Weiss Asset Management LP Makes New Investment in The Boston Beer Company, Inc. (NYSE:SAM)

Weiss Asset Management LP purchased a new position in shares of The Boston Beer Company, Inc. (NYSE:SAM - Free Report) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 2,732 shares of the company's stock, valued at approximately $790,000.

A number of other large investors have also recently made changes to their positions in the stock. First Horizon Advisors Inc. raised its holdings in shares of Boston Beer by 105.1% in the 3rd quarter. First Horizon Advisors Inc. now owns 121 shares of the company's stock valued at $35,000 after purchasing an additional 62 shares in the last quarter. Covestor Ltd raised its position in shares of Boston Beer by 36.6% in the third quarter. Covestor Ltd now owns 127 shares of the company's stock valued at $37,000 after buying an additional 34 shares during the last quarter. True Wealth Design LLC acquired a new position in Boston Beer during the third quarter worth approximately $47,000. ORG Partners LLC purchased a new stake in Boston Beer during the second quarter worth approximately $48,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Boston Beer during the third quarter worth approximately $49,000. 81.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on SAM shares. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $318.00 price objective on shares of Boston Beer in a report on Friday, October 25th. Deutsche Bank Aktiengesellschaft reduced 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. Roth Mkm reissued a "buy" rating and issued a $389.00 price target on shares of Boston Beer in a research report on Wednesday, October 23rd. Needham & Company LLC began coverage on shares of Boston Beer in a research note on Friday. They issued a "hold" rating on the stock. Finally, Jefferies Financial Group downgraded shares of Boston Beer from a "buy" rating to a "hold" rating and decreased their price target for the stock from $355.00 to $325.00 in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $314.82.

Boston Beer Stock Performance

SAM traded up $7.66 on Monday, hitting $322.47. 80,006 shares of the company were exchanged, compared to its average volume of 153,469. The firm has a fifty day simple moving average of $300.11 and a two-hundred day simple moving average of $288.15. 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 $3.70 billion, a PE ratio of 46.30, a price-to-earnings-growth ratio of 1.21 and a beta of 1.07.

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.