Brokerages Set Companhia Brasileira de Distribuicao (CBD) Price Target at $28.00

Companhia Brasileira de Distribuicao (NYSE:CBD) has been assigned a consensus recommendation of “Buy” from the seven brokerages that are covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $28.00.

CBD has been the subject of a number of research reports. Zacks Investment Research downgraded Companhia Brasileira de Distribuicao from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. Credit Suisse Group raised Companhia Brasileira de Distribuicao from a “neutral” rating to an “outperform” rating in a research report on Tuesday, November 7th. Finally, UBS raised Companhia Brasileira de Distribuicao from a “market perform” rating to an “outperform” rating in a research report on Tuesday, November 21st.

Companhia Brasileira de Distribuicao (NYSE:CBD) traded up $0.65 during trading on Friday, reaching $22.33. The company had a trading volume of 251,600 shares, compared to its average volume of 478,812. The firm has a market capitalization of $5,771.63, a price-to-earnings ratio of 23.57, a P/E/G ratio of 1.25 and a beta of 1.84. Companhia Brasileira de Distribuicao has a 52-week low of $14.20 and a 52-week high of $25.90. 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 declared a special dividend, which will be paid on Friday, December 22nd. Investors of record on Monday, December 11th will be issued a $0.0968 dividend. The ex-dividend date of this dividend is Friday, December 8th. This is an increase from Companhia Brasileira de Distribuicao’s previous special dividend of $0.06.

A number of institutional investors and hedge funds have recently modified their holdings of CBD. Wells Fargo & Company MN increased its position in Companhia Brasileira de Distribuicao by 1,184.5% in the 3rd quarter. Wells Fargo & Company MN now owns 4,817 shares of the company’s stock valued at $114,000 after acquiring an additional 4,442 shares during the period. FNY Partners Fund LP boosted its stake in Companhia Brasileira de Distribuicao by 8,900.0% during the 2nd 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 in the last quarter. NGAM Advisors L.P. bought a new position in Companhia Brasileira de Distribuicao during the 2nd quarter valued at $201,000. JPMorgan Chase & Co. bought a new position in Companhia Brasileira de Distribuicao during the 2nd quarter valued at $204,000. Finally, Comerica Bank bought a new position in Companhia Brasileira de Distribuicao during the 3rd quarter valued at $209,000. 3.33% of the stock is owned by hedge funds and other institutional investors.

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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.

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