First Horizon Advisors Inc. Grows Holdings in The Boston Beer Company, Inc. (NYSE:SAM)

First Horizon Advisors Inc. grew its holdings in shares of The Boston Beer Company, Inc. (NYSE:SAM) by 42.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 172 shares of the company’s stock after buying an additional 51 shares during the quarter. First Horizon Advisors Inc.’s holdings in Boston Beer were worth $52,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in SAM. Blue Trust Inc. boosted its stake in shares of Boston Beer by 405.6% during the 4th quarter. Blue Trust Inc. now owns 91 shares of the company’s stock valued at $26,000 after buying an additional 73 shares during the last quarter. Covestor Ltd boosted its stake in shares of Boston Beer by 36.6% during the 3rd quarter. Covestor Ltd now owns 127 shares of the company’s stock valued at $37,000 after buying an additional 34 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Boston Beer by 59.3% during the 4th quarter. GAMMA Investing LLC now owns 129 shares of the company’s stock valued at $39,000 after buying an additional 48 shares during the last quarter. True Wealth Design LLC purchased a new position in shares of Boston Beer during the 3rd quarter valued at approximately $47,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Boston Beer during the 3rd quarter valued at approximately $49,000. 81.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on SAM shares. StockNews.com upgraded Boston Beer from a “hold” rating to a “buy” rating in a research note on Tuesday. Citigroup dropped their price target on Boston Beer from $335.00 to $290.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 15th. Needham & Company LLC began coverage on Boston Beer in a research report on Friday, December 6th. They set a “hold” rating on the stock. Piper Sandler dropped 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. Finally, UBS Group dropped their price target on Boston Beer from $315.00 to $290.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, Boston Beer presently has an average rating of “Hold” and a consensus price target of $293.40.

Boston Beer Price Performance

Shares of NYSE SAM opened at $243.67 on Friday. The Boston Beer Company, Inc. has a 1-year low of $222.27 and a 1-year high of $339.77. The business’s fifty day moving average price is $258.51 and its two-hundred day moving average price is $280.52. The firm has a market capitalization of $2.80 billion, a PE ratio of 35.83, a P/E/G ratio of 1.23 and a beta of 1.06.

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.