Point72 DIFC Ltd Acquires New Holdings in The Boston Beer Company, Inc. (NYSE:SAM)

Point72 DIFC Ltd purchased a new position in The Boston Beer Company, Inc. (NYSE:SAM - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,115 shares of the company's stock, valued at approximately $612,000.

Several other institutional investors also recently bought and sold shares of SAM. Dimensional Fund Advisors LP grew its position 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 purchasing an additional 26,538 shares during the period. Bank of New York Mellon Corp grew its holdings in Boston Beer by 8.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 133,486 shares of the company's stock valued at $40,720,000 after buying an additional 9,997 shares in the last quarter. D. E. Shaw & Co. Inc. increased its stake in shares of Boston Beer by 80.0% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 114,736 shares of the company's stock worth $35,000,000 after acquiring an additional 51,003 shares during the last quarter. Armistice Capital LLC boosted its holdings in Boston Beer by 1.1% in the 2nd quarter. Armistice Capital LLC now owns 97,292 shares of the company's stock valued at $29,679,000 after purchasing an additional 1,093 shares during the last quarter. Finally, Mesirow Institutional Investment Management Inc. purchased a new stake in shares of Boston Beer in the 2nd quarter valued at approximately $16,014,000. 81.13% of the stock is owned by institutional investors and hedge funds.

Boston Beer Trading Down 0.4 %

Shares of SAM traded down $1.28 during mid-day trading on Friday, hitting $314.81. The company's stock had a trading volume of 71,627 shares, compared to its average volume of 153,781. The firm has a 50-day simple moving average of $299.49 and a 200 day simple moving average of $287.61. 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 $3.62 billion, a P/E ratio of 46.32, a P/E/G ratio of 1.20 and a beta of 1.07.

Wall Street Analyst Weigh In

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