Covestor Ltd Boosts Holdings in The Boston Beer Company, Inc. (NYSE:SAM)

Covestor Ltd boosted its position in shares of The Boston Beer Company, Inc. (NYSE:SAM) by 36.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 127 shares of the company’s stock after buying an additional 34 shares during the quarter. Covestor Ltd’s holdings in Boston Beer were worth $37,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Mesirow Institutional Investment Management Inc. bought a new position in Boston Beer in the second quarter worth about $16,014,000. D. E. Shaw & Co. Inc. raised its holdings in Boston Beer by 80.0% in the second quarter. D. E. Shaw & Co. Inc. now owns 114,736 shares of the company’s stock worth $35,000,000 after purchasing an additional 51,003 shares in the last quarter. Jane Street Group LLC raised its holdings in Boston Beer by 171.8% in the first quarter. Jane Street Group LLC now owns 15,876 shares of the company’s stock worth $4,833,000 after purchasing an additional 37,985 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in Boston Beer by 190.6% in the second quarter. Assenagon Asset Management S.A. now owns 46,659 shares of the company’s stock worth $14,233,000 after purchasing an additional 30,601 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Boston Beer by 17.0% in the second quarter. Dimensional Fund Advisors LP now owns 182,972 shares of the company’s stock worth $55,814,000 after purchasing an additional 26,538 shares in the last quarter. 81.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on SAM shares. Piper Sandler upped their price objective on shares of Boston Beer from $325.00 to $330.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Boston Beer from $281.00 to $277.00 and set a “hold” rating on the stock in a 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 company from $355.00 to $325.00 in a research report on Friday, October 25th. UBS Group upped their target price on Boston Beer from $300.00 to $309.00 in a research report on Thursday, October 24th. Finally, Roth Mkm reiterated a “buy” rating and issued a $389.00 target price on shares of Boston Beer in a research report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Boston Beer presently has a consensus rating of “Hold” and an average price target of $314.82.

Boston Beer Stock Down 0.8 %

SAM opened at $318.17 on Friday. The firm has a market cap of $3.65 billion, a price-to-earnings ratio of 46.79, a price-to-earnings-growth ratio of 1.24 and a beta of 1.06. The Boston Beer Company, Inc. has a 52 week low of $254.40 and a 52 week high of $371.65. The business’s 50 day moving average is $288.17 and its two-hundred day moving average is $284.41.

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.