The Boston Beer Company, Inc. (NYSE:SAM) Stake Cut by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC decreased its holdings in shares of The Boston Beer Company, Inc. (NYSE:SAM) by 2.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,310 shares of the company’s stock after selling 419 shares during the period. Los Angeles Capital Management LLC owned about 0.12% of Boston Beer worth $4,138,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of SAM. Texas Permanent School Fund Corp raised its stake in 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 acquiring an additional 107 shares during the period. Quantbot Technologies LP raised its position in shares of Boston Beer by 52.6% during the 1st quarter. Quantbot Technologies LP now owns 1,900 shares of the company’s stock worth $578,000 after purchasing an additional 655 shares during the period. SG Americas Securities LLC lifted its holdings in shares of Boston Beer by 128.4% in the 1st quarter. SG Americas Securities LLC now owns 2,768 shares of the company’s stock worth $843,000 after purchasing an additional 1,556 shares during the last quarter. Headlands Technologies LLC acquired a new position in Boston Beer during the 1st quarter valued at approximately $114,000. Finally, Qsemble Capital Management LP bought a new position in Boston Beer during the 1st quarter worth $329,000. 81.13% of the stock is owned by institutional investors and hedge funds.

Boston Beer Stock Performance

SAM opened at $318.04 on Wednesday. The stock’s fifty day moving average is $285.85 and its 200-day moving average is $283.65. The company has a market capitalization of $3.65 billion, a PE ratio of 46.77, a P/E/G ratio of 1.18 and a beta of 1.06. The Boston Beer Company, Inc. has a one year low of $254.40 and a one year high of $371.65.

Wall Street Analysts Forecast Growth

SAM has been the subject of several analyst reports. Jefferies Financial Group downgraded shares of Boston Beer from a “buy” rating to a “hold” rating and reduced their price target for the company from $355.00 to $325.00 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. UBS Group boosted their price objective on Boston Beer from $300.00 to $309.00 in a research report on Thursday, October 24th. Piper Sandler increased their price objective on Boston Beer from $325.00 to $330.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $389.00 target price on shares of Boston Beer in a research note on Wednesday, October 23rd. One investment 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, the stock presently 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.