Gilbert & Cook Inc. Lowers Stock Holdings in The Boston Beer Company, Inc. (NYSE:SAM)

Gilbert & Cook Inc. reduced its position in shares of The Boston Beer Company, Inc. (NYSE:SAM) by 3.0% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,076 shares of the company’s stock after selling 33 shares during the period. Gilbert & Cook Inc.’s holdings in Boston Beer were worth $311,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Dimensional Fund Advisors LP boosted its position in shares of Boston Beer by 17.0% during the second quarter. Dimensional Fund Advisors LP now owns 182,972 shares of the company’s stock worth $55,814,000 after buying an additional 26,538 shares during the period. Bank of New York Mellon Corp boosted its holdings in Boston Beer by 8.1% in 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 purchasing an additional 9,997 shares during the period. D. E. Shaw & Co. Inc. boosted its holdings in Boston Beer by 80.0% in the second quarter. D. E. Shaw & Co. Inc. now owns 114,736 shares of the company’s stock valued at $35,000,000 after purchasing an additional 51,003 shares during the period. Armistice Capital LLC boosted its holdings in Boston Beer by 1.1% in the second quarter. Armistice Capital LLC now owns 97,292 shares of the company’s stock valued at $29,679,000 after purchasing an additional 1,093 shares during the period. Finally, Mesirow Institutional Investment Management Inc. purchased a new position in Boston Beer in the second quarter valued at $16,014,000. 81.13% of the stock is currently owned by hedge funds and other institutional investors.

Boston Beer Stock Performance

SAM opened at $318.17 on Monday. The business’s 50-day simple moving average is $288.17 and its 200-day simple moving average is $284.51. The Boston Beer Company, Inc. has a one year low of $254.40 and a one year high of $371.65. The stock has a market capitalization of $3.65 billion, a P/E ratio of 46.79, a price-to-earnings-growth ratio of 1.22 and a beta of 1.06.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on SAM shares. Jefferies Financial Group lowered Boston Beer from a “buy” rating to a “hold” rating and decreased their target price for the company from $355.00 to $325.00 in a report on Friday, October 25th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $318.00 target price on shares of Boston Beer in a report on Friday, October 25th. Deutsche Bank Aktiengesellschaft decreased their target price on Boston Beer from $281.00 to $277.00 and set a “hold” rating for the company in a report on Thursday, October 24th. Piper Sandler lifted their target price on Boston Beer from $325.00 to $330.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $389.00 price target on shares of Boston Beer in a report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price 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.