Assenagon Asset Management S.A. Lowers Holdings in The Boston Beer Company, Inc. (NYSE:SAM)

Assenagon Asset Management S.A. lowered its position in shares of The Boston Beer Company, Inc. (NYSE:SAM) by 19.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 30,073 shares of the company’s stock after selling 7,298 shares during the quarter. Assenagon Asset Management S.A. owned about 0.26% of Boston Beer worth $9,021,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of SAM. Wealth Enhancement Advisory Services LLC boosted its holdings in Boston Beer by 1.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 5,788 shares of the company’s stock worth $1,674,000 after acquiring an additional 74 shares during the period. GAMMA Investing LLC raised its position in shares of Boston Beer by 59.3% in the 4th quarter. GAMMA Investing LLC now owns 129 shares of the company’s stock valued at $39,000 after purchasing an additional 48 shares in the last quarter. Versant Capital Management Inc raised its position in shares of Boston Beer by 37.5% during the 4th quarter. Versant Capital Management Inc now owns 348 shares of the company’s stock valued at $104,000 after acquiring an additional 95 shares in the last quarter. Franklin Resources Inc. raised its position in shares of Boston Beer by 10.1% during the 3rd quarter. Franklin Resources Inc. now owns 15,389 shares of the company’s stock valued at $4,239,000 after acquiring an additional 1,406 shares in the last quarter. Finally, Tidal Investments LLC acquired a new stake in Boston Beer in the third quarter worth $299,000. Hedge funds and other institutional investors own 81.13% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on SAM shares. UBS Group decreased their price target on Boston Beer from $315.00 to $290.00 and set a “neutral” rating for the company in a research note on Thursday. Deutsche Bank Aktiengesellschaft decreased their target price on Boston Beer from $281.00 to $277.00 and set a “hold” rating for the company in a research note on Thursday, October 24th. Citigroup decreased their price target on Boston Beer from $335.00 to $290.00 and set a “neutral” rating for the company in a research report on Wednesday. Jefferies Financial Group lowered Boston Beer from a “buy” rating to a “hold” rating and decreased their price target for the company from $355.00 to $325.00 in a research report on Friday, October 25th. Finally, StockNews.com downgraded Boston Beer from a “buy” rating to a “hold” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Boston Beer currently has a consensus rating of “Hold” and an average target price of $308.40.

Boston Beer Trading Down 0.3 %

NYSE:SAM opened at $251.90 on Friday. The Boston Beer Company, Inc. has a 1 year low of $249.21 and a 1 year high of $371.65. The stock has a market cap of $2.89 billion, a price-to-earnings ratio of 37.04, a PEG ratio of 0.81 and a beta of 1.08. The stock has a 50-day moving average price of $301.14 and a two-hundred day moving average price of $288.76.

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.