Wealth Enhancement Advisory Services LLC Increases Stock Position in The Boston Beer Company, Inc. (NYSE:SAM)

Wealth Enhancement Advisory Services LLC boosted its position in The Boston Beer Company, Inc. (NYSE:SAM - Free Report) by 389.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,714 shares of the company's stock after purchasing an additional 4,546 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Boston Beer were worth $1,652,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Mesirow Institutional Investment Management Inc. acquired a new position in shares of Boston Beer during the second quarter worth $16,014,000. D. E. Shaw & Co. Inc. lifted its holdings in Boston Beer by 80.0% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 114,736 shares of the company's stock worth $35,000,000 after buying an additional 51,003 shares during the period. Jane Street Group LLC grew its position in shares of Boston Beer by 171.8% in the 1st quarter. Jane Street Group LLC now owns 15,876 shares of the company's stock valued at $4,833,000 after buying an additional 37,985 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of Boston Beer by 190.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 46,659 shares of the company's stock valued at $14,233,000 after buying an additional 30,601 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Boston Beer by 17.0% in the second quarter. Dimensional Fund Advisors LP now owns 182,972 shares of the company's stock valued at $55,814,000 after buying an additional 26,538 shares during the period. 81.13% of the stock is currently owned by institutional investors.

Boston Beer Price Performance

Shares of SAM traded up $1.71 during trading hours on Monday, hitting $296.65. The stock had a trading volume of 138,202 shares, compared to its average volume of 158,830. The firm has a 50 day simple moving average of $281.50 and a 200-day simple moving average of $282.72. The Boston Beer Company, Inc. has a 1-year low of $254.40 and a 1-year high of $371.65. The firm has a market capitalization of $3.41 billion, a P/E ratio of 43.76, a price-to-earnings-growth ratio of 1.12 and a beta of 1.06.

Analyst Upgrades and Downgrades

SAM has been the topic of a number of recent analyst reports. Roth Mkm reaffirmed a "buy" rating and issued a $389.00 price objective on shares of Boston Beer in a research note on Wednesday, October 23rd. Piper Sandler boosted their price target on shares of Boston Beer from $325.00 to $330.00 and gave the stock an "overweight" rating in a research report on Friday, October 25th. Royal Bank of Canada reiterated a "sector perform" rating and set a $318.00 price objective on shares of Boston Beer in a research report on Friday, October 25th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Boston Beer from $281.00 to $277.00 and set a "hold" rating on the stock in a report on Thursday, October 24th. Finally, UBS Group upped their price target on shares of Boston Beer from $300.00 to $309.00 in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $314.82.

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.