Cerity Partners LLC Purchases New Position in The Boston Beer Company, Inc. (NYSE:SAM)

Cerity Partners LLC acquired a new stake in The Boston Beer Company, Inc. (NYSE:SAM - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 9,512 shares of the company's stock, valued at approximately $2,750,000. Cerity Partners LLC owned approximately 0.08% of Boston Beer as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. LRI Investments LLC purchased a new position in Boston Beer in the 1st quarter worth approximately $30,000. First Horizon Advisors Inc. lifted its holdings in shares of Boston Beer by 105.1% in the third quarter. First Horizon Advisors Inc. now owns 121 shares of the company's stock worth $35,000 after buying an additional 62 shares in the last quarter. Covestor Ltd boosted its position in shares of Boston Beer by 36.6% during the third quarter. Covestor Ltd now owns 127 shares of the company's stock worth $37,000 after acquiring an additional 34 shares during the last quarter. ORG Partners LLC purchased a new position in Boston Beer during the second quarter valued at $48,000. Finally, Sachetta LLC grew its stake in Boston Beer by 1,533.3% during the second quarter. Sachetta LLC now owns 245 shares of the company's stock valued at $68,000 after acquiring an additional 230 shares in the last quarter. Institutional investors own 81.13% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have commented on SAM shares. Royal Bank of Canada reiterated a "sector perform" rating and issued a $318.00 price target on shares of Boston Beer in a research note on Friday, October 25th. Roth Mkm reiterated a "buy" rating and issued a $389.00 target price on shares of Boston Beer in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft cut their price target on Boston Beer from $281.00 to $277.00 and set a "hold" rating for the company in a report on Thursday, October 24th. UBS Group upped their price objective on Boston Beer from $300.00 to $309.00 in a report on Thursday, October 24th. Finally, Jefferies Financial Group downgraded Boston Beer from a "buy" rating to a "hold" rating and lowered their target price for the company from $355.00 to $325.00 in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $314.82.

Boston Beer Stock Performance

SAM stock traded up $2.56 during mid-day trading on Friday, reaching $316.24. 46,461 shares of the stock traded hands, compared to its average volume of 109,895. The Boston Beer Company, Inc. has a one year low of $254.40 and a one year high of $371.65. The stock has a market capitalization of $3.63 billion, a PE ratio of 46.51, a PEG ratio of 1.22 and a beta of 1.06. The business has a 50-day moving average price of $296.29 and a two-hundred day moving average price of $286.72.

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.