Brokerages Set Companhia Brasileira de Distribuicao (CBD) Target Price at $23.00

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Companhia Brasileira de Distribuicao (NYSE:CBD) has been assigned a consensus rating of “Buy” from the eight analysts that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a hold recommendation, six have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $23.00.

Several brokerages recently commented on CBD. ValuEngine raised Companhia Brasileira de Distribuicao from a “sell” rating to a “hold” rating in a research report on Thursday, November 1st. Zacks Investment Research raised Companhia Brasileira de Distribuicao from a “sell” rating to a “strong-buy” rating and set a $23.00 price target for the company in a research report on Friday, September 21st. Finally, Santander raised Companhia Brasileira de Distribuicao from a “hold” rating to a “buy” rating in a research report on Monday, September 10th.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of Montreal Can acquired a new stake in shares of Companhia Brasileira de Distribuicao in the third quarter valued at approximately $3,525,000. Tower Research Capital LLC TRC lifted its position in shares of Companhia Brasileira de Distribuicao by 287.3% in the second quarter. Tower Research Capital LLC TRC now owns 21,069 shares of the company’s stock valued at $421,000 after buying an additional 15,629 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of Companhia Brasileira de Distribuicao in the second quarter valued at approximately $344,000. Newfoundland Capital Management acquired a new stake in shares of Companhia Brasileira de Distribuicao in the second quarter valued at approximately $3,593,000. Finally, Renaissance Technologies LLC lifted its position in shares of Companhia Brasileira de Distribuicao by 186.6% in the second quarter. Renaissance Technologies LLC now owns 414,400 shares of the company’s stock valued at $8,280,000 after buying an additional 269,800 shares during the last quarter. 2.04% of the stock is owned by institutional investors.

Shares of NYSE CBD opened at $21.94 on Friday. Companhia Brasileira de Distribuicao has a 52 week low of $17.91 and a 52 week high of $25.12. The company has a quick ratio of 0.99, a current ratio of 1.20 and a debt-to-equity ratio of 0.36. The company has a market cap of $6.01 billion, a P/E ratio of 47.63, a P/E/G ratio of 1.12 and a beta of 1.49.

The business also recently declared a special dividend, which will be paid on Tuesday, December 4th. Investors of record on Monday, October 8th will be given a dividend of $0.1115 per share. The ex-dividend date of this dividend is Thursday, October 4th. This is a boost from Companhia Brasileira de Distribuicao’s previous special dividend of $0.11. Companhia Brasileira de Distribuicao’s dividend payout ratio is 82.61%.

Companhia Brasileira de Distribuicao Company Profile

Companhia Brasileira de Distribuição engages in the retail of food, clothing, home appliances, electronics, and other products through its chain of hypermarkets, supermarkets, specialized stores, and department stores in Brazil. The company operates through two segments, Food Retail; and Cash and Carry.

Further Reading: Understanding each part of a balance sheet

Analyst Recommendations for Companhia Brasileira de Distribuicao (NYSE:CBD)

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