JPMorgan Chase & Co. Lowers Companhia Brasileira de Distribuição (NYSE:CBD) to Neutral

JPMorgan Chase & Co. cut shares of Companhia Brasileira de Distribuição (NYSE:CBDGet Rating) from an overweight rating to a neutral rating in a research note released on Monday, MarketBeat Ratings reports.

Other analysts have also recently issued research reports about the company. Bank of America raised Companhia Brasileira de Distribuição from an underperform rating to a buy rating in a report on Wednesday, May 4th. StockNews.com raised Companhia Brasileira de Distribuição from a hold rating to a buy rating in a report on Friday, July 15th.

Companhia Brasileira de Distribuição Stock Performance

CBD stock opened at $2.88 on Monday. The company has a current ratio of 1.11, a quick ratio of 0.72 and a debt-to-equity ratio of 0.39. Companhia Brasileira de Distribuição has a fifty-two week low of $2.87 and a fifty-two week high of $6.76. The stock has a fifty day moving average of $3.55 and a 200-day moving average of $4.12.

Companhia Brasileira de Distribuição (NYSE:CBDGet Rating) last posted its quarterly earnings results on Wednesday, May 4th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $1.56 by ($1.64). The firm had revenue of $1.93 billion for the quarter. Companhia Brasileira de Distribuição had a return on equity of 4.21% and a net margin of 4.33%. As a group, sell-side analysts forecast that Companhia Brasileira de Distribuição will post 0.94 EPS for the current fiscal year.

Companhia Brasileira de Distribuição Cuts Dividend

The firm also recently declared an annual dividend, which was paid on Wednesday, June 22nd. Shareholders of record on Monday, May 9th were issued a $0.061 dividend. The ex-dividend date of this dividend was Friday, May 6th. This represents a dividend yield of 1.43%.

Institutional Trading of Companhia Brasileira de Distribuição

Several institutional investors and hedge funds have recently modified their holdings of the business. Farmer Steven Patrick purchased a new stake in shares of Companhia Brasileira de Distribuição in the 2nd quarter valued at about $95,000. Bank of America Corp DE increased its position in shares of 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. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Companhia Brasileira de Distribuição during the 1st quarter valued at about $53,000. Virtu Financial LLC bought a new position in shares of Companhia Brasileira de Distribuição during the 1st quarter valued at about $84,000. Finally, Goldman Sachs Group Inc. increased its position in shares of Companhia Brasileira de Distribuição by 268.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 98,924 shares of the company’s stock valued at $499,000 after purchasing an additional 72,075 shares during the last quarter. Hedge funds and other institutional investors 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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