Barclays PLC Boosts Holdings in The Boston Beer Company, Inc. (NYSE:SAM)

Barclays PLC raised its holdings in shares of The Boston Beer Company, Inc. (NYSE:SAM) by 44.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,988 shares of the company’s stock after buying an additional 3,983 shares during the period. Barclays PLC owned about 0.11% of Boston Beer worth $3,753,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. First Horizon Advisors Inc. increased its stake in shares of Boston Beer by 105.1% in the 3rd quarter. First Horizon Advisors Inc. now owns 121 shares of the company’s stock worth $35,000 after purchasing an additional 62 shares in the last quarter. Covestor Ltd increased its position in Boston Beer by 36.6% in the third quarter. Covestor Ltd now owns 127 shares of the company’s stock worth $37,000 after buying an additional 34 shares in the last quarter. True Wealth Design LLC purchased a new stake in Boston Beer in the third quarter worth about $47,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Boston Beer in the third quarter worth about $49,000. Finally, Sachetta LLC lifted its position in shares of Boston Beer by 1,533.3% during the 2nd quarter. Sachetta LLC now owns 245 shares of the company’s stock valued at $68,000 after buying an additional 230 shares in the last quarter. 81.13% of the stock is currently owned by institutional investors.

Boston Beer Stock Performance

Shares of SAM opened at $302.77 on Monday. The Boston Beer Company, Inc. has a fifty-two week low of $254.40 and a fifty-two week high of $371.65. The company’s fifty day moving average is $306.67 and its 200 day moving average is $290.63. The stock has a market capitalization of $3.48 billion, a PE ratio of 44.53, a P/E/G ratio of 1.21 and a beta of 1.07.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. UBS Group raised their target price on shares of Boston Beer from $300.00 to $309.00 in a research note on Thursday, October 24th. 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. Piper Sandler increased their price target on Boston Beer from $325.00 to $330.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Needham & Company LLC assumed coverage on Boston Beer in a research report on Friday, December 6th. They issued a “hold” rating on the stock. Finally, Jefferies Financial Group cut Boston Beer from a “buy” rating to a “hold” rating and cut their target price for the stock from $355.00 to $325.00 in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus 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.