Global Alpha Capital Management Ltd. Makes New Investment in The Boston Beer Company, Inc. (NYSE:SAM)

Global Alpha Capital Management Ltd. purchased a new stake in shares of The Boston Beer Company, Inc. (NYSE:SAM - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 77,834 shares of the company's stock, valued at approximately $23,349,000. Boston Beer accounts for approximately 1.7% of Global Alpha Capital Management Ltd.'s holdings, making the stock its 27th biggest position. Global Alpha Capital Management Ltd. owned about 0.68% of Boston Beer as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Blue Trust Inc. boosted its holdings in shares of Boston Beer by 405.6% during the 4th quarter. Blue Trust Inc. now owns 91 shares of the company's stock valued at $26,000 after acquiring an additional 73 shares during the last quarter. First Horizon Advisors Inc. boosted its position in shares of Boston Beer by 105.1% during the third quarter. First Horizon Advisors Inc. now owns 121 shares of the company's stock worth $35,000 after acquiring 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 boosted its stake in Boston Beer by 59.3% during the fourth quarter. GAMMA Investing LLC now owns 129 shares of the company's stock valued at $39,000 after buying an additional 48 shares during the last quarter. Finally, True Wealth Design LLC bought a new stake in Boston Beer in the 3rd quarter worth approximately $47,000. Institutional investors own 81.13% of the company's stock.

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Boston Beer Stock Performance

SAM traded up $1.99 on Wednesday, hitting $233.10. The company had a trading volume of 343,934 shares, compared to its average volume of 224,153. The stock has a market capitalization of $2.62 billion, a price-to-earnings ratio of 34.28, a P/E/G ratio of 1.23 and a beta of 1.14. The stock has a fifty day moving average price of $248.63 and a 200-day moving average price of $278.36. The Boston Beer Company, Inc. has a 12-month low of $222.27 and a 12-month high of $339.77.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. StockNews.com downgraded shares of Boston Beer from a "buy" rating to a "hold" rating in a report on Wednesday, March 5th. UBS Group cut their price target on shares of Boston Beer from $315.00 to $290.00 and set a "neutral" rating on the stock in a report on Thursday, January 16th. Needham & Company LLC assumed coverage on shares of Boston Beer in a research report on Friday, December 6th. They issued a "hold" rating on the stock. Piper Sandler decreased their price target on Boston Beer from $275.00 to $240.00 and set a "neutral" rating for the company in a research note on Wednesday, February 26th. Finally, Morgan Stanley lowered their target price on shares of Boston Beer from $290.00 to $270.00 and set an "equal weight" rating for the company in a research note on Wednesday, February 26th. One 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. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $293.40.

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.