Covestor Ltd Purchases 34 Shares of The Boston Beer Company, Inc. (NYSE:SAM)

Covestor Ltd boosted its stake in The Boston Beer Company, Inc. (NYSE:SAM) by 36.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 127 shares of the company’s stock after acquiring an additional 34 shares during the quarter. Covestor Ltd’s holdings in Boston Beer were worth $37,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Los Angeles Capital Management LLC increased its stake in shares of Boston Beer by 0.5% during the 2nd quarter. Los Angeles Capital Management LLC now owns 14,729 shares of the company’s stock worth $4,493,000 after purchasing an additional 74 shares during the last quarter. Gagnon Securities LLC lifted its holdings in shares of Boston Beer by 0.5% during the 1st quarter. Gagnon Securities LLC now owns 16,893 shares of the company’s stock worth $5,143,000 after acquiring an additional 80 shares during the period. QV Investors Inc. lifted its holdings in shares of Boston Beer by 0.4% during the 3rd quarter. QV Investors Inc. now owns 20,650 shares of the company’s stock worth $5,971,000 after acquiring an additional 80 shares during the period. DekaBank Deutsche Girozentrale lifted its stake in Boston Beer by 61.3% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 250 shares of the company’s stock valued at $75,000 after purchasing an additional 95 shares during the last quarter. Finally, LRI Investments LLC bought a new position in Boston Beer in the 1st quarter valued at approximately $28,000. 81.13% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on SAM. Jefferies Financial Group cut shares of Boston Beer from a “buy” rating to a “hold” rating and decreased their price target for the company from $355.00 to $325.00 in a research report on Friday, October 25th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Boston Beer from $281.00 to $277.00 and set a “hold” rating for the company in a report on Thursday, October 24th. Royal Bank of Canada reiterated a “sector perform” rating and set a $318.00 price objective on shares of Boston Beer in a report on Friday, October 25th. Roth Mkm restated a “buy” rating and set a $389.00 price target on shares of Boston Beer in a report on Wednesday, October 23rd. Finally, UBS Group boosted their target price on shares of Boston Beer from $300.00 to $309.00 in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $314.82.

Boston Beer Trading Down 0.8 %

NYSE SAM opened at $318.17 on Friday. The Boston Beer Company, Inc. has a 12 month low of $254.40 and a 12 month high of $371.65. The stock has a market cap of $3.65 billion, a price-to-earnings ratio of 46.79, a PEG ratio of 1.24 and a beta of 1.06. The company’s 50 day moving average is $288.17 and its two-hundred day moving average is $284.41.

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.