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

Howe & Rusling Inc. lessened its holdings in The Boston Beer Company, Inc. (NYSE:SAM) by 8.7% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor 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 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Covestor Ltd boosted its holdings in Boston Beer by 36.6% in the third quarter. Covestor Ltd now owns 127 shares of the company’s stock valued at $37,000 after purchasing an additional 34 shares in the last quarter. Los Angeles Capital Management LLC lifted its stake in Boston Beer by 0.5% in the second quarter. Los Angeles Capital Management LLC now owns 14,729 shares of the company’s stock valued at $4,493,000 after buying an additional 74 shares during the last quarter. QV Investors Inc. boosted its holdings in shares of Boston Beer by 0.4% in the third quarter. QV Investors Inc. now owns 20,650 shares of the company’s stock valued at $5,971,000 after acquiring an additional 80 shares during the period. DekaBank Deutsche Girozentrale grew its position 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 acquiring an additional 95 shares during the last quarter. Finally, LRI Investments LLC purchased a new position in Boston Beer during the 1st quarter worth $28,000. Hedge funds and other institutional investors own 81.13% of the company’s stock.

Boston Beer Stock Down 0.8 %

NYSE:SAM opened at $309.16 on Thursday. The firm’s fifty day simple moving average is $290.59 and its 200-day simple moving average is $285.15. The stock 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 Boston Beer Company, Inc. has a fifty-two week low of $254.40 and a fifty-two week high of $371.65.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on SAM shares. Jefferies Financial Group cut shares of Boston Beer from a “buy” rating to a “hold” rating and reduced their target price for the company from $355.00 to $325.00 in a report on Friday, October 25th. Deutsche Bank Aktiengesellschaft lowered their target price on Boston Beer from $281.00 to $277.00 and set a “hold” rating on the stock in a research note on Thursday, October 24th. Roth Mkm restated a “buy” rating and set a $389.00 price target on shares of Boston Beer in a research note on Wednesday, October 23rd. UBS Group lifted their price objective on shares of Boston Beer from $300.00 to $309.00 in a research report on Thursday, October 24th. Finally, Piper Sandler boosted 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. 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $314.82.

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.