The Boston Beer Company, Inc. (NYSE:SAM) Stock Position Lifted by First Horizon Advisors Inc.

First Horizon Advisors Inc. raised its stake in shares of The Boston Beer Company, Inc. (NYSE:SAM) by 105.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 121 shares of the company’s stock after buying an additional 62 shares during the period. First Horizon Advisors Inc.’s holdings in Boston Beer were worth $35,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of SAM. Quest Partners LLC acquired a new position in Boston Beer in the 3rd quarter worth about $339,000. Claro Advisors LLC acquired a new position in shares of Boston Beer during the 3rd quarter worth $268,000. GSA Capital Partners LLP acquired a new stake in shares of Boston Beer in the 3rd quarter valued at $1,209,000. Versor Investments LP increased its position in Boston Beer by 41.1% during the third quarter. Versor Investments LP now owns 2,362 shares of the company’s stock worth $683,000 after buying an additional 688 shares during the last quarter. Finally, Venturi Wealth Management LLC lifted its position in shares of Boston Beer by 1,065.1% in the third quarter. Venturi Wealth Management LLC now owns 501 shares of the company’s stock worth $145,000 after buying an additional 458 shares during the last quarter. 81.13% of the stock is currently owned by hedge funds and other institutional investors.

Boston Beer Trading Up 0.9 %

Shares of NYSE SAM opened at $315.70 on Tuesday. The firm has a market capitalization of $3.62 billion, a price-to-earnings ratio of 46.43, a PEG ratio of 1.20 and a beta of 1.06. The Boston Beer Company, Inc. has a one year low of $254.40 and a one year high of $371.65. The business has a fifty day simple moving average of $293.10 and a 200 day simple moving average of $285.95.

Analysts Set New Price Targets

Several brokerages have commented on SAM. Piper Sandler increased their price target on Boston Beer from $325.00 to $330.00 and gave the company an “overweight” rating in a report on Friday, October 25th. UBS Group raised their target price on shares of Boston Beer from $300.00 to $309.00 in a research note on Thursday, October 24th. Roth Mkm reissued a “buy” rating and set a $389.00 target price on shares of Boston Beer in a research report on Wednesday, October 23rd. Jefferies Financial Group downgraded Boston Beer from a “buy” rating to a “hold” rating and lowered their price target for the company from $355.00 to $325.00 in a research report on Friday, October 25th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $318.00 target price on shares of Boston Beer in a research note on Friday, October 25th. One 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. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $314.82.

Boston Beer 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.