102,478 Shares in The Boston Beer Company, Inc. (NYSE:SAM) Purchased by Norges Bank

Norges Bank acquired a new position in shares of The Boston Beer Company, Inc. (NYSE:SAM) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 102,478 shares of the company’s stock, valued at approximately $30,741,000.

Several other hedge funds have also added to or reduced their stakes in the stock. BNP Paribas Financial Markets lifted its position in shares of Boston Beer by 104.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,440 shares of the company’s stock valued at $416,000 after buying an additional 737 shares during the last quarter. Captrust Financial Advisors raised its stake in Boston Beer by 258.8% in the 3rd quarter. Captrust Financial Advisors now owns 2,558 shares of the company’s stock valued at $740,000 after acquiring an additional 1,845 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Boston Beer during the third quarter valued at about $49,000. Stifel Financial Corp boosted its position in Boston Beer by 15.5% during the third quarter. Stifel Financial Corp now owns 1,480 shares of the company’s stock worth $428,000 after purchasing an additional 199 shares during the period. Finally, State Street Corp increased its stake in shares of Boston Beer by 7.8% in the third quarter. State Street Corp now owns 292,643 shares of the company’s stock worth $84,615,000 after purchasing an additional 21,276 shares in the last quarter. Institutional investors own 81.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. StockNews.com cut shares of Boston Beer from a “buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Piper Sandler cut their price target on Boston Beer from $275.00 to $240.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th. Morgan Stanley reduced their price target on Boston Beer from $290.00 to $270.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 26th. Berenberg Bank initiated coverage on Boston Beer in a research note on Wednesday, April 2nd. They issued a “hold” rating and a $281.10 target price for the company. Finally, UBS Group decreased their price target on Boston Beer from $315.00 to $290.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Boston Beer presently has a consensus rating of “Hold” and an average price target of $291.37.

Boston Beer Price Performance

SAM stock opened at $245.70 on Monday. The firm has a 50 day simple moving average of $237.08 and a two-hundred day simple moving average of $273.24. The stock has a market cap of $2.76 billion, a PE ratio of 36.13, a P/E/G ratio of 1.23 and a beta of 1.26. The Boston Beer Company, Inc. has a one year low of $215.10 and a one year high of $339.77.

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.