California Public Employees Retirement System lowered its position in Cosan Ltd (NYSE:CZZ) by 22.8% during the second quarter, HoldingsChannel reports. The firm owned 287,551 shares of the basic materials company’s stock after selling 84,973 shares during the quarter. California Public Employees Retirement System’s holdings in Cosan were worth $2,194,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Campbell & CO Investment Adviser LLC purchased a new position in Cosan in the second quarter valued at about $121,000. Regal Investment Advisors LLC purchased a new position in Cosan in the second quarter valued at about $126,000. Barclays PLC grew its stake in Cosan by 71.0% in the first quarter. Barclays PLC now owns 13,232 shares of the basic materials company’s stock valued at $137,000 after purchasing an additional 5,492 shares in the last quarter. Cambria Investment Management L.P. purchased a new position in Cosan in the second quarter valued at about $188,000. Finally, CIBC World Markets Inc. purchased a new position in Cosan in the second quarter valued at about $192,000. Hedge funds and other institutional investors own 26.81% of the company’s stock.
CZZ has been the topic of a number of recent research reports. Zacks Investment Research downgraded Cosan from a “hold” rating to a “strong sell” rating in a research note on Friday, September 7th. ValuEngine upgraded Cosan from a “sell” rating to a “hold” rating in a research note on Wednesday, October 24th. Finally, Credit Suisse Group downgraded Cosan from an “outperform” rating to a “neutral” rating in a research note on Monday, July 23rd. Five investment analysts have rated the stock with a hold rating, Cosan has an average rating of “Hold” and an average price target of $12.50.
Cosan (NYSE:CZZ) last released its quarterly earnings results on Friday, August 10th. The basic materials company reported $0.13 earnings per share (EPS) for the quarter. The company had revenue of $1.14 billion during the quarter. Cosan had a return on equity of 4.77% and a net margin of 4.79%. On average, equities research analysts forecast that Cosan Ltd will post 0.58 earnings per share for the current year.
Cosan Company Profile
Cosan Limited, together with its subsidiaries, engages in fuel and natural gas distribution, logistics, lubricant, sugar and ethanol businesses primarily in Brazil and internationally. The company's Raízen Energia produces and markets products derived from sugar cane, including raw sugar, anhydrous, and hydrated ethanol, as well as activities related to energy cogeneration from sugarcane bagasse.
Further Reading: How to Invest in Growth Stocks
Want to see what other hedge funds are holding CZZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cosan Ltd (NYSE:CZZ).
Receive News & Ratings for Cosan Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cosan and related companies with MarketBeat.com's FREE daily email newsletter.