HighTower Advisors LLC Increases Stock Position in The Boston Beer Company, Inc. (NYSE:SAM)

HighTower Advisors LLC boosted its holdings in shares of The Boston Beer Company, Inc. (NYSE:SAM) by 13.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,033 shares of the company’s stock after purchasing an additional 123 shares during the period. HighTower Advisors LLC’s holdings in Boston Beer were worth $310,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Blue Trust Inc. raised its holdings in Boston Beer by 405.6% in the 4th quarter. Blue Trust Inc. now owns 91 shares of the company’s stock worth $26,000 after purchasing an additional 73 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Boston Beer by 59.3% during the 4th quarter. GAMMA Investing LLC now owns 129 shares of the company’s stock valued at $39,000 after buying an additional 48 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Boston Beer in the 3rd quarter worth about $49,000. First Horizon Advisors Inc. grew its holdings in Boston Beer by 42.1% in the fourth quarter. First Horizon Advisors Inc. now owns 172 shares of the company’s stock worth $52,000 after purchasing an additional 51 shares during the period. Finally, US Bancorp DE boosted its position in shares of Boston Beer by 67.9% in the 4th quarter. US Bancorp DE now owns 272 shares of the company’s stock worth $82,000 after purchasing an additional 110 shares in the last quarter. Hedge funds and other institutional investors own 81.13% of the company’s stock.

Boston Beer Price Performance

NYSE:SAM opened at $243.37 on Wednesday. The Boston Beer Company, Inc. has a one year low of $215.10 and a one year high of $339.77. The business has a fifty day moving average price of $237.21 and a 200-day moving average price of $273.85. The firm has a market capitalization of $2.74 billion, a price-to-earnings ratio of 35.79, a price-to-earnings-growth ratio of 1.23 and a beta of 1.14.

Analyst Upgrades and Downgrades

Several research firms have commented on SAM. Roth Mkm reissued a “buy” rating and issued a $349.00 target price (down from $389.00) on shares of Boston Beer in a report on Wednesday, February 26th. Citigroup upgraded shares of Boston Beer from a “neutral” rating to a “buy” rating and upped their target price for the stock from $265.00 to $280.00 in a research note on Thursday, March 20th. UBS Group decreased their target price on Boston Beer from $315.00 to $290.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. StockNews.com downgraded shares of Boston Beer from a “buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Finally, Piper Sandler lowered their price target on Boston Beer from $275.00 to $240.00 and set a “neutral” rating on the stock in a report on Wednesday, February 26th. One investment 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 company currently has a consensus rating of “Hold” and an average price target of $292.40.

Boston Beer Company 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.