Companhia Brasileira de Distribuicao (NYSE:CBD) was the target of a significant drop in short interest in 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 trading volume of 347,266 shares, the days-to-cover ratio is presently 1.6 days.

Several institutional investors and hedge funds have recently bought and sold shares of CBD. BT Investment Management Ltd purchased a new stake in Companhia Brasileira de Distribuicao during the 2nd quarter valued at about $14,124,000. Lord Abbett & CO. LLC purchased a new stake in shares of Companhia Brasileira de Distribuicao in the 2nd quarter worth approximately $8,809,000. INCA Investments LLC grew its stake in shares of Companhia Brasileira de Distribuicao by 16.3% in the 2nd quarter. INCA Investments LLC now owns 1,878,300 shares of the company’s stock worth $36,721,000 after buying an additional 263,800 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Companhia Brasileira de Distribuicao by 210.6% during the 2nd quarter. Goldman Sachs Group Inc. now owns 362,761 shares of the company’s stock valued at $7,092,000 after purchasing an additional 245,959 shares during the last quarter. Finally, Banco BTG Pactual S.A. purchased a new stake in Companhia Brasileira de Distribuicao during the 2nd quarter valued at $2,917,000. Hedge funds and other institutional investors own 3.33% of the company’s stock.

A number of brokerages recently commented on CBD. UBS raised shares of Companhia Brasileira de Distribuicao from a “market perform” rating to an “outperform” rating in a research note on Tuesday, November 21st. Zacks Investment Research raised shares of Companhia Brasileira de Distribuicao from a “hold” rating to a “buy” rating and set a $28.00 price objective on the stock in a research report on Tuesday, September 26th. Finally, Credit Suisse Group raised Companhia Brasileira de Distribuicao from a “neutral” rating to an “outperform” rating in a report on Tuesday, November 7th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $28.00.

Companhia Brasileira de Distribuicao (CBD) opened at $21.27 on Friday. The stock has a market capitalization of $6,083.10, a P/E ratio of 24.84, a P/E/G ratio of 1.32 and a beta of 1.89. The company has a current ratio of 1.18, a quick ratio of 0.98 and a debt-to-equity ratio of 0.26. Companhia Brasileira de Distribuicao has a 1 year low of $14.08 and a 1 year high of $25.90.

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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.

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