Venturi Wealth Management LLC Grows Position in The Boston Beer Company, Inc. (NYSE:SAM)

Venturi Wealth Management LLC grew its stake in The Boston Beer Company, Inc. (NYSE:SAM) by 1,065.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 501 shares of the company’s stock after buying an additional 458 shares during the quarter. Venturi Wealth Management LLC’s holdings in Boston Beer were worth $145,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in SAM. LRI Investments LLC bought a new stake in Boston Beer during the 1st quarter worth approximately $28,000. Seven Eight Capital LP raised its position in shares of Boston Beer by 160.0% during the 1st quarter. Seven Eight Capital LP now owns 4,940 shares of the company’s stock valued at $1,504,000 after purchasing an additional 3,040 shares during the period. Natixis purchased a new position in shares of Boston Beer during the 1st quarter valued at $3,044,000. Gamco Investors INC. ET AL boosted its holdings in Boston Beer by 16.9% in the 1st quarter. Gamco Investors INC. ET AL now owns 13,333 shares of the company’s stock worth $4,059,000 after buying an additional 1,925 shares during the period. Finally, Savant Capital LLC purchased a new stake in Boston Beer in the 2nd quarter worth $982,000. Institutional investors own 81.13% of the company’s stock.

Wall Street Analyst Weigh In

SAM has been the topic of a number of recent analyst reports. Royal Bank of Canada reissued a “sector perform” rating and set a $318.00 price target on shares of Boston Beer 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 on the stock in a research note on Thursday, October 24th. Jefferies Financial Group downgraded 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 lifted their price objective on shares of Boston Beer from $325.00 to $330.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Finally, UBS Group upped their target price on shares of Boston Beer from $300.00 to $309.00 in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Boston Beer currently has an average rating of “Hold” and an average target price of $314.82.

Boston Beer Stock Up 2.1 %

Shares of NYSE:SAM opened at $324.10 on Thursday. The firm has a fifty day simple moving average of $286.72 and a two-hundred day simple moving average of $283.93. 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 market capitalization of $3.72 billion, a P/E ratio of 47.66, a PEG ratio of 1.22 and a beta of 1.06.

Boston Beer 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.