Assetmark Inc. Acquires 457 Shares of The Boston Beer Company, Inc. (NYSE:SAM)

Assetmark Inc. boosted its stake in shares of The Boston Beer Company, Inc. (NYSE:SAM) by 12.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,154 shares of the company’s stock after acquiring an additional 457 shares during the quarter. Assetmark Inc.’s holdings in Boston Beer were worth $1,201,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. LRI Investments LLC bought a new position in shares of Boston Beer during the 1st quarter valued at approximately $28,000. ORG Partners LLC bought a new position in Boston Beer during the second quarter valued at $48,000. Sachetta LLC lifted its holdings in shares of Boston Beer by 1,533.3% in the 2nd quarter. Sachetta LLC now owns 245 shares of the company’s stock worth $68,000 after acquiring an additional 230 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its stake in shares of Boston Beer by 61.3% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 250 shares of the company’s stock worth $75,000 after purchasing an additional 95 shares during the period. Finally, Quarry LP grew its holdings in Boston Beer by 984.0% during the 2nd quarter. Quarry LP now owns 271 shares of the company’s stock valued at $83,000 after purchasing an additional 246 shares during the last quarter. 81.13% of the stock is currently owned by hedge funds and other institutional investors.

Boston Beer Price Performance

NYSE:SAM opened at $320.59 on Friday. The Boston Beer Company, Inc. has a 1-year low of $254.40 and a 1-year high of $371.65. The company has a 50-day moving average of $287.50 and a 200 day moving average of $284.19. The firm has a market cap of $3.68 billion, a PE ratio of 47.15, a price-to-earnings-growth ratio of 1.22 and a beta of 1.06.

Analyst Ratings Changes

SAM has been the subject of several analyst reports. Royal Bank of Canada reissued a “sector perform” rating and issued a $318.00 price objective on shares of Boston Beer in a research note on Friday, October 25th. Piper Sandler raised their price target on Boston Beer from $325.00 to $330.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. UBS Group upped their price objective on Boston Beer from $300.00 to $309.00 in a research report on Thursday, October 24th. Roth Mkm reiterated a “buy” rating and set a $389.00 target price on shares of Boston Beer in a research report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of Boston Beer from $281.00 to $277.00 and set a “hold” rating on the stock in a report on Thursday, October 24th. One investment 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’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus 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.