Companhia Brasileira de Distribuicao (NYSE:CBD) saw a large drop in short interest during the month of November. As of November 15th, there was short interest totalling 552,716 shares, a drop of 36.4% from the October 31st total of 869,063 shares. Based on an average daily trading volume, of 347,266 shares, the days-to-cover ratio is presently 1.6 days.

CBD has been the subject of a number of research reports. Credit Suisse Group upgraded shares of Companhia Brasileira de Distribuicao from a “neutral” rating to an “outperform” rating in a research note on Tuesday, November 7th. Zacks Investment Research lowered shares of Companhia Brasileira de Distribuicao from a “buy” rating to a “hold” rating in a research report on Monday, September 18th. Finally, UBS raised shares of Companhia Brasileira de Distribuicao from a “market perform” rating to an “outperform” rating in a research report on Tuesday, November 21st. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $28.00.

Large investors have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN increased its position in Companhia Brasileira de Distribuicao by 1,184.5% during the third quarter. Wells Fargo & Company MN now owns 4,817 shares of the company’s stock worth $114,000 after acquiring an additional 4,442 shares during the period. Comerica Bank bought a new position in Companhia Brasileira de Distribuicao during the third quarter worth about $209,000. FNY Partners Fund LP increased its position in Companhia Brasileira de Distribuicao by 8,900.0% during the second quarter. FNY Partners Fund LP now owns 9,000 shares of the company’s stock worth $175,000 after acquiring an additional 8,900 shares during the period. Highbridge Capital Management LLC bought a new position in Companhia Brasileira de Distribuicao during the third quarter worth about $225,000. Finally, World Asset Management Inc bought a new position in Companhia Brasileira de Distribuicao during the third quarter worth about $231,000. 3.33% of the stock is currently owned by institutional investors and hedge funds.

Companhia Brasileira de Distribuicao (CBD) opened at $22.46 on Wednesday. Companhia Brasileira de Distribuicao has a 1 year low of $14.41 and a 1 year high of $25.90. The company has a market cap of $6,030.00, a PE ratio of 23.57, a P/E/G ratio of 1.25 and a beta of 1.84. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.98 and a current ratio of 1.18.

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

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About Companhia Brasileira de Distribuicao

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.

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