Five Beverage Stocks Hedge Funds Like

Hedge fund sentiment towards Boston Beer Co Inc (NYSE:SAM) did not change much during the quarter. The number of hedge funds from the Insider Monkey database holding a stake in the company inched down to 22 from 24 at the end of the third quarter. Their combined investments amount to approximately 12% of the company’s outstanding stock. The research community is not too optimistic about the prospects of Boston Beer Co Inc (NYSE:SAM) either. Analysts at Credit Agricole have recently downgraded the stock to ‘Underperform’ from the previous rating of ‘Outperform’ and has placed a price target of $200 per share. Citigroup has recently initiated coverage on the stock with a ‘Sell’ rating and price target of $186 per share. Legendary investor Joel Greenblatt’s Gotham Asset Management is bullish on Boston Beer Co Inc (NYSE:SAM) and has more than doubled its position during the fourth quarter to 210,617 shares worth $42.5 million in its latest 13F filing.

Ambev SA (ADR) (NYSE:ABEV) fan club gained a couple more members during the quarter, as the number of hedge funds invested in the company increased to 21 from 18 a quarter before. Still, their holdings are insignificant, as together they hold less than 1% of the company’s common stock. So far this year, the stock has surged by more than 12%, having ended yesterday’s trading session at $4.82 per share. Analysts mainly recommend the stock as a ‘Buy’ and have an average price target of $4.90 per share. Billionaire Ken Fisher of Fisher Asset Management sees Ambev SA (ADR) (NYSE:ABEV) as a good investment, having increased his holding of the stock by 50% in the past quarter. Fisher Asset Management reportedly holds 18.9 million shares valued at  $84.1 million at the end of December.

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