Venturi Wealth Management LLC Acquires 458 Shares of The Boston Beer Company, Inc. (NYSE:SAM)

Venturi Wealth Management LLC increased its holdings in The Boston Beer Company, Inc. (NYSE:SAM) by 1,065.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 501 shares of the company’s stock after acquiring an additional 458 shares during the quarter. Venturi Wealth Management LLC’s holdings in Boston Beer were worth $145,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Covestor Ltd increased its stake in shares of Boston Beer by 36.6% during the third quarter. Covestor Ltd now owns 127 shares of the company’s stock valued at $37,000 after purchasing an additional 34 shares in the last quarter. Los Angeles Capital Management LLC increased its position in Boston Beer by 0.5% during the 2nd quarter. Los Angeles Capital Management LLC now owns 14,729 shares of the company’s stock valued at $4,493,000 after buying an additional 74 shares in the last quarter. Gagnon Securities LLC raised its stake in Boston Beer by 0.5% during the first quarter. Gagnon Securities LLC now owns 16,893 shares of the company’s stock valued at $5,143,000 after buying an additional 80 shares during the last quarter. QV Investors Inc. boosted its holdings in Boston Beer by 0.4% in the third quarter. QV Investors Inc. now owns 20,650 shares of the company’s stock worth $5,971,000 after acquiring an additional 80 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale grew its stake in shares of 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 acquiring an additional 95 shares during the last quarter. 81.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on SAM shares. Piper Sandler upped their price target on shares of Boston Beer from $325.00 to $330.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Jefferies Financial Group cut shares of Boston Beer from a “buy” rating to a “hold” rating and cut their price target for the company from $355.00 to $325.00 in a report on Friday, October 25th. Royal Bank of Canada restated a “sector perform” rating and issued a $318.00 price objective on shares of Boston Beer in a report on Friday, October 25th. Roth Mkm reaffirmed a “buy” rating and issued a $389.00 price objective on shares of Boston Beer in a research report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on Boston Beer from $281.00 to $277.00 and set a “hold” rating for the company in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $314.82.

Boston Beer Stock Up 2.1 %

Boston Beer stock opened at $324.10 on Thursday. The business has a 50-day simple moving average of $286.72 and a two-hundred day simple moving average of $283.93. The Boston Beer Company, Inc. has a 52-week low of $254.40 and a 52-week high of $371.65. The company has a market cap of $3.72 billion, a P/E ratio of 47.66, a P/E/G 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.