Summit Investment Advisors Inc. Lowers Stake in The Boston Beer Company, Inc. (NYSE:SAM)

Summit Investment Advisors Inc. decreased its stake in shares of The Boston Beer Company, Inc. (NYSE:SAM) by 4.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,723 shares of the company’s stock after selling 86 shares during the quarter. Summit Investment Advisors Inc.’s holdings in Boston Beer were worth $517,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Fisher Asset Management LLC boosted its holdings in shares of Boston Beer by 27.1% in the fourth quarter. Fisher Asset Management LLC now owns 160,419 shares of the company’s stock valued at $48,122,000 after purchasing an additional 34,176 shares during the period. Norges Bank purchased a new stake in Boston Beer in the fourth quarter worth about $30,741,000. Charles Schwab Investment Management Inc. grew its holdings in Boston Beer by 5.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 94,356 shares of the company’s stock worth $28,305,000 after acquiring an additional 4,675 shares in the last quarter. Cooper Creek Partners Management LLC bought a new stake in shares of Boston Beer in the 4th quarter valued at about $25,054,000. Finally, Global Alpha Capital Management Ltd. bought a new position in shares of Boston Beer during the fourth quarter valued at approximately $23,349,000. 81.13% of the stock is owned by hedge funds and other institutional investors.

Boston Beer Stock Up 0.2 %

Shares of NYSE SAM opened at $238.98 on Friday. The Boston Beer Company, Inc. has a 52 week low of $215.10 and a 52 week high of $339.77. The firm has a market cap of $2.69 billion, a P/E ratio of 35.14, a P/E/G ratio of 1.23 and a beta of 1.26. The business’s 50 day moving average price is $235.44 and its 200 day moving average price is $270.07.

Wall Street Analyst Weigh In

Several analysts have issued reports on SAM shares. Morgan Stanley dropped their target price on Boston Beer from $290.00 to $270.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 26th. StockNews.com cut shares of Boston Beer from a “buy” rating to a “hold” rating in a report on Wednesday, March 5th. Roth Mkm reiterated a “buy” rating and set a $349.00 price objective (down previously from $389.00) on shares of Boston Beer in a research note on Wednesday, February 26th. Citigroup upped their price target on Boston Beer from $280.00 to $285.00 and gave the stock a “buy” rating in a research report on Monday, April 14th. Finally, Berenberg Bank started coverage on Boston Beer in a research report on Wednesday, April 2nd. They issued a “hold” rating and a $281.10 price objective for the company. Ten equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $293.91.

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.