Companhia Brasileira de Distribuicao (NYSE:CBD) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.
According to Zacks, “Companhia Brasileira has surpassed the industry in a year, backed by continued market share gains at its Assai and Multivarejo segments. These gains, along with continued volume and traffic strength at Assai, improved volumes of Pao de Acucar and consistent recovery at Extra Hiper helped the company post solid third-quarter 2017 results. Despite food deflation, sales grew 8.1%, with Assai witnessing its strongest quarter of combined volume and traffic growth. The company is also gaining from its store expansions, renovations and conversions of Extra Hipe outlets. Also, constant investments in profitable areas keeps management confident of achieving further market share gains. However, the company's home appliances category remains prone to tough macroeconomic conditions in Brazil, like high unemployment and soft consumer spending. Also, stiff competition remains a theat to this consumer-driven company.”
CBD has been the topic of a number of other research reports. UBS Group upgraded shares of Companhia Brasileira de Distribuicao from a “market perform” rating to an “outperform” rating in a research note on Tuesday, November 21st. Credit Suisse Group upgraded shares of Companhia Brasileira de Distribuicao from a “neutral” rating to an “outperform” rating in a research note on Tuesday, November 7th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Companhia Brasileira de Distribuicao currently has an average rating of “Buy” and a consensus target price of $28.00.
Companhia Brasileira de Distribuicao (CBD) traded up $0.01 during midday trading on Tuesday, hitting $23.57. 194,700 shares of the company traded hands, compared to its average volume of 459,198. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.98 and a current ratio of 1.18. The company has a market cap of $6,274.78, a price-to-earnings ratio of 76.03, a PEG ratio of 1.36 and a beta of 1.84. Companhia Brasileira de Distribuicao has a 1 year low of $16.44 and a 1 year high of $25.90.
Several hedge funds have recently added to or reduced their stakes in CBD. JPMorgan Chase & Co. purchased a new stake in shares of Companhia Brasileira de Distribuicao in the 2nd quarter valued at $204,000. FNY Partners Fund LP boosted its holdings in Companhia Brasileira de Distribuicao by 8,900.0% during the second quarter. FNY Partners Fund LP now owns 9,000 shares of the company’s stock worth $175,000 after buying an additional 8,900 shares in the last quarter. BT Investment Management Ltd purchased a new stake in Companhia Brasileira de Distribuicao during the second quarter worth $14,124,000. Pinebridge Investments L.P. boosted its holdings in Companhia Brasileira de Distribuicao by 175.3% during the second quarter. Pinebridge Investments L.P. now owns 53,400 shares of the company’s stock worth $1,044,000 after buying an additional 34,000 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in Companhia Brasileira de Distribuicao by 3.4% during the second quarter. Northern Trust Corp now owns 395,955 shares of the company’s stock worth $7,740,000 after buying an additional 13,132 shares in the last quarter. 3.33% of the stock is currently owned by institutional investors and hedge funds.
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Companhia Brasileira de Distribuicao Company Profile
Companhia Brasileira de Distribuicao, directly or through its subsidiaries, is engaged in the retail of food, clothing, home appliances, electronics and other items through its chain of hypermarkets, supermarkets, specialized stores and department stores principally under the trade names Pao de Acucar, Minuto Pao de Acucar, Extra Hiper, Extra Super, Minimercado Extra, Assai an the neighborhood shopping mall brand Conviva.
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