The Boston Beer Company, Inc. (NYSE:SAM) Stock Position Decreased by Geode Capital Management LLC

Geode Capital Management LLC reduced its position in shares of The Boston Beer Company, Inc. (NYSE:SAM - Free Report) by 2.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 144,577 shares of the company's stock after selling 3,812 shares during the quarter. Geode Capital Management LLC owned about 1.26% of Boston Beer worth $43,383,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. National Bank of Canada FI lifted its holdings in shares of Boston Beer by 42.9% in the fourth quarter. National Bank of Canada FI now owns 1,133 shares of the company's stock valued at $340,000 after buying an additional 340 shares during the period. Pictet Asset Management Holding SA raised its position in Boston Beer by 16.4% in the fourth quarter. Pictet Asset Management Holding SA now owns 1,280 shares of the company's stock worth $384,000 after acquiring an additional 180 shares in the last quarter. New Age Alpha Advisors LLC acquired a new stake in Boston Beer in the 4th quarter valued at about $213,000. Norges Bank bought a new position in shares of Boston Beer during the 4th quarter valued at about $30,741,000. Finally, WINTON GROUP Ltd acquired a new position in shares of Boston Beer in the 4th quarter worth approximately $6,471,000. 81.13% of the stock is currently owned by institutional investors and hedge funds.

Boston Beer Stock Performance

Shares of NYSE SAM traded up $0.56 during mid-day trading on Friday, reaching $238.98. The company had a trading volume of 147,457 shares, compared to its average volume of 171,903. The company has a market capitalization of $2.69 billion, a price-to-earnings ratio of 35.14, a PEG ratio of 1.23 and a beta of 1.26. The stock has a fifty day moving average of $235.44 and a two-hundred day moving average of $269.96. The Boston Beer Company, Inc. has a 12-month low of $215.10 and a 12-month high of $339.77.

Analysts Set New Price Targets

Several research firms recently commented on SAM. UBS Group increased their target price on shares of Boston Beer from $265.00 to $279.00 and gave the company a "neutral" rating in a research note on Thursday. Citigroup raised their price objective on Boston Beer from $280.00 to $285.00 and gave the stock a "buy" rating in a research note on Monday, April 14th. StockNews.com lowered Boston Beer from a "buy" rating to a "hold" rating in a research report on Wednesday, March 5th. Morgan Stanley dropped their price target on Boston Beer from $290.00 to $270.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 26th. Finally, Piper Sandler reduced their price objective on shares of Boston Beer from $240.00 to $230.00 and set a "neutral" rating for the company in a research note on Thursday. Ten investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $293.91.

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.