Bank of New York Mellon Corp Has $35.72 Million Position in The Boston Beer Company, Inc. (NYSE:SAM)

Bank of New York Mellon Corp reduced its stake in The Boston Beer Company, Inc. (NYSE:SAM) by 2.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 119,067 shares of the company’s stock after selling 3,148 shares during the period. Bank of New York Mellon Corp owned 1.04% of Boston Beer worth $35,718,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of SAM. Entropy Technologies LP bought a new stake in Boston Beer during the fourth quarter worth about $368,000. Legato Capital Management LLC bought a new stake in Boston Beer during the fourth quarter worth about $1,966,000. Merit Financial Group LLC bought a new stake in Boston Beer during the fourth quarter worth about $434,000. Point72 Hong Kong Ltd bought a new stake in Boston Beer during the third quarter worth about $1,746,000. Finally, Barclays PLC lifted its position in Boston Beer by 44.2% during the third quarter. Barclays PLC now owns 12,988 shares of the company’s stock worth $3,753,000 after purchasing an additional 3,983 shares during the period. 81.13% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Piper Sandler reduced their price target on shares of Boston Beer from $275.00 to $240.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 26th. UBS Group reduced their price target on shares of Boston Beer from $315.00 to $290.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Roth Mkm restated a “buy” rating and issued a $349.00 price target (down from $389.00) on shares of Boston Beer in a research note on Wednesday, February 26th. StockNews.com downgraded shares of Boston Beer from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Morgan Stanley cut their target price on shares of Boston Beer from $290.00 to $270.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $293.40.

Boston Beer Stock Performance

NYSE:SAM opened at $239.48 on Friday. The business has a 50 day moving average price of $252.52 and a 200-day moving average price of $279.31. The firm has a market cap of $2.75 billion, a PE ratio of 35.22, a price-to-earnings-growth ratio of 1.23 and a beta of 1.14. The Boston Beer Company, Inc. has a fifty-two week low of $222.27 and a fifty-two week high of $339.77.

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.