The Boston Beer Company, Inc. (NYSE:SAM) Shares Sold by American Century Companies Inc.

American Century Companies Inc. cut its stake in shares of The Boston Beer Company, Inc. (NYSE:SAM) by 12.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 39,345 shares of the company’s stock after selling 5,501 shares during the period. American Century Companies Inc.’s holdings in Boston Beer were worth $11,803,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SAM. Blue Trust Inc. raised its position in shares of Boston Beer by 405.6% during the 4th quarter. Blue Trust Inc. now owns 91 shares of the company’s stock worth $26,000 after purchasing an additional 73 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in Boston Beer by 2,225.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 93 shares of the company’s stock worth $28,000 after buying an additional 89 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Boston Beer by 59.3% during the fourth quarter. GAMMA Investing LLC now owns 129 shares of the company’s stock valued at $39,000 after acquiring an additional 48 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Boston Beer in the third quarter valued at approximately $49,000. Finally, First Horizon Advisors Inc. boosted its stake in shares of Boston Beer by 42.1% in the fourth quarter. First Horizon Advisors Inc. now owns 172 shares of the company’s stock worth $52,000 after acquiring an additional 51 shares during the last quarter. 81.13% of the stock is owned by hedge funds and other institutional investors.

Boston Beer Stock Up 1.9 %

Shares of Boston Beer stock opened at $243.37 on Wednesday. The firm has a market cap of $2.74 billion, a PE ratio of 35.79, a price-to-earnings-growth ratio of 1.23 and a beta of 1.14. The Boston Beer Company, Inc. has a 52 week low of $215.10 and a 52 week high of $339.77. The business’s fifty day simple moving average is $237.21 and its 200-day simple moving average is $273.85.

Analysts Set New Price Targets

A number of brokerages have weighed in on SAM. Morgan Stanley decreased their price objective on Boston Beer from $290.00 to $270.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 26th. Roth Mkm reissued a “buy” rating and issued a $349.00 price target (down from $389.00) on shares of Boston Beer in a research note on Wednesday, February 26th. Needham & Company LLC initiated coverage on shares of Boston Beer in a research note on Friday, December 6th. They set a “hold” rating for the company. Citigroup raised shares of Boston Beer from a “neutral” rating to a “buy” rating and raised their target price for the stock from $265.00 to $280.00 in a research note on Thursday, March 20th. Finally, Piper Sandler dropped their price target on Boston Beer from $275.00 to $240.00 and set a “neutral” rating for the company in a research report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Boston Beer currently has a consensus rating of “Hold” and a consensus price target 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.