Empowered Funds LLC Takes $333,000 Position in The Boston Beer Company, Inc. (NYSE:SAM)

Empowered Funds LLC purchased a new position in The Boston Beer Company, Inc. (NYSE:SAM) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,109 shares of the company’s stock, valued at approximately $333,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Blue Trust Inc. lifted its holdings in Boston Beer by 405.6% during the fourth quarter. Blue Trust Inc. now owns 91 shares of the company’s stock worth $26,000 after buying an additional 73 shares during the period. First Horizon Advisors Inc. raised its position in shares of Boston Beer by 105.1% in the 3rd 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 lifted its stake in shares of 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 during the last quarter. GAMMA Investing LLC boosted its position in Boston Beer by 59.3% during the fourth quarter. GAMMA Investing LLC now owns 129 shares of the company’s stock valued at $39,000 after purchasing an additional 48 shares in the last quarter. Finally, True Wealth Design LLC purchased a new position in Boston Beer in the third quarter valued at about $47,000. 81.13% of the stock is currently owned by institutional investors.

Boston Beer Price Performance

Shares of SAM stock opened at $225.02 on Friday. The business has a fifty day moving average of $265.76 and a 200 day moving average of $281.64. The firm has a market capitalization of $2.58 billion, a price-to-earnings ratio of 33.09, a price-to-earnings-growth ratio of 1.24 and a beta of 1.06. The Boston Beer Company, Inc. has a 1 year low of $222.27 and a 1 year high of $371.65.

Analyst Ratings Changes

Several research firms have commented on SAM. 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 research report on Thursday, January 23rd. Needham & Company LLC initiated coverage on shares of Boston Beer in a research report on Friday, December 6th. They set a “hold” rating for the company. 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. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $318.00 price target on shares of Boston Beer in a research report on Friday, October 25th. Finally, StockNews.com cut Boston Beer from a “buy” rating to a “hold” rating in a research report on Wednesday, January 15th. One investment 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, Boston Beer currently has a consensus rating of “Hold” and a consensus target price of $302.90.

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.