Geode Capital Management LLC Sells 3,812 Shares of The Boston Beer Company, Inc. (NYSE:SAM)
Geode Capital Management LLC reduced its stake in The Boston Beer Company, Inc. (NYSE:SAM) by 2.6%, selling 3,812 shares in the fourth quarter, leaving it with 144,577 shares valued at approximately $43.38 million. Other institutional investors also adjusted their holdings. The stock opened at $243.56, with a market cap of $2.74 billion. Analysts have mixed ratings, with Citigroup raising its price target to $285, while others downgraded their ratings. The consensus rating is "Hold" with an average target price of $296.01.
Geode Capital Management LLC trimmed its stake in shares of The Boston Beer Company, Inc. (NYSE:SAM - Free Report) by 2.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 144,577 shares of the company's stock after selling 3,812 shares during the quarter. Geode Capital Management LLC owned about 1.26% of Boston Beer worth $43,383,000 at the end of the most recent reporting period.
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Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Norges Bank bought a new stake in shares of Boston Beer during the 4th quarter worth about $30,741,000. Global Alpha Capital Management Ltd. acquired a new position in shares of Boston Beer in the fourth quarter valued at approximately $23,349,000. Fisher Asset Management LLC increased its stake in shares of Boston Beer by 27.1% during the fourth quarter. Fisher Asset Management LLC now owns 160,419 shares of the company's stock worth $48,122,000 after purchasing an additional 34,176 shares during the period. Wealthfront Advisers LLC bought a new stake in Boston Beer in the 4th quarter valued at $6,528,000. Finally, WINTON GROUP Ltd acquired a new position in Boston Beer in the 4th quarter valued at $6,471,000. 81.13% of the stock is currently owned by institutional investors and hedge funds.
Boston Beer Trading Down 0.8 %
SAM stock opened at $243.56 on Tuesday. The stock has a market capitalization of $2.74 billion, a P/E ratio of 35.82, a price-to-earnings-growth ratio of 1.23 and a beta of 1.26. The firm has a 50-day moving average price of $235.23 and a 200-day moving average price of $271.17. The Boston Beer Company, Inc. has a 12 month low of $215.10 and a 12 month high of $339.77.
Wall Street Analyst Weigh In
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SAM has been the topic of several research reports. Citigroup upped their price target on shares of Boston Beer from $280.00 to $285.00 and gave the company a "buy" rating in a research note on Monday. StockNews.com downgraded Boston Beer from a "buy" rating to a "hold" rating in a research report on Wednesday, March 5th. Morgan Stanley dropped their price objective on Boston Beer from $290.00 to $270.00 and set an "equal weight" rating for the company in a report on Wednesday, February 26th. Piper Sandler decreased their price target on Boston Beer from $275.00 to $240.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 26th. Finally, Roth Mkm reaffirmed a "buy" rating and set a $349.00 price objective (down previously from $389.00) on shares of Boston Beer in a research report on Wednesday, February 26th. Ten research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $296.01.
Get Our Latest Report on SAM
Boston Beer Profile
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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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Want to see what other hedge funds are holding SAM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Boston Beer Company, Inc. (NYSE:SAM - Free Report).
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