Wealth Enhancement Advisory Services LLC Has $1.67 Million Stock Position in The Boston Beer Company, Inc. (NYSE:SAM)

Wealth Enhancement Advisory Services LLC lifted its stake in The Boston Beer Company, Inc. (NYSE:SAM) by 1.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 5,788 shares of the company’s stock after buying an additional 74 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Boston Beer were worth $1,674,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Point72 Hong Kong Ltd acquired a new position in Boston Beer in the third quarter valued at about $1,746,000. Barclays PLC boosted its holdings in shares of Boston Beer by 44.2% in the 3rd quarter. Barclays PLC now owns 12,988 shares of the company’s stock worth $3,753,000 after acquiring an additional 3,983 shares in the last quarter. SW Investment Management LLC bought a new stake in Boston Beer during the 2nd quarter worth approximately $1,525,000. Verition Fund Management LLC increased its holdings in Boston Beer by 582.6% during the 3rd quarter. Verition Fund Management LLC now owns 19,693 shares of the company’s stock valued at $5,694,000 after purchasing an additional 16,808 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. raised its position in Boston Beer by 18.7% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 4,933 shares of the company’s stock valued at $1,505,000 after purchasing an additional 778 shares during the last quarter. 81.13% of the stock is owned by institutional investors and hedge funds.

Boston Beer Price Performance

Shares of NYSE SAM opened at $256.26 on Thursday. The Boston Beer Company, Inc. has a fifty-two week low of $253.13 and a fifty-two week high of $371.65. The firm has a market capitalization of $2.94 billion, a P/E ratio of 37.69, a P/E/G ratio of 1.21 and a beta of 1.08. The company’s 50 day simple moving average is $304.24 and its 200 day simple moving average is $289.68.

Analyst Upgrades and Downgrades

SAM has been the topic of several research analyst reports. Needham & Company LLC assumed coverage on Boston Beer in a report on Friday, December 6th. They set a “hold” rating on the stock. StockNews.com lowered shares of Boston Beer from a “buy” rating to a “hold” rating in a report on Wednesday. Jefferies Financial Group downgraded shares of Boston Beer from a “buy” rating to a “hold” rating and dropped their target price for the stock from $355.00 to $325.00 in a research note on Friday, October 25th. UBS Group increased their price target on shares of Boston Beer from $300.00 to $309.00 in a research note on Thursday, October 24th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Boston Beer from $281.00 to $277.00 and set a “hold” rating for the company in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Boston Beer presently has an average rating of “Hold” and an average target price of $312.55.

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.