Fmr LLC Lowers Position in The Boston Beer Company, Inc. (NYSE:SAM)

Fmr LLC trimmed its position in The Boston Beer Company, Inc. (NYSE:SAM) by 29.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 500,814 shares of the company’s stock after selling 206,643 shares during the period. Fmr LLC’s holdings in Boston Beer were worth $144,805,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Savant Capital LLC bought a new position in shares of Boston Beer in the 2nd quarter worth about $982,000. Assenagon Asset Management S.A. increased its stake in shares of Boston Beer by 190.6% during the second quarter. Assenagon Asset Management S.A. now owns 46,659 shares of the company’s stock valued at $14,233,000 after purchasing an additional 30,601 shares in the last quarter. SW Investment Management LLC bought a new position in shares of Boston Beer during the second quarter valued at approximately $1,525,000. Oppenheimer Asset Management Inc. lifted its holdings in shares of Boston Beer by 18.7% during the second quarter. Oppenheimer Asset Management Inc. now owns 4,933 shares of the company’s stock valued at $1,505,000 after purchasing an additional 778 shares during the last quarter. Finally, CWM LLC boosted its position in shares of Boston Beer by 726.0% in the 3rd quarter. CWM LLC now owns 5,146 shares of the company’s stock worth $1,488,000 after purchasing an additional 4,523 shares in the last quarter. Institutional investors own 81.13% of the company’s stock.

Wall Street Analyst Weigh In

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

Boston Beer Trading Down 0.6 %

Shares of SAM stock opened at $313.02 on Wednesday. The Boston Beer Company, Inc. has a 12-month low of $254.40 and a 12-month high of $371.65. The stock has a market capitalization of $3.59 billion, a P/E ratio of 46.03, a P/E/G ratio of 1.21 and a beta of 1.07. The firm’s 50 day moving average is $297.10 and its 200 day moving average is $286.99.

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.