The Boston Beer Company, Inc. (NYSE:SAM) Shares Purchased by Verition Fund Management LLC

Verition Fund Management LLC grew its position in shares of The Boston Beer Company, Inc. (NYSE:SAM) by 582.6% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,693 shares of the company’s stock after purchasing an additional 16,808 shares during the period. Verition Fund Management LLC’s holdings in Boston Beer were worth $5,694,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of SAM. Captrust Financial Advisors lifted its stake in Boston Beer by 258.8% during the 3rd quarter. Captrust Financial Advisors now owns 2,558 shares of the company’s stock worth $740,000 after acquiring an additional 1,845 shares in the last quarter. BNP Paribas Financial Markets increased its stake in Boston Beer by 104.8% during the third quarter. BNP Paribas Financial Markets now owns 1,440 shares of the company’s stock worth $416,000 after purchasing an additional 737 shares during the period. Quantbot Technologies LP acquired a new stake in shares of Boston Beer during the third quarter worth about $1,483,000. Cerity Partners LLC purchased a new position in shares of Boston Beer in the third quarter valued at approximately $2,750,000. Finally, Great Valley Advisor Group Inc. grew its holdings in shares of Boston Beer by 8.5% in the third quarter. Great Valley Advisor Group Inc. now owns 867 shares of the company’s stock valued at $251,000 after purchasing an additional 68 shares in the last quarter. 81.13% of the stock is currently owned by hedge funds and other institutional investors.

Boston Beer Stock Down 0.4 %

Shares of SAM opened at $314.92 on Tuesday. The company has a market capitalization of $3.62 billion, a price-to-earnings ratio of 46.31, a price-to-earnings-growth ratio of 1.22 and a beta of 1.06. The Boston Beer Company, Inc. has a 52-week low of $254.40 and a 52-week high of $371.65. The stock has a 50 day moving average price of $296.29 and a 200 day moving average price of $286.76.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on SAM shares. Jefferies Financial Group lowered shares of Boston Beer from a “buy” rating to a “hold” rating and reduced their target price for the stock from $355.00 to $325.00 in a report on Friday, October 25th. Deutsche Bank Aktiengesellschaft decreased 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. Royal Bank of Canada restated a “sector perform” rating and set a $318.00 price target on shares of Boston Beer in a report on Friday, October 25th. Piper Sandler lifted their price objective on Boston Beer from $325.00 to $330.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Finally, 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. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Boston Beer presently has an average rating of “Hold” and an average price target 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.