Ontario Teachers Pension Plan Board Cuts Position in The Boston Beer Company, Inc. (NYSE:SAM)

Ontario Teachers Pension Plan Board lowered its holdings in The Boston Beer Company, Inc. (NYSE:SAM - Free Report) by 23.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,707 shares of the company's stock after selling 1,471 shares during the quarter. Ontario Teachers Pension Plan Board's holdings in Boston Beer were worth $1,412,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Norges Bank purchased a new position in shares of Boston Beer during the 4th quarter valued at approximately $30,741,000. Cooper Creek Partners Management LLC acquired a new stake in Boston Beer during the fourth quarter valued at $25,054,000. Global Alpha Capital Management Ltd. purchased a new position in Boston Beer in the fourth quarter valued at $23,349,000. Fisher Asset Management LLC raised its position in shares of Boston Beer by 27.1% in the fourth quarter. Fisher Asset Management LLC now owns 160,419 shares of the company's stock worth $48,122,000 after acquiring an additional 34,176 shares during the period. Finally, Wealthfront Advisers LLC purchased a new position in Boston Beer during the fourth quarter worth approximately $6,528,000. Hedge funds and other institutional investors own 81.13% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. 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 report on Thursday. Roth Mkm restated a "buy" rating and issued a $349.00 target price (down previously from $389.00) on shares of Boston Beer in a research report on Wednesday, February 26th. Citigroup boosted their price target on Boston Beer from $280.00 to $285.00 and gave the stock a "buy" rating in a research report on Monday, April 14th. Morgan Stanley decreased their price objective on Boston Beer from $290.00 to $270.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 26th. Finally, StockNews.com lowered shares of Boston Beer from a "buy" rating to a "hold" rating in a report on Wednesday, March 5th. Ten research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $293.91.

Boston Beer Trading Up 0.2 %

SAM stock traded up $0.56 during trading on Friday, reaching $238.98. 147,457 shares of the stock were exchanged, compared to its average volume of 171,760. The business has a 50 day moving average price of $235.44 and a 200-day moving average price of $270.07. The Boston Beer Company, Inc. has a 1 year low of $215.10 and a 1 year high of $339.77. The firm has a market capitalization of $2.69 billion, a price-to-earnings ratio of 35.14, a P/E/G ratio of 1.23 and a beta of 1.26.

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.