The Boston Beer Company, Inc. (NYSE:SAM) Shares Purchased by Verition Fund Management LLC

Verition Fund Management LLC boosted its position in The Boston Beer Company, Inc. (NYSE:SAM - Free Report) by 582.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,693 shares of the company's stock after buying an additional 16,808 shares during the quarter. Verition Fund Management LLC owned approximately 0.17% of Boston Beer worth $5,694,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in SAM. First Horizon Advisors Inc. lifted its holdings in Boston Beer by 105.1% during the third quarter. First Horizon Advisors Inc. now owns 121 shares of the company's stock valued at $35,000 after purchasing an additional 62 shares during the last quarter. Covestor Ltd lifted its position in shares of Boston Beer by 36.6% during the third quarter. Covestor Ltd now owns 127 shares of the company's stock worth $37,000 after acquiring an additional 34 shares in the last quarter. ORG Partners LLC bought a new position in shares of Boston Beer in the second quarter worth $48,000. Sachetta LLC grew its position in shares of Boston Beer by 1,533.3% in the second quarter. Sachetta LLC now owns 245 shares of the company's stock valued at $68,000 after purchasing an additional 230 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its holdings in shares of Boston Beer by 61.3% in the second quarter. DekaBank Deutsche Girozentrale now owns 250 shares of the company's stock worth $75,000 after buying an additional 95 shares in the last quarter. Hedge funds and other institutional investors own 81.13% of the company's stock.

Boston Beer Stock Down 0.6 %

Shares of SAM traded down $1.90 during trading hours on Tuesday, reaching $313.02. 92,391 shares of the company traded hands, compared to its average volume of 154,669. The business has a fifty day moving average price of $297.10 and a 200-day moving average price of $286.99. The Boston Beer Company, Inc. has a 12-month low of $254.40 and a 12-month high of $371.65. The stock has a market capitalization of $3.59 billion, a P/E ratio of 46.03, a P/E/G ratio of 1.21 and a beta of 1.07.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SAM. Roth Mkm reissued a "buy" rating and issued a $389.00 price target on shares of Boston Beer in a report on Wednesday, October 23rd. UBS Group increased their target price on Boston Beer from $300.00 to $309.00 in a report on Thursday, October 24th. Jefferies Financial Group lowered Boston Beer from a "buy" rating to a "hold" rating and dropped their price objective for the company from $355.00 to $325.00 in a research note on Friday, October 25th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $318.00 price target on shares of Boston Beer in a research report on Friday, October 25th. Finally, Piper Sandler raised their price target on Boston Beer from $325.00 to $330.00 and gave the stock an "overweight" rating in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $314.82.

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.