The Boston Beer Company, Inc. (NYSE:SAM) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lowered its stake in The Boston Beer Company, Inc. (NYSE:SAM) by 5.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,675 shares of the company’s stock after selling 258 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Boston Beer were worth $1,352,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Dimensional Fund Advisors LP increased its stake in Boston Beer by 17.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 182,972 shares of the company’s stock valued at $55,814,000 after buying an additional 26,538 shares during the period. Bank of New York Mellon Corp raised its holdings in Boston Beer by 8.1% during the second quarter. Bank of New York Mellon Corp now owns 133,486 shares of the company’s stock worth $40,720,000 after purchasing an additional 9,997 shares in the last quarter. D. E. Shaw & Co. Inc. raised its holdings in Boston Beer by 80.0% during the second quarter. D. E. Shaw & Co. Inc. now owns 114,736 shares of the company’s stock worth $35,000,000 after purchasing an additional 51,003 shares in the last quarter. Armistice Capital LLC lifted its position in Boston Beer by 1.1% in the second quarter. Armistice Capital LLC now owns 97,292 shares of the company’s stock valued at $29,679,000 after purchasing an additional 1,093 shares during the period. Finally, Mesirow Institutional Investment Management Inc. purchased a new stake in Boston Beer in the 2nd quarter valued at approximately $16,014,000. Hedge funds and other institutional investors own 81.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on SAM shares. Deutsche Bank Aktiengesellschaft reduced their price target on Boston Beer from $281.00 to $277.00 and set a “hold” rating for the company in a report on Thursday, October 24th. Piper Sandler raised their target price on Boston Beer from $325.00 to $330.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Roth Mkm reaffirmed 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 boosted 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 reaffirmed a “sector perform” rating and issued a $318.00 target price on shares of Boston Beer in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $314.82.

Boston Beer Stock Down 0.8 %

NYSE SAM opened at $318.17 on Monday. The stock has a market cap of $3.65 billion, a price-to-earnings ratio of 46.79, a price-to-earnings-growth ratio of 1.22 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. The business has a fifty day moving average of $288.17 and a 200-day moving average of $284.51.

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.