Sei Investments Co. Reduces Holdings in The Boston Beer Company, Inc. (NYSE:SAM)

Sei Investments Co. lowered its stake in The Boston Beer Company, Inc. (NYSE:SAM - Free Report) by 40.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,525 shares of the company's stock after selling 2,371 shares during the quarter. Sei Investments Co.'s holdings in Boston Beer were worth $1,057,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Virtu Financial LLC purchased a new stake in shares of Boston Beer during the fourth quarter worth about $377,000. 1620 Investment Advisors Inc. boosted its position in Boston Beer by 89.4% during the fourth quarter. 1620 Investment Advisors Inc. now owns 909 shares of the company's stock worth $273,000 after acquiring an additional 429 shares during the last quarter. Teacher Retirement System of Texas grew its stake in Boston Beer by 98.9% in the 4th quarter. Teacher Retirement System of Texas now owns 4,801 shares of the company's stock worth $1,440,000 after acquiring an additional 2,387 shares during the period. Intech Investment Management LLC raised its holdings in Boston Beer by 29.6% in the 4th quarter. Intech Investment Management LLC now owns 2,021 shares of the company's stock valued at $606,000 after acquiring an additional 461 shares during the last quarter. Finally, Corient Private Wealth LLC purchased a new position in shares of Boston Beer during the 4th quarter worth $246,000. Hedge funds and other institutional investors own 81.13% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on SAM. Citigroup upgraded Boston Beer from a "neutral" rating to a "buy" rating and upped their target price for the company from $265.00 to $280.00 in a research note on Thursday, March 20th. Piper Sandler decreased their target price on shares of Boston Beer from $275.00 to $240.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 26th. Roth Mkm reaffirmed a "buy" rating and set a $349.00 price target (down previously from $389.00) on shares of Boston Beer in a research report on Wednesday, February 26th. StockNews.com lowered shares of Boston Beer from a "buy" rating to a "hold" rating in a report on Wednesday, March 5th. Finally, Berenberg Bank began coverage on shares of Boston Beer in a research note on Wednesday, April 2nd. They set a "hold" rating and a $281.10 price objective for the company. Ten equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $295.51.

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Boston Beer Trading Up 1.0 %

Shares of SAM traded up $2.54 during midday trading on Friday, reaching $245.51. 145,917 shares of the company were exchanged, compared to its average volume of 171,874. The Boston Beer Company, Inc. has a 1-year low of $215.10 and a 1-year high of $339.77. The stock has a 50-day moving average price of $235.25 and a 200-day moving average price of $271.49. The company has a market cap of $2.76 billion, a price-to-earnings ratio of 36.10, a P/E/G ratio of 1.23 and a beta of 1.26.

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.