Point72 Hong Kong Ltd Takes $1.75 Million Position in The Boston Beer Company, Inc. (NYSE:SAM)

Point72 Hong Kong Ltd purchased a new position in shares of The Boston Beer Company, Inc. (NYSE:SAM) in the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 6,037 shares of the company’s stock, valued at approximately $1,746,000.

Several other large investors also recently added to or reduced their stakes in the company. Savant Capital LLC bought a new position in Boston Beer during the second quarter worth about $982,000. Assenagon Asset Management S.A. boosted its holdings in Boston Beer by 190.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 46,659 shares of the company’s stock worth $14,233,000 after buying an additional 30,601 shares during the period. SW Investment Management LLC purchased a new position in Boston Beer in the 2nd quarter valued at approximately $1,525,000. Oppenheimer Asset Management Inc. raised its holdings in Boston Beer by 18.7% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 4,933 shares of the company’s stock valued at $1,505,000 after acquiring an additional 778 shares during the period. Finally, CWM LLC lifted its position in shares of Boston Beer by 726.0% during the third quarter. CWM LLC now owns 5,146 shares of the company’s stock worth $1,488,000 after acquiring an additional 4,523 shares in the last quarter. Hedge funds and other institutional investors own 81.13% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SAM. Piper Sandler lifted their price target on Boston Beer from $325.00 to $330.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Deutsche Bank Aktiengesellschaft reduced their target price on Boston Beer from $281.00 to $277.00 and set a “hold” rating for the company in a report on Thursday, October 24th. Jefferies Financial Group downgraded shares of Boston Beer from a “buy” rating to a “hold” rating and lowered their price target for the stock from $355.00 to $325.00 in a report on Friday, October 25th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $318.00 price objective on shares of Boston Beer in a research note on Friday, October 25th. Finally, Roth Mkm reiterated a “buy” rating and issued a $389.00 target price on shares of Boston Beer in a research note on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $314.82.

Boston Beer Price Performance

Shares of Boston Beer stock opened at $316.24 on Monday. The stock has a market capitalization of $3.63 billion, a P/E ratio of 46.51, a price-to-earnings-growth ratio of 1.22 and a beta of 1.06. The Boston Beer Company, Inc. has a one year low of $254.40 and a one year high of $371.65. The business’s 50 day simple moving average is $296.29 and its two-hundred day simple moving average is $286.72.

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.