Intech Investment Management LLC Trims Position in The Boston Beer Company, Inc. (NYSE:SAM)

Intech Investment Management LLC reduced its holdings in The Boston Beer Company, Inc. (NYSE:SAM) by 42.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,560 shares of the company’s stock after selling 1,172 shares during the quarter. Intech Investment Management LLC’s holdings in Boston Beer were worth $451,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. lifted its position in Boston Beer by 105.1% during the third quarter. First Horizon Advisors Inc. now owns 121 shares of the company’s stock valued at $35,000 after buying an additional 62 shares in the last quarter. 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 worth $37,000 after buying an additional 34 shares during the period. ORG Partners LLC acquired a new stake in shares of Boston Beer in the second quarter valued at about $48,000. Sachetta LLC raised its holdings in shares of Boston Beer by 1,533.3% during the 2nd quarter. Sachetta LLC now owns 245 shares of the company’s stock valued at $68,000 after buying an additional 230 shares during the period. Finally, DekaBank Deutsche Girozentrale lifted its position in Boston Beer by 61.3% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 250 shares of the company’s stock worth $75,000 after acquiring an additional 95 shares in the last quarter. 81.13% of the stock is owned by institutional investors and hedge funds.

Boston Beer Trading Down 0.4 %

Boston Beer stock opened at $314.92 on Tuesday. The company’s 50-day moving average price is $296.29 and its two-hundred day moving average price is $286.76. The stock has a market cap of $3.62 billion, a price-to-earnings ratio of 46.51, a PEG ratio of 1.22 and a beta of 1.06. The Boston Beer Company, Inc. has a 52 week low of $254.40 and a 52 week high of $371.65.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on SAM shares. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $318.00 price target on shares of Boston Beer in a research note on Friday, October 25th. Roth Mkm reiterated a “buy” rating and set a $389.00 price objective on shares of Boston Beer in a research note on Wednesday, October 23rd. Piper Sandler increased their price target 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. UBS Group lifted their target price on Boston Beer from $300.00 to $309.00 in a research report on Thursday, October 24th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of Boston Beer from $281.00 to $277.00 and set a “hold” rating for the company in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $314.82.

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.