Vanguard Group Inc. Sells 31,690 Shares of The Boston Beer Company, Inc. (NYSE:SAM)

Vanguard Group Inc. trimmed its holdings in The Boston Beer Company, Inc. (NYSE:SAM) by 3.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 849,688 shares of the company’s stock after selling 31,690 shares during the period. Vanguard Group Inc. owned approximately 7.40% of Boston Beer worth $254,889,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. BNP Paribas Financial Markets raised its stake in shares of Boston Beer by 104.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,440 shares of the company’s stock valued at $416,000 after purchasing an additional 737 shares during the period. Captrust Financial Advisors raised its position in Boston Beer by 258.8% in the 3rd quarter. Captrust Financial Advisors now owns 2,558 shares of the company’s stock worth $740,000 after purchasing an additional 1,845 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Boston Beer in the third quarter worth about $49,000. Paloma Partners Management Co bought a new position in Boston Beer during the 3rd quarter worth approximately $278,000. Finally, Point72 DIFC Ltd purchased a new position in shares of Boston Beer in the third quarter worth $612,000. Institutional investors own 81.13% of the company’s stock.

Wall Street Analysts Forecast Growth

SAM has been the subject of a number of analyst reports. UBS Group dropped their target price on shares of Boston Beer from $315.00 to $290.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. StockNews.com lowered Boston Beer from a “buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Piper Sandler reduced their target price on Boston Beer from $275.00 to $240.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 26th. Morgan Stanley dropped their price target on Boston Beer from $290.00 to $270.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 26th. Finally, Citigroup raised shares of Boston Beer from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $265.00 to $280.00 in a research report on Thursday, March 20th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $291.37.

Boston Beer Price Performance

Shares of NYSE SAM opened at $245.70 on Friday. The Boston Beer Company, Inc. has a 1 year low of $215.10 and a 1 year high of $339.77. The firm has a 50-day moving average of $237.08 and a 200 day moving average of $273.27. The stock has a market cap of $2.76 billion, a P/E ratio of 36.13, a price-to-earnings-growth ratio of 1.23 and a beta of 1.14.

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.