Companhia Brasileira de Distribuicao (CBD) Rating Lowered to Sell at Zacks Investment Research

Companhia Brasileira de Distribuicao (NYSE:CBD) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday.

According to Zacks, “Companhia Brasileira has lagged the industry in the past three months. 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. However, continued market share gains at its Assai and Multivarejo segments bodes well. 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.”

Several other analysts have also commented on CBD. UBS raised Companhia Brasileira de Distribuicao from a “market perform” rating to an “outperform” rating in a report on Tuesday, November 21st. Credit Suisse Group raised 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 sell rating, three have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $28.00.

Shares of Companhia Brasileira de Distribuicao (NYSE CBD) opened at $21.86 on Tuesday. The company has a market capitalization of $5,854.16, a PE ratio of 23.90, a P/E/G ratio of 1.27 and a beta of 1.84. Companhia Brasileira de Distribuicao has a 1-year low of $15.43 and a 1-year high of $25.90. The company has a current ratio of 1.18, a quick ratio of 0.98 and a debt-to-equity ratio of 0.26.

A number of hedge funds have recently modified their holdings of CBD. GAM Holding AG boosted its position in Companhia Brasileira de Distribuicao by 70.0% during the second quarter. GAM Holding AG now owns 34,000 shares of the company’s stock worth $665,000 after purchasing an additional 14,000 shares in the last quarter. Thomas White International Ltd. boosted its position in Companhia Brasileira de Distribuicao by 10.0% during the second quarter. Thomas White International Ltd. now owns 69,716 shares of the company’s stock worth $1,363,000 after purchasing an additional 6,353 shares in the last quarter. Brandes Investment Partners LP boosted its position in Companhia Brasileira de Distribuicao by 2.9% during the second quarter. Brandes Investment Partners LP now owns 1,832,486 shares of the company’s stock worth $35,825,000 after purchasing an additional 51,358 shares in the last quarter. JPMorgan Chase & Co. purchased a new position in Companhia Brasileira de Distribuicao during the second quarter worth approximately $204,000. Finally, FNY Partners Fund LP boosted its position in 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 purchasing an additional 8,900 shares in the last quarter. 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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