Zacks Investment Research lowered shares of Companhia Brasileira de Distribuicao (NYSE:CBD) from a hold rating to a sell rating in a report released on Tuesday, December 19th.
According to Zacks, “Companhia Brasileira has lagged the industry in the past three months. 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. However, continued market share gains at its Assai and Multivarejo segments bodes well. 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.”
Several other equities analysts also recently weighed in on the stock. Credit Suisse Group upgraded shares of Companhia Brasileira de Distribuicao from a neutral rating to an outperform rating in a report on Tuesday, November 7th. UBS Group upgraded shares of Companhia Brasileira de Distribuicao from a market perform rating to an outperform rating in a report on Tuesday, November 21st. One 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’s stock. Companhia Brasileira de Distribuicao presently has an average rating of Buy and a consensus price target of $28.00.
Shares of Companhia Brasileira de Distribuicao (NYSE:CBD) traded up $0.49 during trading on Tuesday, hitting $23.19. 116,809 shares of the company traded hands, compared to its average volume of 223,062. The stock has a market cap of $6,180.00, a price-to-earnings ratio of 165.64, a P/E/G ratio of 1.04 and a beta of 1.84. The company has a quick ratio of 0.98, a current ratio of 1.18 and a debt-to-equity ratio of 0.26. Companhia Brasileira de Distribuicao has a 52-week low of $16.93 and a 52-week high of $25.90.
The business also recently declared a special dividend, which was paid on Friday, December 22nd. Stockholders of record on Monday, December 11th were issued a dividend of $0.0968 per share. The ex-dividend date of this dividend was Friday, December 8th. This is a positive change from Companhia Brasileira de Distribuicao’s previous special dividend of $0.06. Companhia Brasileira de Distribuicao’s payout ratio is currently 228.57%.
Several large investors have recently modified their holdings of CBD. Susquehanna International Group LLP acquired a new position in Companhia Brasileira de Distribuicao in the 3rd quarter valued at about $269,000. Cubist Systematic Strategies LLC grew its position in Companhia Brasileira de Distribuicao by 228.2% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 38,751 shares of the company’s stock valued at $917,000 after acquiring an additional 26,945 shares in the last quarter. Highbridge Capital Management LLC acquired a new position in Companhia Brasileira de Distribuicao in the 3rd quarter valued at about $225,000. Bienville Capital Management LLC grew its position in Companhia Brasileira de Distribuicao by 80.5% in the 3rd quarter. Bienville Capital Management LLC now owns 139,369 shares of the company’s stock valued at $3,299,000 after acquiring an additional 62,162 shares in the last quarter. Finally, Pinebridge Investments L.P. grew its position in Companhia Brasileira de Distribuicao by 42.9% in the 3rd quarter. Pinebridge Investments L.P. now owns 76,298 shares of the company’s stock valued at $1,806,000 after acquiring an additional 22,898 shares in the last quarter. 3.33% of the stock is owned by hedge funds and other institutional investors.
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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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