Coronation Fund Managers Ltd. Sells 550,871 Shares of Sendas Distribuidora S.A. (NYSE:ASAI)

Coronation Fund Managers Ltd. lowered its position in Sendas Distribuidora S.A. (NYSE:ASAI - Free Report) by 7.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,890,758 shares of the company's stock after selling 550,871 shares during the period. Sendas Distribuidora accounts for 2.6% of Coronation Fund Managers Ltd.'s portfolio, making the stock its 11th largest holding. Coronation Fund Managers Ltd. owned 2.55% of Sendas Distribuidora worth $47,408,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Signaturefd LLC boosted its position in Sendas Distribuidora by 186.4% during the third quarter. Signaturefd LLC now owns 10,091 shares of the company's stock worth $69,000 after purchasing an additional 6,567 shares during the period. Sequoia Financial Advisors LLC bought a new stake in Sendas Distribuidora during the third quarter worth approximately $77,000. Blue Trust Inc. boosted its position in Sendas Distribuidora by 145.6% during the third quarter. Blue Trust Inc. now owns 3,716 shares of the company's stock worth $26,000 after purchasing an additional 2,203 shares during the period. Creative Planning boosted its position in Sendas Distribuidora by 110.0% during the third quarter. Creative Planning now owns 36,339 shares of the company's stock worth $250,000 after purchasing an additional 19,034 shares during the period. Finally, SPX Gestao de Recursos Ltda boosted its position in Sendas Distribuidora by 13.3% during the second quarter. SPX Gestao de Recursos Ltda now owns 81,733 shares of the company's stock worth $760,000 after purchasing an additional 9,607 shares during the period. Institutional investors and hedge funds own 8.76% of the company's stock.

Sendas Distribuidora Stock Performance

Shares of ASAI traded down $0.17 during mid-day trading on Friday, hitting $6.33. The company's stock had a trading volume of 311,355 shares, compared to its average volume of 586,868. Sendas Distribuidora S.A. has a one year low of $5.73 and a one year high of $15.25. 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 firm has a market capitalization of $1.71 billion, a PE ratio of 12.66, a price-to-earnings-growth ratio of 0.52 and a beta of 1.03. The stock's 50-day moving average is $7.20 and its two-hundred day moving average is $9.61.

Sendas Distribuidora (NYSE:ASAI - Get Free Report) last posted 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 company had revenue of $3.43 billion during the quarter, compared to analysts' expectations of $3.60 billion. Sendas Distribuidora had a return on equity of 14.49% and a net margin of 0.95%. As a group, sell-side analysts anticipate that Sendas Distribuidora S.A. will post 0.46 EPS for the current year.

Wall Street Analyst Weigh In

ASAI has been the subject of a number of recent analyst reports. Bank of America cut Sendas Distribuidora from a "buy" rating to a "neutral" rating and set a $9.10 target price for the company. in a research report on Friday, September 13th. JPMorgan Chase & Co. cut 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. Finally, Hsbc Global Res raised Sendas Distribuidora to a "strong-buy" rating in a research report on Tuesday, September 24th.

Sendas Distribuidora 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.