JPMorgan Chase & Co. Lowers Compania Cervecerias Unidas (CCU) to Underweight
Compania Cervecerias Unidas (NYSE:CCU) was downgraded by equities researchers at JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating in a research report issued on Wednesday.
Other analysts have also recently issued reports about the stock. Zacks Investment Research cut shares of Compania Cervecerias Unidas from a “hold” rating to a “sell” rating in a research note on Friday, August 19th. TheStreet cut shares of Compania Cervecerias Unidas from a “buy” rating to a “hold” rating in a research note on Tuesday, September 13th. Finally, Citigroup Inc. cut shares of Compania Cervecerias Unidas from a “buy” rating to a “neutral” rating and reduced their target price for the company from $25.50 to $24.50 in a research note on Monday, August 29th. Two investment analysts have rated the stock with a sell rating and four have issued a hold rating to the company. The stock has a consensus rating of “Hold” and an average price target of $24.88.
Compania Cervecerias Unidas (NYSE:CCU) traded up 0.30% on Wednesday, hitting $19.89. 359,544 shares of the stock were exchanged. Compania Cervecerias Unidas has a 1-year low of $18.78 and a 1-year high of $25.27. The stock has a market cap of $3.67 billion, a PE ratio of 22.15 and a beta of 0.67. The company’s 50 day moving average is $20.73 and its 200 day moving average is $21.99.
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Several hedge funds have recently modified their holdings of the company. Aperio Group LLC raised its position in shares of Compania Cervecerias Unidas by 7.8% in the first quarter. Aperio Group LLC now owns 158,128 shares of the company’s stock worth $3,550,000 after buying an additional 11,449 shares during the period. Lazard Asset Management LLC raised its position in shares of Compania Cervecerias Unidas by 2,390.9% in the first quarter. Lazard Asset Management LLC now owns 54,800 shares of the company’s stock worth $1,230,000 after buying an additional 52,600 shares during the period. AXA raised its position 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 worth $285,000 after buying an additional 12,300 shares during the period. AMP Capital Investors Ltd bought a new position in shares of Compania Cervecerias Unidas during the first quarter worth about $983,000. Finally, Vernier Capital Partners LP bought a new position in shares of Compania Cervecerias Unidas during the first quarter worth about $3,143,000. Institutional investors and hedge funds 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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