Ontario Teachers Pension Plan Board Has $5.53 Million Holdings in The Boston Beer Company, Inc. $SAM

Ontario Teachers Pension Plan Board decreased its holdings in shares of The Boston Beer Company, Inc. (NYSE:SAM) by 13.0% in the 3rd quarter, Holdings Channel reports. The fund owned 26,141 shares of the company’s stock after selling 3,923 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Boston Beer were worth $5,527,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in SAM. Quent Capital LLC acquired a new stake in shares of Boston Beer in the 3rd quarter valued at approximately $27,000. MassMutual Private Wealth & Trust FSB lifted its stake in Boston Beer by 137.3% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 159 shares of the company’s stock valued at $34,000 after purchasing an additional 92 shares during the last quarter. GAMMA Investing LLC boosted its position in 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 buying an additional 85 shares in the last quarter. TD Waterhouse Canada Inc. grew its stake in shares of Boston Beer by 606.1% during the second quarter. TD Waterhouse Canada Inc. now owns 233 shares of the company’s stock worth $46,000 after buying an additional 200 shares during the last quarter. Finally, Elevation Point Wealth Partners LLC bought a new stake in shares of Boston Beer during the second quarter worth $50,000. Institutional investors own 81.13% of the company’s stock.

Boston Beer Trading Up 0.9%

Shares of SAM stock opened at $233.85 on Thursday. The Boston Beer Company, Inc. has a 1-year low of $185.34 and a 1-year high of $260.00. The stock has a market cap of $2.49 billion, a price-to-earnings ratio of 27.58, a PEG ratio of 1.69 and a beta of 1.03. The stock has a 50-day moving average of $214.28 and a 200-day moving average of $213.61.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on SAM shares. Piper Sandler cut their price objective on Boston Beer from $230.00 to $220.00 and set a “neutral” rating on the stock in a report on Friday, November 21st. Citigroup cut their price target on Boston Beer from $250.00 to $220.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 17th. UBS Group reduced their price target on Boston Beer from $246.00 to $234.00 and set a “neutral” rating on the stock in a report on Wednesday, January 14th. Finally, Weiss Ratings upgraded shares of Boston Beer from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, February 6th. One equities research analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $247.28.

Boston Beer 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.