Thornburg Investment Management Inc. Reduces Stock Position in Sendas Distribuidora S.A. (NYSE:ASAI)

Thornburg Investment Management Inc. lessened its stake in Sendas Distribuidora S.A. (NYSE:ASAI) by 5.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 67,944 shares of the company’s stock after selling 3,776 shares during the quarter. Thornburg Investment Management Inc.’s holdings in Sendas Distribuidora were worth $685,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Jump Financial LLC acquired a new stake in shares of Sendas Distribuidora in the 4th quarter worth $143,000. Brandes Investment Partners LP boosted its holdings in Sendas Distribuidora by 146.1% in the 4th quarter. Brandes Investment Partners LP now owns 176,981 shares of the company’s stock valued at $2,446,000 after purchasing an additional 105,073 shares during the last quarter. Royal London Asset Management Ltd. grew its stake in shares of Sendas Distribuidora by 888.9% in 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 during the period. Breakout Capital Partners LP acquired a new stake in shares of Sendas Distribuidora during the 4th quarter worth approximately $13,347,000. Finally, PNC Financial Services Group Inc. raised its position in shares of Sendas Distribuidora by 29.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,479 shares of the company’s stock valued at $103,000 after buying an additional 1,713 shares during the period. Hedge funds and other institutional investors own 8.76% of the company’s stock.

Sendas Distribuidora Stock Performance

NYSE:ASAI opened at $8.06 on Friday. The stock has a market capitalization of $2.18 billion, a P/E ratio of 15.20, a PEG ratio of 0.55 and a beta of 1.04. 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 S.A. has a fifty-two week low of $7.72 and a fifty-two week high of $15.25. The company has a 50 day moving average price of $9.16 and a 200 day moving average price of $11.55.

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

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. downgraded Sendas Distribuidora from an “overweight” rating to a “neutral” rating and set a $10.50 target price on the stock. in a research report on Monday.

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.