HighTower Advisors LLC Sells 39 Shares of The Boston Beer Company, Inc. (NYSE:SAM)

HighTower Advisors LLC trimmed its position in shares of The Boston Beer Company, Inc. (NYSE:SAM) by 4.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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 reporting period.

Other hedge funds also recently bought and sold shares of the company. Mesirow Institutional Investment Management Inc. bought a new stake in Boston Beer during the second quarter valued at about $16,014,000. D. E. Shaw & Co. Inc. grew its position in shares of Boston Beer by 80.0% during the second quarter. D. E. Shaw & Co. Inc. now owns 114,736 shares of the company’s stock worth $35,000,000 after purchasing an additional 51,003 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Boston Beer by 17.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 182,972 shares of the company’s stock valued at $55,814,000 after purchasing an additional 26,538 shares during the period. Verition Fund Management LLC lifted its holdings in Boston Beer by 582.6% in the 3rd quarter. Verition Fund Management LLC now owns 19,693 shares of the company’s stock worth $5,694,000 after purchasing an additional 16,808 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new position in Boston Beer in the 3rd quarter worth approximately $45,150,000. Institutional investors own 81.13% of the company’s stock.

Boston Beer Price Performance

Shares of NYSE SAM opened at $295.34 on Tuesday. The company has a market cap of $3.39 billion, a P/E ratio of 43.43, a PEG ratio of 1.21 and a beta of 1.07. The firm has a 50-day simple moving average of $306.67 and a two-hundred day simple moving average of $290.55. The Boston Beer Company, Inc. has a 1 year low of $254.40 and a 1 year high of $371.65.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Needham & Company LLC assumed coverage on shares of Boston Beer in a research report on Friday, December 6th. They set a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Boston Beer from $281.00 to $277.00 and set a “hold” rating on the stock in a report on Thursday, October 24th. UBS Group increased their price objective on shares of Boston Beer from $300.00 to $309.00 in a report on Thursday, October 24th. Jefferies Financial Group downgraded Boston Beer from a “buy” rating to a “hold” rating and lowered their target price for the company from $355.00 to $325.00 in a research report on Friday, October 25th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $318.00 price target on shares of Boston Beer in a research 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 data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price 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.