Brandes Investment Partners LP Sells 16,844 Shares of Sendas Distribuidora S.A. (NYSE:ASAI)

Brandes Investment Partners LP cut its position in Sendas Distribuidora S.A. (NYSE:ASAI) by 10.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 143,990 shares of the company’s stock after selling 16,844 shares during the quarter. Brandes Investment Partners LP owned about 0.05% of Sendas Distribuidora worth $1,369,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. SageView Advisory Group LLC acquired a new position in shares of Sendas Distribuidora during the 1st quarter worth approximately $69,000. PNC Financial Services Group Inc. increased its stake in Sendas Distribuidora by 29.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,479 shares of the company’s stock worth $103,000 after acquiring an additional 1,713 shares during the period. Privium Fund Management B.V. raised its holdings in Sendas Distribuidora by 26.3% in the 2nd quarter. Privium Fund Management B.V. now owns 13,928 shares of the company’s stock valued at $122,000 after acquiring an additional 2,900 shares in the last quarter. Bayesian Capital Management LP bought a new stake in shares of Sendas Distribuidora during the 1st quarter valued at $160,000. Finally, Confluence Investment Management LLC acquired a new stake in shares of Sendas Distribuidora during the 1st quarter worth $171,000. 8.76% of the stock is owned by institutional investors and hedge funds.

Sendas Distribuidora Price Performance

Shares of NYSE:ASAI opened at $6.88 on Tuesday. The firm has a market cap of $1.86 billion, a PE ratio of 12.98, a price-to-earnings-growth ratio of 0.61 and a beta of 1.04. Sendas Distribuidora S.A. has a 52 week low of $6.70 and a 52 week high of $15.25. The firm’s fifty day moving average is $8.52 and its 200-day moving average is $10.91. The company has a debt-to-equity ratio of 4.18, a quick ratio of 0.45 and a current ratio of 0.84.

Sendas Distribuidora (NYSE:ASAI) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.02. Sendas Distribuidora had a net margin of 0.95% and a return on equity of 14.49%. The firm had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.60 billion. Sell-side analysts predict that Sendas Distribuidora S.A. will post 0.43 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. cut shares of Sendas Distribuidora from an “overweight” rating to a “neutral” rating and set a $10.50 price objective for the company. in a research report on Monday, September 9th. Hsbc Global Res raised shares of Sendas Distribuidora to a “strong-buy” rating in a report on Tuesday, September 24th. Finally, Bank of America cut shares of Sendas Distribuidora from a “buy” rating to a “neutral” rating and set a $9.10 price objective on the stock. in a research note on Friday, September 13th.

About Sendas Distribuidora

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.