Compañía Cervecerías Unidas (NYSE:CCU) Given New $9.40 Price Target at The Goldman Sachs Group

Compañía Cervecerías Unidas (NYSE:CCU) had its price objective reduced by stock analysts at The Goldman Sachs Group from $10.50 to $9.40 in a research note issued on Tuesday,Benzinga reports. The firm presently has a “sell” rating on the stock. The Goldman Sachs Group’s price target suggests a potential downside of 12.07% from the stock’s current price.

Several other research firms have also issued reports on CCU. StockNews.com upgraded Compañía Cervecerías Unidas from a “hold” rating to a “buy” rating in a report on Tuesday, August 20th. Scotiabank upgraded Compañía Cervecerías Unidas from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Finally, JPMorgan Chase & Co. cut shares of Compañía Cervecerías Unidas from an “overweight” rating to an “underweight” rating and decreased their target price for the company from $21.00 to $10.00 in a research note on Thursday, August 8th. Three research analysts have rated the stock with a sell rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $12.08.

Compañía Cervecerías Unidas Stock Down 1.7 %

Compañía Cervecerías Unidas stock traded down $0.19 during mid-day trading on Tuesday, reaching $10.69. The company’s stock had a trading volume of 34,223 shares, compared to its average volume of 153,179. The company has a quick ratio of 1.60, a current ratio of 2.06 and a debt-to-equity ratio of 0.80. Compañía Cervecerías Unidas has a 12 month low of $10.00 and a 12 month high of $13.74. The business’s 50 day simple moving average is $11.01 and its 200 day simple moving average is $11.59.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Naples Global Advisors LLC lifted its holdings in Compañía Cervecerías Unidas by 12.6% during the 2nd quarter. Naples Global Advisors LLC now owns 33,595 shares of the company’s stock valued at $382,000 after purchasing an additional 3,750 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Compañía Cervecerías Unidas by 55.3% during the 2nd quarter. Blue Trust Inc. now owns 18,231 shares of the company’s stock worth $219,000 after buying an additional 6,495 shares during the period. Ritholtz Wealth Management acquired a new position in Compañía Cervecerías Unidas in the 2nd quarter valued at about $146,000. Malaga Cove Capital LLC raised its holdings in Compañía Cervecerías Unidas by 39.8% in the 2nd quarter. Malaga Cove Capital LLC now owns 57,632 shares of the company’s stock valued at $656,000 after acquiring an additional 16,396 shares during the period. Finally, American Century Companies Inc. lifted its position in Compañía Cervecerías Unidas by 37.5% during the second quarter. American Century Companies Inc. now owns 79,367 shares of the company’s stock worth $903,000 after acquiring an additional 21,630 shares during the last quarter. 24.07% of the stock is currently owned by institutional investors.

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.