StockNews.com Initiates Coverage on Companhia Brasileira De Distribuicao (NYSE:CBD)

Research analysts at StockNews.com initiated coverage on shares of Companhia Brasileira De Distribuicao (NYSE:CBD) in a note issued to investors on Thursday. The firm set a “hold” rating on the stock.

Companhia Brasileira De Distribuicao Stock Performance

The company has a 50-day moving average of $0.62 and a 200 day moving average of $0.70. The company has a quick ratio of 0.89, a current ratio of 1.21 and a debt-to-equity ratio of 0.91. Companhia Brasileira De Distribuicao has a 52 week low of $0.45 and a 52 week high of $4.76. The stock has a market cap of $119.91 million, a P/E ratio of -3.42 and a beta of 1.24.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CBD. WINTON GROUP Ltd lifted its stake in Companhia Brasileira De Distribuicao by 139.8% in the third quarter. WINTON GROUP Ltd now owns 74,488 shares of the company’s stock worth $50,000 after acquiring an additional 43,431 shares during the last quarter. Optiver Holding B.V. grew its stake in shares of Companhia Brasileira De Distribuicao by 50.2% during the third quarter. Optiver Holding B.V. now owns 394,700 shares of the company’s stock worth $263,000 after purchasing an additional 132,000 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Companhia Brasileira De Distribuicao in the third quarter valued at $88,000. Federated Hermes Inc. raised its stake in Companhia Brasileira De Distribuicao by 63.0% in the fourth quarter. Federated Hermes Inc. now owns 124,566 shares of the company’s stock valued at $100,000 after buying an additional 48,166 shares in the last quarter. Finally, Banco BTG Pactual S.A. raised its position in shares of Companhia Brasileira De Distribuicao by 173.8% during the 4th quarter. Banco BTG Pactual S.A. now owns 311,400 shares of the company’s stock worth $240,000 after acquiring an additional 197,661 shares in the last quarter. 2.44% of the stock is currently owned by hedge funds and other institutional investors.

Companhia Brasileira De Distribuicao Company Profile

Companhia Brasileira De Distribuicao engages in the operation of supermarkets, specialized stores, and department stores in Brazil. It sells food products, including non-perishables, beverages, fruits, vegetables, meat, bread, cold cuts, and dairy products; and non-food products, such as cleaning supplies, disposable products, personal care products, and pet supplies under its private label and third-party brands.