Summit Place Financial Advisors LLC Sells 764 Shares of The Boston Beer Company, Inc. (NYSE:SAM)

Summit Place Financial Advisors LLC trimmed its stake in shares of The Boston Beer Company, Inc. (NYSE:SAM) by 30.7% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,724 shares of the company’s stock after selling 764 shares during the period. Summit Place Financial Advisors LLC’s holdings in Boston Beer were worth $517,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Covestor Ltd grew its stake in shares of Boston Beer by 36.6% in the 3rd quarter. Covestor Ltd now owns 127 shares of the company’s stock worth $37,000 after buying an additional 34 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Boston Beer by 59.3% during the 4th quarter. GAMMA Investing LLC now owns 129 shares of the company’s stock worth $39,000 after purchasing an additional 48 shares during the period. First Horizon Advisors Inc. boosted its stake in shares of Boston Beer by 105.1% during the 3rd quarter. First Horizon Advisors Inc. now owns 121 shares of the company’s stock worth $35,000 after purchasing an additional 62 shares during the period. Exchange Traded Concepts LLC boosted its stake in shares of Boston Beer by 2.5% during the 4th quarter. Exchange Traded Concepts LLC now owns 2,630 shares of the company’s stock worth $789,000 after purchasing an additional 65 shares during the period. Finally, Great Valley Advisor Group Inc. boosted its stake in shares of Boston Beer by 8.5% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 867 shares of the company’s stock worth $251,000 after purchasing an additional 68 shares during the period. 81.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SAM has been the subject of a number of recent analyst reports. Jefferies Financial Group cut shares of Boston Beer from a “buy” rating to a “hold” rating and dropped their price target for the stock from $355.00 to $325.00 in a research note on Friday, October 25th. Piper Sandler cut shares of Boston Beer from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $370.00 to $275.00 in a research note on Thursday, January 23rd. UBS Group decreased their price objective on shares of Boston Beer from $315.00 to $290.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Needham & Company LLC started coverage on shares of Boston Beer in a report on Friday, December 6th. They set a “hold” rating for the company. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Boston Beer from $281.00 to $277.00 and set a “hold” rating for the company in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $302.90.

Boston Beer Price Performance

SAM stock opened at $226.07 on Wednesday. The firm’s fifty day simple moving average is $269.43 and its 200-day simple moving average is $282.43. The company has a market capitalization of $2.60 billion, a P/E ratio of 33.25, a price-to-earnings-growth ratio of 1.27 and a beta of 1.06. The Boston Beer Company, Inc. has a 12 month low of $223.07 and a 12 month high of $371.65.

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.