Sendas Distribuidora (NYSE:ASAI) Trading Down 3.6%

Sendas Distribuidora S.A. (NYSE:ASAI)’s stock price dropped 3.6% during trading on Thursday . The stock traded as low as $8.51 and last traded at $8.51. Approximately 29,009 shares traded hands during mid-day trading, a decline of 91% from the average daily volume of 321,347 shares. The stock had previously closed at $8.83.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. boosted their price target on shares of Sendas Distribuidora from $17.00 to $18.00 and gave the company an “overweight” rating in a research report on Tuesday, July 23rd.

Sendas Distribuidora Stock Performance

The firm has a market capitalization of $2.25 billion, a PE ratio of 15.74, a PEG ratio of 0.55 and a beta of 1.04. The company has a quick ratio of 0.45, a current ratio of 0.84 and a debt-to-equity ratio of 4.18. The company has a 50-day moving average of $9.25 and a 200 day moving average of $11.73.

Sendas Distribuidora (NYSE:ASAI) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.07 by $0.02. The company had revenue of $3.43 billion during the quarter, compared to analyst estimates of $3.60 billion. Sendas Distribuidora had a return on equity of 14.49% and a net margin of 0.95%. Equities research analysts predict that Sendas Distribuidora S.A. will post 0.49 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Coronation Fund Managers Ltd. raised its position in Sendas Distribuidora by 35.2% during the second quarter. Coronation Fund Managers Ltd. now owns 8,135,612 shares of the company’s stock valued at $75,661,000 after purchasing an additional 2,116,441 shares in the last quarter. Vanguard Group Inc. lifted its position in Sendas Distribuidora by 6.0% in the 1st quarter. Vanguard Group Inc. now owns 1,124,903 shares of the company’s stock worth $16,626,000 after buying an additional 63,227 shares during the last quarter. Breakout Capital Partners LP bought a new stake in Sendas Distribuidora in the 4th quarter worth approximately $13,347,000. Renaissance Group LLC boosted its stake in Sendas Distribuidora by 6.8% in the first quarter. Renaissance Group LLC now owns 531,101 shares of the company’s stock worth $7,876,000 after buying an additional 33,937 shares in the last quarter. Finally, Barings LLC grew its position in Sendas Distribuidora by 28.9% during the first quarter. Barings LLC now owns 403,015 shares of the company’s stock valued at $5,957,000 after acquiring an additional 90,256 shares during the last quarter. 8.76% of the stock is currently 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.