The Goldman Sachs Group Cuts Compañía Cervecerías Unidas (NYSE:CCU) Price Target to $9.40

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

CCU has been the topic of a number of other research reports. JPMorgan Chase & Co. cut shares of Compañía Cervecerías Unidas from an “overweight” rating to an “underweight” rating and dropped their price objective for the stock from $21.00 to $10.00 in a report on Thursday, August 8th. Scotiabank raised 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 investment analysts have rated the stock with a sell rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $12.08.

Compañía Cervecerías Unidas Stock Down 0.2 %

CCU traded down $0.02 during trading on Tuesday, reaching $10.78. 19,369 shares of the company were exchanged, compared to its average volume of 152,781. Compañía Cervecerías Unidas has a 52 week low of $10.00 and a 52 week high of $13.74. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.06 and a quick ratio of 1.44. The firm has a 50 day moving average of $11.01 and a 200 day moving average of $11.57.

Compañía Cervecerías Unidas Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, January 1st will be issued a dividend of $0.1498 per share. This represents a dividend yield of 2.4%. This is a positive change from Compañía Cervecerías Unidas’s previous semi-annual dividend of $0.10. The ex-dividend date of this dividend is Friday, November 22nd. Compañía Cervecerías Unidas’s payout ratio is currently 29.33%.

Institutional Investors Weigh In On Compañía Cervecerías Unidas

Large investors have recently bought and sold shares of the business. Ritholtz Wealth Management acquired a new position in Compañía Cervecerías Unidas in the 2nd quarter valued at approximately $146,000. Blue Trust Inc. increased its position in shares of Compañía Cervecerías Unidas by 55.3% during the second quarter. Blue Trust Inc. now owns 18,231 shares of the company’s stock valued at $219,000 after purchasing an additional 6,495 shares during the period. Naples Global Advisors LLC raised its stake in shares of Compañía Cervecerías Unidas by 12.6% in the second quarter. Naples Global Advisors LLC now owns 33,595 shares of the company’s stock valued at $382,000 after purchasing an additional 3,750 shares in the last quarter. Malaga Cove Capital LLC lifted its position in Compañía Cervecerías Unidas by 39.8% in the second quarter. Malaga Cove Capital LLC now owns 57,632 shares of the company’s stock worth $656,000 after purchasing an additional 16,396 shares during the period. Finally, American Century Companies Inc. lifted its holdings in shares of Compañía Cervecerías Unidas by 37.5% during the 2nd quarter. American Century Companies Inc. now owns 79,367 shares of the company’s stock worth $903,000 after acquiring an additional 21,630 shares during the period. 24.07% of the stock is currently owned by institutional investors.

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.