Kornitzer Capital Management Inc. KS Has $490,000 Stake in The Boston Beer Company, Inc. (NYSE:SAM)

Kornitzer Capital Management Inc. KS lowered its holdings in The Boston Beer Company, Inc. (NYSE:SAM - Free Report) by 58.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,632 shares of the company's stock after selling 2,336 shares during the quarter. Kornitzer Capital Management Inc. KS's holdings in Boston Beer were worth $490,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SAM. Blue Trust Inc. grew its holdings in shares of Boston Beer by 405.6% during the fourth quarter. Blue Trust Inc. now owns 91 shares of the company's stock worth $26,000 after buying an additional 73 shares during the last quarter. First Horizon Advisors Inc. boosted its position in Boston Beer by 105.1% during the 3rd quarter. First Horizon Advisors Inc. now owns 121 shares of the company's stock worth $35,000 after purchasing an additional 62 shares during the period. Covestor Ltd raised its holdings in shares of Boston Beer by 36.6% during the 3rd quarter. Covestor Ltd now owns 127 shares of the company's stock valued at $37,000 after buying an additional 34 shares during the period. GAMMA Investing LLC grew its holdings in Boston Beer by 59.3% during the 4th quarter. GAMMA Investing LLC now owns 129 shares of the company's stock valued at $39,000 after purchasing an additional 48 shares in the last quarter. Finally, True Wealth Design LLC purchased a new position in Boston Beer in the 3rd quarter valued at about $47,000. Institutional investors and hedge funds own 81.13% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on SAM shares. Royal Bank of Canada restated a "sector perform" rating and issued a $318.00 price target on shares of Boston Beer in a research note on Friday, October 25th. UBS Group reduced their price objective on shares of Boston Beer from $315.00 to $290.00 and set a "neutral" rating for the company in a research note on Thursday, January 16th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Boston Beer from $281.00 to $277.00 and set a "hold" rating for the company in a research note on Thursday, October 24th. Needham & Company LLC started coverage on Boston Beer in a report on Friday, December 6th. They set a "hold" rating on the stock. Finally, Piper Sandler lowered shares of Boston Beer from an "overweight" rating to a "neutral" rating and cut their price objective for the company from $370.00 to $275.00 in a research report on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $302.90.

Boston Beer Stock Up 0.2 %

NYSE:SAM traded up $0.46 during trading hours on Friday, reaching $225.61. The company had a trading volume of 108,001 shares, compared to its average volume of 184,516. The Boston Beer Company, Inc. has a one year low of $222.27 and a one year high of $371.65. The firm has a market capitalization of $2.59 billion, a PE ratio of 33.18, a PEG ratio of 1.23 and a beta of 1.06. The stock has a 50-day moving average of $265.76 and a two-hundred day moving average of $281.64.

Boston Beer Company 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.