Companhia Brasileira de Distribuicao (CBD) Lifted to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Companhia Brasileira de Distribuicao (NYSE:CBD) from a sell rating to a hold rating in a research report report published 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.”

Other equities research analysts have also issued research reports about the company. UBS Group upgraded Companhia Brasileira de Distribuicao from a market perform rating to an outperform rating in a research report on Tuesday, November 21st. Credit Suisse Group upgraded Companhia Brasileira de Distribuicao from a neutral rating to an outperform rating in a research report on Tuesday, November 7th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Companhia Brasileira de Distribuicao currently has a consensus rating of Buy and a consensus price target of $28.00.

Shares of Companhia Brasileira de Distribuicao (NYSE:CBD) traded up $0.10 during trading on Tuesday, hitting $24.06. The company had a trading volume of 148,300 shares, compared to its average volume of 157,767. Companhia Brasileira de Distribuicao has a 52 week low of $16.93 and a 52 week high of $25.90. The company has a current ratio of 1.18, a quick ratio of 0.98 and a debt-to-equity ratio of 0.26. The company has a market cap of $6,378.61, a price-to-earnings ratio of 77.61, a price-to-earnings-growth ratio of 1.04 and a beta of 1.84.

The company also recently declared a special dividend, which was paid on Friday, December 22nd. Investors of record on Monday, December 11th were paid a dividend of $0.0968 per share. This is an increase from Companhia Brasileira de Distribuicao’s previous special dividend of $0.06. The ex-dividend date was Friday, December 8th. Companhia Brasileira de Distribuicao’s dividend payout ratio is 103.23%.

A number of hedge funds have recently bought and sold shares of the stock. Harding Loevner LP raised its stake in Companhia Brasileira de Distribuicao by 0.7% during the 3rd quarter. Harding Loevner LP now owns 6,466,540 shares of the company’s stock worth $153,063,000 after buying an additional 47,850 shares during the period. Vanguard Group Inc. raised its stake in Companhia Brasileira de Distribuicao by 3.6% during the 2nd quarter. Vanguard Group Inc. now owns 1,701,006 shares of the company’s stock worth $33,255,000 after buying an additional 59,100 shares during the period. BT Investment Management Ltd raised its stake in Companhia Brasileira de Distribuicao by 43.9% during the 3rd quarter. BT Investment Management Ltd now owns 1,039,313 shares of the company’s stock worth $24,601,000 after buying an additional 316,855 shares during the period. Russell Investments Group Ltd. raised its stake in Companhia Brasileira de Distribuicao by 11.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 900,598 shares of the company’s stock worth $21,318,000 after buying an additional 93,513 shares during the period. Finally, Lord Abbett & CO. LLC acquired a new position in Companhia Brasileira de Distribuicao during the 2nd quarter worth approximately $8,809,000. 3.33% of the stock is currently owned by institutional investors and hedge funds.

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About Companhia Brasileira de Distribuicao

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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