The Boston Beer Company, Inc. (NYSE:SAM) Shares Sold by US Bancorp DE

US Bancorp DE lowered its stake in The Boston Beer Company, Inc. (NYSE:SAM) by 23.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 162 shares of the company’s stock after selling 50 shares during the period. US Bancorp DE’s holdings in Boston Beer were worth $47,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. LRI Investments LLC acquired a new stake in Boston Beer in the first quarter valued at approximately $28,000. ORG Partners LLC acquired a new stake in shares of Boston Beer in the 2nd quarter valued at $48,000. Sachetta LLC lifted its position in shares of Boston Beer by 1,533.3% during the 2nd quarter. Sachetta LLC now owns 245 shares of the company’s stock worth $68,000 after purchasing an additional 230 shares during the last quarter. DekaBank Deutsche Girozentrale grew its stake in shares of Boston Beer by 61.3% during the second quarter. DekaBank Deutsche Girozentrale now owns 250 shares of the company’s stock worth $75,000 after purchasing an additional 95 shares in the last quarter. Finally, Quarry LP increased its holdings in Boston Beer by 984.0% in the second quarter. Quarry LP now owns 271 shares of the company’s stock valued at $83,000 after buying an additional 246 shares during the last quarter. Hedge funds and other institutional investors own 81.13% of the company’s stock.

Boston Beer Stock Performance

NYSE:SAM opened at $318.17 on Monday. The stock has a market capitalization of $3.65 billion, a price-to-earnings ratio of 46.79, a PEG ratio of 1.22 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. The stock has a fifty day moving average price of $288.17 and a two-hundred day moving average price of $284.51.

Wall Street Analysts Forecast Growth

SAM has been the subject of a number of recent analyst reports. Jefferies Financial Group downgraded 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 report on Friday, October 25th. Royal Bank of Canada restated a “sector perform” rating and set a $318.00 price target on shares of Boston Beer in a research note on Friday, October 25th. Piper Sandler boosted their price objective on Boston Beer from $325.00 to $330.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. UBS Group increased their price objective on Boston Beer from $300.00 to $309.00 in a report on Thursday, October 24th. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $389.00 target price on shares of Boston Beer in a report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $314.82.

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.