Captrust Financial Advisors Raises Stock Position in The Boston Beer Company, Inc. (NYSE:SAM)

Captrust Financial Advisors grew its holdings in shares of The Boston Beer Company, Inc. (NYSE:SAM) by 258.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 2,558 shares of the company’s stock after purchasing an additional 1,845 shares during the quarter. Captrust Financial Advisors’ holdings in Boston Beer were worth $740,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Covestor Ltd lifted its position in shares of Boston Beer by 36.6% during the 3rd quarter. Covestor Ltd now owns 127 shares of the company’s stock valued at $37,000 after buying an additional 34 shares in the last quarter. First Horizon Advisors Inc. boosted its position in shares of Boston Beer by 105.1% during the 3rd quarter. First Horizon Advisors Inc. now owns 121 shares of the company’s stock valued at $35,000 after acquiring an additional 62 shares during the last quarter. Great Valley Advisor Group Inc. lifted its position in Boston Beer by 8.5% during the third quarter. Great Valley Advisor Group Inc. now owns 867 shares of the company’s stock valued at $251,000 after purchasing an additional 68 shares during the last quarter. Los Angeles Capital Management LLC grew its position in Boston Beer by 0.5% in the second quarter. Los Angeles Capital Management LLC now owns 14,729 shares of the company’s stock worth $4,493,000 after acquiring an additional 74 shares in the last quarter. Finally, QV Investors Inc. boosted its holdings in shares of Boston Beer by 0.4% in the 3rd quarter. QV Investors Inc. now owns 20,650 shares of the company’s stock worth $5,971,000 after purchasing an additional 80 shares during the period. 81.13% of the stock is currently owned by institutional investors.

Boston Beer Stock Down 1.9 %

Shares of NYSE:SAM opened at $316.40 on Wednesday. The company has a market capitalization of $3.63 billion, a price-to-earnings ratio of 46.53, a price-to-earnings-growth ratio of 1.21 and a beta of 1.07. The firm has a 50 day moving average of $301.34 and a 200 day moving average of $288.93. The Boston Beer Company, Inc. has a 52 week low of $254.40 and a 52 week high of $371.65.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on SAM shares. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Boston Beer from $281.00 to $277.00 and set a “hold” rating on the stock in a research report on Thursday, October 24th. Piper Sandler boosted their target price on shares of Boston Beer from $325.00 to $330.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Roth Mkm reaffirmed a “buy” rating and issued a $389.00 price target on shares of Boston Beer in a research note on Wednesday, October 23rd. Jefferies Financial Group cut shares of 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 report on Friday, October 25th. Finally, UBS Group increased their price objective on Boston Beer from $300.00 to $309.00 in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $314.82.

About Boston Beer

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.