Thrivent Financial for Lutherans Cuts Position in The Boston Beer Company, Inc. (NYSE:SAM)

Thrivent Financial for Lutherans lessened its position in shares of The Boston Beer Company, Inc. (NYSE:SAM) by 6.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,072 shares of the company’s stock after selling 137 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Boston Beer were worth $599,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Covestor Ltd grew its holdings in Boston Beer by 36.6% during the 3rd quarter. Covestor Ltd now owns 127 shares of the company’s stock valued at $37,000 after buying an additional 34 shares in the last quarter. ORG Partners LLC purchased a new position in Boston Beer during the 2nd quarter valued at approximately $48,000. Sachetta LLC boosted its holdings in shares of Boston Beer by 1,533.3% in the 2nd quarter. Sachetta LLC now owns 245 shares of the company’s stock worth $68,000 after purchasing an additional 230 shares during the period. DekaBank Deutsche Girozentrale boosted its holdings in shares of Boston Beer by 61.3% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 250 shares of the company’s stock worth $75,000 after purchasing an additional 95 shares during the period. Finally, Quarry LP boosted its holdings in shares of Boston Beer by 984.0% in the 2nd quarter. Quarry LP now owns 271 shares of the company’s stock worth $83,000 after purchasing an additional 246 shares during the period. Hedge funds and other institutional investors own 81.13% of the company’s stock.

Boston Beer Stock Up 0.5 %

Shares of NYSE SAM opened at $314.68 on Thursday. The business has a fifty day simple moving average of $297.83 and a two-hundred day simple moving average of $287.22. The firm has a market cap of $3.61 billion, a PE ratio of 46.03, a price-to-earnings-growth ratio of 1.21 and a beta of 1.07. The Boston Beer Company, Inc. has a twelve month low of $254.40 and a twelve month high of $371.65.

Wall Street Analysts Forecast Growth

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

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.