National Bank of Canada FI Grows Stock Holdings in The Boston Beer Company, Inc. (NYSE:SAM)

National Bank of Canada FI grew its holdings in The Boston Beer Company, Inc. (NYSE:SAM) by 10.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 793 shares of the company’s stock after acquiring an additional 72 shares during the period. National Bank of Canada FI’s holdings in Boston Beer were worth $229,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in SAM. Weiss Asset Management LP acquired a new position in shares of Boston Beer during the third quarter worth about $790,000. State Street Corp raised its holdings in shares of Boston Beer by 7.8% during the 3rd quarter. State Street Corp now owns 292,643 shares of the company’s stock valued at $84,615,000 after buying an additional 21,276 shares during the period. Stifel Financial Corp lifted its position in Boston Beer by 15.5% during the 3rd quarter. Stifel Financial Corp now owns 1,480 shares of the company’s stock worth $428,000 after acquiring an additional 199 shares in the last quarter. Quadrature Capital Ltd purchased a new position in Boston Beer in the 3rd quarter worth approximately $1,681,000. Finally, Quantinno Capital Management LP grew its position in Boston Beer by 647.7% in the third quarter. Quantinno Capital Management LP now owns 21,064 shares of the company’s stock valued at $6,090,000 after acquiring an additional 18,247 shares in the last quarter. 81.13% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on SAM. Needham & Company LLC started coverage on shares of Boston Beer in a research note on Friday, December 6th. They issued a “hold” rating for the company. Roth Mkm reissued a “buy” rating and issued a $389.00 price objective on shares of Boston Beer in a research report on Wednesday, October 23rd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $318.00 price target on shares of Boston Beer in a research note on Friday, October 25th. Piper Sandler raised their price objective on Boston Beer from $325.00 to $330.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on Boston Beer from $281.00 to $277.00 and set a “hold” rating on the stock in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $314.82.

Boston Beer Stock Performance

Shares of NYSE:SAM opened at $307.50 on Tuesday. The company’s fifty day moving average is $304.10 and its two-hundred day moving average is $290.51. The Boston Beer Company, Inc. has a 1-year low of $254.40 and a 1-year high of $371.65. The stock has a market capitalization of $3.53 billion, a price-to-earnings ratio of 45.22, a price-to-earnings-growth ratio of 1.21 and a beta of 1.07.

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.