Federated Hermes Inc. Raises Stake in Sendas Distribuidora S.A. (NYSE:ASAI)

Federated Hermes Inc. increased its holdings in Sendas Distribuidora S.A. (NYSE:ASAI) by 63.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 67,990 shares of the company’s stock after buying an additional 26,290 shares during the quarter. Federated Hermes Inc.’s holdings in Sendas Distribuidora were worth $940,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. HBK Sorce Advisory LLC raised its stake in shares of Sendas Distribuidora by 16.1% during the 4th quarter. HBK Sorce Advisory LLC now owns 12,741 shares of the company’s stock valued at $176,000 after buying an additional 1,769 shares during the last quarter. ANTIPODES PARTNERS Ltd raised its position in Sendas Distribuidora by 22.1% during the fourth quarter. ANTIPODES PARTNERS Ltd now owns 1,189,841 shares of the company’s stock valued at $16,443,000 after acquiring an additional 215,324 shares in the last quarter. Citigroup Inc. lifted its holdings in Sendas Distribuidora by 42.1% in the third quarter. Citigroup Inc. now owns 24,219 shares of the company’s stock valued at $295,000 after acquiring an additional 7,172 shares during the period. Ruane Cunniff & Goldfarb L.P. boosted its position in Sendas Distribuidora by 4.6% in the 3rd quarter. Ruane Cunniff & Goldfarb L.P. now owns 145,705 shares of the company’s stock worth $1,775,000 after purchasing an additional 6,378 shares in the last quarter. Finally, Renaissance Group LLC grew its stake in shares of Sendas Distribuidora by 6.5% during the 3rd quarter. Renaissance Group LLC now owns 505,645 shares of the company’s stock worth $6,147,000 after purchasing an additional 30,777 shares during the period. 8.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. upgraded shares of Sendas Distribuidora from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $15.00 to $17.00 in a research note on Tuesday, April 23rd.

Sendas Distribuidora Trading Up 0.9 %

ASAI stock opened at $12.85 on Thursday. Sendas Distribuidora S.A. has a 52-week low of $10.44 and a 52-week high of $15.25. The company has a quick ratio of 0.39, a current ratio of 0.77 and a debt-to-equity ratio of 4.10. The firm has a market cap of $3.47 billion, a P/E ratio of 24.25, a PEG ratio of 0.64 and a beta of 1.12. The company’s 50-day simple moving average is $14.07 and its 200-day simple moving average is $13.48.

Sendas Distribuidora (NYSE:ASAI) last issued its quarterly earnings results on Wednesday, February 21st. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.01. The company had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.98 billion. Sendas Distribuidora had a return on equity of 16.48% and a net margin of 1.07%. As a group, equities analysts forecast that Sendas Distribuidora S.A. will post 0.63 EPS for the current fiscal year.

Sendas Distribuidora Profile

Sendas Distribuidora SA engages in the retail and wholesale sale of food products, bazaar items, and other products in Brazil. The company serves restaurants, pizzerias, snack bars, schools, small businesses, religious institutions, hospitals, hotels, grocery stores, neighborhood supermarkets, and individuals.