The Boston Beer Company, Inc. (NYSE:SAM) Stock Position Trimmed by Invesco Ltd.

Invesco Ltd. decreased its position in The Boston Beer Company, Inc. (NYSE:SAM) by 9.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 99,018 shares of the company’s stock after selling 10,666 shares during the period. Invesco Ltd.’s holdings in Boston Beer were worth $29,703,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. Entropy Technologies LP bought a new position in Boston Beer in the 4th quarter worth approximately $368,000. Legato Capital Management LLC acquired a new position in Boston Beer during the 4th quarter worth $1,966,000. Merit Financial Group LLC acquired a new position in Boston Beer during the 4th quarter worth $434,000. Charles Schwab Investment Management Inc. grew its stake in shares of Boston Beer by 5.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 94,356 shares of the company’s stock worth $28,305,000 after purchasing an additional 4,675 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Boston Beer during the fourth quarter valued at $30,741,000. Institutional investors and hedge funds own 81.13% of the company’s stock.

Boston Beer Stock Up 0.2 %

Shares of NYSE SAM opened at $238.98 on Friday. The stock’s fifty day simple moving average is $235.32 and its 200 day simple moving average is $270.41. The stock has a market capitalization of $2.69 billion, a price-to-earnings ratio of 35.14, a PEG ratio of 1.23 and a beta of 1.26. The Boston Beer Company, Inc. has a 52-week low of $215.10 and a 52-week high of $339.77.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SAM. Citigroup increased their target price on shares of Boston Beer from $280.00 to $285.00 and gave the company a “buy” rating in a research report on Monday. Berenberg Bank started coverage on shares of Boston Beer in a report on Wednesday, April 2nd. They issued a “hold” rating and a $281.10 price objective for the company. Piper Sandler dropped their target price on Boston Beer from $240.00 to $230.00 and set a “neutral” rating on the stock in a report on Thursday. Roth Mkm reaffirmed a “buy” rating and set a $349.00 price target (down from $389.00) on shares of Boston Beer in a research note on Wednesday, February 26th. Finally, StockNews.com downgraded Boston Beer from a “buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Ten equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $293.91.

About Boston Beer

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.