Bridgewater Associates LP Trims Stock Position in The Boston Beer Company, Inc. (NYSE:SAM)

Bridgewater Associates LP trimmed its holdings in The Boston Beer Company, Inc. (NYSE:SAM) by 15.6% during the third quarter, Holdings Channel reports. The institutional investor owned 2,392 shares of the company’s stock after selling 442 shares during the period. Bridgewater Associates LP’s holdings in Boston Beer were worth $692,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Covestor Ltd raised its position in shares of Boston Beer by 36.6% in the 3rd quarter. Covestor Ltd now owns 127 shares of the company’s stock worth $37,000 after buying an additional 34 shares during the period. First Horizon Advisors Inc. increased 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 worth $35,000 after acquiring an additional 62 shares during the last quarter. Great Valley Advisor Group Inc. raised its holdings in shares of Boston Beer by 8.5% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 867 shares of the company’s stock worth $251,000 after purchasing an additional 68 shares during the period. Los Angeles Capital Management LLC lifted its stake in shares of Boston Beer by 0.5% in the 2nd quarter. Los Angeles Capital Management LLC now owns 14,729 shares of the company’s stock valued at $4,493,000 after purchasing an additional 74 shares in the last quarter. Finally, QV Investors Inc. grew 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 purchasing an additional 80 shares during the period. Hedge funds and other institutional investors own 81.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on SAM shares. Piper Sandler upped their price target on shares of Boston Beer from $325.00 to $330.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. UBS Group increased their target price on Boston Beer from $300.00 to $309.00 in a research note on Thursday, October 24th. Jefferies Financial Group downgraded 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 report on Friday, October 25th. Roth Mkm restated a “buy” rating and issued a $389.00 target price on shares of Boston Beer in a research note on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on Boston Beer from $281.00 to $277.00 and set a “hold” rating for the company in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $314.82.

Boston Beer Trading Down 0.4 %

Shares of SAM opened at $314.92 on Tuesday. The Boston Beer Company, Inc. has a 52 week low of $254.40 and a 52 week high of $371.65. The firm has a market cap of $3.62 billion, a price-to-earnings ratio of 46.31, a PEG ratio of 1.22 and a beta of 1.06. The stock has a 50 day moving average of $296.29 and a 200-day moving average of $286.76.

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.