The Boston Beer Company, Inc. (NYSE:SAM) Position Reduced by Renaissance Technologies LLC

Renaissance Technologies LLC reduced its position in The Boston Beer Company, Inc. (NYSE:SAM) by 6.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 67,879 shares of the company’s stock after selling 4,400 shares during the period. Renaissance Technologies LLC’s holdings in Boston Beer were worth $20,362,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Blue Trust Inc. grew its position in 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 in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Boston Beer by 2,225.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 93 shares of the company’s stock valued at $28,000 after buying an additional 89 shares in the last quarter. GAMMA Investing LLC raised its position in 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 buying an additional 48 shares during the period. First Horizon Advisors Inc. lifted its stake in Boston Beer by 42.1% in the 4th quarter. First Horizon Advisors Inc. now owns 172 shares of the company’s stock worth $52,000 after acquiring an additional 51 shares in the last quarter. Finally, US Bancorp DE boosted its position in Boston Beer by 67.9% during the 4th quarter. US Bancorp DE now owns 272 shares of the company’s stock worth $82,000 after acquiring an additional 110 shares during the period. Institutional investors and hedge funds own 81.13% of the company’s stock.

Boston Beer Stock Performance

SAM opened at $245.51 on Monday. The company has a market cap of $2.76 billion, a PE ratio of 36.10, a price-to-earnings-growth ratio of 1.23 and a beta of 1.26. The stock has a 50-day moving average of $235.25 and a 200-day moving average of $271.45. The Boston Beer Company, Inc. has a 52-week low of $215.10 and a 52-week high of $339.77.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Roth Mkm reiterated a “buy” rating and issued a $349.00 target price (down previously from $389.00) on shares of Boston Beer in a report on Wednesday, February 26th. StockNews.com lowered shares of Boston Beer from a “buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Citigroup raised shares of Boston Beer from a “neutral” rating to a “buy” rating and upped their price target for the stock from $265.00 to $280.00 in a research note on Thursday, March 20th. Berenberg Bank began coverage on Boston Beer in a research report on Wednesday, April 2nd. They set a “hold” rating and a $281.10 price objective for the company. Finally, Piper Sandler dropped their target price on Boston Beer from $275.00 to $240.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 26th. Ten analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Boston Beer presently has a consensus rating of “Hold” and an average target price of $295.51.

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.