Analysts Set Companhia Brasileira de Distribuicao (CBD) Price Target at $23.00

Companhia Brasileira de Distribuicao (NYSE:CBD) has earned a consensus rating of “Buy” from the six analysts that are presently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $23.00.

CBD has been the topic of several research reports. Zacks Investment Research lowered Companhia Brasileira de Distribuicao from a “buy” rating to a “hold” rating in a research note on Wednesday, March 15th. J P Morgan Chase & Co upgraded Companhia Brasileira de Distribuicao to an “overweight” rating in a research note on Wednesday, March 22nd. Finally, BidaskClub lowered Companhia Brasileira de Distribuicao from a “strong-buy” rating to a “buy” rating in a research note on Wednesday.

A number of large investors have recently added to or reduced their stakes in the stock. Boston Common Asset Management LLC increased its stake in Companhia Brasileira de Distribuicao by 0.4% in the first quarter. Boston Common Asset Management LLC now owns 16,050 shares of the company’s stock worth $308,000 after buying an additional 70 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in Companhia Brasileira de Distribuicao by 581.3% in the first quarter. Goldman Sachs Group Inc. now owns 116,802 shares of the company’s stock worth $2,243,000 after buying an additional 99,658 shares during the last quarter. INCA Investments LLC increased its stake in Companhia Brasileira de Distribuicao by 5.8% in the first quarter. INCA Investments LLC now owns 1,614,500 shares of the company’s stock worth $30,998,000 after buying an additional 88,934 shares during the last quarter. Macquarie Group Ltd. increased its stake in Companhia Brasileira de Distribuicao by 1.4% in the first quarter. Macquarie Group Ltd. now owns 2,562,437 shares of the company’s stock worth $49,201,000 after buying an additional 34,952 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new stake in Companhia Brasileira de Distribuicao during the first quarter worth $1,670,000. 3.39% of the stock is currently owned by institutional investors.

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Companhia Brasileira de Distribuicao (NYSE CBD) traded down 0.15% on Friday, reaching $20.35. The company’s stock had a trading volume of 204,629 shares. Companhia Brasileira de Distribuicao has a 52 week low of $12.79 and a 52 week high of $24.75. The stock’s 50 day moving average is $21.76 and its 200-day moving average is $18.94. The firm’s market capitalization is $5.41 billion.

Companhia Brasileira de Distribuicao Company Profile

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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