HighTower Advisors LLC Lowers Holdings in The Boston Beer Company, Inc. (NYSE:SAM)

HighTower Advisors LLC reduced its position in shares of The Boston Beer Company, Inc. (NYSE:SAM) by 4.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 910 shares of the company’s stock after selling 39 shares during the period. HighTower Advisors LLC’s holdings in Boston Beer were worth $270,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in SAM. First Horizon Advisors Inc. boosted its stake 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 during the period. Covestor Ltd boosted its position in shares of Boston Beer by 36.6% during the 3rd quarter. Covestor Ltd now owns 127 shares of the company’s stock valued at $37,000 after acquiring an additional 34 shares during the last quarter. True Wealth Design LLC bought a new stake in shares of Boston Beer during the 3rd quarter valued at about $47,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Boston Beer during the third quarter worth about $49,000. Finally, Sachetta LLC increased its position in shares of Boston Beer by 1,533.3% in the second quarter. Sachetta LLC now owns 245 shares of the company’s stock worth $68,000 after purchasing an additional 230 shares during the last quarter. Institutional investors own 81.13% of the company’s stock.

Boston Beer Stock Down 2.5 %

SAM opened at $295.34 on Tuesday. The stock has a market capitalization of $3.39 billion, a price-to-earnings ratio of 43.43, a PEG ratio of 1.21 and a beta of 1.07. The firm has a 50 day moving average price of $306.67 and a 200-day moving average price of $290.55. The Boston Beer Company, Inc. has a twelve month low of $254.40 and a twelve month high of $371.65.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SAM. Jefferies Financial Group lowered shares of Boston Beer from a “buy” rating to a “hold” rating and dropped their target price for the company from $355.00 to $325.00 in a research report on Friday, October 25th. UBS Group lifted their price objective on shares of Boston Beer from $300.00 to $309.00 in a report on Thursday, October 24th. Needham & Company LLC began coverage on Boston Beer in a research note on Friday, December 6th. They issued a “hold” rating on the stock. 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. Finally, Piper Sandler increased their target price on Boston Beer from $325.00 to $330.00 and gave the company an “overweight” rating in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $314.82.

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.