Bank of Montreal Can Acquires New Stake in Companhia Brasileira de Distribuicao (CBD)

Bank of Montreal Can acquired a new position in shares of Companhia Brasileira de Distribuicao (NYSE:CBD) in the 3rd quarter, HoldingsChannel reports. The fund acquired 164,121 shares of the company’s stock, valued at approximately $3,525,000.

Several other hedge funds also recently modified their holdings of the company. Bank of America Corp DE increased its position in shares of Companhia Brasileira de Distribuicao by 41.8% during the second quarter. Bank of America Corp DE now owns 678,040 shares of the company’s stock worth $13,547,000 after acquiring an additional 199,903 shares in the last quarter. Northern Trust Corp increased its position in shares of Companhia Brasileira de Distribuicao by 6.7% during the second quarter. Northern Trust Corp now owns 448,973 shares of the company’s stock worth $8,971,000 after acquiring an additional 28,343 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Companhia Brasileira de Distribuicao by 186.6% during the second quarter. Renaissance Technologies LLC now owns 414,400 shares of the company’s stock worth $8,280,000 after acquiring an additional 269,800 shares in the last quarter. Pinebridge Investments L.P. increased its position in shares of Companhia Brasileira de Distribuicao by 254.6% during the second quarter. Pinebridge Investments L.P. now owns 341,579 shares of the company’s stock worth $6,824,000 after acquiring an additional 245,239 shares in the last quarter. Finally, Deprince Race & Zollo Inc. bought a new stake in shares of Companhia Brasileira de Distribuicao during the second quarter worth $3,604,000. 2.13% of the stock is owned by institutional investors.

Several equities research analysts have recently issued reports on CBD shares. ValuEngine raised shares of Companhia Brasileira de Distribuicao from a “sell” rating to a “hold” rating in a research report on Thursday. Santander upgraded shares of Companhia Brasileira de Distribuicao from a “hold” rating to a “buy” rating in a report on Monday, September 10th. Finally, Zacks Investment Research upgraded shares of Companhia Brasileira de Distribuicao from a “sell” rating to a “strong-buy” rating and set a $23.00 target price for the company in a report on Friday, September 21st. One analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Companhia Brasileira de Distribuicao currently has an average rating of “Buy” and an average target price of $23.00.

Shares of CBD opened at $22.58 on Monday. Companhia Brasileira de Distribuicao has a 12 month low of $17.91 and a 12 month high of $25.12. The firm has a market cap of $6.01 billion, a P/E ratio of 49.09, a price-to-earnings-growth ratio of 1.12 and a beta of 1.49. The company has a quick ratio of 1.00, a current ratio of 1.20 and a debt-to-equity ratio of 0.36.

The firm also recently announced a special dividend, which will be paid on Tuesday, December 4th. Investors of record on Monday, October 8th will be issued a dividend of $0.1115 per share. This is a boost from Companhia Brasileira de Distribuicao’s previous special dividend of $0.11. The ex-dividend date is Thursday, October 4th. Companhia Brasileira de Distribuicao’s dividend payout ratio is presently 82.61%.

About Companhia Brasileira de Distribuicao

Companhia Brasileira de Distribuição engages in the retail of food, clothing, home appliances, electronics, and other products through its chain of hypermarkets, supermarkets, specialized stores, and department stores in Brazil. The company operates through two segments, Food Retail; and Cash and Carry.

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Institutional Ownership by Quarter for Companhia Brasileira de Distribuicao (NYSE:CBD)

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