Bank of America cut shares of Sendas Distribuidora (NYSE:ASAI – Free Report) from a buy rating to a neutral rating in a research report sent to investors on Friday morning, MarketBeat Ratings reports. Bank of America currently has $9.10 price objective on the stock.
Separately, JPMorgan Chase & Co. lowered shares of Sendas Distribuidora from an overweight rating to a neutral rating and set a $10.50 price objective on the stock. in a report on Monday, September 9th.
Check Out Our Latest Stock Report on Sendas Distribuidora
Sendas Distribuidora Stock Performance
Sendas Distribuidora (NYSE:ASAI – Get Free Report) last issued its earnings results on Thursday, August 8th. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.02. The business had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.60 billion. Sendas Distribuidora had a net margin of 0.95% and a return on equity of 14.49%. As a group, equities analysts predict that Sendas Distribuidora will post 0.44 EPS for the current year.
Hedge Funds Weigh In On Sendas Distribuidora
Several institutional investors have recently bought and sold shares of the business. SageView Advisory Group LLC acquired a new stake in Sendas Distribuidora in the first quarter valued at approximately $69,000. PNC Financial Services Group Inc. boosted its stake in Sendas Distribuidora by 29.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 7,479 shares of the company’s stock valued at $103,000 after acquiring an additional 1,713 shares in the last quarter. Jump Financial LLC acquired a new stake in Sendas Distribuidora in the fourth quarter valued at approximately $143,000. Bayesian Capital Management LP acquired a new stake in Sendas Distribuidora in the first quarter valued at approximately $160,000. Finally, Privium Fund Management B.V. acquired a new stake in Sendas Distribuidora in the first quarter valued at approximately $163,000. 8.76% of the stock is owned by hedge funds and other institutional investors.
Sendas Distribuidora Company Profile
Sendas Distribuidora SA engages in the retail and wholesale sale of food products, bazaar items, and other products in Brazil. The company serves restaurants, pizzerias, snack bars, schools, small businesses, religious institutions, hospitals, hotels, grocery stores, neighborhood supermarkets, and individuals.
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