Trexquant Investment LP Lowers Position in The Boston Beer Company, Inc. (NYSE:SAM)

Trexquant Investment LP reduced its position in shares of The Boston Beer Company, Inc. (NYSE:SAM) by 49.4% in the 4th quarter, HoldingsChannel reports. The firm owned 18,736 shares of the company’s stock after selling 18,280 shares during the period. Trexquant Investment LP’s holdings in Boston Beer were worth $5,620,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in SAM. Blue Trust Inc. raised its stake in shares of Boston Beer by 405.6% during the 4th quarter. Blue Trust Inc. now owns 91 shares of the company’s stock worth $26,000 after buying an additional 73 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in Boston Beer by 2,225.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 93 shares of the company’s stock worth $28,000 after acquiring an additional 89 shares during the period. GAMMA Investing LLC raised its position in Boston Beer by 59.3% in the fourth quarter. GAMMA Investing LLC now owns 129 shares of the company’s stock worth $39,000 after acquiring an additional 48 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Boston Beer in the third quarter valued at $49,000. Finally, First Horizon Advisors Inc. boosted its position in shares of Boston Beer by 42.1% during the 4th quarter. First Horizon Advisors Inc. now owns 172 shares of the company’s stock worth $52,000 after purchasing an additional 51 shares in the last quarter. Institutional investors and hedge funds own 81.13% of the company’s stock.

Wall Street Analysts Forecast Growth

SAM has been the subject of a number of research analyst reports. Berenberg Bank started coverage on shares of Boston Beer in a report on Wednesday. They issued a “hold” rating and a $281.10 price target for the company. Piper Sandler dropped their target price on shares of Boston Beer from $275.00 to $240.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th. StockNews.com lowered Boston Beer from a “buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Citigroup raised Boston Beer from a “neutral” rating to a “buy” rating and raised their price objective for the company from $265.00 to $280.00 in a research note on Thursday, March 20th. Finally, UBS Group decreased their target price 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 research analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Boston Beer has a consensus rating of “Hold” and an average price target of $291.37.

Boston Beer Stock Up 1.0 %

Shares of NYSE:SAM opened at $245.70 on Friday. The company has a market capitalization of $2.76 billion, a P/E ratio of 36.13, a P/E/G ratio of 1.23 and a beta of 1.14. The Boston Beer Company, Inc. has a 52-week low of $215.10 and a 52-week high of $339.77. The stock’s fifty day simple moving average is $237.08 and its 200-day simple moving average is $273.27.

About Boston Beer

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.