Wealthfront Advisers LLC Takes $6.53 Million Position in The Boston Beer Company, Inc. (NYSE:SAM)

Wealthfront Advisers LLC acquired a new stake in The Boston Beer Company, Inc. (NYSE:SAM) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 21,761 shares of the company’s stock, valued at approximately $6,528,000.

Other hedge funds also recently made changes to their positions in the company. Entropy Technologies LP acquired a new stake in shares of Boston Beer in the fourth quarter valued at approximately $368,000. Legato Capital Management LLC acquired a new stake in shares of Boston Beer in the fourth quarter valued at approximately $1,966,000. Merit Financial Group LLC acquired a new stake in shares of Boston Beer in the fourth quarter valued at approximately $434,000. Point72 Hong Kong Ltd bought a new position in shares of Boston Beer during the third quarter worth approximately $1,746,000. Finally, Barclays PLC increased its stake in shares of Boston Beer by 44.2% during the third quarter. Barclays PLC now owns 12,988 shares of the company’s stock worth $3,753,000 after purchasing an additional 3,983 shares during the period. 81.13% of the stock is owned by institutional investors and hedge funds.

Boston Beer Price Performance

Boston Beer stock opened at $233.10 on Thursday. The stock’s fifty day moving average price is $247.30 and its two-hundred day moving average price is $278.04. The Boston Beer Company, Inc. has a one year low of $222.27 and a one year high of $339.77. The firm has a market cap of $2.62 billion, a PE ratio of 34.28, a price-to-earnings-growth ratio of 1.23 and a beta of 1.14.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on SAM shares. Citigroup lowered their target price on Boston Beer from $335.00 to $290.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th. Morgan Stanley lowered their target price on Boston Beer from $290.00 to $270.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 26th. StockNews.com lowered Boston Beer from a “buy” rating to a “hold” rating in a research note on Wednesday, March 5th. UBS Group lowered their target price on Boston Beer from $315.00 to $290.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Finally, Needham & Company LLC started coverage on Boston Beer in a research note on Friday, December 6th. They set a “hold” rating on the stock. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $293.40.

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.