Alliancebernstein L.P. Lowers Holdings in The Boston Beer Company, Inc. (NYSE:SAM)

Alliancebernstein L.P. lowered its holdings in The Boston Beer Company, Inc. (NYSE:SAM) by 2.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,671 shares of the company’s stock after selling 224 shares during the quarter. Alliancebernstein L.P. owned 0.08% of Boston Beer worth $2,901,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC grew its holdings in Boston Beer by 59.3% in the fourth quarter. GAMMA Investing LLC now owns 129 shares of the company’s stock valued at $39,000 after purchasing an additional 48 shares during the last quarter. First Horizon Advisors Inc. grew 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 valued at $52,000 after acquiring an additional 51 shares during the last quarter. Exchange Traded Concepts LLC grew its stake in Boston Beer by 2.5% in the 4th quarter. Exchange Traded Concepts LLC now owns 2,630 shares of the company’s stock valued at $789,000 after acquiring an additional 65 shares during the last quarter. National Bank of Canada FI increased its holdings in Boston Beer by 10.0% during the 3rd quarter. National Bank of Canada FI now owns 793 shares of the company’s stock valued at $229,000 after acquiring an additional 72 shares in the last quarter. Finally, Blue Trust Inc. raised its position in Boston Beer by 405.6% during the fourth quarter. Blue Trust Inc. now owns 91 shares of the company’s stock worth $26,000 after acquiring an additional 73 shares during the last quarter. 81.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Citigroup raised their price objective on shares of Boston Beer from $280.00 to $285.00 and gave the stock a “buy” rating in a research note on Monday. StockNews.com downgraded Boston Beer from a “buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Piper Sandler reduced their price objective 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. Berenberg Bank started 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, UBS Group cut their target price on shares of Boston Beer from $315.00 to $290.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Ten research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $296.01.

Boston Beer Stock Performance

SAM opened at $242.76 on Wednesday. The Boston Beer Company, Inc. has a 1 year low of $215.10 and a 1 year high of $339.77. The company’s 50 day simple moving average is $235.25 and its 200 day simple moving average is $270.97. The stock has a market capitalization of $2.73 billion, a PE ratio of 35.70, a P/E/G ratio of 1.23 and a beta of 1.26.

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.