The Boston Beer Company, Inc. (NYSE:SAM) Shares Purchased by State Street Corp

State Street Corp increased its holdings in shares of The Boston Beer Company, Inc. (NYSE:SAM - Free Report) by 7.8% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 292,643 shares of the company's stock after purchasing an additional 21,276 shares during the quarter. State Street Corp owned 2.55% of Boston Beer worth $84,615,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SAM. Stifel Financial Corp raised its position in Boston Beer by 15.5% in the third quarter. Stifel Financial Corp now owns 1,480 shares of the company's stock valued at $428,000 after purchasing an additional 199 shares during the period. Quadrature Capital Ltd acquired a new stake in shares of Boston Beer in the third quarter valued at about $1,681,000. Quantinno Capital Management LP raised its holdings in shares of Boston Beer by 647.7% during the 3rd quarter. Quantinno Capital Management LP now owns 21,064 shares of the company's stock valued at $6,090,000 after buying an additional 18,247 shares during the period. Point72 DIFC Ltd acquired a new position in Boston Beer during the 3rd quarter worth approximately $612,000. Finally, Holocene Advisors LP boosted its holdings in Boston Beer by 130.9% in the 3rd quarter. Holocene Advisors LP now owns 17,431 shares of the company's stock worth $5,040,000 after acquiring an additional 9,882 shares during the period. Institutional investors and hedge funds own 81.13% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on SAM. UBS Group lifted their price objective on shares of Boston Beer from $300.00 to $309.00 in a research note on Thursday, October 24th. Piper Sandler boosted their price objective on shares of Boston Beer from $325.00 to $330.00 and gave the stock an "overweight" rating in a report on Friday, October 25th. Deutsche Bank Aktiengesellschaft decreased their price objective 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. Jefferies Financial Group lowered Boston Beer from a "buy" rating to a "hold" rating and dropped their target price for the stock from $355.00 to $325.00 in a research report on Friday, October 25th. Finally, Royal Bank of Canada reissued a "sector perform" rating and issued a $318.00 price target on shares of Boston Beer in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Boston Beer presently has a consensus rating of "Hold" and a consensus target price of $314.82.

Boston Beer Stock Up 0.1 %

Shares of SAM traded up $0.30 during mid-day trading on Tuesday, hitting $307.80. The stock had a trading volume of 97,504 shares, compared to its average volume of 151,751. The Boston Beer Company, Inc. has a fifty-two week low of $254.40 and a fifty-two week high of $371.65. The company has a market cap of $3.53 billion, a PE ratio of 45.26, a PEG ratio of 1.21 and a beta of 1.07. The company's fifty day simple moving average is $304.82 and its two-hundred day simple moving average is $290.47.

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.