Zurcher Kantonalbank Zurich Cantonalbank Has $755,000 Stock Holdings in The Boston Beer Company, Inc. (NYSE:SAM)

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in The Boston Beer Company, Inc. (NYSE:SAM) by 11.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,517 shares of the company’s stock after purchasing an additional 257 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Boston Beer were worth $755,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Entropy Technologies LP acquired a new position in Boston Beer during the 4th quarter worth approximately $368,000. Legato Capital Management LLC acquired a new position in Boston Beer during the 4th quarter worth approximately $1,966,000. Merit Financial Group LLC acquired a new position in Boston Beer during the 4th quarter worth approximately $434,000. Point72 Hong Kong Ltd acquired a new position in Boston Beer during the 3rd quarter worth approximately $1,746,000. Finally, Charles Schwab Investment Management Inc. raised its stake in Boston Beer by 5.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 94,356 shares of the company’s stock worth $28,305,000 after buying an additional 4,675 shares during the period. 81.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on SAM shares. UBS Group dropped their price target on Boston Beer from $315.00 to $290.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Morgan Stanley decreased their price objective on Boston Beer from $290.00 to $270.00 and set an “equal weight” rating for the company in a report on Wednesday, February 26th. Roth Mkm reissued a “buy” rating and set a $349.00 price objective (down from $389.00) on shares of Boston Beer in a report on Wednesday, February 26th. Piper Sandler decreased their price objective on Boston Beer from $275.00 to $240.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th. Finally, Citigroup raised Boston Beer from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $265.00 to $280.00 in a report on Thursday. One analyst has rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $292.40.

Boston Beer Stock Up 0.1 %

SAM stock opened at $227.66 on Friday. The firm has a market cap of $2.56 billion, a PE ratio of 33.48, a P/E/G ratio of 1.23 and a beta of 1.14. The business has a 50 day moving average of $239.53 and a 200-day moving average of $275.64. The Boston Beer Company, Inc. has a 12-month low of $215.10 and a 12-month high of $339.77.

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.