The Boston Beer Company, Inc. (NYSE:SAM) Shares Sold by Summit Place Financial Advisors LLC

Summit Place Financial Advisors LLC reduced its position in shares of The Boston Beer Company, Inc. (NYSE:SAM) by 30.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,724 shares of the company’s stock after selling 764 shares during the quarter. Summit Place Financial Advisors LLC’s holdings in Boston Beer were worth $517,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of SAM. Blue Trust Inc. lifted its stake in Boston Beer by 405.6% in the 4th quarter. Blue Trust Inc. now owns 91 shares of the company’s stock valued at $26,000 after buying an additional 73 shares in the last quarter. First Horizon Advisors Inc. lifted its stake in Boston Beer by 105.1% in the 3rd quarter. First Horizon Advisors Inc. now owns 121 shares of the company’s stock worth $35,000 after purchasing an additional 62 shares in the last quarter. Covestor Ltd lifted its stake in Boston Beer by 36.6% in the 3rd quarter. Covestor Ltd now owns 127 shares of the company’s stock worth $37,000 after purchasing an additional 34 shares in the last quarter. GAMMA Investing LLC lifted its stake 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 in the last quarter. Finally, True Wealth Design LLC purchased a new position in Boston Beer in the 3rd quarter worth approximately $47,000. 81.13% of the stock is owned by hedge funds and other institutional investors.

Boston Beer Stock Performance

NYSE SAM opened at $226.07 on Wednesday. The firm has a market cap of $2.60 billion, a PE ratio of 33.25, a P/E/G ratio of 1.27 and a beta of 1.06. The Boston Beer Company, Inc. has a one year low of $223.07 and a one year high of $371.65. The firm’s fifty day moving average is $269.43 and its two-hundred day moving average is $282.43.

Analyst Upgrades and Downgrades

SAM has been the subject of a number of recent analyst reports. UBS Group cut their price target on shares of Boston Beer from $315.00 to $290.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Piper Sandler downgraded shares of Boston Beer from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $370.00 to $275.00 in a report on Thursday, January 23rd. Roth Mkm reiterated a “buy” rating and issued a $389.00 target price on shares of Boston Beer in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Boston Beer from $281.00 to $277.00 and set a “hold” rating for the company in a report on Thursday, October 24th. 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 analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Boston Beer has an average rating of “Hold” and an average target price of $302.90.

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.