Pallas Capital Advisors LLC Grows Stake in The Boston Beer Company, Inc. (NYSE:SAM)

Pallas Capital Advisors LLC lifted its stake in The Boston Beer Company, Inc. (NYSE:SAM) by 323.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,261 shares of the company’s stock after purchasing an additional 2,491 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Boston Beer were worth $984,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of SAM. LRI Investments LLC purchased a new position in Boston Beer in the first quarter worth about $28,000. Seven Eight Capital LP increased its position in shares of Boston Beer by 160.0% during the first quarter. Seven Eight Capital LP now owns 4,940 shares of the company’s stock valued at $1,504,000 after acquiring an additional 3,040 shares in the last quarter. Natixis purchased a new position in Boston Beer in the 1st quarter worth approximately $3,044,000. Gamco Investors INC. ET AL lifted its position in Boston Beer by 16.9% in the 1st quarter. Gamco Investors INC. ET AL now owns 13,333 shares of the company’s stock valued at $4,059,000 after acquiring an additional 1,925 shares in the last quarter. Finally, Epoch Investment Partners Inc. boosted its stake in Boston Beer by 219.9% during the 1st quarter. Epoch Investment Partners Inc. now owns 13,431 shares of the company’s stock valued at $4,089,000 after purchasing an additional 9,233 shares during the last quarter. Institutional investors own 81.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on SAM shares. Jefferies Financial Group cut Boston Beer from a “buy” rating to a “hold” rating and decreased their price target for the stock from $355.00 to $325.00 in a research note on Friday, October 25th. Royal Bank of Canada reissued a “sector perform” rating and issued a $318.00 target price on shares of Boston Beer in a research report on Friday, October 25th. Roth Mkm reaffirmed a “buy” rating and set a $389.00 price target on shares of Boston Beer in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Boston Beer from $281.00 to $277.00 and set a “hold” rating for the company in a report on Thursday, October 24th. Finally, Piper Sandler raised their target price on shares of Boston Beer from $325.00 to $330.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $314.82.

Boston Beer Trading Down 1.8 %

SAM opened at $298.78 on Wednesday. The firm’s 50 day simple moving average is $280.57 and its two-hundred day simple moving average is $282.37. The company has a market capitalization of $3.50 billion, a PE ratio of 43.94, a PEG ratio of 1.24 and a beta of 1.06. The Boston Beer Company, Inc. has a 1-year low of $254.40 and a 1-year high of $371.65.

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.