Sanctuary Advisors LLC Boosts Holdings in The Boston Beer Company, Inc. (NYSE:SAM)

Sanctuary Advisors LLC boosted its stake in The Boston Beer Company, Inc. (NYSE:SAM) by 176.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,078 shares of the company’s stock after acquiring an additional 1,326 shares during the period. Sanctuary Advisors LLC’s holdings in Boston Beer were worth $650,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mesirow Institutional Investment Management Inc. bought a new stake in shares of Boston Beer in the 2nd quarter worth approximately $16,014,000. D. E. Shaw & Co. Inc. increased its position in Boston Beer by 80.0% in the second quarter. D. E. Shaw & Co. Inc. now owns 114,736 shares of the company’s stock worth $35,000,000 after buying an additional 51,003 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Boston Beer by 17.0% in the second quarter. Dimensional Fund Advisors LP now owns 182,972 shares of the company’s stock valued at $55,814,000 after buying an additional 26,538 shares during the period. State Street Corp lifted its position in shares of Boston Beer by 7.8% during the 3rd quarter. State Street Corp now owns 292,643 shares of the company’s stock valued at $84,615,000 after buying an additional 21,276 shares during the last quarter. Finally, Quantinno Capital Management LP grew its stake in shares of Boston Beer by 647.7% during the 3rd quarter. Quantinno Capital Management LP now owns 21,064 shares of the company’s stock worth $6,090,000 after acquiring an additional 18,247 shares during the period. 81.13% of the stock is currently owned by hedge funds and other institutional investors.

Boston Beer Trading Up 1.7 %

SAM stock opened at $300.33 on Wednesday. The Boston Beer Company, Inc. has a 1-year low of $254.40 and a 1-year high of $371.65. The stock has a market cap of $3.45 billion, a price-to-earnings ratio of 44.17, a price-to-earnings-growth ratio of 1.21 and a beta of 1.07. The company’s 50 day moving average is $307.54 and its 200 day moving average is $290.61.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on SAM shares. Needham & Company LLC began coverage on shares of Boston Beer in a report on Friday, December 6th. They set a “hold” rating on the stock. Piper Sandler upped their price target on shares of Boston Beer from $325.00 to $330.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Jefferies Financial Group cut shares of 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 report on Friday, October 25th. Royal Bank of Canada restated a “sector perform” rating and set a $318.00 target price on shares of Boston Beer in a research report on Friday, October 25th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on 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 investment analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $314.82.

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.