The Boston Beer Company, Inc. (NYSE:SAM) Position Lessened by Loomis Sayles & Co. L P

Loomis Sayles & Co. L P reduced its stake in shares of The Boston Beer Company, Inc. (NYSE:SAM) by 10.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 72,833 shares of the company’s stock after selling 8,653 shares during the quarter. Loomis Sayles & Co. L P owned about 0.63% of Boston Beer worth $21,059,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. LRI Investments LLC acquired a new stake in shares of Boston Beer in the first quarter valued at approximately $30,000. First Horizon Advisors Inc. grew its holdings in Boston Beer by 105.1% in the 3rd quarter. First Horizon Advisors Inc. now owns 121 shares of the company’s stock worth $35,000 after buying an additional 62 shares in the last quarter. Covestor Ltd increased its position in Boston Beer by 36.6% in the 3rd quarter. Covestor Ltd now owns 127 shares of the company’s stock valued at $37,000 after acquiring an additional 34 shares during the period. ORG Partners LLC bought a new stake in Boston Beer during the 2nd quarter valued at $48,000. Finally, Sachetta LLC raised its stake in Boston Beer by 1,533.3% during the 2nd quarter. Sachetta LLC now owns 245 shares of the company’s stock valued at $68,000 after acquiring an additional 230 shares in the last quarter. 81.13% of the stock is owned by institutional investors and hedge funds.

Boston Beer Stock Down 1.0 %

Shares of NYSE SAM opened at $312.28 on Wednesday. The stock’s fifty day simple moving average is $293.10 and its 200 day simple moving average is $285.95. The stock has a market capitalization of $3.58 billion, a price-to-earnings ratio of 45.92, a PEG ratio of 1.21 and a beta of 1.06. The Boston Beer Company, Inc. has a 52-week low of $254.40 and a 52-week high of $371.65.

Analysts Set New Price Targets

A number of brokerages have recently commented on SAM. Piper Sandler raised their price target on Boston Beer from $325.00 to $330.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Boston Beer from $281.00 to $277.00 and set a “hold” rating for the company in a research report 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 report on Wednesday, October 23rd. UBS Group increased their price objective on shares of Boston Beer from $300.00 to $309.00 in a report on Thursday, October 24th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $318.00 target price on shares of Boston Beer in a report on Friday, October 25th. One equities 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 data from MarketBeat, Boston Beer has a consensus rating of “Hold” and a consensus 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.