Coronation Fund Managers Ltd. Purchases 1,422,458 Shares of Sendas Distribuidora S.A. (NYSE:ASAI)

Coronation Fund Managers Ltd. grew its position in Sendas Distribuidora S.A. (NYSE:ASAI) by 23.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,441,629 shares of the company’s stock after acquiring an additional 1,422,458 shares during the quarter. Sendas Distribuidora accounts for about 3.1% of Coronation Fund Managers Ltd.’s holdings, making the stock its 6th largest position. Coronation Fund Managers Ltd. owned 2.75% of Sendas Distribuidora worth $69,207,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of ASAI. SageView Advisory Group LLC bought a new stake in shares of Sendas Distribuidora in the 1st quarter valued at approximately $69,000. PNC Financial Services Group Inc. raised its stake in Sendas Distribuidora by 29.7% during the fourth 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 in the last quarter. Privium Fund Management B.V. lifted its holdings in shares of Sendas Distribuidora by 26.3% during the second 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 during the period. Bayesian Capital Management LP acquired a new stake in shares of Sendas Distribuidora in the 1st quarter valued at $160,000. Finally, Confluence Investment Management LLC bought a new stake in shares of Sendas Distribuidora in the 1st quarter worth about $171,000. 8.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ASAI has been the subject of several analyst reports. Bank of America downgraded shares of Sendas Distribuidora from a “buy” rating to a “neutral” rating and set a $9.10 price target for the company. in a report on Friday, September 13th. JPMorgan Chase & Co. lowered Sendas Distribuidora from an “overweight” rating to a “neutral” rating and set a $10.50 price target on the stock. in a research report on Monday, September 9th. Finally, Hsbc Global Res upgraded Sendas Distribuidora to a “strong-buy” rating in a research report on Tuesday, September 24th.

Sendas Distribuidora Stock Down 3.8 %

Shares of NYSE ASAI opened at $6.62 on Wednesday. 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 market cap of $1.79 billion, a price-to-earnings ratio of 12.49, a price-to-earnings-growth ratio of 0.61 and a beta of 1.04. Sendas Distribuidora S.A. has a 12-month low of $6.61 and a 12-month high of $15.25. The firm’s 50-day simple moving average is $8.46 and its 200 day simple moving average is $10.86.

Sendas Distribuidora (NYSE:ASAI) last announced its 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. The company 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%. On average, research analysts expect that Sendas Distribuidora S.A. will post 0.43 earnings per share for the current fiscal year.

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.