QV Investors Inc. Sells 3,770 Shares of The Boston Beer Company, Inc. (NYSE:SAM)

QV Investors Inc. lessened its position in shares of The Boston Beer Company, Inc. (NYSE:SAM) by 18.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,880 shares of the company’s stock after selling 3,770 shares during the period. QV Investors Inc.’s holdings in Boston Beer were worth $5,064,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. raised its position in shares of Boston Beer by 105.1% in the third quarter. First Horizon Advisors Inc. now owns 121 shares of the company’s stock valued at $35,000 after purchasing an additional 62 shares during the period. Covestor Ltd boosted its position in shares of Boston Beer by 36.6% in the third quarter. Covestor Ltd now owns 127 shares of the company’s stock valued at $37,000 after acquiring an additional 34 shares during the period. GAMMA Investing LLC grew its stake in Boston Beer by 59.3% during the fourth quarter. GAMMA Investing LLC now owns 129 shares of the company’s stock valued at $39,000 after acquiring an additional 48 shares in the last quarter. True Wealth Design LLC bought a new stake in Boston Beer during the 3rd quarter worth approximately $47,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Boston Beer in the 3rd quarter valued at $49,000. Hedge funds and other institutional investors own 81.13% of the company’s stock.

Boston Beer Price Performance

Boston Beer stock traded up $3.93 during trading hours on Monday, reaching $259.98. The company had a trading volume of 78,747 shares, compared to its average volume of 192,247. The firm has a market cap of $2.99 billion, a price-to-earnings ratio of 38.23, a P/E/G ratio of 1.21 and a beta of 1.08. The Boston Beer Company, Inc. has a 12-month low of $253.13 and a 12-month high of $371.65. The company has a 50-day moving average price of $305.76 and a 200 day moving average price of $290.29.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft lowered their price objective on Boston Beer from $281.00 to $277.00 and set a “hold” rating on the stock in a research report on Thursday, October 24th. Piper Sandler upped their price objective 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. Royal Bank of Canada reiterated a “sector perform” rating and set a $318.00 target price on shares of Boston Beer in a research report on Friday, October 25th. Jefferies Financial Group lowered shares of Boston Beer from a “buy” rating to a “hold” rating and decreased their price target for the stock from $355.00 to $325.00 in a report on Friday, October 25th. Finally, Needham & Company LLC started coverage on shares of Boston Beer in a report on Friday, December 6th. They set a “hold” rating for the company. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target 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.