First Horizon Advisors Inc. Has $35,000 Stock Position in The Boston Beer Company, Inc. (NYSE:SAM)

First Horizon Advisors Inc. lifted its stake in The Boston Beer Company, Inc. (NYSE:SAM) by 105.1% in the third quarter, HoldingsChannel reports. The institutional investor owned 121 shares of the company’s stock after buying an additional 62 shares during the quarter. First Horizon Advisors Inc.’s holdings in Boston Beer were worth $35,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Covestor Ltd raised its stake in Boston Beer by 36.6% during the third quarter. Covestor Ltd now owns 127 shares of the company’s stock worth $37,000 after acquiring an additional 34 shares in the last quarter. Los Angeles Capital Management LLC lifted its holdings in Boston Beer by 0.5% during the 2nd quarter. Los Angeles Capital Management LLC now owns 14,729 shares of the company’s stock valued at $4,493,000 after purchasing an additional 74 shares during the last quarter. QV Investors Inc. boosted its position in Boston Beer by 0.4% in the third quarter. QV Investors Inc. now owns 20,650 shares of the company’s stock valued at $5,971,000 after buying an additional 80 shares in the last quarter. DekaBank Deutsche Girozentrale grew its stake in Boston Beer by 61.3% during the second quarter. DekaBank Deutsche Girozentrale now owns 250 shares of the company’s stock worth $75,000 after buying an additional 95 shares during the last quarter. Finally, LRI Investments LLC acquired a new stake in shares of Boston Beer during the first quarter worth approximately $28,000. Institutional investors own 81.13% of the company’s stock.

Boston Beer Stock Performance

Shares of Boston Beer stock opened at $315.70 on Tuesday. The firm has a fifty day moving average of $293.10 and a two-hundred day moving average of $285.95. The stock 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 52 week low of $254.40 and a 52 week high of $371.65.

Analyst Ratings Changes

A number of equities research analysts recently commented on SAM shares. Roth Mkm restated a “buy” rating and set a $389.00 price target on shares of Boston Beer in a research report on Wednesday, October 23rd. Jefferies Financial Group lowered Boston Beer from a “buy” rating to a “hold” rating and lowered their target price for the company from $355.00 to $325.00 in a research note on Friday, October 25th. 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 report on Friday, October 25th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Boston Beer from $281.00 to $277.00 and set a “hold” rating for the company in a research report on Thursday, October 24th. Finally, UBS Group upped their target price on shares of Boston Beer from $300.00 to $309.00 in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average 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.