Compania Cervecerias Unidas (NYSE:CCU) Price Target Lowered to $10.00 at The Goldman Sachs Group

Key Points

• The Goldman Sachs Group has reduced its price target for Compania Cervecerias Unidas (NYSE:CCU) from $11.50 to $10.00, indicating a potential downside of 17.36% from the current stock price.
• Despite the downgrade, shares of Compania Cervecerias Unidas rose by 2.4% during mid-day trading, reaching $12.10.
• Institutional investors and hedge funds currently own 24.07% of the company's stock, indicating ongoing interest from major financial players.

Compania Cervecerias Unidas (NYSE:CCU - Free Report) had its target price reduced by The Goldman Sachs Group from $11.50 to $10.00 in a report issued on Thursday morning,Benzinga reports. The Goldman Sachs Group currently has a sell rating on the stock.

Compania Cervecerias Unidas Stock Up 0.1%

Shares of CCU stock traded up $0.01 during mid-day trading on Thursday, reaching $12.24. 70,377 shares of the company's stock traded hands, compared to its average volume of 201,941. Compania Cervecerias Unidas has a 12 month low of $10.03 and a 12 month high of $15.75. The company has a market cap of $2.26 billion, a P/E ratio of 14.40, a P/E/G ratio of 1.22 and a beta of 0.73. The company has a quick ratio of 1.43, a current ratio of 2.14 and a debt-to-equity ratio of 0.68. The company's 50-day moving average price is $12.22 and its 200-day moving average price is $13.58.

Institutional Trading of Compania Cervecerias Unidas

Several hedge funds and other institutional investors have recently bought and sold shares of CCU. GAMMA Investing LLC increased its stake in shares of Compania Cervecerias Unidas by 67.1% during the first quarter. GAMMA Investing LLC now owns 2,600 shares of the company's stock valued at $40,000 after buying an additional 1,044 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of Compania Cervecerias Unidas by 1,252.7% in the second quarter. EverSource Wealth Advisors LLC now owns 3,233 shares of the company's stock valued at $42,000 after buying an additional 2,994 shares in the last quarter. Rhumbline Advisers increased its position in shares of Compania Cervecerias Unidas by 140.6% during the first quarter. Rhumbline Advisers now owns 6,555 shares of the company's stock worth $100,000 after purchasing an additional 3,831 shares in the last quarter. QRG Capital Management Inc. acquired a new position in Compania Cervecerias Unidas during the first quarter worth $165,000. Finally, Diversified Trust Co purchased a new position in shares of Compania Cervecerias Unidas during the 2nd quarter worth $155,000. Hedge funds and other institutional investors own 24.07% of the company's stock.

Compania Cervecerias Unidas Company Profile

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.