9,702 Shares in The Boston Beer Company, Inc. (NYSE:SAM) Purchased by Edgestream Partners L.P.

Edgestream Partners L.P. purchased a new position in shares of The Boston Beer Company, Inc. (NYSE:SAM) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 9,702 shares of the company’s stock, valued at approximately $2,910,000. Edgestream Partners L.P. owned approximately 0.08% of Boston Beer as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in SAM. Assetmark Inc. lifted its position in 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 buying an additional 457 shares in the last quarter. Covestor Ltd lifted its position in Boston Beer by 36.6% during the 3rd quarter. Covestor Ltd now owns 127 shares of the company’s stock valued at $37,000 after purchasing an additional 34 shares during the period. Venturi Wealth Management LLC lifted its position in Boston Beer by 1,065.1% during the 3rd quarter. Venturi Wealth Management LLC now owns 501 shares of the company’s stock valued at $145,000 after purchasing an additional 458 shares during the period. Versor Investments LP lifted its position in Boston Beer by 41.1% during the 3rd quarter. Versor Investments LP now owns 2,362 shares of the company’s stock valued at $683,000 after purchasing an additional 688 shares during the period. Finally, GSA Capital Partners LLP acquired a new position in Boston Beer during the 3rd quarter valued at about $1,209,000. Institutional investors and hedge funds own 81.13% of the company’s stock.

Boston Beer Price Performance

Shares of SAM stock opened at $239.48 on Monday. The stock has a 50-day moving average of $251.29 and a 200-day moving average of $279.00. The Boston Beer Company, Inc. has a one year low of $222.27 and a one year high of $339.77. The stock has a market cap of $2.75 billion, a PE ratio of 35.22, a price-to-earnings-growth ratio of 1.23 and a beta of 1.14.

Analysts Set New Price Targets

A number of research firms have issued reports on SAM. Piper Sandler cut their target price on shares of Boston Beer from $275.00 to $240.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 26th. UBS Group cut their target price on shares of Boston Beer from $315.00 to $290.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Needham & Company LLC began coverage on shares of Boston Beer in a research report on Friday, December 6th. They set a “hold” rating on the stock. Citigroup cut their target price on shares of Boston Beer from $335.00 to $290.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 15th. Finally, Roth Mkm restated a “buy” rating and set a $349.00 target price (down from $389.00) on shares of Boston Beer in a research report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Boston Beer currently has an average rating of “Hold” and a consensus price target of $293.40.

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.