Versor Investments LP Boosts Stake in The Boston Beer Company, Inc. (NYSE:SAM)

Versor Investments LP lifted its position in The Boston Beer Company, Inc. (NYSE:SAM) by 41.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,362 shares of the company’s stock after acquiring an additional 688 shares during the period. Versor Investments LP’s holdings in Boston Beer were worth $683,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in SAM. LRI Investments LLC purchased a new position in Boston Beer during the first quarter valued at $28,000. Covestor Ltd increased its stake in shares of Boston Beer by 36.6% in the 3rd quarter. Covestor Ltd now owns 127 shares of the company’s stock worth $37,000 after acquiring an additional 34 shares in the last quarter. ORG Partners LLC purchased a new position in Boston Beer during the 2nd quarter valued at about $48,000. Sachetta LLC boosted its stake in Boston Beer by 1,533.3% during the second quarter. Sachetta LLC now owns 245 shares of the company’s stock worth $68,000 after acquiring an additional 230 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale grew its holdings in Boston Beer by 61.3% in the second quarter. DekaBank Deutsche Girozentrale now owns 250 shares of the company’s stock worth $75,000 after purchasing an additional 95 shares during the period. Hedge funds and other institutional investors own 81.13% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on SAM shares. UBS Group lifted their target price on shares of Boston Beer from $300.00 to $309.00 in a report on Thursday, October 24th. Jefferies Financial Group cut Boston Beer from a “buy” rating to a “hold” rating and lowered their price objective for the company from $355.00 to $325.00 in a research note on Friday, October 25th. Royal Bank of Canada reissued a “sector perform” rating and issued a $318.00 target price on shares of Boston Beer in a research note on Friday, October 25th. Deutsche Bank Aktiengesellschaft lowered their price target on Boston Beer from $281.00 to $277.00 and set a “hold” rating for the company in a research report on Thursday, October 24th. Finally, Piper Sandler increased their price objective on shares of Boston Beer from $325.00 to $330.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $314.82.

Boston Beer Stock Up 2.1 %

SAM opened at $324.10 on Thursday. The Boston Beer Company, Inc. has a twelve month low of $254.40 and a twelve month high of $371.65. The firm has a 50 day moving average price of $286.72 and a 200-day moving average price of $283.93. The stock has a market capitalization of $3.72 billion, a price-to-earnings ratio of 47.66, a PEG ratio of 1.22 and a beta of 1.06.

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.