $4.68, changing hands as low as $4.56 per share. The chart below shows the one year performance of ABEV shares, versus its 200 day moving average: Looking at the chart above, ABEV's low point in its 52 week range is $3.77 per share, with $7.43 as the 52 week high point - that compares with a last trade of $4.56. Click here to find out which 9 other dividend stocks recently crossed below their 200 day moving average » The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In trading on Thursday, shares of Ambev SA (Symbol: ABEV) crossed below their 200 day moving average of $4.68, changing hands as low as $4.56 per share. The chart below shows the one year performance of ABEV shares, versus its 200 day moving average: Looking at the chart above, ABEV's low point in its 52 week range is $3.77 per share, with $7.43 as the 52 week high point - that compares with a last trade of $4.56. Click here to find out which 9 other dividend stocks recently crossed below their 200 day moving average » The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In trading on Thursday, shares of Ambev SA (Symbol: ABEV) crossed below their 200 day moving average of $4.68, changing hands as low as $4.56 per share. The chart below shows the one year performance of ABEV shares, versus its 200 day moving average: Looking at the chart above, ABEV's low point in its 52 week range is $3.77 per share, with $7.43 as the 52 week high point - that compares with a last trade of $4.56. Click here to find out which 9 other dividend stocks recently crossed below their 200 day moving average » The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In trading on Thursday, shares of Ambev SA (Symbol: ABEV) crossed below their 200 day moving average of $4.68, changing hands as low as $4.56 per share. The chart below shows the one year performance of ABEV shares, versus its 200 day moving average: Looking at the chart above, ABEV's low point in its 52 week range is $3.77 per share, with $7.43 as the 52 week high point - that compares with a last trade of $4.56. Click here to find out which 9 other dividend stocks recently crossed below their 200 day moving average » The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. |
28290.0 | 2019-02-28 00:00:00 UTC | After Hours Most Active for Feb 28, 2019 : CSCO, ZTO, ABEV, CMCSA, AAPL, MSFT, ATVI, BAC, VALE, KKR, SBUX, PFE | ABEV | https://www.nasdaq.com/articles/after-hours-most-active-feb-28-2019-csco-zto-abev-cmcsa-aapl-msft-atvi-bac-vale-kkr-sbux | nan | nan | The NASDAQ 100 After Hours Indicator is up 4.98 to 7,102.51. The total After hours volume is currently 125,549,524 shares traded.
The following are the most active stocks for the after hours session :
Cisco Systems, Inc. ( CSCO ) is +0.18 at $51.95, with 4,913,293 shares traded. Over the last four weeks they have had 5 up revisions for the earnings forecast, for the fiscal quarter ending Apr 2019. The consensus EPS forecast is $0.68. , following a 52-week high recorded in today's regular session.
ZTO Express (Cayman) Inc. ( ZTO ) is -0.18 at $19.70, with 4,638,186 shares traded. As reported by Zacks, the current mean recommendation for ZTO is in the "buy range".
Ambev S.A. ( ABEV ) is +0.01 at $4.54, with 4,326,377 shares traded. Seeking Alpha Reports: 27 'Safer' Dividend Consumer Defensive WallStar Stocks Declared To August 2019
Comcast Corporation ( CMCSA ) is +0.0031 at $38.67, with 4,314,475 shares traded. As reported by Zacks, the current mean recommendation for CMCSA is in the "buy range".
Apple Inc. ( AAPL ) is +0.05 at $173.20, with 4,006,732 shares traded. AAPL's current last sale is 93.62% of the target price of $185.
Microsoft Corporation ( MSFT ) is unchanged at $112.03, with 3,399,308 shares traded. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Jun 2019. The consensus EPS forecast is $1.18. As reported by Zacks, the current mean recommendation for MSFT is in the "buy range".
Activision Blizzard, Inc ( ATVI ) is +0.06 at $42.20, with 3,308,685 shares traded. As reported by Zacks, the current mean recommendation for ATVI is in the "buy range".
Bank of America Corporation ( BAC ) is +0.0501 at $29.13, with 3,036,337 shares traded. As reported by Zacks, the current mean recommendation for BAC is in the "buy range".
VALE S.A. ( VALE ) is -0.1044 at $12.38, with 2,983,669 shares traded. VALE's current last sale is 88.4% of the target price of $14.
KKR & Co. Inc. ( KKR ) is -0.0018 at $22.23, with 2,762,416 shares traded. Over the last four weeks they have had 4 up revisions for the earnings forecast, for the fiscal quarter ending Dec 2019. The consensus EPS forecast is $0.49. As reported by Zacks, the current mean recommendation for KKR is in the "buy range".
Starbucks Corporation ( SBUX ) is +0.11 at $70.37, with 2,576,627 shares traded. As reported by Zacks, the current mean recommendation for SBUX is in the "buy range".
Pfizer, Inc. ( PFE ) is +0.01 at $43.36, with 2,507,409 shares traded. PFE's current last sale is 96.36% of the target price of $45.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Ambev S.A. ( ABEV ) is +0.01 at $4.54, with 4,326,377 shares traded. The following are the most active stocks for the after hours session : Cisco Systems, Inc. ( CSCO ) is +0.18 at $51.95, with 4,913,293 shares traded. Over the last four weeks they have had 5 up revisions for the earnings forecast, for the fiscal quarter ending Apr 2019. | The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Ambev S.A. ( ABEV ) is +0.01 at $4.54, with 4,326,377 shares traded. Over the last four weeks they have had 5 up revisions for the earnings forecast, for the fiscal quarter ending Apr 2019. | Ambev S.A. ( ABEV ) is +0.01 at $4.54, with 4,326,377 shares traded. As reported by Zacks, the current mean recommendation for ZTO is in the "buy range". As reported by Zacks, the current mean recommendation for ATVI is in the "buy range". | Ambev S.A. ( ABEV ) is +0.01 at $4.54, with 4,326,377 shares traded. The NASDAQ 100 After Hours Indicator is up 4.98 to 7,102.51. The following are the most active stocks for the after hours session : Cisco Systems, Inc. ( CSCO ) is +0.18 at $51.95, with 4,913,293 shares traded. |
28291.0 | 2019-02-14 00:00:00 UTC | 3 Big Stock Charts for Thursday: Conagra Brands, Intel and Franklin Resources | ABEV | https://www.nasdaq.com/articles/3-big-stock-charts-for-thursday%3A-conagra-brands-intel-and-franklin-resources-2019-02-14 | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
It was a gain, but not a convincing one. Yesterday's 0.3% advance from the S&P 500 may have gotten it above the pivotal 200-day moving average line, but a huge chunk of the intraday move was ultimately given back, and the volume behind the gain was mediocre at best.
Still, baby steps in a bullish direction are still steps in the right direction.
General Electric (NYSE: GE ) did a great deal of the work, up 3.9% mostly in response to a $92 billion backlog for its power division. That's the arm that needs the most help and is best positioned for a turnaround.
At the other end of the spectrum, Teva Pharmaceutical (NYSE: TEVA ) and Ambev SA (NYSE: ABEV ) were a key part of the reason stocks struggled to make the collective gain they did. Ambev fell 2.4% mostly because traders remain unsure how they feel about the stagnant company, while Teva shares plunged 7.8% after the company conceded 2019 will be a "trough." Investors were hoping the pivot had already been made.
None of those names are especially great trading prospects headed into Thursday's session, however. Rather, stock charts of Intel (NASDAQ: INTC ), Franklin Resources (NYSE: BEN ) and Conagra Brands (NYSE: CAG ) are shaping up as the best bets. Here's why, and what needs to happen next.
Franklin Resources (BEN)
With nothing more than a quick glance at Franklin Resources, it just looks like a volatile mess. And, that may be all it is. A closer look at the daily chart, however, reveals there may be more underway here than it seems on the surface.
9 U.S. Stocks That Are Coming to Life Again
The stock is at a key tipping point after Wednesday's action, and the backdrop is surprisingly healthy.
Click to Enlarge • As of Wednesday's close, Franklin Resources is once again testing the white 200-day moving average again as resistance. The past couple of those tests have ended with a retreat, but it's telling that the buyers keep coming back.
• It's counterintuitive, but the volume surges that accompanied the last two major plunges are actually beneficial. They serve as a flushout, or capitulation, that cleared the decks for a new, net-bullish paradigm.
• Although the late-January low was the first higher low since mid-2017, the past two bullish efforts have been on tepid volume. More buyers will need to crawl out of the woodwork for a rally effort to be sustained.
Conagra Brands (CAG)
A little over a week ago, Conagra Brands was featured as a budding breakout candidate. In fact, it had just edged above a technical ceiling. The effort just needed to solidify a little bit more, to confirm it was for real.
It's for real. CAG is now up 6.5% since that look, and has put that resistance line in the rearview mirror. There's another ceiling dead ahead, however, that needs to be cleared before the next bullish leg can take shape. Conagra may need to peel back before forging any higher though.
Click to Enlarge • The next hurdle is the 50-day moving average line, plotted in purple on the daily stock chart. The buyers stepped back as that line came into view this week.
• Although CAG may need to fall back and develop a running start to punch through that technical ceiling, the weekly chart makes clear the stock is more than oversold enough to fuel a bounce.
• Should Conagra make good on its promise, the next most plausible target is around $28. That's where the first Fibonacci retracement line is, and where the gray 100-day moving average line is.
Intel (INTC)
Finally, Intel has been a name that's been dissected several times in recent weeks, as the stock has been working on rocking its way out of last year's pullback.
So far it hasn't happened. But, this week's bullishness has pushed INTC to the brink of moving all the way out of its recent technical confines. One more good day will get Intel up and over the final hurdle, unleashing a few months' worth of pent-up buying action.
Click to Enlarge • That final line in the sand is $50.80, plotted in yellow, where INTC has peaked several times since July.
• The trend paradigm has already shifted from a streak of lower lows to higher lows, which has pushed Intel shares above the pivotal 200-day moving average line, plotted in white.
• If a breakout move can take hold, the most plausible upside target is last June's peak around $57. That $7 span between the current price and that target is more or less the same-sized span from the low and high seen as Intel worked its way through a triangle shape beginning in late June. That's not coincidental. Stocks tend to move in familiar increments.
As of this writing, James Brumley did not hold a position in any of the aforementioned securities. You can learn more about James at his site, jamesbrumley.com , or follow him on Twitter , at @jbrumley.
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The post 3 Big Stock Charts for Thursday: Conagra Brands, Intel and Franklin Resources appeared first on InvestorPlace .
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | At the other end of the spectrum, Teva Pharmaceutical (NYSE: TEVA ) and Ambev SA (NYSE: ABEV ) were a key part of the reason stocks struggled to make the collective gain they did. General Electric (NYSE: GE ) did a great deal of the work, up 3.9% mostly in response to a $92 billion backlog for its power division. Click to Enlarge • The next hurdle is the 50-day moving average line, plotted in purple on the daily stock chart. | At the other end of the spectrum, Teva Pharmaceutical (NYSE: TEVA ) and Ambev SA (NYSE: ABEV ) were a key part of the reason stocks struggled to make the collective gain they did. Rather, stock charts of Intel (NASDAQ: INTC ), Franklin Resources (NYSE: BEN ) and Conagra Brands (NYSE: CAG ) are shaping up as the best bets. • The trend paradigm has already shifted from a streak of lower lows to higher lows, which has pushed Intel shares above the pivotal 200-day moving average line, plotted in white. | At the other end of the spectrum, Teva Pharmaceutical (NYSE: TEVA ) and Ambev SA (NYSE: ABEV ) were a key part of the reason stocks struggled to make the collective gain they did. Rather, stock charts of Intel (NASDAQ: INTC ), Franklin Resources (NYSE: BEN ) and Conagra Brands (NYSE: CAG ) are shaping up as the best bets. • The trend paradigm has already shifted from a streak of lower lows to higher lows, which has pushed Intel shares above the pivotal 200-day moving average line, plotted in white. | At the other end of the spectrum, Teva Pharmaceutical (NYSE: TEVA ) and Ambev SA (NYSE: ABEV ) were a key part of the reason stocks struggled to make the collective gain they did. Rather, stock charts of Intel (NASDAQ: INTC ), Franklin Resources (NYSE: BEN ) and Conagra Brands (NYSE: CAG ) are shaping up as the best bets. Click to Enlarge • The next hurdle is the 50-day moving average line, plotted in purple on the daily stock chart. |
28292.0 | 2019-02-12 00:00:00 UTC | 3 Big Stock Charts for Tuesday: Micron Technology, Citrix Systems and Vulcan Materials | ABEV | https://www.nasdaq.com/articles/3-big-stock-charts-for-tuesday%3A-micron-technology-citrix-systems-and-vulcan-materials-2019 | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
The market may have logged gains yesterday, following through on Friday's late recovery move. But, for a Monday, the follow-through was disappointing. The gain of 0.07% left the S&P 500 a bit below its intraday high, and the "up" volume behind the gain was alarmingly tepid for the first day back from the weekend.
General Electric (NYSE: GE ) and Ambev SA (NYSE: ABEV ) led the way, with 2.2% and 2.7%, respectively. Investors are still reasonably convinced GE stock has a decent future, while the latter continues to work on a turnaround effort that first took shape in late December. This is the most uninterrupted bullish progress seen since early 2018, and has carried shares back above the pivotal 200-day moving average line.
At the other end of the spectrum, Activision Blizzard (NASDAQ: ATVI ) and its peers kept the brakes on any marketwide rally effort. It looked like the selloff was finally winding down as January came to a close, but the sellers dug in again starting late last week as Tuesday's post-close earnings report looms.
As Tuesday's action kicks off, stock charts of Micron Technology (NASDAQ: MU ), Vulcan Materials Company (NYSE: VMC ) and Citrix Systems (NASDAQ: CTXS ) are the names to watch. Here's why, and what to know.
Citrix Systems (CTXS)
After Monday's action it would be easy to say Citrix Systems is stuck in a range, and not moving any particular direction.
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A closer look, however, reveals there's something of a method to the madness. Slowly but surely, the bears are chipping away, and a downtrend is already in development. A little more weakness could seal the deal, and drag shares below a huge - and relatively new - technical floor.
Click to Enlarge • On both stock charts, it's now clear that CTXS is moving into the end of a converging wedge pattern that will force traders to make a commitment.
• The stage is already set, however, for downside. The purple 50-day moving average line has already fallen below the white 200-day moving average line, and as of Monday Citrix shares are back below off of their key moving average lines.
• The lower boundary of the wedge pattern, currently just above $100, will possibly halt any downtrend. If it doesn't, though, there's little that could bring an end to a wave of profit-taking following last year's big runup.
Vulcan Materials Company (VMC)
The better part of the past several months have looked and felt nothing more than choppy for Vulcan Materials Company. But, as was the case with Citrix Systems, there's been something going on beneath the surface. The brewing bullishness has become clearer within the past few days.
There's just one more hurdle to clear before the budding rebound effort fully takes hold.
Click to Enlarge • Since November of last year, the gray 100-day moving average line had been holding Vulcan shares down. Last week, VMC moved above that line, and remained above that line when the sellers pushed back.
• The last line in the sand is $105.40, plotted in yellow on both stock charts. The bears have capped all the rally efforts since early January at that level.
• That's more likely to happen than not, however. There has been decidedly more (and above-average) buying volume than not over the course of the past couple of weeks. The Chaikin line move above zero in mid-January.
Micron Technology (MU)
Finally, a week ago we explored how Micron Technology shares were moving up and out of a long-standing funk , and had just cleared another key technical hurdle. Though impressive, and telling, we wanted to see the move survive a major test.
That's happened in the meantime. The sellers took a shot the next day, and continued to dig on. As of yesterday, though, the buyers took back control right where they were supposed to.
Click to Enlarge • The big line in the sand is plotted with a yellow dashed line on both stock charts, though the more detailed daily chart indicates there's a second, minor resistance line that's also been cleared.
• Although down on Monday, the selling stopped at the blue 20-day moving average line and the buyers started to wade back in to leave shares above the gray 100-day moving average line.
• The "clincher" here is now the next move higher, to confirm that Monday's bar was indeed a pivot back into an uptrend.
As of this writing, James Brumley did not hold a position in any of the aforementioned securities. You can learn more about James at his site, jamesbrumley.com , or follow him on Twitter , at @jbrumley.
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The post 3 Big Stock Charts for Tuesday: Micron Technology, Citrix Systems and Vulcan Materials appeared first on InvestorPlace .
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | General Electric (NYSE: GE ) and Ambev SA (NYSE: ABEV ) led the way, with 2.2% and 2.7%, respectively. Investors are still reasonably convinced GE stock has a decent future, while the latter continues to work on a turnaround effort that first took shape in late December. It looked like the selloff was finally winding down as January came to a close, but the sellers dug in again starting late last week as Tuesday's post-close earnings report looms. | General Electric (NYSE: GE ) and Ambev SA (NYSE: ABEV ) led the way, with 2.2% and 2.7%, respectively. As Tuesday's action kicks off, stock charts of Micron Technology (NASDAQ: MU ), Vulcan Materials Company (NYSE: VMC ) and Citrix Systems (NASDAQ: CTXS ) are the names to watch. • Although down on Monday, the selling stopped at the blue 20-day moving average line and the buyers started to wade back in to leave shares above the gray 100-day moving average line. | General Electric (NYSE: GE ) and Ambev SA (NYSE: ABEV ) led the way, with 2.2% and 2.7%, respectively. The purple 50-day moving average line has already fallen below the white 200-day moving average line, and as of Monday Citrix shares are back below off of their key moving average lines. • Although down on Monday, the selling stopped at the blue 20-day moving average line and the buyers started to wade back in to leave shares above the gray 100-day moving average line. | General Electric (NYSE: GE ) and Ambev SA (NYSE: ABEV ) led the way, with 2.2% and 2.7%, respectively. As Tuesday's action kicks off, stock charts of Micron Technology (NASDAQ: MU ), Vulcan Materials Company (NYSE: VMC ) and Citrix Systems (NASDAQ: CTXS ) are the names to watch. Last week, VMC moved above that line, and remained above that line when the sellers pushed back. |
28293.0 | 2019-02-07 00:00:00 UTC | Thursday Sector Leaders: REITs, Beverages & Wineries | ABEV | https://www.nasdaq.com/articles/thursday-sector-leaders-reits-beverages-wineries-2019-02-07 | nan | nan | In trading on Thursday, REITs shares were relative leaders, up on the day by about 0.2%. Leading the group were shares of Terreno Realty ( TRNO ), up about 5.8% and shares of Brookfield Property REIT ( BPR ) up about 4.9% on the day.
Also showing relative strength are beverages & wineries shares, up on the day by about 0.2% as a group, led by Boston Beer ( SAM ), trading higher by about 3.4% and Ambev ( ABEV ), trading higher by about 2.1% on Thursday.
VIDEO: Thursday Sector Leaders: REITs, Beverages & Wineries
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Also showing relative strength are beverages & wineries shares, up on the day by about 0.2% as a group, led by Boston Beer ( SAM ), trading higher by about 3.4% and Ambev ( ABEV ), trading higher by about 2.1% on Thursday. In trading on Thursday, REITs shares were relative leaders, up on the day by about 0.2%. VIDEO: Thursday Sector Leaders: REITs, Beverages & Wineries The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Also showing relative strength are beverages & wineries shares, up on the day by about 0.2% as a group, led by Boston Beer ( SAM ), trading higher by about 3.4% and Ambev ( ABEV ), trading higher by about 2.1% on Thursday. In trading on Thursday, REITs shares were relative leaders, up on the day by about 0.2%. VIDEO: Thursday Sector Leaders: REITs, Beverages & Wineries The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Also showing relative strength are beverages & wineries shares, up on the day by about 0.2% as a group, led by Boston Beer ( SAM ), trading higher by about 3.4% and Ambev ( ABEV ), trading higher by about 2.1% on Thursday. VIDEO: Thursday Sector Leaders: REITs, Beverages & Wineries The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Also showing relative strength are beverages & wineries shares, up on the day by about 0.2% as a group, led by Boston Beer ( SAM ), trading higher by about 3.4% and Ambev ( ABEV ), trading higher by about 2.1% on Thursday. In trading on Thursday, REITs shares were relative leaders, up on the day by about 0.2%. Leading the group were shares of Terreno Realty ( TRNO ), up about 5.8% and shares of Brookfield Property REIT ( BPR ) up about 4.9% on the day. |
28294.0 | 2019-01-29 00:00:00 UTC | After Hours Most Active for Jan 29, 2019 : ABEV, FCX, PFE, ITUB, PG, TVPT | ABEV | https://www.nasdaq.com/articles/after-hours-most-active-jan-29-2019-abev-fcx-pfe-itub-pg-tvpt-2019-01-29 | nan | nan | The NASDAQ 100 After Hours Indicator is up 28.33 to 6,661.12. The total After hours volume is currently 53,643,539 shares traded.
The following are the most active stocks for the after hours session :
Ambev S.A. ( ABEV ) is -0.0034 at $4.75, with 4,074,856 shares traded. ABEV's current last sale is 103.19% of the target price of $4.6.
Freeport-McMoran, Inc. ( FCX ) is unchanged at $10.45, with 3,050,609 shares traded. FCX's current last sale is 74.64% of the target price of $14.
Pfizer, Inc. ( PFE ) is +0.03 at $40.80, with 2,217,166 shares traded. Reuters Reports: Pfizer quarterly profit in line, touts pipeline of future products
Itau Unibanco Banco Holding SA ( ITUB ) is unchanged at $10.17, with 2,022,343 shares traded.ITUB is scheduled to provide an earnings report on 2/4/2019, for the fiscal quarter ending Dec2018. The consensus earnings per share forecast is 0.18 per share, which represents a 17 percent increase over the EPS one Year Ago
Procter & Gamble Company (The) ( PG ) is -0.23 at $93.31, with 1,744,316 shares traded. Over the last four weeks they have had 5 up revisions for the earnings forecast, for the fiscal quarter ending Jun 2019. The consensus EPS forecast is $1.04. PG's current last sale is 98.22% of the target price of $95.
Travelport Worldwide Limited ( TVPT ) is unchanged at $15.92, with 1,589,327 shares traded. TVPT's current last sale is 100.28% of the target price of $15.875.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The following are the most active stocks for the after hours session : Ambev S.A. ( ABEV ) is -0.0034 at $4.75, with 4,074,856 shares traded. ABEV's current last sale is 103.19% of the target price of $4.6. Reuters Reports: Pfizer quarterly profit in line, touts pipeline of future products Itau Unibanco Banco Holding SA ( ITUB ) is unchanged at $10.17, with 2,022,343 shares traded.ITUB is scheduled to provide an earnings report on 2/4/2019, for the fiscal quarter ending Dec2018. | The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. The following are the most active stocks for the after hours session : Ambev S.A. ( ABEV ) is -0.0034 at $4.75, with 4,074,856 shares traded. ABEV's current last sale is 103.19% of the target price of $4.6. | The following are the most active stocks for the after hours session : Ambev S.A. ( ABEV ) is -0.0034 at $4.75, with 4,074,856 shares traded. ABEV's current last sale is 103.19% of the target price of $4.6. Reuters Reports: Pfizer quarterly profit in line, touts pipeline of future products Itau Unibanco Banco Holding SA ( ITUB ) is unchanged at $10.17, with 2,022,343 shares traded.ITUB is scheduled to provide an earnings report on 2/4/2019, for the fiscal quarter ending Dec2018. | The following are the most active stocks for the after hours session : Ambev S.A. ( ABEV ) is -0.0034 at $4.75, with 4,074,856 shares traded. ABEV's current last sale is 103.19% of the target price of $4.6. The NASDAQ 100 After Hours Indicator is up 28.33 to 6,661.12. |
28295.0 | 2019-01-25 00:00:00 UTC | Colgate (CL) Q4 Earnings Beat, Soft 2019 View Hurts Stock | ABEV | https://www.nasdaq.com/articles/colgate-cl-q4-earnings-beat-soft-2019-view-hurts-stock-2019-01-25 | nan | nan | Colgate-Palmolive CompanyCL delivered better-than-expected top and bottom-line results for fourth-quarter 2018. However, earnings and sales dipped year over year. Unfavorable foreign currency mainly impacted the company's results. Nonetheless, organic sales benefited from favorable pricing.
Though the company outlined an optimistic view for net sales and organic sales, its earnings per share forecast for 2019 was disappointing. Consequently, shares of Colgate declined 2.4% in the pre-market trading session. Moreover, this Zacks Rank #3 (Hold) stock has lost 15.4% in the past year against the industry 's growth of 0.7%.
Adjusted earnings of 74 cents per share in fourth-quarter 2018 dropped 1% from the prior-year quarter number. However, earnings topped the Zacks Consensus Estimate of 73 cents. Including one-time items, earnings were 70 cents per share compared with 37 cents reported in the year-ago period.
Colgate-Palmolive Company Price, Consensus and EPS Surprise
Colgate-Palmolive Company Price, Consensus and EPS Surprise | Colgate-Palmolive Company Quote
Total sales of $3,811 million dipped 2% from the year-ago period but beat the Zacks Consensus Estimate of $3,774 million. The year-over-year decline was mainly driven by negative currency impact of 5%. However, this was somewhat offset by 0.5% growth in global unit volume and 2.5% rise in pricing.
During the reported quarter, Colgate's sales and unit-volume growth benefited from 1% contribution from the recently acquired professional skin care business. On an organic basis, the company's sales improved 2%.
Deeper Insight
Adjusted gross profit margin of 59.4% contracted 100 basis points (bps) from the prior-year quarter due to increased raw and packaging material expenses. However, this was partly offset by higher pricing and gains from cost savings under the funding-the-growth program.
In the reported quarter, adjusted operating profit of $936 million fell 10% while the adjusted operating margin contracted 210 bps to 24.6%. Operating margin was primarily impacted by lower gross margin, coupled with a 70 bps increase in adjusted selling, general & administrative expenses, as a percentage of sales.
Year to date, Colgate's market share of manual toothbrushes has reached 32.3%. Further, the company has continued with its leadership in the global toothpaste market, with 42% market share year to date.
Segmental Discussion
North America 's net sales (22% of total sales) improved 5%, reflecting 3% rise in unit volume and 2.5% increase in pricing, offset by currency headwinds of 0.5%. On an organic basis, sales increased 0.5% while unit volume declined 2%.
Latin America 's net sales (23% of total sales) slipped 9% year over year due to 3.5% decrease in unit volume and negative currency impact of 10%. This was partly negated by 4.5% increase in pricing. During the quarter under review, soft volumes in Brazil and Argentina were partly compensated by volume growth Mexico. On an organic basis, sales were up 1%.
Europe 's net sales (16% of total sales) dropped 2.5% year over year due to 1% decline in pricing and 3.5% unfavorable currency exchange, somewhat mitigated by unit volume increase of 2%. Unit volume gained from strength in the U.K. and France. Further, organic sales in Europe rose 1%.
The Asia Pacific 's net sales (16% of total sales) declined 6.5%, attributable to 0.5% decline in both unit volume and pricing as well as 5.5% unfavorable currency exchange. Lower volume in Greater China was somewhat compensated with volume growth in India and Australia. On an organic basis, sales for the Asia Pacific declined 1%.
Africa/Eurasia net sales (6% of total sales) fell 5% year over year, owing to 9% impact from unfavorable currency exchange and 3.5% decline in unit volume. These were offset by 7.5% rise in pricing. Lower volumes in Turkey and South Africa were partly negated by gains in the Gulf States. Organic sales for Africa/Eurasia improved 4%.
Hill's Pet Nutrition net sales (17% of total sales) rose 6% from the year-ago quarter. Results gained from 3.5% increase in unit volume and 4.5% rise in pricing, offset by 2% negative impact from currency. Volume growth in the United States and Western Europe were negated by the decline in Russia. On an organic basis, sales escalated 8%.
Other Financial Details
Colgate ended 2018 with cash and cash equivalents of $726 million, and total debt of $6,366 million. Net cash provided by operating activities was $3,056 million as of Dec 31, 2018.
Outlook
Going into 2019, Colgate expects strong top-line gains, backed by accelerated investments in its brands, higher pricing and strong innovation. The company's innovation efforts will be marked by the re-launch of Colgate Total and Hill's Science Diet as well as expansion of its naturals range.
Driven by these positives, the company expects of flat to up low-single digit in 2019, on current spot rates. Moreover, it estimates organic sales growth of 2-4% for 2019.
Further, the company plans to expand the portfolio by introducing brands like elmex and meridol to newer markets, and extending its e-commerce offerings. It is also likely to increase investments in professional skin care businesses - Elta MD and PCA Skin.
As a result, the company expects gross margin expansion in 2019, both on a GAAP and adjusted basis. On a GAAP basis, earnings per share for 2019 are likely to decline in a low-single digit. Meanwhile, adjusted earnings per share are expected to decline in a mid-single digit. Earnings per share projections are based on higher raw material costs, increase in tax rate, and uncertainties related to the global economy, currency rates and pricing.
Better-Ranked Stocks in the Consumer Staples Sector
The Procter & Gamble Company PG has average long-term earnings growth rate of nearly 7%. The company currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here .
Church & Dwight Co. Inc. CHD , also a Zacks Rank #2 stock, has an impressive long-term earnings growth rate of 10.2%.
Ambev S.A. ABEV has a long-term earnings growth rate of 10% and a Zacks Rank #2 at present.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Ambev S.A. ABEV has a long-term earnings growth rate of 10% and a Zacks Rank #2 at present. Click to get this free report Ambev S.A. (ABEV): Free Stock Analysis Report Church & Dwight Co., Inc. (CHD): Get Free Report Colgate-Palmolive Company (CL): Get Free Report Procter & Gamble Company (The) (PG): Get Free Report To read this article on Zacks.com click here. During the reported quarter, Colgate's sales and unit-volume growth benefited from 1% contribution from the recently acquired professional skin care business. | Click to get this free report Ambev S.A. (ABEV): Free Stock Analysis Report Church & Dwight Co., Inc. (CHD): Get Free Report Colgate-Palmolive Company (CL): Get Free Report Procter & Gamble Company (The) (PG): Get Free Report To read this article on Zacks.com click here. Ambev S.A. ABEV has a long-term earnings growth rate of 10% and a Zacks Rank #2 at present. Colgate-Palmolive Company Price, Consensus and EPS Surprise Colgate-Palmolive Company Price, Consensus and EPS Surprise | Colgate-Palmolive Company Quote Total sales of $3,811 million dipped 2% from the year-ago period but beat the Zacks Consensus Estimate of $3,774 million. | Ambev S.A. ABEV has a long-term earnings growth rate of 10% and a Zacks Rank #2 at present. Click to get this free report Ambev S.A. (ABEV): Free Stock Analysis Report Church & Dwight Co., Inc. (CHD): Get Free Report Colgate-Palmolive Company (CL): Get Free Report Procter & Gamble Company (The) (PG): Get Free Report To read this article on Zacks.com click here. Colgate-Palmolive Company Price, Consensus and EPS Surprise Colgate-Palmolive Company Price, Consensus and EPS Surprise | Colgate-Palmolive Company Quote Total sales of $3,811 million dipped 2% from the year-ago period but beat the Zacks Consensus Estimate of $3,774 million. | Ambev S.A. ABEV has a long-term earnings growth rate of 10% and a Zacks Rank #2 at present. Click to get this free report Ambev S.A. (ABEV): Free Stock Analysis Report Church & Dwight Co., Inc. (CHD): Get Free Report Colgate-Palmolive Company (CL): Get Free Report Procter & Gamble Company (The) (PG): Get Free Report To read this article on Zacks.com click here. Though the company outlined an optimistic view for net sales and organic sales, its earnings per share forecast for 2019 was disappointing. |
28296.0 | 2019-01-24 00:00:00 UTC | Expansion & Innovation to Aid Diageo's (DEO) 1H19 Earnings | ABEV | https://www.nasdaq.com/articles/expansion-innovation-to-aid-diageos-deo-1h19-earnings-2019-01-24 | nan | nan | Diageo PlcDEO is scheduled to release interim results for the first half of fiscal 2019 on Jan 31. The company is witnessing momentum, owing to its strong fundamentals, continuous innovation and focus on expansion. These factors are likely to aid the company's earnings for the first half of fiscal 2019.
Notably, this alcoholic beverage company, which reports on a half-yearly basis, posted strong results for fiscal 2018. It recorded earnings growth of 9.3% in fiscal 2018, with 0.9% improvement in sales.
Innovation and Expansion to Aid Earnings
Diageo explores opportunities to expand geographically through acquisitions. This, along with innovation efforts, fueled Diageo's results in fiscal 2018, wherein both sales and earnings improved year over year. While the bottom line gained from higher organic operating profit and reduced finance costs, the top line was driven by broad-based growth across all regions and categories, except for vodka.
Moreover, the company is witnessing improved operating margins, thanks to increased productivity savings in overheads and lower related costs. It expects synergies from productivity initiatives to continue in fiscal 2019 as well. Driven by the company's productivity program, Diageo expects to deliver on its targeted operating margin expansion of 175 basis points for the three years ending Jun 30, 2019. Furthermore, it expects organic net sales growth in the mid-single-digit range for fiscal 2019.
Additionally, the company's strong results reflect its strategy of exploring opportunities to expand through acquisitions. It is focused on penetrating the emerging markets of Africa, Latin America and Asia, and bolstering presence by catering to the local tastes of these regions. This is significantly aiding volume growth for the company, resulting in the robust top line.
Backed by these positives, Diageo stock has outpaced the industry in the past three months. Notably, this Zacks Rank #3 (Hold) stock gained 4.6% against the industry 's decline of 2.2%.
However, exchange rate fluctuations remain a cause of concern for the company. Fluctuations in the U.S. Dollar, Turkish lira and other emerging market currencies mostly marred its sales and operating profit in fiscal 2018. Based on current rates, the company expects currency headwinds to impact net sales and operating profit in fiscal 2019 by nearly £70 million and £10 million, respectively.
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Some better-ranked stocks are Archer Daniels Midland Company ADM , currently sporting a Zacks Rank #1 (Strong Buy), and Ambev S.A. ABEV and Monster Beverage Corporation MNST , carrying a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank stocks here .
Archer Daniels delivered average positive earnings surprise of 26.9% in the trailing four quarters. Further, the stock has gained 1.9% in the past year.
Ambev has advanced 12.4% in the past three months. The stock has a long-term growth rate of 10%.
Monster Beverage, with long-term earnings per share growth rate of 16%, has rallied 15.1% in the past month.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Check These Some better-ranked stocks are Archer Daniels Midland Company ADM , currently sporting a Zacks Rank #1 (Strong Buy), and Ambev S.A. ABEV and Monster Beverage Corporation MNST , carrying a Zacks Rank #2 (Buy). Click to get this free report Diageo plc (DEO): Get Free Report Ambev S.A. (ABEV): Get Free Report Monster Beverage Corporation (MNST): Free Stock Analysis Report Archer Daniels Midland Company (ADM): Free Stock Analysis Report To read this article on Zacks.com click here. Driven by the company's productivity program, Diageo expects to deliver on its targeted operating margin expansion of 175 basis points for the three years ending Jun 30, 2019. | Check These Some better-ranked stocks are Archer Daniels Midland Company ADM , currently sporting a Zacks Rank #1 (Strong Buy), and Ambev S.A. ABEV and Monster Beverage Corporation MNST , carrying a Zacks Rank #2 (Buy). Click to get this free report Diageo plc (DEO): Get Free Report Ambev S.A. (ABEV): Get Free Report Monster Beverage Corporation (MNST): Free Stock Analysis Report Archer Daniels Midland Company (ADM): Free Stock Analysis Report To read this article on Zacks.com click here. Based on current rates, the company expects currency headwinds to impact net sales and operating profit in fiscal 2019 by nearly £70 million and £10 million, respectively. | Check These Some better-ranked stocks are Archer Daniels Midland Company ADM , currently sporting a Zacks Rank #1 (Strong Buy), and Ambev S.A. ABEV and Monster Beverage Corporation MNST , carrying a Zacks Rank #2 (Buy). Click to get this free report Diageo plc (DEO): Get Free Report Ambev S.A. (ABEV): Get Free Report Monster Beverage Corporation (MNST): Free Stock Analysis Report Archer Daniels Midland Company (ADM): Free Stock Analysis Report To read this article on Zacks.com click here. This, along with innovation efforts, fueled Diageo's results in fiscal 2018, wherein both sales and earnings improved year over year. | Check These Some better-ranked stocks are Archer Daniels Midland Company ADM , currently sporting a Zacks Rank #1 (Strong Buy), and Ambev S.A. ABEV and Monster Beverage Corporation MNST , carrying a Zacks Rank #2 (Buy). Click to get this free report Diageo plc (DEO): Get Free Report Ambev S.A. (ABEV): Get Free Report Monster Beverage Corporation (MNST): Free Stock Analysis Report Archer Daniels Midland Company (ADM): Free Stock Analysis Report To read this article on Zacks.com click here. This, along with innovation efforts, fueled Diageo's results in fiscal 2018, wherein both sales and earnings improved year over year. |
28297.0 | 2019-01-15 00:00:00 UTC | Pre-Market Most Active for Jan 15, 2019 : PCG, ACB, CGC, ARR, JPM, ABEV, SQQQ, AMD, QQQ, TLRY, TVIX, TQQQ | ABEV | https://www.nasdaq.com/articles/pre-market-most-active-jan-15-2019-pcg-acb-cgc-arr-jpm-abev-sqqq-amd-qqq-tlry-tvix-tqqq | nan | nan | The NASDAQ 100 Pre-Market Indicator is up 17.76 to 6,558.8. The total Pre-Market volume is currently 2,790,437 shares traded.
The following are the most active stocks for the pre-market session :
Pacific Gas & Electric Co. ( PCG ) is -0.74 at $7.64, with 667,821 shares traded., following a 52-week high recorded in prior regular session.
Aurora Cannabis Inc. ( ACB ) is +0.32 at $7.10, with 645,248 shares traded.
Canopy Growth Corporation ( CGC ) is +1.01 at $43.50, with 504,589 shares traded. As reported by Zacks, the current mean recommendation for CGC is in the "buy range".
ARMOUR Residential REIT, Inc. ( ARR ) is -0.59 at $20.45, with 475,342 shares traded. ARR's current last sale is 92.95% of the target price of $22.
J P Morgan Chase & Co ( JPM ) is -2.64 at $98.30, with 433,014 shares traded. Reuters Reports: US STOCKS-Futures flat as weak JPMorgan results offset China stimulus boost
Ambev S.A. ( ABEV ) is +0.04 at $4.71, with 360,732 shares traded. ABEV's current last sale is 102.39% of the target price of $4.6.
ProShares UltraPro Short QQQ ( SQQQ ) is -0.14 at $14.77, with 349,668 shares traded. This represents a 36.38% increase from its 52 Week Low.
Advanced Micro Devices, Inc. ( AMD ) is +0.13 at $20.36, with 276,636 shares traded. AMD's current last sale is 75.41% of the target price of $27.
Invesco QQQ Trust, Series 1 ( QQQ ) is +0.48 at $159.75, with 230,130 shares traded. This represents a 11.36% increase from its 52 Week Low.
Tilray, Inc. ( TLRY ) is -3.15 at $97.00, with 154,090 shares traded. As reported by Zacks, the current mean recommendation for TLRY is in the "buy range".
Credit Suisse AG ( TVIX ) is +0.04 at $49.78, with 131,078 shares traded. This represents a 101.21% increase from its 52 Week Low.
ProShares UltraPro QQQ ( TQQQ ) is +0.34 at $40.75, with 127,478 shares traded. This represents a 34.4% increase from its 52 Week Low.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Reuters Reports: US STOCKS-Futures flat as weak JPMorgan results offset China stimulus boost Ambev S.A. ( ABEV ) is +0.04 at $4.71, with 360,732 shares traded. ABEV's current last sale is 102.39% of the target price of $4.6. As reported by Zacks, the current mean recommendation for CGC is in the "buy range". | The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Reuters Reports: US STOCKS-Futures flat as weak JPMorgan results offset China stimulus boost Ambev S.A. ( ABEV ) is +0.04 at $4.71, with 360,732 shares traded. ABEV's current last sale is 102.39% of the target price of $4.6. | Reuters Reports: US STOCKS-Futures flat as weak JPMorgan results offset China stimulus boost Ambev S.A. ( ABEV ) is +0.04 at $4.71, with 360,732 shares traded. ABEV's current last sale is 102.39% of the target price of $4.6. ProShares UltraPro Short QQQ ( SQQQ ) is -0.14 at $14.77, with 349,668 shares traded. | ABEV's current last sale is 102.39% of the target price of $4.6. Reuters Reports: US STOCKS-Futures flat as weak JPMorgan results offset China stimulus boost Ambev S.A. ( ABEV ) is +0.04 at $4.71, with 360,732 shares traded. The NASDAQ 100 Pre-Market Indicator is up 17.76 to 6,558.8. |
28298.0 | 2019-01-11 00:00:00 UTC | Pre-Market Most Active for Jan 11, 2019 : ABEV, FTK, APHA, SQQQ, TLRY, TAK, AMD, QQQ, ACB, NFLX, CHK, TQQQ | ABEV | https://www.nasdaq.com/articles/pre-market-most-active-jan-11-2019-abev-ftk-apha-sqqq-tlry-tak-amd-qqq-acb-nflx-chk-tqqq | nan | nan | The NASDAQ 100 Pre-Market Indicator is down -18.18 to 6,602.76. The total Pre-Market volume is currently 3,610,249 shares traded.
The following are the most active stocks for the pre-market session :
Ambev S.A. ( ABEV ) is +0.01 at $4.51, with 2,133,273 shares traded. ABEV's current last sale is 98.04% of the target price of $4.6.
Flotek Industries, Inc. ( FTK ) is +1.17 at $2.58, with 860,871 shares traded.
Aphria Inc. ( APHA ) is -0.33 at $6.25, with 763,978 shares traded.
ProShares UltraPro Short QQQ ( SQQQ ) is +0.25 at $14.59, with 433,115 shares traded. This represents a 34.72% increase from its 52 Week Low.
Tilray, Inc. ( TLRY ) is +14.33 at $94.73, with 399,376 shares traded. As reported by Zacks, the current mean recommendation for TLRY is in the "buy range".
Takeda Pharmaceutical Company Limited ( TAK ) is +0.97 at $20.10, with 371,721 shares traded. As reported by Zacks, the current mean recommendation for TAK is in the "strong buy range".
Advanced Micro Devices, Inc. ( AMD ) is -0.2 at $19.54, with 349,378 shares traded. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Dec 2019. The consensus EPS forecast is $0.19. AMD's current last sale is 72.37% of the target price of $27.
Invesco QQQ Trust, Series 1 ( QQQ ) is -0.88 at $160.40, with 302,476 shares traded. This represents a 11.81% increase from its 52 Week Low.
Aurora Cannabis Inc. ( ACB ) is -0.1 at $5.84, with 299,439 shares traded.
Netflix, Inc. ( NFLX ) is +5.96 at $330.62, with 233,969 shares traded.NFLX is scheduled to provide an earnings report on 1/17/2019, for the fiscal quarter ending Dec2018. The consensus earnings per share forecast is 0.25 per share, which represents a 41 percent increase over the EPS one Year Ago
Chesapeake Energy Corporation ( CHK ) is -0.02 at $2.71, with 211,367 shares traded. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Dec 2018. The consensus EPS forecast is $0.16. CHK's current last sale is 90.33% of the target price of $3.
ProShares UltraPro QQQ ( TQQQ ) is -0.72 at $41.27, with 154,388 shares traded. This represents a 36.11% increase from its 52 Week Low.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The following are the most active stocks for the pre-market session : Ambev S.A. ( ABEV ) is +0.01 at $4.51, with 2,133,273 shares traded. ABEV's current last sale is 98.04% of the target price of $4.6. As reported by Zacks, the current mean recommendation for TAK is in the "strong buy range". | The following are the most active stocks for the pre-market session : Ambev S.A. ( ABEV ) is +0.01 at $4.51, with 2,133,273 shares traded. ABEV's current last sale is 98.04% of the target price of $4.6. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Dec 2019. | The following are the most active stocks for the pre-market session : Ambev S.A. ( ABEV ) is +0.01 at $4.51, with 2,133,273 shares traded. ABEV's current last sale is 98.04% of the target price of $4.6. Invesco QQQ Trust, Series 1 ( QQQ ) is -0.88 at $160.40, with 302,476 shares traded. | The following are the most active stocks for the pre-market session : Ambev S.A. ( ABEV ) is +0.01 at $4.51, with 2,133,273 shares traded. ABEV's current last sale is 98.04% of the target price of $4.6. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Dec 2019. |
28299.0 | 2019-01-08 00:00:00 UTC | Tuesday's ETF with Unusual Volume: KXI | ABEV | https://www.nasdaq.com/articles/tuesdays-etf-unusual-volume-kxi-2019-01-08 | nan | nan | The iShares Global Consumer Staples ETF ( KXI ) is seeing unusually high volume in afternoon trading Tuesday, with over 1.8 million shares traded versus three month average volume of about 77,000. Shares of KXI were up about 0.3% on the day.
Components of that ETF with the highest volume on Tuesday were Ambev ( ABEV ), trading down about 0.5% with over 15.6 million shares changing hands so far this session, and Coca-Cola ( KO ), up about 0.8% on volume of over 7.9 million shares. Monster Beverage ( MNST ) is the component faring the best Tuesday, higher by about 6.2% on the day, while Conagra Brands ( CAG ) is lagging other components of the iShares Global Consumer Staples ETF, trading lower by about 3.3%.
VIDEO: Tuesday's ETF with Unusual Volume: KXI
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Components of that ETF with the highest volume on Tuesday were Ambev ( ABEV ), trading down about 0.5% with over 15.6 million shares changing hands so far this session, and Coca-Cola ( KO ), up about 0.8% on volume of over 7.9 million shares. The iShares Global Consumer Staples ETF ( KXI ) is seeing unusually high volume in afternoon trading Tuesday, with over 1.8 million shares traded versus three month average volume of about 77,000. Monster Beverage ( MNST ) is the component faring the best Tuesday, higher by about 6.2% on the day, while Conagra Brands ( CAG ) is lagging other components of the iShares Global Consumer Staples ETF, trading lower by about 3.3%. | Components of that ETF with the highest volume on Tuesday were Ambev ( ABEV ), trading down about 0.5% with over 15.6 million shares changing hands so far this session, and Coca-Cola ( KO ), up about 0.8% on volume of over 7.9 million shares. The iShares Global Consumer Staples ETF ( KXI ) is seeing unusually high volume in afternoon trading Tuesday, with over 1.8 million shares traded versus three month average volume of about 77,000. Monster Beverage ( MNST ) is the component faring the best Tuesday, higher by about 6.2% on the day, while Conagra Brands ( CAG ) is lagging other components of the iShares Global Consumer Staples ETF, trading lower by about 3.3%. | Components of that ETF with the highest volume on Tuesday were Ambev ( ABEV ), trading down about 0.5% with over 15.6 million shares changing hands so far this session, and Coca-Cola ( KO ), up about 0.8% on volume of over 7.9 million shares. The iShares Global Consumer Staples ETF ( KXI ) is seeing unusually high volume in afternoon trading Tuesday, with over 1.8 million shares traded versus three month average volume of about 77,000. VIDEO: Tuesday's ETF with Unusual Volume: KXI The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Components of that ETF with the highest volume on Tuesday were Ambev ( ABEV ), trading down about 0.5% with over 15.6 million shares changing hands so far this session, and Coca-Cola ( KO ), up about 0.8% on volume of over 7.9 million shares. The iShares Global Consumer Staples ETF ( KXI ) is seeing unusually high volume in afternoon trading Tuesday, with over 1.8 million shares traded versus three month average volume of about 77,000. Shares of KXI were up about 0.3% on the day. |
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