Compania Cervecerias Unidas (NYSE:CCU) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Tuesday.
According to Zacks, “Compañía Cervecerías Unidas S. A. (CCU) has successfully positioned itself as a Chilean multinational beverage company, with diversified businesses and operations focused on the Southern Cone of South America. CCU is active in the beer industry in Chile, where it operates the country’s leading brewery, and in Argentina, where it holds third place in the market. In the non-alcoholic beverages sector, it is Chile’s second-largest bottler of carbonated beverages and the leader in the mineral water market. It has winemaking operations in Argentina and in Chile. “
Separately, BidaskClub upgraded shares of Compania Cervecerias Unidas from a “hold” rating to a “buy” rating in a research report on Saturday, August 19th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $27.50.
A number of hedge funds and other institutional investors have recently made changes to their positions in CCU. Janus Henderson Group PLC boosted its position in Compania Cervecerias Unidas by 41.3% during the second quarter. Janus Henderson Group PLC now owns 3,985,882 shares of the company’s stock worth $104,712,000 after acquiring an additional 1,165,926 shares during the last quarter. First Eagle Investment Management LLC boosted its position in Compania Cervecerias Unidas by 5.3% during the third quarter. First Eagle Investment Management LLC now owns 7,017,265 shares of the company’s stock worth $188,975,000 after acquiring an additional 354,814 shares during the last quarter. Ameriprise Financial Inc. acquired a new stake in Compania Cervecerias Unidas during the second quarter worth approximately $7,975,000. Mckinley Capital Management LLC Delaware acquired a new stake in Compania Cervecerias Unidas during the second quarter worth approximately $4,751,000. Finally, Royal Bank of Canada boosted its position in Compania Cervecerias Unidas by 88.2% during the second quarter. Royal Bank of Canada now owns 227,490 shares of the company’s stock worth $5,970,000 after acquiring an additional 106,600 shares during the last quarter. Hedge funds and other institutional investors own 13.61% of the company’s stock.
Compania Cervecerias Unidas Company Profile
Compania Cervecerias Unidas SA is a diversified beverage company operating principally in Chile, Argentina, Bolivia, Colombia, Paraguay and Uruguay. The Company operates as a brewer, soft drinks producer, water and nectar producer, wine producer and pisco distributor. The Company’s segments include Chile, International Business and Wine.
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