Versor Investments LP Purchases 688 Shares of The Boston Beer Company, Inc. (NYSE:SAM)

Versor Investments LP increased its holdings in shares of The Boston Beer Company, Inc. (NYSE:SAM) by 41.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,362 shares of the company’s stock after buying an additional 688 shares during the quarter. Versor Investments LP’s holdings in Boston Beer were worth $683,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Venturi Wealth Management LLC increased its position in Boston Beer by 1,065.1% in the 3rd quarter. Venturi Wealth Management LLC now owns 501 shares of the company’s stock valued at $145,000 after acquiring an additional 458 shares during the period. Covestor Ltd grew its holdings in Boston Beer by 36.6% in the third quarter. Covestor Ltd now owns 127 shares of the company’s stock worth $37,000 after purchasing an additional 34 shares during the period. Assetmark Inc. increased its position in Boston Beer by 12.4% in the 3rd quarter. Assetmark Inc. now owns 4,154 shares of the company’s stock valued at $1,201,000 after buying an additional 457 shares in the last quarter. Capital Performance Advisors LLP bought a new position in shares of Boston Beer in the 3rd quarter worth $138,000. Finally, Kornitzer Capital Management Inc. KS grew its holdings in shares of Boston Beer by 3.4% during the third quarter. Kornitzer Capital Management Inc. KS now owns 3,968 shares of the company’s stock valued at $1,147,000 after buying an additional 129 shares during the last quarter. 81.13% of the stock is currently owned by institutional investors and hedge funds.

Boston Beer Stock Up 2.1 %

Shares of Boston Beer stock opened at $324.10 on Thursday. The business has a 50 day moving average of $286.72 and a 200 day moving average of $283.93. The Boston Beer Company, Inc. has a 52 week low of $254.40 and a 52 week high of $371.65. The company has a market cap of $3.72 billion, a PE ratio of 47.66, a P/E/G ratio of 1.22 and a beta of 1.06.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SAM. Royal Bank of Canada reiterated a “sector perform” rating and set a $318.00 price target on shares of Boston Beer in a report on Friday, October 25th. Piper Sandler upped their target price 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. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Boston Beer from $281.00 to $277.00 and set a “hold” rating on the stock in a research report on Thursday, October 24th. Jefferies Financial Group downgraded shares of Boston Beer from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $355.00 to $325.00 in a research report on Friday, October 25th. Finally, Roth Mkm reiterated a “buy” rating and issued a $389.00 price objective on shares of Boston Beer in a research note on Wednesday, October 23rd. 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 company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $314.82.

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.