Holocene Advisors LP Grows Stake in The Boston Beer Company, Inc. (NYSE:SAM)

Holocene Advisors LP grew its position in The Boston Beer Company, Inc. (NYSE:SAM) by 130.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,431 shares of the company’s stock after purchasing an additional 9,882 shares during the quarter. Holocene Advisors LP owned about 0.15% of Boston Beer worth $5,040,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of SAM. First Horizon Advisors Inc. grew its holdings in Boston Beer by 105.1% in the third quarter. First Horizon Advisors Inc. now owns 121 shares of the company’s stock worth $35,000 after purchasing an additional 62 shares during the last quarter. Covestor Ltd lifted its stake in shares of Boston Beer by 36.6% during the third quarter. Covestor Ltd now owns 127 shares of the company’s stock worth $37,000 after buying an additional 34 shares during the period. True Wealth Design LLC acquired a new stake in shares of Boston Beer during the third quarter worth $47,000. ORG Partners LLC acquired a new stake in shares of Boston Beer during the second quarter worth $48,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Boston Beer during the third quarter worth $49,000. 81.13% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on SAM. Jefferies Financial Group downgraded shares of Boston Beer from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $355.00 to $325.00 in a research note on Friday, October 25th. Piper Sandler lifted their price objective on shares of Boston Beer from $325.00 to $330.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Royal Bank of Canada reiterated a “sector perform” rating and set a $318.00 price objective on shares of Boston Beer in a research note on Friday, October 25th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Boston Beer from $281.00 to $277.00 and set a “hold” rating for the company in a research note on Thursday, October 24th. Finally, UBS Group boosted their target price on shares of Boston Beer from $300.00 to $309.00 in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $314.82.

Boston Beer Stock Performance

Shares of Boston Beer stock opened at $314.68 on Thursday. The firm has a 50-day simple moving average of $297.83 and a two-hundred day simple moving average of $287.22. The company has a market cap of $3.61 billion, a P/E ratio of 46.28, a price-to-earnings-growth ratio of 1.21 and a beta of 1.07. The Boston Beer Company, Inc. has a fifty-two week low of $254.40 and a fifty-two week high of $371.65.

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.