Investors Research Corp Decreases Stake in The Boston Beer Company, Inc. (NYSE:SAM)

Investors Research Corp lowered its position in The Boston Beer Company, Inc. (NYSE:SAM) by 14.5% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,175 shares of the company’s stock after selling 200 shares during the period. Investors Research Corp’s holdings in Boston Beer were worth $352,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of SAM. Assetmark Inc. raised its holdings in shares of Boston Beer by 12.4% during the 3rd quarter. Assetmark Inc. now owns 4,154 shares of the company’s stock worth $1,201,000 after acquiring an additional 457 shares during the period. Covestor Ltd raised its holdings in shares of Boston Beer by 36.6% during the 3rd quarter. Covestor Ltd now owns 127 shares of the company’s stock worth $37,000 after acquiring an additional 34 shares during the period. Venturi Wealth Management LLC raised its holdings in shares of Boston Beer by 1,065.1% during the 3rd quarter. Venturi Wealth Management LLC now owns 501 shares of the company’s stock worth $145,000 after acquiring an additional 458 shares during the period. Versor Investments LP raised its holdings in shares of Boston Beer by 41.1% during the 3rd quarter. Versor Investments LP now owns 2,362 shares of the company’s stock worth $683,000 after acquiring an additional 688 shares during the period. Finally, GSA Capital Partners LLP purchased a new position in shares of Boston Beer during the 3rd quarter worth $1,209,000. Hedge funds and other institutional investors own 81.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. UBS Group cut their price objective on Boston Beer from $315.00 to $290.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Morgan Stanley cut 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. Roth Mkm reissued a “buy” rating and set a $349.00 price objective (down from $389.00) on shares of Boston Beer in a research report on Wednesday, February 26th. Needham & Company LLC assumed coverage on Boston Beer in a research report on Friday, December 6th. They set a “hold” rating for the company. Finally, Piper Sandler cut their price objective on Boston Beer from $275.00 to $240.00 and set a “neutral” rating for the company in a research report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $293.40.

Boston Beer Stock Performance

Shares of Boston Beer stock opened at $233.77 on Tuesday. The Boston Beer Company, Inc. has a one year low of $222.27 and a one year high of $339.77. The company has a market cap of $2.68 billion, a PE ratio of 34.38, a P/E/G ratio of 1.23 and a beta of 1.14. The business has a 50-day simple moving average of $250.00 and a 200-day simple moving average of $278.71.

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.