Compañía Cervecerías Unidas (NYSE:CCU) Price Target Cut to $9.40 by Analysts at The Goldman Sachs Group

Compañía Cervecerías Unidas (NYSE:CCU) had its target price trimmed by The Goldman Sachs Group from $10.50 to $9.40 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a sell rating on the stock.

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

Compañía Cervecerías Unidas Price Performance

Shares of NYSE CCU opened at $10.74 on Tuesday. Compañía Cervecerías Unidas has a 12-month low of $10.00 and a 12-month high of $13.74. The stock has a 50 day simple moving average of $11.01 and a 200-day simple moving average of $11.58. The company has a current ratio of 2.06, a quick ratio of 1.60 and a debt-to-equity ratio of 0.80.

Hedge Funds Weigh In On Compañía Cervecerías Unidas

Several hedge funds have recently made changes to their positions in CCU. Blue Trust Inc. boosted its stake in shares of Compañía Cervecerías Unidas by 75.0% during the 3rd quarter. Blue Trust Inc. now owns 31,899 shares of the company’s stock worth $363,000 after acquiring an additional 13,668 shares in the last quarter. Genesis Investment Management LLP lifted its holdings in shares of Compañía Cervecerías Unidas by 33.9% during the third quarter. Genesis Investment Management LLP now owns 1,590,258 shares of the company’s stock valued at $18,495,000 after purchasing an additional 402,593 shares during the last quarter. First Eagle Investment Management LLC boosted its position in shares of Compañía Cervecerías Unidas by 1.2% in the 2nd quarter. First Eagle Investment Management LLC now owns 15,741,885 shares of the company’s stock valued at $179,143,000 after purchasing an additional 184,970 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Compañía Cervecerías Unidas by 82.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 166,734 shares of the company’s stock valued at $1,897,000 after purchasing an additional 75,147 shares during the period. Finally, American Century Companies Inc. increased its stake in Compañía Cervecerías Unidas by 37.5% in the 2nd quarter. American Century Companies Inc. now owns 79,367 shares of the company’s stock worth $903,000 after purchasing an additional 21,630 shares in the last quarter. 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.