Coronation Fund Managers Ltd. Purchase $33.06 Million Holding in Companhia Brasileira de Distribuicao (CBD)

Coronation Fund Managers Ltd. Purchase $33.06 Million Holding in Companhia Brasileira de Distribuicao (CBD)

Coronation Fund Managers Ltd. bought a new position in Companhia Brasileira de Distribuicao (NYSE:CBD) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,591,691 shares of the company’s stock, valued at approximately $33,059,000. Companhia Brasileira de Distribuicao makes up approximately 1.6% of Coronation Fund Managers Ltd.’s investment portfolio, making the stock its 19th largest position.

Several other institutional investors and hedge funds have also bought and sold shares of CBD. Northern Trust Corp grew its holdings in Companhia Brasileira de Distribuicao by 6.7% in the 2nd quarter. Northern Trust Corp now owns 448,973 shares of the company’s stock worth $8,971,000 after buying an additional 28,343 shares in the last quarter. Bank of Montreal Can bought a new position in Companhia Brasileira de Distribuicao in the 3rd quarter worth approximately $3,525,000. Comerica Bank bought a new position in Companhia Brasileira de Distribuicao in the 3rd quarter worth approximately $206,000. Wells Fargo & Company MN grew its holdings in Companhia Brasileira de Distribuicao by 164.8% in the 3rd quarter. Wells Fargo & Company MN now owns 6,040 shares of the company’s stock worth $131,000 after buying an additional 3,759 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. bought a new position in Companhia Brasileira de Distribuicao in the 3rd quarter worth approximately $1,139,000. Hedge funds and other institutional investors own 1.86% of the company’s stock.

A number of equities research analysts have weighed in on the company. ValuEngine downgraded Companhia Brasileira de Distribuicao from a “buy” rating to a “hold” rating in a research report on Friday. Zacks Investment Research downgraded Companhia Brasileira de Distribuicao from a “buy” rating to a “hold” rating in a research report on Tuesday, November 20th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $23.00.

CBD opened at $24.70 on Tuesday. The company has a market capitalization of $6.68 billion, a price-to-earnings ratio of 53.70, a PEG ratio of 1.06 and a beta of 1.51. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.20 and a quick ratio of 0.99. Companhia Brasileira de Distribuicao has a 1-year low of $17.91 and a 1-year high of $26.81.

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.

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