Oppenheimer Asset Management Inc. Cuts Position in The Boston Beer Company, Inc. (NYSE:SAM)

Oppenheimer Asset Management Inc. reduced its stake in shares of The Boston Beer Company, Inc. (NYSE:SAM) by 14.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,014 shares of the company’s stock after selling 661 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Boston Beer were worth $1,204,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. State Street Corp boosted its holdings in Boston Beer by 7.8% during the third quarter. State Street Corp now owns 292,643 shares of the company’s stock worth $84,615,000 after buying an additional 21,276 shares in the last quarter. Quantinno Capital Management LP lifted its position in shares of Boston Beer by 647.7% during the 3rd 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 during the period. Verition Fund Management LLC boosted its stake in shares of Boston Beer by 582.6% during the 3rd quarter. Verition Fund Management LLC now owns 19,693 shares of the company’s stock worth $5,694,000 after acquiring an additional 16,808 shares in the last quarter. Ieq Capital LLC grew its holdings in shares of Boston Beer by 688.3% in the 4th quarter. Ieq Capital LLC now owns 15,379 shares of the company’s stock worth $4,613,000 after acquiring an additional 13,428 shares during the period. Finally, Holocene Advisors LP increased its stake in Boston Beer by 130.9% in the 3rd quarter. Holocene Advisors LP now owns 17,431 shares of the company’s stock valued at $5,040,000 after purchasing an additional 9,882 shares in the last quarter. 81.13% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have commented on SAM shares. Piper Sandler decreased their target price on Boston Beer from $275.00 to $240.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 26th. Morgan Stanley lowered their price objective on shares of Boston Beer from $290.00 to $270.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 26th. Needham & Company LLC started coverage on shares of Boston Beer in a research report on Friday, December 6th. They set a “hold” rating for the company. Roth Mkm reaffirmed a “buy” rating and issued a $349.00 price target (down previously from $389.00) on shares of Boston Beer in a report on Wednesday, February 26th. Finally, StockNews.com raised shares of Boston Beer from a “hold” rating to a “buy” rating in a research note on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Boston Beer has a consensus rating of “Hold” and a consensus price target of $293.40.

Boston Beer Stock Performance

Shares of NYSE SAM opened at $247.99 on Tuesday. The firm has a market cap of $2.85 billion, a P/E ratio of 36.47, a price-to-earnings-growth ratio of 1.23 and a beta of 1.06. The Boston Beer Company, Inc. has a 1 year low of $222.27 and a 1 year high of $339.77. The firm’s 50 day moving average price is $256.39 and its 200 day moving average price is $280.24.

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.