Legato Capital Management LLC Takes $1.97 Million Position in The Boston Beer Company, Inc. (NYSE:SAM)

Legato Capital Management LLC acquired a new position in The Boston Beer Company, Inc. (NYSE:SAM) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 6,555 shares of the company’s stock, valued at approximately $1,966,000.

Several other large investors also recently added to or reduced their stakes in the company. Merit Financial Group LLC purchased a new stake in shares of Boston Beer during the 4th quarter valued at approximately $434,000. Point72 Hong Kong Ltd bought a new position in Boston Beer in the 3rd quarter worth about $1,746,000. Barclays PLC grew its holdings in Boston Beer by 44.2% during the 3rd quarter. Barclays PLC now owns 12,988 shares of the company’s stock valued at $3,753,000 after buying an additional 3,983 shares in the last quarter. Verition Fund Management LLC increased its position in shares of Boston Beer by 582.6% during the third quarter. Verition Fund Management LLC now owns 19,693 shares of the company’s stock valued at $5,694,000 after buying an additional 16,808 shares during the period. Finally, CWM LLC lifted its holdings in shares of Boston Beer by 726.0% in the third quarter. CWM LLC now owns 5,146 shares of the company’s stock worth $1,488,000 after buying an additional 4,523 shares in the last quarter. Hedge funds and other institutional investors own 81.13% of the company’s stock.

Analyst Ratings Changes

SAM has been the subject of several recent analyst reports. UBS Group reduced their price objective on shares of Boston Beer from $315.00 to $290.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Needham & Company LLC started coverage on shares of Boston Beer in a research report on Friday, December 6th. They set a “hold” rating for the company. Piper Sandler cut shares of Boston Beer from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $370.00 to $275.00 in a report on Thursday, January 23rd. StockNews.com lowered Boston Beer from a “buy” rating to a “hold” rating in a research note on Wednesday, January 15th. Finally, Jefferies Financial Group lowered Boston Beer from a “buy” rating to a “hold” rating and decreased their target price for the stock from $355.00 to $325.00 in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $302.90.

Boston Beer Stock Down 0.8 %

Shares of SAM stock opened at $233.14 on Wednesday. The business has a 50-day moving average price of $278.11 and a two-hundred day moving average price of $284.19. The Boston Beer Company, Inc. has a 12-month low of $231.01 and a 12-month high of $371.65. The firm has a market cap of $2.68 billion, a P/E ratio of 34.29, a price-to-earnings-growth ratio of 0.78 and a beta of 1.06.

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.