Zacks Investment Research upgraded shares of Companhia Brasileira de Distribuicao (NYSE:CBD) from a sell rating to a hold rating in a research 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.”

CBD has been the topic of a number of other research reports. UBS Group raised shares of Companhia Brasileira de Distribuicao from a market perform rating to an outperform rating in a report on Tuesday, November 21st. Credit Suisse Group raised shares of Companhia Brasileira de Distribuicao from a neutral rating to an outperform rating in a report on Tuesday, November 7th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $28.00.

Companhia Brasileira de Distribuicao (CBD) traded up $0.37 during mid-day trading on Tuesday, reaching $23.94. 126,500 shares of the company’s stock were exchanged, compared to its average volume of 160,600. The company has a current ratio of 1.18, a quick ratio of 0.98 and a debt-to-equity ratio of 0.26. Companhia Brasileira de Distribuicao has a 12 month low of $16.93 and a 12 month high of $25.90. The firm has a market capitalization of $6,450.00, a PE ratio of 171.00, a P/E/G ratio of 1.03 and a beta of 1.84.

The business also recently disclosed a special dividend, which was paid on Friday, December 22nd. Shareholders of record on Monday, December 11th were issued a dividend of $0.0968 per share. The ex-dividend date of this dividend was Friday, December 8th. This is a boost from Companhia Brasileira de Distribuicao’s previous special dividend of $0.06. Companhia Brasileira de Distribuicao’s dividend payout ratio (DPR) is presently 228.57%.

Hedge funds have recently added to or reduced their stakes in the business. Wells Fargo & Company MN grew its position in shares of 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 worth $114,000 after acquiring an additional 4,442 shares during the last quarter. FNY Partners Fund LP grew its position in shares of 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 worth $175,000 after acquiring an additional 8,900 shares during the last quarter. JPMorgan Chase & Co. purchased a new position in shares of Companhia Brasileira de Distribuicao during the second quarter worth approximately $204,000. Comerica Bank purchased a new position in shares of Companhia Brasileira de Distribuicao during the third quarter worth approximately $209,000. Finally, First Allied Advisory Services Inc. grew its position in shares of Companhia Brasileira de Distribuicao by 0.5% during the second quarter. First Allied Advisory Services Inc. now owns 11,305 shares of the company’s stock worth $218,000 after acquiring an additional 58 shares during the last quarter. 3.33% of the stock is currently owned by institutional investors.

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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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