Quest Partners LLC Acquires Shares of 1,171 The Boston Beer Company, Inc. (NYSE:SAM)

Quest Partners LLC purchased a new position in shares of The Boston Beer Company, Inc. (NYSE:SAM) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,171 shares of the company’s stock, valued at approximately $339,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Claro Advisors LLC bought a new stake in Boston Beer during the third quarter valued at about $268,000. GSA Capital Partners LLP bought a new stake in Boston Beer during the third quarter valued at about $1,209,000. Versor Investments LP boosted its position in Boston Beer by 41.1% during the third quarter. Versor Investments LP now owns 2,362 shares of the company’s stock valued at $683,000 after purchasing an additional 688 shares in the last quarter. Venturi Wealth Management LLC boosted its position in Boston Beer by 1,065.1% during the third quarter. Venturi Wealth Management LLC now owns 501 shares of the company’s stock valued at $145,000 after purchasing an additional 458 shares in the last quarter. Finally, Covestor Ltd boosted its position in Boston Beer by 36.6% during the third quarter. Covestor Ltd now owns 127 shares of the company’s stock valued at $37,000 after purchasing an additional 34 shares in the last quarter. Institutional investors own 81.13% of the company’s stock.

Boston Beer Trading Up 0.9 %

Shares of SAM stock opened at $315.70 on Tuesday. The stock has a 50 day moving average of $293.10 and a 200 day moving average of $285.95. The stock has a market cap of $3.62 billion, a P/E ratio of 46.43, a P/E/G ratio of 1.20 and a beta of 1.06. The Boston Beer Company, Inc. has a twelve month low of $254.40 and a twelve month high of $371.65.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on SAM. UBS Group raised their price objective on Boston Beer from $300.00 to $309.00 in a research report on Thursday, October 24th. Piper Sandler increased their price target on Boston Beer from $325.00 to $330.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Roth Mkm reiterated a “buy” rating and issued a $389.00 price target on shares of Boston Beer in a research note on Wednesday, October 23rd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $318.00 price target on shares of Boston Beer in a research note on Friday, October 25th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on Boston Beer from $281.00 to $277.00 and set a “hold” rating for the company in a research note 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 assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price 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.