161 Shares in The Boston Beer Company, Inc. (NYSE:SAM) Purchased by True Wealth Design LLC

True Wealth Design LLC acquired a new position in shares of The Boston Beer Company, Inc. (NYSE:SAM) during the 3rd quarter, Holdings Channel.com reports. The fund acquired 161 shares of the company’s stock, valued at approximately $47,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of SAM. Dimensional Fund Advisors LP lifted its holdings in shares of Boston Beer by 17.0% during the second quarter. Dimensional Fund Advisors LP now owns 182,972 shares of the company’s stock valued at $55,814,000 after purchasing an additional 26,538 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Boston Beer by 8.1% in the second quarter. Bank of New York Mellon Corp now owns 133,486 shares of the company’s stock worth $40,720,000 after acquiring an additional 9,997 shares in the last quarter. D. E. Shaw & Co. Inc. grew its stake in shares of Boston Beer by 80.0% in the second quarter. D. E. Shaw & Co. Inc. now owns 114,736 shares of the company’s stock worth $35,000,000 after acquiring an additional 51,003 shares during the last quarter. Armistice Capital LLC increased its holdings in shares of Boston Beer by 1.1% during the second quarter. Armistice Capital LLC now owns 97,292 shares of the company’s stock valued at $29,679,000 after acquiring an additional 1,093 shares in the last quarter. Finally, Mesirow Institutional Investment Management Inc. purchased a new position in shares of Boston Beer in the 2nd quarter worth about $16,014,000. Hedge funds and other institutional investors own 81.13% of the company’s stock.

Boston Beer Stock Performance

Shares of NYSE:SAM opened at $316.24 on Monday. The stock’s 50-day simple moving average is $296.29 and its two-hundred day simple moving average is $286.72. The stock has a market capitalization of $3.63 billion, a price-to-earnings ratio of 46.51, a PEG ratio of 1.22 and a beta of 1.06. The Boston Beer Company, Inc. has a 52-week low of $254.40 and a 52-week high of $371.65.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Royal Bank of Canada restated a “sector perform” rating and set a $318.00 price objective on shares of Boston Beer in a research note on Friday, October 25th. Jefferies Financial Group downgraded shares of Boston Beer from a “buy” rating to a “hold” rating and reduced their price target for the company from $355.00 to $325.00 in a research report on Friday, October 25th. Deutsche Bank Aktiengesellschaft lowered their price objective 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. UBS Group boosted their price target on Boston Beer from $300.00 to $309.00 in a research note on Thursday, October 24th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $389.00 price target on shares of Boston Beer in a report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $314.82.

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.