Wernau Asset Management Inc. purchased a new position in shares of The Boston Beer Company, Inc. (NYSE:SAM - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 2,500 shares of the company's stock, valued at approximately $750,000. Boston Beer accounts for about 0.6% of Wernau Asset Management Inc.'s holdings, making the stock its 23rd largest position.
A number of other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp increased its position in shares of Boston Beer by 7.8% during the third quarter. State Street Corp now owns 292,643 shares of the company's stock worth $84,615,000 after acquiring an additional 21,276 shares during the last quarter. Fisher Asset Management LLC raised its position in shares of Boston Beer by 27.1% in the 4th quarter. Fisher Asset Management LLC now owns 160,419 shares of the company's stock valued at $48,122,000 after purchasing an additional 34,176 shares in the last quarter. Quantinno Capital Management LP boosted its stake 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 last quarter. Verition Fund Management LLC grew its position in shares of Boston Beer by 582.6% during the third quarter. Verition Fund Management LLC now owns 19,693 shares of the company's stock worth $5,694,000 after buying an additional 16,808 shares in the last quarter. Finally, Holocene Advisors LP increased its stake in shares of Boston Beer by 130.9% in the third quarter. Holocene Advisors LP now owns 17,431 shares of the company's stock worth $5,040,000 after buying an additional 9,882 shares during the last quarter. Institutional investors and hedge funds own 81.13% of the company's stock.
Analysts Set New Price Targets
A number of research firms have commented on SAM. Needham & Company LLC assumed coverage on shares of Boston Beer in a research note on Friday, December 6th. They set a "hold" rating on the stock. Piper Sandler decreased their price target on Boston Beer from $275.00 to $240.00 and set a "neutral" rating for the company in a research note on Wednesday, February 26th. Roth Mkm restated a "buy" rating and set a $349.00 price objective (down previously from $389.00) on shares of Boston Beer in a research note on Wednesday, February 26th. Morgan Stanley decreased their target price on Boston Beer from $290.00 to $270.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 26th. Finally, StockNews.com upgraded Boston Beer from a "hold" rating to a "buy" rating in a research note on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $293.40.
Read Our Latest Stock Analysis on Boston Beer
Boston Beer Stock Down 0.1 %
Shares of NYSE:SAM opened at $243.80 on Monday. The Boston Beer Company, Inc. has a fifty-two week low of $222.27 and a fifty-two week high of $339.77. The company has a market cap of $2.80 billion, a PE ratio of 35.85, a P/E/G ratio of 1.23 and a beta of 1.06. The company's 50-day moving average price is $257.33 and its 200 day moving average price is $280.47.
About Boston Beer
(
Free Report)
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.
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