12,287 Shares in The Boston Beer Company, Inc. (NYSE:SAM) Acquired by Redwood Investment Management LLC

Redwood Investment Management LLC bought a new position in The Boston Beer Company, Inc. (NYSE:SAM - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 12,287 shares of the company's stock, valued at approximately $3,686,000. Redwood Investment Management LLC owned approximately 0.11% of Boston Beer as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its stake in shares of Boston Beer by 59.3% in the 4th 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. Lazard Asset Management LLC raised its holdings in shares of Boston Beer by 10.3% in the fourth quarter. Lazard Asset Management LLC now owns 515 shares of the company's stock valued at $153,000 after purchasing an additional 48 shares during the last quarter. First Horizon Advisors Inc. lifted its position in shares of Boston Beer by 42.1% during the fourth quarter. First Horizon Advisors Inc. now owns 172 shares of the company's stock valued at $52,000 after purchasing an additional 51 shares in the last quarter. Cetera Investment Advisers lifted its position in shares of Boston Beer by 4.6% during the fourth quarter. Cetera Investment Advisers now owns 1,269 shares of the company's stock valued at $381,000 after purchasing an additional 56 shares in the last quarter. Finally, Exchange Traded Concepts LLC boosted its holdings in Boston Beer by 2.5% during the fourth quarter. Exchange Traded Concepts LLC now owns 2,630 shares of the company's stock worth $789,000 after purchasing an additional 65 shares during the last quarter. 81.13% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have commented on SAM. StockNews.com upgraded shares of Boston Beer from a "hold" rating to a "buy" rating in a research note on Friday, April 25th. Cfra Research raised Boston Beer from a "moderate sell" rating to a "moderate buy" rating in a research report on Thursday, April 24th. Morgan Stanley dropped their price target on Boston Beer from $290.00 to $270.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 26th. Berenberg Bank began coverage on Boston Beer in a research note on Wednesday, April 2nd. They issued a "hold" rating and a $281.10 price objective for the company. Finally, Piper Sandler decreased their target price on Boston Beer from $240.00 to $230.00 and set a "neutral" rating for the company in a research report on Thursday, April 17th. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $286.12.

Boston Beer Price Performance

Shares of NYSE SAM opened at $238.86 on Thursday. The stock has a market capitalization of $2.66 billion, a PE ratio of 35.13, a P/E/G ratio of 1.23 and a beta of 1.14. The Boston Beer Company, Inc. has a one year low of $215.10 and a one year high of $339.77. The business's fifty day moving average price is $238.36 and its 200-day moving average price is $264.78.

Boston Beer (NYSE:SAM - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The company reported $2.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.78 by $1.38. The business had revenue of $481.36 million for the quarter, compared to analysts' expectations of $436.27 million. Boston Beer had a return on equity of 11.76% and a net margin of 3.82%. The firm's quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.04 EPS. As a group, equities analysts expect that The Boston Beer Company, Inc. will post 9.29 EPS for the current fiscal year.

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.

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