EverSource Wealth Advisors LLC Acquires 89 Shares of The Boston Beer Company, Inc. (NYSE:SAM)

EverSource Wealth Advisors LLC boosted its holdings in The Boston Beer Company, Inc. (NYSE:SAM) by 2,225.0% in the fourth quarter, Holdings Channel reports. The firm owned 93 shares of the company’s stock after purchasing an additional 89 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Boston Beer were worth $28,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Entropy Technologies LP acquired a new position in shares of Boston Beer during the 4th quarter worth about $368,000. Legato Capital Management LLC acquired a new position in Boston Beer during the fourth quarter valued at approximately $1,966,000. Merit Financial Group LLC bought a new position in Boston Beer in the fourth quarter valued at approximately $434,000. Point72 Hong Kong Ltd acquired a new position in shares of Boston Beer during the 3rd quarter worth approximately $1,746,000. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Boston Beer by 5.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 94,356 shares of the company’s stock worth $28,305,000 after purchasing an additional 4,675 shares in the last quarter. 81.13% of the stock is currently owned by institutional investors and hedge funds.

Boston Beer Trading Up 3.8 %

Boston Beer stock opened at $227.58 on Friday. The company has a market capitalization of $2.56 billion, a price-to-earnings ratio of 33.47, a PEG ratio of 1.23 and a beta of 1.14. The Boston Beer Company, Inc. has a 12 month low of $215.10 and a 12 month high of $339.77. The stock’s 50 day moving average is $240.10 and its 200-day moving average is $275.95.

Analyst Ratings Changes

A number of equities analysts recently weighed in on SAM shares. Needham & Company LLC started coverage on shares of 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 research note on Wednesday, March 5th. Piper Sandler dropped their target price on shares of Boston Beer from $275.00 to $240.00 and set a “neutral” rating on the stock in a report on Wednesday, February 26th. Roth Mkm reissued a “buy” rating and set a $349.00 price target (down previously from $389.00) on shares of Boston Beer in a research report on Wednesday, February 26th. Finally, Morgan Stanley dropped their price objective on Boston Beer from $290.00 to $270.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Boston Beer has a consensus rating of “Hold” and a consensus target price of $292.40.

About Boston Beer

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.