The Boston Beer Company, Inc. (NYSE:SAM) Insider Carolyn L. O’boyle Sells 62 Shares

The Boston Beer Company, Inc. (NYSE:SAM) insider Carolyn L. O’boyle sold 62 shares of Boston Beer stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $316.24, for a total value of $19,606.88. Following the completion of the transaction, the insider now directly owns 6,717 shares of the company’s stock, valued at approximately $2,124,184.08. This represents a 0.91 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Boston Beer Stock Down 0.6 %

NYSE SAM opened at $313.02 on Wednesday. The company has a 50-day moving average price of $297.10 and a 200-day moving average price of $286.99. The Boston Beer Company, Inc. has a 52 week low of $254.40 and a 52 week high of $371.65. The firm has a market capitalization of $3.59 billion, a P/E ratio of 46.03, a PEG ratio of 1.21 and a beta of 1.07.

Institutional Trading of Boston Beer

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. State Street Corp grew its position 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 valued at $84,615,000 after acquiring an additional 21,276 shares during the period. Dimensional Fund Advisors LP lifted its position in Boston Beer by 17.0% during the second quarter. Dimensional Fund Advisors LP now owns 182,972 shares of the company’s stock valued at $55,814,000 after purchasing an additional 26,538 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Boston Beer by 8.1% during the second quarter. Bank of New York Mellon Corp now owns 133,486 shares of the company’s stock valued at $40,720,000 after purchasing an additional 9,997 shares during the period. D. E. Shaw & Co. Inc. increased its position in Boston Beer by 80.0% in the second quarter. D. E. Shaw & Co. Inc. now owns 114,736 shares of the company’s stock worth $35,000,000 after buying an additional 51,003 shares in the last quarter. Finally, Armistice Capital LLC raised its stake in shares of Boston Beer by 1.1% in the second quarter. Armistice Capital LLC now owns 97,292 shares of the company’s stock worth $29,679,000 after buying an additional 1,093 shares during the period. 81.13% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SAM has been the subject of a number of analyst reports. Roth Mkm restated a “buy” rating and set a $389.00 price objective on shares of Boston Beer in a research note on Wednesday, October 23rd. Piper Sandler raised their price target on shares of Boston Beer from $325.00 to $330.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Jefferies Financial Group cut Boston Beer from a “buy” rating to a “hold” rating and lowered their price objective for the company from $355.00 to $325.00 in a research report on Friday, October 25th. Royal Bank of Canada reissued a “sector perform” rating and issued a $318.00 target price on shares of Boston Beer in a report on Friday, October 25th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on Boston Beer from $281.00 to $277.00 and set a “hold” rating on the stock in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Boston Beer has a consensus rating of “Hold” and an average price target 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.