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

Companhia Brasileira de Distribuicao (NYSE:CBD) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released 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.”

A number of other analysts have also recently issued reports on the stock. UBS Group raised shares of Companhia Brasileira de Distribuicao from a “market perform” rating to an “outperform” rating in a research note on Tuesday, November 21st. Credit Suisse Group raised shares of Companhia Brasileira de Distribuicao from a “neutral” rating to an “outperform” rating in a research note on Tuesday, November 7th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $28.00.

Shares of Companhia Brasileira de Distribuicao (NYSE CBD) traded up $0.02 during midday trading on Tuesday, hitting $23.96. 198,500 shares of the stock were exchanged, compared to its average volume of 162,500. 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 stock has a market capitalization of $6,373.28, a PE ratio of 77.29, a PEG ratio of 1.04 and a beta of 1.84. Companhia Brasileira de Distribuicao has a 1 year low of $16.93 and a 1 year high of $25.90.

Several large investors have recently modified their holdings of the stock. Harding Loevner LP boosted its position in shares of Companhia Brasileira de Distribuicao by 0.7% during the third quarter. Harding Loevner LP now owns 6,466,540 shares of the company’s stock worth $153,063,000 after acquiring an additional 47,850 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Companhia Brasileira de Distribuicao by 3.6% during the second quarter. Vanguard Group Inc. now owns 1,701,006 shares of the company’s stock worth $33,255,000 after acquiring an additional 59,100 shares during the last quarter. BT Investment Management Ltd boosted its position in shares of Companhia Brasileira de Distribuicao by 43.9% during the third quarter. BT Investment Management Ltd now owns 1,039,313 shares of the company’s stock worth $24,601,000 after acquiring an additional 316,855 shares during the last quarter. Russell Investments Group Ltd. boosted its position in shares of Companhia Brasileira de Distribuicao by 11.6% during the third quarter. Russell Investments Group Ltd. now owns 900,598 shares of the company’s stock worth $21,318,000 after acquiring an additional 93,513 shares during the last quarter. Finally, Lord Abbett & CO. LLC bought a new position in shares of Companhia Brasileira de Distribuicao during the second quarter worth $8,809,000. Hedge funds and other institutional investors own 3.33% of the company’s stock.

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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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