The Boston Beer Company, Inc. (NYSE:SAM) Shares Sold by Allworth Financial LP

Allworth Financial LP reduced its position in The Boston Beer Company, Inc. (NYSE:SAM) by 11.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 436 shares of the company’s stock after selling 56 shares during the quarter. Allworth Financial LP’s holdings in Boston Beer were worth $126,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of SAM. Van ECK Associates Corp lifted its holdings in shares of Boston Beer by 58.0% during the first quarter. Van ECK Associates Corp now owns 12,901 shares of the company’s stock worth $3,927,000 after purchasing an additional 4,735 shares during the period. Capstone Investment Advisors LLC acquired a new stake in shares of Boston Beer during the first quarter worth $1,191,000. CNB Bank lifted its holdings in shares of Boston Beer by 24.7% during the first quarter. CNB Bank now owns 889 shares of the company’s stock worth $271,000 after purchasing an additional 176 shares during the period. Financial Counselors Inc. lifted its holdings in shares of Boston Beer by 13.2% during the first quarter. Financial Counselors Inc. now owns 6,551 shares of the company’s stock worth $1,994,000 after purchasing an additional 766 shares during the period. Finally, Texas Permanent School Fund Corp lifted its holdings in shares of Boston Beer by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 8,237 shares of the company’s stock worth $2,508,000 after purchasing an additional 107 shares during the period. 81.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SAM has been the subject of several recent research 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 reiterated a “sector perform” rating and issued a $318.00 price objective on shares of Boston Beer in a research report on Friday, October 25th. Piper Sandler increased their price objective on Boston Beer from $325.00 to $330.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. UBS Group increased their price objective on Boston Beer from $300.00 to $309.00 in a research report on Thursday, October 24th. Finally, Roth Mkm reiterated a “buy” rating and issued a $389.00 price objective on shares of Boston Beer in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $314.82.

Boston Beer Stock Down 2.8 %

Shares of SAM stock opened at $291.12 on Friday. The Boston Beer Company, Inc. has a fifty-two week low of $254.40 and a fifty-two week high of $371.65. The stock has a market cap of $3.41 billion, a P/E ratio of 42.81, a P/E/G ratio of 1.24 and a beta of 1.06. The business has a fifty day simple moving average of $280.91 and a 200-day simple moving average of $282.49.

Boston Beer 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.