Sendas Distribuidora (NYSE:ASAI) Trading Down 2.7% – Here’s Why

Shares of Sendas Distribuidora S.A. (NYSE:ASAI) traded down 2.7% on Friday . The company traded as low as $4.28 and last traded at $4.31. 56,151 shares were traded during trading, a decline of 69% from the average session volume of 179,676 shares. The stock had previously closed at $4.43.

Wall Street Analyst Weigh In

Several equities analysts have commented on ASAI shares. JPMorgan Chase & Co. cut Sendas Distribuidora from an “overweight” rating to a “neutral” rating and set a $10.50 price target for the company. in a report on Monday, September 9th. 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. Finally, Hsbc Global Res raised shares of Sendas Distribuidora to a “strong-buy” rating in a report on Tuesday, September 24th.

Sendas Distribuidora Stock Performance

The company has a debt-to-equity ratio of 4.15, a quick ratio of 0.43 and a current ratio of 0.86. The firm has a 50 day moving average price of $5.56 and a two-hundred day moving average price of $7.42. The company has a market capitalization of $1.16 billion, a P/E ratio of 9.35, a price-to-earnings-growth ratio of 0.44 and a beta of 0.92.

Sendas Distribuidora Cuts Dividend

The business also recently disclosed a — dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, January 10th will be issued a dividend of $0.0488 per share. The ex-dividend date of this dividend is Friday, January 10th. Sendas Distribuidora’s payout ratio is presently 10.87%.

Institutional Investors Weigh In On Sendas Distribuidora

Several large investors have recently made changes to their positions in ASAI. Daiwa Securities Group Inc. grew its stake in Sendas Distribuidora by 66.7% during the second quarter. Daiwa Securities Group Inc. now owns 35,000 shares of the company’s stock worth $326,000 after buying an additional 14,000 shares during the last quarter. Renaissance Technologies LLC bought a new stake in Sendas Distribuidora during the 2nd quarter worth approximately $810,000. Marshall Wace LLP acquired a new stake in Sendas Distribuidora during the 2nd quarter valued at $212,000. AQR Capital Management LLC raised its position in Sendas Distribuidora by 44.4% in the 2nd quarter. AQR Capital Management LLC now owns 19,738 shares of the company’s stock valued at $184,000 after purchasing an additional 6,068 shares during the last quarter. Finally, SPX Gestao de Recursos Ltda boosted its stake in Sendas Distribuidora by 13.3% in 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 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.