HighTower Advisors LLC Grows Stake in The Boston Beer Company, Inc. (NYSE:SAM)

HighTower Advisors LLC lifted its stake in The Boston Beer Company, Inc. (NYSE:SAM) by 13.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,033 shares of the company’s stock after purchasing an additional 123 shares during the quarter. HighTower Advisors LLC’s holdings in Boston Beer were worth $310,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of SAM. Blue Trust Inc. lifted its position in Boston Beer by 405.6% in the fourth quarter. Blue Trust Inc. now owns 91 shares of the company’s stock worth $26,000 after buying an additional 73 shares during the last quarter. GAMMA Investing LLC raised its position in Boston Beer by 59.3% in the 4th quarter. GAMMA Investing LLC now owns 129 shares of the company’s stock worth $39,000 after purchasing an additional 48 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in Boston Beer in the 3rd quarter valued at $49,000. First Horizon Advisors Inc. boosted its stake in shares of Boston Beer by 42.1% during the fourth quarter. First Horizon Advisors Inc. now owns 172 shares of the company’s stock valued at $52,000 after purchasing an additional 51 shares during the period. Finally, US Bancorp DE grew its holdings in shares of Boston Beer by 67.9% in the fourth quarter. US Bancorp DE now owns 272 shares of the company’s stock worth $82,000 after purchasing an additional 110 shares during the last quarter. Institutional investors own 81.13% of the company’s stock.

Boston Beer Stock Performance

NYSE:SAM opened at $243.37 on Wednesday. The firm’s fifty day moving average is $237.21 and its two-hundred day moving average is $273.85. The firm has a market cap of $2.74 billion, a price-to-earnings ratio of 35.79, a PEG ratio of 1.23 and a beta of 1.14. The Boston Beer Company, Inc. has a one year low of $215.10 and a one year high of $339.77.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SAM. Piper Sandler lowered their target price on Boston Beer from $275.00 to $240.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th. Citigroup raised shares of Boston Beer from a “neutral” rating to a “buy” rating and increased their target price for the company from $265.00 to $280.00 in a research report on Thursday, March 20th. Morgan Stanley lowered their price objective 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. StockNews.com downgraded shares of Boston Beer from a “buy” rating to a “hold” rating in a report on Wednesday, March 5th. Finally, Needham & Company LLC assumed coverage on shares of Boston Beer in a report on Friday, December 6th. They issued a “hold” rating for the company. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $292.40.

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.