Amalgamated Bank Has $1.19 Million Holdings in The Boston Beer Company, Inc. (NYSE:SAM)

Amalgamated Bank cut its holdings in shares of The Boston Beer Company, Inc. (NYSE:SAM) by 25.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,109 shares of the company’s stock after selling 1,381 shares during the quarter. Amalgamated Bank’s holdings in Boston Beer were worth $1,188,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. LRI Investments LLC bought a new position in Boston Beer during the 1st quarter worth $28,000. ORG Partners LLC acquired a new stake in shares of Boston Beer during the 2nd quarter worth $48,000. Sachetta LLC increased its position in shares of Boston Beer by 1,533.3% in the second quarter. Sachetta LLC now owns 245 shares of the company’s stock worth $68,000 after purchasing an additional 230 shares during the period. DekaBank Deutsche Girozentrale raised its stake in Boston Beer by 61.3% in the second quarter. DekaBank Deutsche Girozentrale now owns 250 shares of the company’s stock valued at $75,000 after purchasing an additional 95 shares in the last quarter. Finally, Quarry LP lifted its position in Boston Beer by 984.0% during the second quarter. Quarry LP now owns 271 shares of the company’s stock worth $83,000 after purchasing an additional 246 shares during the period. 81.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have commented on SAM. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Boston Beer from $281.00 to $277.00 and set a “hold” rating on the stock in a report on Thursday, October 24th. Piper Sandler lifted their price objective 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. Royal Bank of Canada restated a “sector perform” rating and set a $318.00 target price on shares of Boston Beer in a research note on Friday, October 25th. 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. Finally, Jefferies Financial Group cut Boston Beer from a “buy” rating to a “hold” rating and lowered their price target for the stock from $355.00 to $325.00 in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $314.82.

Boston Beer Stock Up 2.1 %

Shares of SAM opened at $324.10 on Thursday. The business has a 50-day simple moving average of $286.72 and a two-hundred day simple moving average of $283.93. The Boston Beer Company, Inc. has a 12-month low of $254.40 and a 12-month high of $371.65. The stock has a market cap of $3.72 billion, a PE ratio of 47.66, a PEG ratio of 1.22 and a beta of 1.06.

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.