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

Kornitzer Capital Management Inc. KS cut its holdings in shares of The Boston Beer Company, Inc. (NYSE:SAM) by 58.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. 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 SEC filing.

A number of other institutional investors have also made changes to their positions in the business. State Street Corp increased its holdings in shares of Boston Beer by 7.8% during the 3rd 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 increased its holdings in shares of Boston Beer by 647.7% during the 3rd quarter. Quantinno Capital Management LP now owns 21,064 shares of the company’s stock worth $6,090,000 after acquiring an additional 18,247 shares during the last quarter. Verition Fund Management LLC increased its holdings in shares of Boston Beer by 582.6% during the 3rd quarter. Verition Fund Management LLC now owns 19,693 shares of the company’s stock worth $5,694,000 after acquiring an additional 16,808 shares during the last quarter. Holocene Advisors LP increased its holdings in shares of Boston Beer by 130.9% during the 3rd quarter. Holocene Advisors LP now owns 17,431 shares of the company’s stock worth $5,040,000 after acquiring an additional 9,882 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new position in shares of Boston Beer during the 3rd quarter worth approximately $45,150,000. 81.13% of the stock is owned by institutional investors and hedge funds.

Boston Beer Trading Down 0.5 %

Boston Beer stock opened at $225.77 on Thursday. The company has a market capitalization of $2.59 billion, a PE ratio of 33.20, a P/E/G ratio of 1.27 and a beta of 1.06. The Boston Beer Company, Inc. has a 12 month low of $223.07 and a 12 month 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.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. 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 report on Friday, October 25th. Roth Mkm reaffirmed a “buy” rating and issued a $389.00 price objective on shares of Boston Beer in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft decreased their price objective on Boston Beer from $281.00 to $277.00 and set a “hold” rating on the stock in a report on Thursday, October 24th. Needham & Company LLC initiated coverage on Boston Beer in a report on Friday, December 6th. They issued a “hold” rating on the stock. Finally, UBS Group decreased their price objective on Boston Beer from $315.00 to $290.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. One analyst has rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target 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.