Victory Capital Management Inc. Has $634,000 Holdings in The Boston Beer Company, Inc. (NYSE:SAM)

Victory Capital Management Inc. reduced its stake in The Boston Beer Company, Inc. (NYSE:SAM) by 1.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,192 shares of the company’s stock after selling 38 shares during the period. Victory Capital Management Inc.’s holdings in Boston Beer were worth $634,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Savant Capital LLC bought a new stake in Boston Beer during the 2nd quarter worth approximately $982,000. Assenagon Asset Management S.A. raised its stake in shares of Boston Beer by 190.6% in the second quarter. Assenagon Asset Management S.A. now owns 46,659 shares of the company’s stock valued at $14,233,000 after buying an additional 30,601 shares during the period. SW Investment Management LLC bought a new stake in Boston Beer in the 2nd quarter valued at about $1,525,000. Oppenheimer Asset Management Inc. raised its position in shares of Boston Beer by 18.7% in the second quarter. Oppenheimer Asset Management Inc. now owns 4,933 shares of the company’s stock valued at $1,505,000 after purchasing an additional 778 shares during the period. Finally, CWM LLC lifted its position in shares of Boston Beer by 726.0% during the third quarter. CWM LLC now owns 5,146 shares of the company’s stock worth $1,488,000 after acquiring an additional 4,523 shares in the last quarter. 81.13% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SAM. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Boston Beer from $281.00 to $277.00 and set a “hold” rating on the stock in a report on Thursday, October 24th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $318.00 price target on shares of Boston Beer in a research note on Friday, October 25th. Roth Mkm reaffirmed a “buy” rating and issued a $389.00 price objective on shares of Boston Beer in a research note on Wednesday, October 23rd. UBS Group raised their price target on Boston Beer from $300.00 to $309.00 in a research report on Thursday, October 24th. Finally, Jefferies Financial Group lowered shares of Boston Beer from a “buy” rating to a “hold” rating and cut their price target for the stock from $355.00 to $325.00 in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Boston Beer currently has a consensus rating of “Hold” and an average price target of $314.82.

Boston Beer Trading Up 0.4 %

SAM opened at $313.68 on Friday. The stock has a fifty day simple moving average of $294.59 and a two-hundred day simple moving average of $286.30. The company has a market cap of $3.60 billion, a price-to-earnings ratio of 46.13, a price-to-earnings-growth ratio of 1.21 and a beta of 1.06. The Boston Beer Company, Inc. has a 12-month low of $254.40 and a 12-month high of $371.65.

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.