The Boston Beer Company, Inc. (NYSE:SAM) Shares Sold by Howe & Rusling Inc.

Howe & Rusling Inc. reduced its position in The Boston Beer Company, Inc. (NYSE:SAM) by 8.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,040 shares of the company’s stock after selling 99 shares during the quarter. Howe & Rusling Inc.’s holdings in Boston Beer were worth $301,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mesirow Institutional Investment Management Inc. acquired a new position in shares of Boston Beer during the 2nd quarter valued at about $16,014,000. D. E. Shaw & Co. Inc. raised its stake in Boston Beer by 80.0% during the second quarter. D. E. Shaw & Co. Inc. now owns 114,736 shares of the company’s stock worth $35,000,000 after purchasing an additional 51,003 shares during the period. Jane Street Group LLC boosted its holdings in Boston Beer by 171.8% in the 1st quarter. Jane Street Group LLC now owns 15,876 shares of the company’s stock valued at $4,833,000 after purchasing an additional 37,985 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Boston Beer by 190.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 46,659 shares of the company’s stock valued at $14,233,000 after buying an additional 30,601 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Boston Beer by 17.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 182,972 shares of the company’s stock worth $55,814,000 after buying an additional 26,538 shares during the last quarter. Hedge funds and other institutional investors own 81.13% of the company’s stock.

Boston Beer Trading Down 0.8 %

NYSE:SAM opened at $309.16 on Thursday. The Boston Beer Company, Inc. has a 12-month low of $254.40 and a 12-month high of $371.65. The firm has a market cap of $3.55 billion, a PE ratio of 45.46, a price-to-earnings-growth ratio of 1.20 and a beta of 1.06. The stock has a fifty day moving average price of $290.59 and a 200 day moving average price of $285.15.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on SAM shares. UBS Group increased their price objective on Boston Beer from $300.00 to $309.00 in a research report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft cut their price objective on Boston Beer from $281.00 to $277.00 and set a “hold” rating for the company in a research report on Thursday, October 24th. 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. Piper Sandler boosted their price target on shares of Boston Beer from $325.00 to $330.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Finally, Jefferies Financial Group cut shares of Boston Beer from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $355.00 to $325.00 in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus 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.