Merit Financial Group LLC Takes Position in The Boston Beer Company, Inc. (NYSE:SAM)

Merit Financial Group LLC acquired a new stake in The Boston Beer Company, Inc. (NYSE:SAM) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 1,448 shares of the company’s stock, valued at approximately $434,000.

Other hedge funds have also recently bought and sold shares of the company. First Horizon Advisors Inc. grew its stake 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 worth $35,000 after acquiring an additional 62 shares in the last quarter. Covestor Ltd grew its stake in Boston Beer by 36.6% during the 3rd quarter. Covestor Ltd now owns 127 shares of the company’s stock worth $37,000 after purchasing an additional 34 shares in the last quarter. GAMMA Investing LLC increased its holdings in Boston Beer by 59.3% during the 4th quarter. GAMMA Investing LLC now owns 129 shares of the company’s stock worth $39,000 after purchasing an additional 48 shares during the period. True Wealth Design LLC acquired a new stake in Boston Beer in the 3rd quarter valued at about $47,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Boston Beer in the 3rd quarter valued at about $49,000. Institutional investors and hedge funds own 81.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on SAM shares. Citigroup lowered their target price on shares of Boston Beer from $335.00 to $290.00 and set a “neutral” rating for the company in a research note on Wednesday, January 15th. StockNews.com downgraded Boston Beer from a “buy” rating to a “hold” rating in a report on Wednesday, January 15th. Roth Mkm restated a “buy” rating and set a $389.00 target price on shares of Boston Beer in a research note on Wednesday, October 23rd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $318.00 price target on shares of Boston Beer in a research note on Friday, October 25th. Finally, Jefferies Financial Group downgraded shares of Boston Beer from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $355.00 to $325.00 in a research report on Friday, October 25th. One investment 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. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $302.90.

Boston Beer Stock Down 2.5 %

NYSE:SAM opened at $243.96 on Friday. The firm’s fifty day simple moving average is $295.61 and its 200-day simple moving average is $287.53. The stock has a market cap of $2.80 billion, a PE ratio of 35.88, a price-to-earnings-growth 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.

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.