Canada Pension Plan Investment Board Trims Holdings in The Boston Beer Company, Inc. (NYSE:SAM)

Canada Pension Plan Investment Board lowered its position in The Boston Beer Company, Inc. (NYSE:SAM) by 12.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 58,500 shares of the company’s stock after selling 8,300 shares during the period. Canada Pension Plan Investment Board owned approximately 0.51% of Boston Beer worth $17,549,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. GAMMA Investing LLC boosted its holdings in shares of Boston Beer by 59.3% in the 4th quarter. GAMMA Investing LLC now owns 129 shares of the company’s stock valued at $39,000 after acquiring an additional 48 shares during the last quarter. First Horizon Advisors Inc. boosted its stake in shares of Boston Beer by 42.1% in the fourth quarter. First Horizon Advisors Inc. now owns 172 shares of the company’s stock worth $52,000 after buying an additional 51 shares during the last quarter. Exchange Traded Concepts LLC grew 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 acquiring an additional 65 shares during the period. Bank of Montreal Can raised its position in Boston Beer by 7.3% during the fourth quarter. Bank of Montreal Can now owns 1,001 shares of the company’s stock valued at $300,000 after acquiring an additional 68 shares in the last quarter. Finally, Blue Trust Inc. lifted its holdings in Boston Beer by 405.6% in the fourth quarter. Blue Trust Inc. now owns 91 shares of the company’s stock valued at $26,000 after acquiring an additional 73 shares during the period. Institutional investors and hedge funds own 81.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SAM. Piper Sandler cut their target price on shares of Boston Beer from $240.00 to $230.00 and set a “neutral” rating for the company in a report on Thursday. Roth Mkm reaffirmed a “buy” rating and issued a $349.00 price objective (down previously from $389.00) on shares of Boston Beer in a report on Wednesday, February 26th. StockNews.com cut Boston Beer from a “buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Citigroup upped their price target on Boston Beer from $280.00 to $285.00 and gave the stock a “buy” rating in a report on Monday, April 14th. Finally, UBS Group raised their price objective on Boston Beer from $265.00 to $279.00 and gave the company a “neutral” rating in a report on Thursday. Ten analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Boston Beer presently has an average rating of “Hold” and a consensus price target of $293.91.

Boston Beer Stock Performance

Shares of SAM stock opened at $238.98 on Monday. The Boston Beer Company, Inc. has a fifty-two week low of $215.10 and a fifty-two week high of $339.77. The stock’s fifty day moving average is $235.44 and its two-hundred day moving average is $269.88. The firm has a market capitalization of $2.69 billion, a P/E ratio of 35.14, a PEG ratio of 1.23 and a beta of 1.26.

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.