Kornitzer Capital Management Inc. KS Sells 2,336 Shares of The Boston Beer Company, Inc. (NYSE:SAM)

Kornitzer Capital Management Inc. KS trimmed its stake in shares of The Boston Beer Company, Inc. (NYSE:SAM) by 58.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,632 shares of the company’s stock after selling 2,336 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Boston Beer were worth $490,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in SAM. State Street Corp raised its position in shares of Boston Beer by 7.8% during the third quarter. State Street Corp now owns 292,643 shares of the company’s stock worth $84,615,000 after acquiring an additional 21,276 shares during the last quarter. Quantinno Capital Management LP grew its stake in Boston Beer by 647.7% during the third quarter. Quantinno Capital Management LP now owns 21,064 shares of the company’s stock worth $6,090,000 after purchasing an additional 18,247 shares during the period. Verition Fund Management LLC grew its stake in Boston Beer by 582.6% during the third quarter. Verition Fund Management LLC now owns 19,693 shares of the company’s stock worth $5,694,000 after purchasing an additional 16,808 shares during the period. International Assets Investment Management LLC acquired a new stake in Boston Beer during the third quarter worth approximately $45,150,000. Finally, Holocene Advisors LP grew its stake in Boston Beer by 130.9% during the third quarter. Holocene Advisors LP now owns 17,431 shares of the company’s stock worth $5,040,000 after purchasing an additional 9,882 shares during the period. 81.13% of the stock is currently owned by institutional investors.

Boston Beer Stock Performance

Shares of Boston Beer stock opened at $225.77 on Thursday. The Boston Beer Company, Inc. has a 52 week low of $223.07 and a 52 week high of $371.65. The stock has a 50 day moving average price of $267.64 and a two-hundred day moving average price of $282.03. The stock has a market capitalization of $2.59 billion, a PE ratio of 33.20, a price-to-earnings-growth ratio of 1.27 and a beta of 1.06.

Analyst Upgrades and Downgrades

Several research firms recently commented on SAM. Roth Mkm reaffirmed a “buy” rating and set a $389.00 target price on shares of Boston Beer in a research note on Wednesday, October 23rd. StockNews.com cut Boston Beer from a “buy” rating to a “hold” rating in a research note on Wednesday, January 15th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $318.00 target price on shares of Boston Beer in a research note on Friday, October 25th. Needham & Company LLC began coverage on Boston Beer in a research note on Friday, December 6th. They set a “hold” rating for the company. Finally, Jefferies Financial Group cut Boston Beer from a “buy” rating to a “hold” rating and reduced their price objective for the company from $355.00 to $325.00 in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $302.90.

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.