SYM FINANCIAL Corp Takes Position in The Boston Beer Company, Inc. (NYSE:SAM)

SYM FINANCIAL Corp purchased a new position in The Boston Beer Company, Inc. (NYSE:SAM) in the fourth quarter, Holdings Channel reports. The fund purchased 724 shares of the company’s stock, valued at approximately $217,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SAM. State Street Corp grew its position in shares of Boston Beer by 7.8% in the 3rd quarter. State Street Corp now owns 292,643 shares of the company’s stock worth $84,615,000 after acquiring an additional 21,276 shares in the last quarter. Quantinno Capital Management LP lifted its stake in Boston Beer by 647.7% during the third quarter. Quantinno Capital Management LP now owns 21,064 shares of the company’s stock worth $6,090,000 after purchasing an additional 18,247 shares during the last quarter. QV Investors Inc. boosted its holdings in Boston Beer by 0.4% in the third quarter. QV Investors Inc. now owns 20,650 shares of the company’s stock worth $5,971,000 after purchasing an additional 80 shares during the period. Verition Fund Management LLC increased its stake in Boston Beer by 582.6% during the third quarter. Verition Fund Management LLC now owns 19,693 shares of the company’s stock valued at $5,694,000 after purchasing an additional 16,808 shares during the last quarter. Finally, Holocene Advisors LP raised its holdings in shares of Boston Beer by 130.9% during the third quarter. Holocene Advisors LP now owns 17,431 shares of the company’s stock worth $5,040,000 after purchasing an additional 9,882 shares during the period. 81.13% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on SAM shares. Piper Sandler lowered shares of Boston Beer from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $370.00 to $275.00 in a report on Thursday, January 23rd. Needham & Company LLC began coverage on Boston Beer in a research note on Friday, December 6th. They issued a “hold” rating for the company. Royal Bank of Canada reiterated a “sector perform” rating and set a $318.00 price target on shares of Boston Beer in a research report on Friday, October 25th. Jefferies Financial Group lowered Boston Beer from a “buy” rating to a “hold” rating and reduced their price objective for the company from $355.00 to $325.00 in a research report on Friday, October 25th. Finally, UBS Group cut 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. One equities 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, the stock currently has a consensus rating of “Hold” and an average target price of $302.90.

Boston Beer Stock Down 1.5 %

Shares of SAM stock opened at $250.77 on Monday. The stock has a 50-day simple moving average of $288.41 and a 200 day simple moving average of $286.00. The stock has a market capitalization of $2.88 billion, a P/E ratio of 36.88, a P/E/G ratio of 0.80 and a beta of 1.08. The Boston Beer Company, Inc. has a fifty-two week low of $243.20 and a fifty-two week high of $371.65.

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.