The Boston Beer Company, Inc. (NYSE:SAM) Stock Position Lifted by Blue Trust Inc.

Blue Trust Inc. raised its stake in The Boston Beer Company, Inc. (NYSE:SAM) by 405.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 91 shares of the company’s stock after purchasing an additional 73 shares during the quarter. Blue Trust Inc.’s holdings in Boston Beer were worth $26,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Street Corp grew its stake in shares of Boston Beer by 7.8% in the 3rd quarter. State Street Corp now owns 292,643 shares of the company’s stock valued at $84,615,000 after buying an additional 21,276 shares in the last quarter. Quantinno Capital Management LP lifted its stake in Boston Beer by 647.7% in the third quarter. Quantinno Capital Management LP now owns 21,064 shares of the company’s stock valued at $6,090,000 after acquiring an additional 18,247 shares during the last quarter. Verition Fund Management LLC increased its stake in shares of Boston Beer by 582.6% during the 3rd quarter. Verition Fund Management LLC now owns 19,693 shares of the company’s stock worth $5,694,000 after purchasing an additional 16,808 shares during the last quarter. International Assets Investment Management LLC bought a new position in shares of Boston Beer during the 3rd quarter valued at $45,150,000. Finally, Holocene Advisors LP lifted its stake in shares of Boston Beer by 130.9% in the 3rd quarter. Holocene Advisors LP now owns 17,431 shares of the company’s stock valued at $5,040,000 after purchasing an additional 9,882 shares during the last quarter. Hedge funds and other institutional investors own 81.13% of the company’s stock.

Boston Beer Trading Down 1.7 %

Shares of Boston Beer stock opened at $235.36 on Tuesday. The company has a market cap of $2.70 billion, a price-to-earnings ratio of 34.61, a PEG ratio of 0.78 and a beta of 1.06. The Boston Beer Company, Inc. has a 1 year low of $235.05 and a 1 year high of $371.65. The company’s fifty day simple moving average is $279.71 and its 200-day simple moving average is $284.59.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. UBS Group lowered their target price on shares of Boston Beer from $315.00 to $290.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Deutsche Bank Aktiengesellschaft lowered their price objective on Boston Beer from $281.00 to $277.00 and set a “hold” rating on the stock in a report on Thursday, October 24th. Piper Sandler lowered Boston Beer from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $370.00 to $275.00 in a report on Thursday, January 23rd. Royal Bank of Canada reiterated a “sector perform” rating and set a $318.00 price target on shares of Boston Beer in a report on Friday, October 25th. Finally, StockNews.com lowered shares of Boston Beer from a “buy” rating to a “hold” rating in a research report on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Boston Beer has an average rating of “Hold” and an average target price of $302.90.

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.