Cooper Creek Partners Management LLC Invests $25.05 Million in The Boston Beer Company, Inc. (NYSE:SAM)

Cooper Creek Partners Management LLC purchased a new stake in The Boston Beer Company, Inc. (NYSE:SAM) in the fourth quarter, Holdings Channel reports. The firm purchased 83,520 shares of the company’s stock, valued at approximately $25,054,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sterling Capital Management LLC increased its stake in Boston Beer by 45.7% during the fourth quarter. Sterling Capital Management LLC now owns 453 shares of the company’s stock valued at $136,000 after purchasing an additional 142 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Boston Beer during the 4th quarter valued at about $243,000. Bank of Montreal Can raised its stake in Boston Beer by 7.3% during the fourth quarter. Bank of Montreal Can now owns 1,001 shares of the company’s stock worth $300,000 after acquiring an additional 68 shares during the period. Polymer Capital Management US LLC acquired a new stake in Boston Beer during the fourth quarter worth about $214,000. Finally, Cerity Partners LLC lifted its holdings in Boston Beer by 21.7% in the fourth quarter. Cerity Partners LLC now owns 11,574 shares of the company’s stock worth $3,467,000 after acquiring an additional 2,062 shares during the last quarter. 81.13% of the stock is owned by institutional investors and hedge funds.

Boston Beer Stock Up 1.0 %

Shares of SAM opened at $245.51 on Friday. The firm has a market capitalization of $2.76 billion, a PE ratio of 36.10, a P/E/G ratio of 1.23 and a beta of 1.26. The firm has a 50-day moving average price of $235.25 and a 200 day moving average price of $271.49. The Boston Beer Company, Inc. has a 52-week low of $215.10 and a 52-week high of $339.77.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Berenberg Bank assumed coverage on Boston Beer in a research report on Wednesday, April 2nd. They set a “hold” rating and a $281.10 price target on the stock. StockNews.com lowered Boston Beer from a “buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Morgan Stanley reduced their price target on shares of Boston Beer from $290.00 to $270.00 and set an “equal weight” rating for the company in a report on Wednesday, February 26th. Piper Sandler dropped their price objective on shares of Boston Beer from $275.00 to $240.00 and set a “neutral” rating on the stock in a report on Wednesday, February 26th. Finally, Roth Mkm reissued a “buy” rating and set a $349.00 target price (down from $389.00) on shares of Boston Beer in a research note on Wednesday, February 26th. Ten research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $295.51.

Boston Beer Company Profile

The Boston Beer Company, Inc produces and sells alcohol beverages primarily in the United States. The company's flagship beer is Samuel Adams Boston Lager. It offers various beers, hard ciders, flavored malt beverages, and hard seltzers under the Samuel Adams, Twisted Tea, Truly, Angry Orchard, Dogfish Head, Angel City, and Coney Island brand names.