Renaissance Technologies LLC Lowers Holdings in The Boston Beer Company, Inc. (NYSE:SAM)

Renaissance Technologies LLC cut its holdings in shares of The Boston Beer Company, Inc. (NYSE:SAM - Free Report) by 6.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 67,879 shares of the company's stock after selling 4,400 shares during the period. Renaissance Technologies LLC owned 0.59% of Boston Beer worth $20,362,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of the business. Blue Trust Inc. increased its stake in shares of Boston Beer by 405.6% in the 4th quarter. Blue Trust Inc. now owns 91 shares of the company's stock valued at $26,000 after acquiring an additional 73 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in Boston Beer by 2,225.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 93 shares of the company's stock valued at $28,000 after acquiring an additional 89 shares during the period. GAMMA Investing LLC grew its position in shares of Boston Beer by 59.3% in the fourth quarter. GAMMA Investing LLC now owns 129 shares of the company's stock valued at $39,000 after purchasing an additional 48 shares during the last quarter. First Horizon Advisors Inc. lifted its holdings in Boston Beer by 42.1% during the 4th quarter. First Horizon Advisors Inc. now owns 172 shares of the company's stock worth $52,000 after purchasing an additional 51 shares during the last quarter. Finally, US Bancorp DE increased its position in Boston Beer by 67.9% during the 4th quarter. US Bancorp DE now owns 272 shares of the company's stock worth $82,000 after buying an additional 110 shares during the period. 81.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on SAM shares. Berenberg Bank initiated coverage on Boston Beer in a research report on Wednesday, April 2nd. They issued a "hold" rating and a $281.10 price target on the stock. Morgan Stanley reduced their price target 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. Citigroup upped their price target on shares of Boston Beer from $280.00 to $285.00 and gave the company a "buy" rating in a research report on Monday. StockNews.com lowered Boston Beer from a "buy" rating to a "hold" rating in a research report on Wednesday, March 5th. Finally, Roth Mkm restated a "buy" rating and set a $349.00 price target (down from $389.00) on shares of Boston Beer in a report on Wednesday, February 26th. Ten research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $293.91.

Boston Beer Price Performance

Shares of Boston Beer stock traded up $0.56 during trading hours on Friday, reaching $238.98. The company had a trading volume of 147,457 shares, compared to its average volume of 171,550. The business has a fifty day simple moving average of $235.32 and a 200 day simple moving average of $270.41. The Boston Beer Company, Inc. has a one year low of $215.10 and a one year high of $339.77. The firm has a market cap of $2.69 billion, a PE ratio of 35.14, a price-to-earnings-growth 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.