The Boston Beer Company, Inc. (NYSE:SAM) Position Lessened by Fisher Asset Management LLC

Fisher Asset Management LLC reduced its stake in shares of The Boston Beer Company, Inc. (NYSE:SAM) by 0.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 126,243 shares of the company’s stock after selling 1,026 shares during the quarter. Fisher Asset Management LLC owned about 1.10% of Boston Beer worth $36,502,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in SAM. Mesirow Institutional Investment Management Inc. bought a new position in shares of Boston Beer during the second quarter worth about $16,014,000. D. E. Shaw & Co. Inc. raised its holdings in shares of Boston Beer by 80.0% during the second quarter. D. E. Shaw & Co. Inc. now owns 114,736 shares of the company’s stock valued at $35,000,000 after buying an additional 51,003 shares during the last quarter. Jane Street Group LLC boosted its position in shares of Boston Beer by 171.8% during the first quarter. Jane Street Group LLC now owns 15,876 shares of the company’s stock worth $4,833,000 after buying an additional 37,985 shares during the period. Assenagon Asset Management S.A. grew its holdings in Boston Beer by 190.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 46,659 shares of the company’s stock worth $14,233,000 after buying an additional 30,601 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Boston Beer by 17.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 182,972 shares of the company’s stock valued at $55,814,000 after acquiring an additional 26,538 shares during the period. 81.13% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SAM has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft decreased their price target on Boston Beer from $281.00 to $277.00 and set a “hold” rating for the company in a research note on Thursday, October 24th. Roth Mkm reiterated a “buy” rating and issued a $389.00 target price on shares of Boston Beer in a research report on Wednesday, October 23rd. UBS Group boosted their price target on shares of Boston Beer from $300.00 to $309.00 in a research report on Thursday, October 24th. Piper Sandler upped their price target on shares of Boston Beer from $325.00 to $330.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Finally, Jefferies Financial Group lowered shares of Boston Beer from a “buy” rating to a “hold” rating and lowered their price objective for the company from $355.00 to $325.00 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 assigned a buy rating to the company’s stock. According to MarketBeat.com, Boston Beer has an average rating of “Hold” and a consensus price target of $314.82.

Boston Beer Stock Performance

NYSE SAM opened at $312.28 on Wednesday. The stock has a market capitalization of $3.58 billion, a P/E ratio of 46.10, a P/E/G ratio of 1.20 and a beta of 1.06. The business’s fifty day moving average is $293.10 and its two-hundred day moving average is $285.95. The Boston Beer Company, Inc. has a 1 year low of $254.40 and a 1 year high of $371.65.

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.