US Bancorp DE Decreases Stock Position in The Boston Beer Company, Inc. (NYSE:SAM)

US Bancorp DE lessened its stake in shares of The Boston Beer Company, Inc. (NYSE:SAM) by 23.6% during the third quarter, Holdings Channel.com reports. The institutional investor owned 162 shares of the company’s stock after selling 50 shares during the period. US Bancorp DE’s holdings in Boston Beer were worth $47,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in SAM. Los Angeles Capital Management LLC boosted its position in shares of Boston Beer by 0.5% in the second quarter. Los Angeles Capital Management LLC now owns 14,729 shares of the company’s stock worth $4,493,000 after acquiring an additional 74 shares during the last quarter. Gagnon Securities LLC lifted its position in Boston Beer by 0.5% during the 1st quarter. Gagnon Securities LLC now owns 16,893 shares of the company’s stock worth $5,143,000 after acquiring an additional 80 shares in the last quarter. QV Investors Inc. boosted its stake 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 purchasing an additional 80 shares during the period. DekaBank Deutsche Girozentrale boosted its position in Boston Beer by 61.3% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 250 shares of the company’s stock valued at $75,000 after buying an additional 95 shares during the last quarter. Finally, LRI Investments LLC purchased a new position in Boston Beer in the first quarter valued at about $28,000. Institutional investors and hedge funds own 81.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on SAM. Piper Sandler lifted their price target on Boston Beer from $325.00 to $330.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Roth Mkm reiterated a “buy” rating and issued a $389.00 target price on shares of Boston Beer in a research report on Wednesday, October 23rd. UBS Group boosted their price target on Boston Beer from $300.00 to $309.00 in a report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft reduced their price objective 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. 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 company. According to MarketBeat.com, Boston Beer currently has an average rating of “Hold” and an average price target of $314.82.

Boston Beer Stock Down 0.8 %

Shares of NYSE:SAM opened at $318.17 on Monday. The company has a market cap of $3.65 billion, a PE ratio of 46.79, a P/E/G ratio of 1.22 and a beta of 1.06. The company’s 50-day moving average price is $288.17 and its 200 day moving average price is $284.51. The Boston Beer Company, Inc. has a fifty-two week low of $254.40 and a fifty-two week high of $371.65.

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.