Merit Financial Group LLC Invests $434,000 in The Boston Beer Company, Inc. (NYSE:SAM)

Merit Financial Group LLC acquired a new stake in The Boston Beer Company, Inc. (NYSE:SAM - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,448 shares of the company's stock, valued at approximately $434,000.

Other large investors have also made changes to their positions in the company. First Horizon Advisors Inc. lifted its stake 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 worth $35,000 after purchasing an additional 62 shares during the period. Covestor Ltd lifted its position in Boston Beer by 36.6% during the third quarter. Covestor Ltd now owns 127 shares of the company's stock worth $37,000 after buying an additional 34 shares during the period. GAMMA Investing LLC boosted its stake in Boston Beer by 59.3% in the 4th quarter. GAMMA Investing LLC now owns 129 shares of the company's stock worth $39,000 after buying an additional 48 shares during the last quarter. True Wealth Design LLC purchased a new stake in Boston Beer in the 3rd quarter valued at about $47,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Boston Beer during the 3rd quarter valued at about $49,000. Institutional investors and hedge funds own 81.13% of the company's stock.

Boston Beer Stock Up 1.5 %

Shares of SAM traded up $3.60 during mid-day trading on Friday, reaching $248.28. 190,646 shares of the stock traded hands, compared to its average volume of 201,843. The stock has a fifty day simple moving average of $294.21 and a 200 day simple moving average of $287.22. The Boston Beer Company, Inc. has a 12-month low of $243.20 and a 12-month high of $371.65. The firm has a market cap of $2.85 billion, a price-to-earnings ratio of 36.51, a P/E/G ratio of 0.79 and a beta of 1.08.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Citigroup lowered their target price on shares of Boston Beer from $335.00 to $290.00 and set a "neutral" rating for the company in a report on Wednesday, January 15th. Jefferies Financial Group cut shares of Boston Beer from a "buy" rating to a "hold" rating and lowered their price objective for the company from $355.00 to $325.00 in a research note on Friday, October 25th. Deutsche Bank Aktiengesellschaft cut their target price on Boston Beer from $281.00 to $277.00 and set a "hold" rating on the stock in a research report on Thursday, October 24th. Roth Mkm reissued a "buy" rating and set a $389.00 price target on shares of Boston Beer in a research report on Wednesday, October 23rd. Finally, Piper Sandler downgraded Boston Beer from an "overweight" rating to a "neutral" rating and cut their price objective for the stock from $370.00 to $275.00 in a report on Thursday. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $302.90.

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.