Sendas Distribuidora (NYSE:ASAI) Shares Down 3.6%

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

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. increased 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 company has a debt-to-equity ratio of 4.18, a quick ratio of 0.45 and a current ratio of 0.84. The company has a market cap of $2.25 billion, a PE ratio of 15.74, a price-to-earnings-growth ratio of 0.55 and a beta of 1.04. The company’s 50 day moving average price is $9.25 and its 200-day moving average price is $11.73.

Sendas Distribuidora (NYSE:ASAI) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.02. The business 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 anticipate that Sendas Distribuidora S.A. will post 0.49 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sendas Distribuidora

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Coronation Fund Managers Ltd. boosted its holdings in shares of Sendas Distribuidora by 35.2% in the second quarter. Coronation Fund Managers Ltd. now owns 8,135,612 shares of the company’s stock worth $75,661,000 after acquiring an additional 2,116,441 shares during the period. Breakout Capital Partners LP bought a new position in Sendas Distribuidora in the 4th quarter worth about $13,347,000. Royal London Asset Management Ltd. grew its holdings in Sendas Distribuidora by 888.9% during the 4th quarter. Royal London Asset Management Ltd. now owns 307,970 shares of the company’s stock valued at $4,256,000 after buying an additional 276,826 shares in the last quarter. Brandes Investment Partners LP increased its position in shares of Sendas Distribuidora by 146.1% during the fourth quarter. Brandes Investment Partners LP now owns 176,981 shares of the company’s stock valued at $2,446,000 after buying an additional 105,073 shares during the period. Finally, Barings LLC lifted its holdings in shares of Sendas Distribuidora by 28.9% in the first quarter. Barings LLC now owns 403,015 shares of the company’s stock worth $5,957,000 after buying an additional 90,256 shares in the last quarter. Institutional investors own 8.76% of the company’s stock.

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.