Comerica Bank Invests $209,000 in Companhia Brasileira de Distribuicao (CBD) Stock

Comerica Bank purchased a new position in Companhia Brasileira de Distribuicao (NYSE:CBD) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 8,927 shares of the company’s stock, valued at approximately $209,000.

A number of other institutional investors and hedge funds also recently modified their holdings of CBD. FNY Partners Fund LP increased its stake in Companhia Brasileira de Distribuicao by 8,900.0% in the 2nd 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. NGAM Advisors L.P. purchased a new position in Companhia Brasileira de Distribuicao in the 2nd quarter worth about $201,000. JPMorgan Chase & Co. purchased a new position in Companhia Brasileira de Distribuicao in the 2nd quarter worth about $204,000. First Allied Advisory Services Inc. increased its stake in Companhia Brasileira de Distribuicao by 0.5% in the 2nd quarter. First Allied Advisory Services Inc. now owns 11,305 shares of the company’s stock worth $218,000 after purchasing an additional 58 shares in the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new position in Companhia Brasileira de Distribuicao in the 2nd quarter worth about $231,000. 3.33% of the stock is currently owned by hedge funds and other institutional investors.

Companhia Brasileira de Distribuicao (NYSE CBD) opened at $23.10 on Thursday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.98 and a current ratio of 1.18. Companhia Brasileira de Distribuicao has a 12 month low of $14.73 and a 12 month high of $25.90. The firm has a market capitalization of $5,979.28, a PE ratio of 24.41, a price-to-earnings-growth ratio of 1.30 and a beta of 1.84.

The firm also recently announced a special dividend, which will be paid on Friday, December 22nd. Shareholders of record on Monday, December 11th will be paid a dividend of $0.0968 per share. The ex-dividend date is Friday, December 8th. This is a boost from Companhia Brasileira de Distribuicao’s previous special dividend of $0.06.

Several equities analysts have weighed in on CBD shares. Zacks Investment Research cut Companhia Brasileira de Distribuicao from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. Credit Suisse Group raised Companhia Brasileira de Distribuicao from a “neutral” rating to an “outperform” rating in a research note on Tuesday, November 7th. Finally, UBS raised Companhia Brasileira de Distribuicao from a “market perform” rating to an “outperform” rating in a research note on Tuesday, November 21st. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Companhia Brasileira de Distribuicao currently has a consensus rating of “Buy” and an average price target of $28.00.

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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.

Institutional Ownership by Quarter for Companhia Brasileira de Distribuicao (NYSE:CBD)

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