The Goldman Sachs Group Lowers Compañía Cervecerías Unidas (NYSE:CCU) Price Target to $9.40

Compañía Cervecerías Unidas (NYSE:CCU) had its target price dropped by research analysts at The Goldman Sachs Group from $10.50 to $9.40 in a report released on Tuesday,Benzinga reports. The brokerage currently has a “sell” rating on the stock. The Goldman Sachs Group’s price target points to a potential downside of 13.44% from the stock’s previous close.

Other analysts also recently issued reports about the company. JPMorgan Chase & Co. downgraded Compañía Cervecerías Unidas from an “overweight” rating to an “underweight” rating and decreased their price objective for the company from $21.00 to $10.00 in a report on Thursday, August 8th. StockNews.com upgraded Compañía Cervecerías Unidas from a “hold” rating to a “buy” rating in a report on Tuesday, August 20th. Finally, Scotiabank raised shares of Compañía Cervecerías Unidas from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Three equities research analysts have rated the stock with a sell rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $12.08.

Compañía Cervecerías Unidas Price Performance

CCU stock opened at $10.86 on Tuesday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.44 and a current ratio of 2.06. The business has a 50-day moving average price of $11.01 and a 200 day moving average price of $11.57. Compañía Cervecerías Unidas has a 1-year low of $10.00 and a 1-year high of $13.74.

Hedge Funds Weigh In On Compañía Cervecerías Unidas

Several hedge funds and other institutional investors have recently bought and sold shares of CCU. Genesis Investment Management LLP grew its stake in shares of Compañía Cervecerías Unidas by 33.9% during the 3rd quarter. Genesis Investment Management LLP now owns 1,590,258 shares of the company’s stock worth $18,495,000 after purchasing an additional 402,593 shares during the period. Ninety One UK Ltd acquired a new stake in shares of Compañía Cervecerías Unidas during the 2nd quarter worth approximately $2,121,000. First Eagle Investment Management LLC grew its stake in shares of Compañía Cervecerías Unidas by 1.2% during the 2nd quarter. First Eagle Investment Management LLC now owns 15,741,885 shares of the company’s stock worth $179,143,000 after purchasing an additional 184,970 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Compañía Cervecerías Unidas by 82.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 166,734 shares of the company’s stock worth $1,897,000 after purchasing an additional 75,147 shares during the period. Finally, Privium Fund Management UK Ltd grew its stake in shares of Compañía Cervecerías Unidas by 98.1% during the 2nd quarter. Privium Fund Management UK Ltd now owns 120,892 shares of the company’s stock worth $1,348,000 after purchasing an additional 59,863 shares during the period. Institutional investors and hedge funds own 24.07% of the company’s stock.

About Compañía Cervecerías Unidas

Compañía Cervecerías Unidas SA operates as a beverage company in Chile, Argentina, Bolivia, Colombia, Paraguay, and Uruguay. The company operates through three segments: Chile, International Business, and Wine. It produces and sells alcoholic and non-alcoholic beer under proprietary and licensed brands, as well as distributes Pernod Ricard products in non-supermarket retail stores.