Companhia Brasileira de Distribuição (NYSE:CBD) Rating Increased to Buy at StockNews.com

Companhia Brasileira de Distribuição (NYSE:CBDGet Rating) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a report released on Tuesday.

Several other equities analysts have also recently issued reports on CBD. JPMorgan Chase & Co. cut shares of Companhia Brasileira de Distribuição from an “overweight” rating to a “neutral” rating in a research note on Monday, July 25th. Bank of America upgraded shares of Companhia Brasileira de Distribuição from an “underperform” rating to a “buy” rating in a research report on Wednesday, May 4th.

Companhia Brasileira de Distribuição Stock Down 1.9 %

Shares of NYSE:CBD opened at $3.02 on Tuesday. The company has a current ratio of 1.06, a quick ratio of 0.69 and a debt-to-equity ratio of 0.34. The company’s 50-day moving average price is $3.43 and its 200 day moving average price is $4.10. Companhia Brasileira de Distribuição has a fifty-two week low of $2.73 and a fifty-two week high of $6.20.

Companhia Brasileira de Distribuição (NYSE:CBDGet Rating) last announced its quarterly earnings results on Wednesday, May 4th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.56 by ($1.64). Companhia Brasileira de Distribuição had a return on equity of 3.11% and a net margin of 4.01%. The business had revenue of $1.93 billion for the quarter. On average, research analysts predict that Companhia Brasileira de Distribuição will post 0.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC raised its holdings in shares of Companhia Brasileira de Distribuição by 20.0% in the 2nd quarter. SG Americas Securities LLC now owns 40,784 shares of the company’s stock worth $126,000 after buying an additional 6,793 shares in the last quarter. Counterpoint Mutual Funds LLC boosted its stake in shares of Companhia Brasileira de Distribuição by 121.7% in the 2nd quarter. Counterpoint Mutual Funds LLC now owns 28,987 shares of the company’s stock valued at $90,000 after purchasing an additional 15,915 shares in the last quarter. Farmer Steven Patrick bought a new stake in shares of Companhia Brasileira de Distribuição in the 2nd quarter worth about $95,000. Bank of America Corp DE lifted its holdings in Companhia Brasileira de Distribuição by 2,166.0% during the 1st quarter. Bank of America Corp DE now owns 1,032,896 shares of the company’s stock valued at $5,205,000 after purchasing an additional 987,314 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in Companhia Brasileira de Distribuição in the first quarter valued at about $53,000. Institutional investors and hedge funds own 4.35% of the company’s stock.

About Companhia Brasileira de Distribuição

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Companhia Brasileira de Distribuição engages in the retail of food, clothing, home appliances, electronics, and other products through its chain of supermarkets, specialized stores, and department stores in Brazil. It operates in Brazilian Retail, Grupo Éxito, and Other Businesses segments. The company sells non-perishables, beverages, fruits, vegetables, meat, breads, cold cuts, dairy products, cleaning products, disposable products, and personal care products; and home appliances and other non-food products, such as clothing and baby items, shoes and accessories, household articles, books, magazines, CDs and DVDs, stationery, toys, sports and camping gears, furniture, mobile phones, mattresses, pet products, and gardening equipment and tools, as well as electronic products, including personal computers, software, computer accessories, and sound and image systems.

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