Sendas Distribuidora (NYSE:ASAI) Cut to “Neutral” at JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered shares of Sendas Distribuidora (NYSE:ASAI) from an overweight rating to a neutral rating in a report published on Monday, MarketBeat.com reports. The brokerage currently has $10.50 price objective on the stock.

Sendas Distribuidora Trading Down 0.1 %

NYSE ASAI opened at $8.06 on Monday. The company has a quick ratio of 0.45, a current ratio of 0.84 and a debt-to-equity ratio of 4.18. Sendas Distribuidora has a 52 week low of $7.72 and a 52 week high of $15.25. The business has a 50 day moving average price of $9.16 and a 200-day moving average price of $11.55. The company has a market cap of $2.18 billion, a price-to-earnings ratio of 15.20, a P/E/G ratio of 0.55 and a beta of 1.04.

Sendas Distribuidora (NYSE:ASAI) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.02. Sendas Distribuidora had a net margin of 0.95% and a return on equity of 14.49%. The business had revenue of $3.43 billion during the quarter, compared to analyst estimates of $3.60 billion. As a group, equities analysts expect that Sendas Distribuidora will post 0.49 earnings per share for the current fiscal year.

Institutional Trading of Sendas Distribuidora

Institutional investors and hedge funds have recently modified their holdings of the stock. Coronation Fund Managers Ltd. lifted its position in shares of Sendas Distribuidora by 35.2% during the second quarter. Coronation Fund Managers Ltd. now owns 8,135,612 shares of the company’s stock valued at $75,661,000 after purchasing an additional 2,116,441 shares in the last quarter. Breakout Capital Partners LP purchased a new position in shares of Sendas Distribuidora in the 4th quarter worth approximately $13,347,000. Royal London Asset Management Ltd. boosted its stake in shares of Sendas Distribuidora by 888.9% in the 4th quarter. Royal London Asset Management Ltd. now owns 307,970 shares of the company’s stock worth $4,256,000 after buying an additional 276,826 shares during the last quarter. Brandes Investment Partners LP increased its position in shares of Sendas Distribuidora by 146.1% during the fourth quarter. Brandes Investment Partners LP now owns 176,981 shares of the company’s stock valued at $2,446,000 after acquiring an additional 105,073 shares during the last quarter. Finally, Barings LLC lifted its holdings in Sendas Distribuidora by 28.9% during the first quarter. Barings LLC now owns 403,015 shares of the company’s stock worth $5,957,000 after acquiring an additional 90,256 shares during the period. 8.76% of the stock is owned by hedge funds and other institutional investors.

Sendas Distribuidora Company Profile

Sendas Distribuidora SA engages in the retail and wholesale sale of food products, bazaar items, and other products in Brazil. The company serves restaurants, pizzerias, snack bars, schools, small businesses, religious institutions, hospitals, hotels, grocery stores, neighborhood supermarkets, and individuals.