Intech Investment Management LLC Has $451,000 Stock Position in The Boston Beer Company, Inc. (NYSE:SAM)

Intech Investment Management LLC lessened its stake in shares of The Boston Beer Company, Inc. (NYSE:SAM) by 42.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,560 shares of the company’s stock after selling 1,172 shares during the period. Intech Investment Management LLC’s holdings in Boston Beer were worth $451,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in SAM. Dimensional Fund Advisors LP grew its position in Boston Beer by 17.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 182,972 shares of the company’s stock worth $55,814,000 after purchasing an additional 26,538 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Boston Beer by 8.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 133,486 shares of the company’s stock worth $40,720,000 after acquiring an additional 9,997 shares in the last quarter. D. E. Shaw & Co. Inc. increased its holdings in shares of Boston Beer by 80.0% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 114,736 shares of the company’s stock valued at $35,000,000 after acquiring an additional 51,003 shares during the last quarter. Armistice Capital LLC raised its stake in shares of Boston Beer by 1.1% in the 2nd quarter. Armistice Capital LLC now owns 97,292 shares of the company’s stock valued at $29,679,000 after acquiring an additional 1,093 shares in the last quarter. Finally, Mesirow Institutional Investment Management Inc. bought a new stake in Boston Beer during the second quarter worth approximately $16,014,000. 81.13% of the stock is owned by hedge funds and other institutional investors.

Boston Beer Price Performance

Shares of Boston Beer stock opened at $314.92 on Tuesday. The Boston Beer Company, Inc. has a one year low of $254.40 and a one year high of $371.65. The stock’s 50-day moving average is $296.29 and its 200 day moving average is $286.76. The firm has a market cap of $3.62 billion, a price-to-earnings ratio of 46.51, a PEG ratio of 1.22 and a beta of 1.06.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on SAM shares. Roth Mkm restated a “buy” rating and set a $389.00 target price on shares of Boston Beer in a research note on Wednesday, October 23rd. Royal Bank of Canada restated a “sector perform” rating and set a $318.00 price target on shares of Boston Beer in a research note on Friday, October 25th. Deutsche Bank Aktiengesellschaft lowered their price objective on Boston Beer from $281.00 to $277.00 and set a “hold” rating on the stock in a research report on Thursday, October 24th. Piper Sandler boosted their price target on shares of Boston Beer from $325.00 to $330.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Finally, UBS Group lifted their target price on shares of Boston Beer from $300.00 to $309.00 in a research report 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 company. According to MarketBeat, Boston Beer currently has a consensus rating of “Hold” and an average price target of $314.82.

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.