Jacobs Levy Equity Management Inc. Trims Stake in The Boston Beer Company, Inc. (NYSE:SAM)

Jacobs Levy Equity Management Inc. reduced its stake in The Boston Beer Company, Inc. (NYSE:SAM) by 2.0% during the third quarter, HoldingsChannel.com reports. The fund owned 52,568 shares of the company’s stock after selling 1,055 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in Boston Beer were worth $15,200,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in SAM. Holocene Advisors LP boosted its stake in shares of Boston Beer by 130.9% during the 3rd quarter. Holocene Advisors LP now owns 17,431 shares of the company’s stock worth $5,040,000 after purchasing an additional 9,882 shares during the period. Paloma Partners Management Co bought a new stake in shares of Boston Beer in the 3rd quarter valued at about $278,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Boston Beer during the 3rd quarter worth approximately $49,000. Point72 Hong Kong Ltd bought a new position in shares of Boston Beer during the 3rd quarter worth approximately $1,746,000. Finally, True Wealth Design LLC bought a new position in shares of Boston Beer during the 3rd quarter worth approximately $47,000. 81.13% of the stock is owned by hedge funds and other institutional investors.

Boston Beer Stock Performance

Shares of NYSE:SAM opened at $314.68 on Thursday. The Boston Beer Company, Inc. has a 1 year low of $254.40 and a 1 year high of $371.65. The stock has a market capitalization of $3.61 billion, a P/E ratio of 46.28, a PEG ratio of 1.21 and a beta of 1.07. The stock has a 50-day simple moving average of $297.83 and a 200-day simple moving average of $287.22.

Analysts Set New Price Targets

Several research firms have recently commented on SAM. Piper Sandler upped their price objective on shares of Boston Beer from $325.00 to $330.00 and gave the company an “overweight” rating 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 research report on Friday, October 25th. Roth Mkm restated a “buy” rating and set a $389.00 price objective on shares of Boston Beer in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft lowered their target price 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, Jefferies Financial Group lowered shares of Boston Beer from a “buy” rating to a “hold” rating and lowered their price objective for the company from $355.00 to $325.00 in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Boston Beer currently has an average rating of “Hold” and a consensus price target of $314.82.

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.