Point72 Hong Kong Ltd Invests $1.75 Million in The Boston Beer Company, Inc. (NYSE:SAM)

Point72 Hong Kong Ltd purchased a new stake in The Boston Beer Company, Inc. (NYSE:SAM - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 6,037 shares of the company's stock, valued at approximately $1,746,000. Point72 Hong Kong Ltd owned 0.05% of Boston Beer as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Savant Capital LLC purchased a new stake in Boston Beer in the 2nd quarter valued at approximately $982,000. Assenagon Asset Management S.A. boosted its stake in shares of Boston Beer by 190.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 46,659 shares of the company's stock worth $14,233,000 after acquiring an additional 30,601 shares in the last quarter. SW Investment Management LLC purchased a new stake in shares of Boston Beer during the 2nd quarter worth approximately $1,525,000. Oppenheimer Asset Management Inc. boosted its stake in shares of Boston Beer by 18.7% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 4,933 shares of the company's stock worth $1,505,000 after acquiring an additional 778 shares in the last quarter. Finally, CWM LLC boosted its stake in shares of Boston Beer by 726.0% during the 3rd quarter. CWM LLC now owns 5,146 shares of the company's stock worth $1,488,000 after acquiring an additional 4,523 shares in the last quarter. Institutional investors and hedge funds own 81.13% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on SAM shares. Roth Mkm reissued a "buy" rating and set a $389.00 price target on shares of Boston Beer in a research note on Wednesday, October 23rd. Jefferies Financial Group lowered Boston Beer from a "buy" rating to a "hold" rating and decreased their price target for the stock from $355.00 to $325.00 in a research note on Friday, October 25th. UBS Group boosted their price target on Boston Beer from $300.00 to $309.00 in a research note on Thursday, October 24th. Piper Sandler upped their target price on Boston Beer from $325.00 to $330.00 and gave the company an "overweight" rating in a research note on Friday, October 25th. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $318.00 target price on shares of Boston Beer in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $314.82.

Boston Beer Price Performance

SAM traded up $0.42 during trading on Monday, hitting $316.66. The company's stock had a trading volume of 25,569 shares, compared to its average volume of 154,642. The firm's 50 day moving average price is $296.29 and its 200-day moving average price is $286.76. The stock has a market cap of $3.64 billion, a PE ratio of 46.51, a PEG ratio of 1.22 and a beta of 1.06. The Boston Beer Company, Inc. has a twelve month low of $254.40 and a twelve month high of $371.65.

Boston Beer 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.