The Boston Beer Company, Inc. (NYSE:SAM) Shares Sold by Hudson Edge Investment Partners Inc.

Hudson Edge Investment Partners Inc. lessened its holdings in shares of The Boston Beer Company, Inc. (NYSE:SAM) by 33.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 913 shares of the company’s stock after selling 458 shares during the quarter. Hudson Edge Investment Partners Inc.’s holdings in Boston Beer were worth $274,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Ieq Capital LLC increased its position in Boston Beer by 688.3% during the 4th quarter. Ieq Capital LLC now owns 15,379 shares of the company’s stock worth $4,613,000 after purchasing an additional 13,428 shares in the last quarter. Alberta Investment Management Corp increased its position in Boston Beer by 67.2% during the 4th quarter. Alberta Investment Management Corp now owns 11,540 shares of the company’s stock worth $3,462,000 after purchasing an additional 4,640 shares in the last quarter. Cardinal Capital Management increased its position in Boston Beer by 4.8% during the 4th quarter. Cardinal Capital Management now owns 5,991 shares of the company’s stock worth $1,797,000 after purchasing an additional 272 shares in the last quarter. Venturi Wealth Management LLC increased its position in Boston Beer by 66.9% during the 4th quarter. Venturi Wealth Management LLC now owns 836 shares of the company’s stock worth $251,000 after purchasing an additional 335 shares in the last quarter. Finally, Capital Performance Advisors LLP grew its position in Boston Beer by 57.5% in the fourth quarter. Capital Performance Advisors LLP now owns 753 shares of the company’s stock valued at $226,000 after acquiring an additional 275 shares in the last quarter. Institutional investors and hedge funds own 81.13% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SAM. UBS Group lowered their price objective on shares of Boston Beer from $315.00 to $290.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Piper Sandler downgraded shares of Boston Beer from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $370.00 to $275.00 in a research report on Thursday, January 23rd. StockNews.com downgraded shares of Boston Beer from a “buy” rating to a “hold” rating in a research report on Wednesday, January 15th. Needham & Company LLC began coverage on shares of Boston Beer in a research report on Friday, December 6th. They issued a “hold” rating for the company. Finally, Citigroup reduced their target price on Boston Beer from $335.00 to $290.00 and set a “neutral” rating for the company in a research note on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $302.90.

Boston Beer Price Performance

Shares of NYSE SAM opened at $226.95 on Friday. The Boston Beer Company, Inc. has a 1-year low of $222.27 and a 1-year high of $371.65. The business’s fifty day moving average price is $263.99 and its two-hundred day moving average price is $281.45. The firm has a market capitalization of $2.61 billion, a PE ratio of 33.38, a P/E/G ratio of 1.23 and a beta of 1.06.

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.