Sendas Distribuidora S.A. (NYSE:ASAI) Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC trimmed its stake in Sendas Distribuidora S.A. (NYSE:ASAI) by 12.6% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 103,869 shares of the company’s stock after selling 14,921 shares during the period. Hsbc Holdings PLC’s holdings in Sendas Distribuidora were worth $965,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. Royal London Asset Management Ltd. lifted its stake 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 worth $4,256,000 after acquiring an additional 276,826 shares in the last quarter. Breakout Capital Partners LP purchased a new position in Sendas Distribuidora in the fourth quarter valued at $13,347,000. PNC Financial Services Group Inc. grew its stake in Sendas Distribuidora by 29.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,479 shares of the company’s stock worth $103,000 after purchasing an additional 1,713 shares in the last quarter. Confluence Investment Management LLC purchased a new stake in Sendas Distribuidora during the 1st quarter worth about $171,000. Finally, Renaissance Group LLC raised its position in Sendas Distribuidora by 6.8% in the 1st quarter. Renaissance Group LLC now owns 531,101 shares of the company’s stock valued at $7,876,000 after purchasing an additional 33,937 shares in the last quarter. 8.76% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have commented on ASAI shares. Bank of America cut 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. downgraded shares of Sendas Distribuidora from an “overweight” rating to a “neutral” rating and set a $10.50 target price for the company. in a research note on Monday, September 9th. Finally, Hsbc Global Res upgraded Sendas Distribuidora to a “strong-buy” rating in a research note on Tuesday, September 24th.

Sendas Distribuidora Stock Performance

Shares of ASAI opened at $7.52 on Friday. The company has a market capitalization of $2.03 billion, a price-to-earnings ratio of 14.19, a price-to-earnings-growth ratio of 0.61 and a beta of 1.04. Sendas Distribuidora S.A. has a 52-week low of $6.94 and a 52-week high of $15.25. 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 stock has a 50 day moving average price of $8.58 and a 200 day moving average price of $10.99.

Sendas Distribuidora (NYSE:ASAI) last issued its earnings results on Thursday, August 8th. The company reported $0.09 earnings per share (EPS) 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 analysts’ expectations of $3.60 billion. Sendas Distribuidora had a net margin of 0.95% and a return on equity of 14.49%. Research analysts predict that Sendas Distribuidora S.A. will post 0.43 EPS for the current fiscal year.

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.