Ontario Teachers Pension Plan Board Decreases Stake in The Boston Beer Company, Inc. (NYSE:SAM)

Ontario Teachers Pension Plan Board lessened its stake in The Boston Beer Company, Inc. (NYSE:SAM) by 52.6% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 6,178 shares of the company’s stock after selling 6,869 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Boston Beer were worth $1,786,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. LRI Investments LLC purchased a new stake in Boston Beer during the first quarter worth approximately $28,000. Natixis purchased a new stake in Boston Beer during the first quarter worth approximately $3,044,000. Gamco Investors INC. ET AL lifted its stake in Boston Beer by 16.9% during the first quarter. Gamco Investors INC. ET AL now owns 13,333 shares of the company’s stock worth $4,059,000 after purchasing an additional 1,925 shares during the last quarter. Savant Capital LLC purchased a new stake in Boston Beer during the second quarter worth approximately $982,000. Finally, Epoch Investment Partners Inc. lifted its stake in Boston Beer by 219.9% during the first quarter. Epoch Investment Partners Inc. now owns 13,431 shares of the company’s stock worth $4,089,000 after purchasing an additional 9,233 shares during the last quarter. Hedge funds and other institutional investors own 81.13% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on SAM. Jefferies Financial Group lowered Boston Beer from a “buy” rating to a “hold” rating and cut their price target for the stock from $355.00 to $325.00 in a research report on Friday, October 25th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $318.00 price target on shares of Boston Beer in a research report on Friday, October 25th. Deutsche Bank Aktiengesellschaft cut their price target on Boston Beer from $281.00 to $277.00 and set a “hold” rating on the stock in a research report on Thursday, October 24th. Piper Sandler lifted their price target on Boston Beer from $325.00 to $330.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $389.00 price target on shares of Boston Beer in a research report on Wednesday, October 23rd. 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $314.82.

Boston Beer Price Performance

Shares of SAM stock opened at $311.80 on Wednesday. The business’s fifty day moving average price is $289.73 and its 200 day moving average price is $284.98. The Boston Beer Company, Inc. has a 1-year low of $254.40 and a 1-year high of $371.65. The firm has a market capitalization of $3.58 billion, a PE ratio of 45.85, a P/E/G ratio of 1.22 and a beta of 1.06.

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.