Compania Cervecerias Unidas (NYSE:CCU) Shares Pass Above 200 Day Moving Average – Here’s What Happened

Shares of Compania Cervecerias Unidas, S.A. (NYSE:CCU) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $12.81 and traded as high as $14.95. Compania Cervecerias Unidas shares last traded at $14.79, with a volume of 206,940 shares.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CCU. JPMorgan Chase & Co. lifted their price target on shares of Compania Cervecerias Unidas from $10.00 to $14.00 and gave the company an “underweight” rating in a report on Monday, February 2nd. Zacks Research upgraded shares of Compania Cervecerias Unidas from a “strong sell” rating to a “hold” rating in a research report on Monday, February 2nd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Compania Cervecerias Unidas in a research note on Monday, December 29th. Three equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $12.00.

Compania Cervecerias Unidas Price Performance

The company has a 50 day moving average price of $13.69 and a 200-day moving average price of $12.81. The company has a market cap of $2.73 billion, a price-to-earnings ratio of 19.21, a P/E/G ratio of 4.19 and a beta of 0.49. The company has a quick ratio of 1.38, a current ratio of 2.06 and a debt-to-equity ratio of 0.69.

Institutional Trading of Compania Cervecerias Unidas

A number of institutional investors and hedge funds have recently bought and sold shares of CCU. Wellington Management Group LLP lifted its holdings in Compania Cervecerias Unidas by 27.2% during the 3rd quarter. Wellington Management Group LLP now owns 2,461,212 shares of the company’s stock worth $29,830,000 after buying an additional 526,665 shares during the period. Empowered Funds LLC bought a new position in shares of Compania Cervecerias Unidas during the fourth quarter worth about $6,748,000. Acadian Asset Management LLC lifted its stake in shares of Compania Cervecerias Unidas by 130.1% in the second quarter. Acadian Asset Management LLC now owns 487,149 shares of the company’s stock worth $6,285,000 after acquiring an additional 275,435 shares during the period. Bank of America Corp DE boosted its holdings in Compania Cervecerias Unidas by 7.8% in the third quarter. Bank of America Corp DE now owns 304,785 shares of the company’s stock valued at $3,694,000 after acquiring an additional 22,008 shares during the last quarter. Finally, Marshall Wace LLP increased its position in Compania Cervecerias Unidas by 83.8% during the 2nd quarter. Marshall Wace LLP now owns 255,380 shares of the company’s stock valued at $3,300,000 after purchasing an additional 116,418 shares during the period. 24.07% of the stock is currently owned by institutional investors and hedge funds.

About Compania Cervecerias Unidas

Compañía Cervecerías Unidas SA (NYSE: CCU) is a Chile-based beverages company with operations across Latin America. The company engages in the production, marketing and distribution of beer, soft drinks, wines, mineral water and other non-alcoholic beverages. Through a combination of owned brands and licensing agreements, CCU serves both domestic and export markets with a diversified portfolio designed to meet evolving consumer tastes.

In its beer segment, CCU produces flagship brands such as Cristal, Escudo and Royal Guard, while also brewing international labels under license, including Heineken in select markets.