Sequoia Financial Advisors LLC Makes New $489,000 Investment in The Boston Beer Company, Inc. $SAM

Sequoia Financial Advisors LLC purchased a new stake in The Boston Beer Company, Inc. (NYSE:SAM) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 2,313 shares of the company’s stock, valued at approximately $489,000.

A number of other institutional investors also recently modified their holdings of the business. California State Teachers Retirement System boosted its holdings in Boston Beer by 0.7% in the 2nd quarter. California State Teachers Retirement System now owns 8,414 shares of the company’s stock worth $1,605,000 after buying an additional 57 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of Boston Beer by 2.8% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 2,115 shares of the company’s stock worth $404,000 after acquiring an additional 58 shares in the last quarter. Great Valley Advisor Group Inc. boosted its holdings in shares of Boston Beer by 5.3% in the second quarter. Great Valley Advisor Group Inc. now owns 1,192 shares of the company’s stock worth $227,000 after acquiring an additional 60 shares during the period. GAMMA Investing LLC grew its position in shares of Boston Beer by 81.7% in the third quarter. GAMMA Investing LLC now owns 189 shares of the company’s stock valued at $40,000 after purchasing an additional 85 shares in the last quarter. Finally, 1620 Investment Advisors Inc. raised its stake in shares of Boston Beer by 10.1% during the 3rd quarter. 1620 Investment Advisors Inc. now owns 1,004 shares of the company’s stock valued at $212,000 after purchasing an additional 92 shares during the period. 81.13% of the stock is currently owned by hedge funds and other institutional investors.

Boston Beer Price Performance

Shares of SAM opened at $218.41 on Tuesday. The Boston Beer Company, Inc. has a 1-year low of $185.34 and a 1-year high of $260.00. The company has a market capitalization of $2.33 billion, a P/E ratio of 25.76, a P/E/G ratio of 1.60 and a beta of 1.04. The firm’s 50 day simple moving average is $201.42 and its 200 day simple moving average is $209.93.

Insider Buying and Selling at Boston Beer

In other news, Director Michael Spillane sold 3,120 shares of Boston Beer stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $205.78, for a total transaction of $642,033.60. Following the completion of the sale, the director directly owned 10,877 shares of the company’s stock, valued at approximately $2,238,269.06. The trade was a 22.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 26.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on SAM shares. Citigroup reduced their target price on Boston Beer from $250.00 to $220.00 and set a “neutral” rating for the company in a report on Wednesday, December 17th. Jefferies Financial Group reduced their price objective on shares of Boston Beer from $230.00 to $225.00 and set a “hold” rating for the company in a research note on Tuesday, September 30th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Boston Beer in a report on Thursday. Piper Sandler cut their price target on shares of Boston Beer from $230.00 to $220.00 and set a “neutral” rating for the company in a report on Friday, November 21st. Finally, UBS Group reduced their price target on shares of Boston Beer from $246.00 to $234.00 and set a “neutral” rating for the company in a research report on Wednesday, January 14th. One research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average target price of $247.28.

Boston Beer Company Profile

The Boston Beer Company, Inc (NYSE: SAM) is a leading craft brewer headquartered in Boston, Massachusetts. Since its founding in 1984 by Jim Koch, the company has focused on producing high-quality, distinctive beers and beverages for retail, on-premise, and distribution partners across the United States. Its operations include brewing, packaging, marketing and distribution, supported by a network of wholly owned brewing facilities and strategic partnerships with regional breweries.

Boston Beer’s flagship brand, Samuel Adams Boston Lager, helped establish the modern U.S.