Pinebridge Investments L.P. Buys 22,898 Shares of Companhia Brasileira de Distribuicao (CBD)

Pinebridge Investments L.P. boosted its stake in shares of Companhia Brasileira de Distribuicao (NYSE:CBD) by 42.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 76,298 shares of the company’s stock after purchasing an additional 22,898 shares during the period. Pinebridge Investments L.P.’s holdings in Companhia Brasileira de Distribuicao were worth $1,806,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Wells Fargo & Company MN boosted its position in Companhia Brasileira de Distribuicao by 1,184.5% during the third quarter. Wells Fargo & Company MN now owns 4,817 shares of the company’s stock valued at $114,000 after purchasing an additional 4,442 shares during the last quarter. Comerica Bank acquired a new position in Companhia Brasileira de Distribuicao during the third quarter valued at approximately $209,000. FNY Partners Fund LP boosted its position in Companhia Brasileira de Distribuicao by 8,900.0% during the second quarter. FNY Partners Fund LP now owns 9,000 shares of the company’s stock valued at $175,000 after purchasing an additional 8,900 shares during the last quarter. World Asset Management Inc acquired a new position in Companhia Brasileira de Distribuicao during the third quarter valued at approximately $231,000. Finally, NGAM Advisors L.P. acquired a new position in Companhia Brasileira de Distribuicao during the second quarter valued at approximately $201,000. 3.33% of the stock is owned by hedge funds and other institutional investors.

CBD has been the subject of several recent research reports. Zacks Investment Research raised Companhia Brasileira de Distribuicao from a “hold” rating to a “buy” rating and set a $28.00 price target for the company in a research report on Tuesday, September 26th. UBS raised Companhia Brasileira de Distribuicao from a “market perform” rating to an “outperform” rating in a research report on Tuesday, November 21st. Finally, Credit Suisse Group raised Companhia Brasileira de Distribuicao from a “neutral” rating to an “outperform” rating in a research report on Tuesday, November 7th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $28.00.

Shares of Companhia Brasileira de Distribuicao (NYSE:CBD) opened at $23.10 on Thursday. Companhia Brasileira de Distribuicao has a 52-week low of $14.73 and a 52-week high of $25.90. The stock has a market capitalization of $5,979.28, a P/E ratio of 24.41, a PEG ratio of 1.30 and a beta of 1.84. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.18 and a quick ratio of 0.98.

The firm also recently disclosed a special dividend, which will be paid on Friday, December 22nd. Stockholders of record on Monday, December 11th will be given a $0.0968 dividend. This is a boost from Companhia Brasileira de Distribuicao’s previous special dividend of $0.06. The ex-dividend date of this dividend is Friday, December 8th.

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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.

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

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