Alberta Investment Management Corp Purchases 4,640 Shares of The Boston Beer Company, Inc. (NYSE:SAM)

Alberta Investment Management Corp raised its stake in shares of The Boston Beer Company, Inc. (NYSE:SAM - Free Report) by 67.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,540 shares of the company's stock after buying an additional 4,640 shares during the quarter. Alberta Investment Management Corp owned about 0.10% of Boston Beer worth $3,462,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Blue Trust Inc. grew its stake in Boston Beer by 405.6% during the fourth quarter. Blue Trust Inc. now owns 91 shares of the company's stock valued at $26,000 after acquiring an additional 73 shares in the last quarter. First Horizon Advisors Inc. boosted its holdings 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 purchasing an additional 62 shares during the last quarter. Covestor Ltd grew 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 valued at $37,000 after purchasing an additional 34 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Boston Beer by 59.3% in the fourth quarter. GAMMA Investing LLC now owns 129 shares of the company's stock worth $39,000 after purchasing an additional 48 shares during the last quarter. Finally, True Wealth Design LLC purchased a new stake in shares of Boston Beer in the third quarter worth about $47,000. Institutional investors own 81.13% of the company's stock.

Boston Beer Stock Up 0.8 %

SAM traded up $1.80 during trading hours on Friday, reaching $226.95. 215,915 shares of the company's stock traded hands, compared to its average volume of 188,112. The firm has a 50-day moving average price of $265.76 and a 200 day moving average price of $281.64. The Boston Beer Company, Inc. has a 52-week low of $222.27 and a 52-week high of $371.65. The firm has a market capitalization of $2.61 billion, a PE ratio of 33.38, a PEG ratio of 1.23 and a beta of 1.06.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on SAM shares. Citigroup cut their price target on Boston Beer from $335.00 to $290.00 and set a "neutral" rating for the company in a report on Wednesday, January 15th. UBS Group cut their target price on shares of Boston Beer from $315.00 to $290.00 and set a "neutral" rating for the company in a report on Thursday, January 16th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $318.00 price target on shares of Boston Beer in a research note on Friday, October 25th. Piper Sandler cut shares of Boston Beer from an "overweight" rating to a "neutral" rating and dropped their price objective for the stock from $370.00 to $275.00 in a research note on Thursday, January 23rd. Finally, Jefferies Financial Group cut shares of Boston Beer from a "buy" rating to a "hold" rating and decreased their target price for the company from $355.00 to $325.00 in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, Boston Beer has an average rating of "Hold" and a consensus price target 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.