JPMorgan Chase & Co. Downgrades Compania Cervecerias Unidas (CCU) to Underweight
Compania Cervecerias Unidas (NYSE:CCU) was downgraded by JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating in a research note issued on Wednesday.
CCU has been the topic of a number of other research reports. Zacks Investment Research lowered Compania Cervecerias Unidas from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 19th. TheStreet lowered Compania Cervecerias Unidas from a “buy” rating to a “hold” rating in a report on Tuesday, September 13th. Finally, Citigroup Inc. lowered Compania Cervecerias Unidas from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $25.50 to $24.50 in a report on Monday, August 29th. Two investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. Compania Cervecerias Unidas currently has a consensus rating of “Hold” and a consensus price target of $24.88.
Shares of Compania Cervecerias Unidas (NYSE:CCU) opened at 20.07 on Wednesday. Compania Cervecerias Unidas has a 52 week low of $18.78 and a 52 week high of $25.27. The firm has a 50 day moving average price of $21.02 and a 200-day moving average price of $22.03. The firm has a market capitalization of $3.71 billion, a P/E ratio of 22.35 and a beta of 0.67.
A number of hedge funds have recently bought and sold shares of CCU. World Asset Management Inc increased its stake in Compania Cervecerias Unidas by 8.1% in the second quarter. World Asset Management Inc now owns 11,443 shares of the company’s stock worth $267,000 after buying an additional 862 shares during the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of Compania Cervecerias Unidas during the second quarter valued at about $283,000. AXA increased its stake in shares of Compania Cervecerias Unidas by 3,075.0% in the first quarter. AXA now owns 12,700 shares of the company’s stock valued at $285,000 after buying an additional 12,300 shares in the last quarter. Americafirst Capital Management LLC bought a new stake in shares of Compania Cervecerias Unidas during the second quarter valued at about $332,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Compania Cervecerias Unidas during the second quarter valued at about $532,000. Institutional investors own 15.00% of the company’s stock.
About Compania Cervecerias Unidas
Compania Cervecerias Unidas SA is a beverage company. The Company operates as a brewer, soft drinks producer, water and nectar producer, wine producer and pisco distributor. It also participates in the home and office delivery (HOD), rum and confectionery industries in Chile; in the beer, water and soft drinks industries in Uruguay, and in the soft drinks, water and nectar industries and beer distribution in Paraguay and Bolivia.
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