6,037 Shares in The Boston Beer Company, Inc. (NYSE:SAM) Bought by Point72 Hong Kong Ltd

Point72 Hong Kong Ltd purchased a new stake in The Boston Beer Company, Inc. (NYSE:SAM) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 6,037 shares of the company’s stock, valued at approximately $1,746,000. Point72 Hong Kong Ltd owned approximately 0.05% of Boston Beer at the end of the most recent quarter.

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

Boston Beer Price Performance

Shares of NYSE:SAM opened at $316.24 on Monday. The Boston Beer Company, Inc. has a 1 year low of $254.40 and a 1 year high of $371.65. The company has a market capitalization of $3.63 billion, a PE ratio of 46.51, a price-to-earnings-growth ratio of 1.22 and a beta of 1.06. The business has a fifty day moving average price of $296.29 and a two-hundred day moving average price of $286.72.

Analyst Upgrades and Downgrades

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