Amalgamated Bank Sells 1,381 Shares of The Boston Beer Company, Inc. (NYSE:SAM)

Amalgamated Bank lessened its holdings in The Boston Beer Company, Inc. (NYSE:SAM) by 25.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,109 shares of the company’s stock after selling 1,381 shares during the quarter. Amalgamated Bank’s holdings in Boston Beer were worth $1,188,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Los Angeles Capital Management LLC lifted its position in Boston Beer by 0.5% during the 2nd quarter. Los Angeles Capital Management LLC now owns 14,729 shares of the company’s stock worth $4,493,000 after buying an additional 74 shares in the last quarter. Gagnon Securities LLC raised its holdings in Boston Beer by 0.5% during the first quarter. Gagnon Securities LLC now owns 16,893 shares of the company’s stock worth $5,143,000 after acquiring an additional 80 shares in the last quarter. QV Investors Inc. raised its holdings in Boston Beer by 0.4% during the third quarter. QV Investors Inc. now owns 20,650 shares of the company’s stock worth $5,971,000 after acquiring an additional 80 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its position in Boston Beer by 61.3% during the second quarter. DekaBank Deutsche Girozentrale now owns 250 shares of the company’s stock valued at $75,000 after purchasing an additional 95 shares during the last quarter. Finally, LRI Investments LLC bought a new position in Boston Beer in the first quarter valued at approximately $28,000. Institutional investors and hedge funds own 81.13% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on SAM. Roth Mkm reissued a “buy” rating and issued a $389.00 price objective on shares of Boston Beer in a report on Wednesday, October 23rd. Piper Sandler increased their price target on shares of Boston Beer from $325.00 to $330.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Jefferies Financial Group lowered shares of Boston Beer from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $355.00 to $325.00 in a research note on Friday, October 25th. UBS Group raised their target price on shares of Boston Beer from $300.00 to $309.00 in a research note on Thursday, October 24th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on Boston Beer from $281.00 to $277.00 and set a “hold” rating on the stock in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $314.82.

Boston Beer Trading Up 2.1 %

NYSE:SAM opened at $324.10 on Thursday. The stock has a 50 day simple moving average of $286.72 and a 200 day simple moving average of $283.93. The stock has a market cap of $3.72 billion, a P/E ratio of 47.66, a PEG ratio of 1.22 and a beta of 1.06. The Boston Beer Company, Inc. has a 1-year low of $254.40 and a 1-year high of $371.65.

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.