The Boston Beer Company, Inc. (NYSE:SAM) Insider Sells $18,149.88 in Stock

The Boston Beer Company, Inc. (NYSE:SAM) insider Carolyn L. O’boyle sold 62 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $292.74, for a total value of $18,149.88. Following the sale, the insider now owns 6,779 shares of the company’s stock, valued at $1,984,484.46. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Boston Beer Price Performance

NYSE SAM opened at $296.65 on Tuesday. The business has a 50 day moving average price of $281.50 and a 200 day moving average price of $282.72. The company has a market capitalization of $3.41 billion, a P/E ratio of 43.63, a PEG ratio of 1.12 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.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its position in shares of Boston Beer by 17.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 182,972 shares of the company’s stock worth $55,814,000 after buying an additional 26,538 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Boston Beer by 8.1% in the second quarter. Bank of New York Mellon Corp now owns 133,486 shares of the company’s stock valued at $40,720,000 after purchasing an additional 9,997 shares during the last quarter. D. E. Shaw & Co. Inc. increased its stake in shares of Boston Beer by 80.0% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 114,736 shares of the company’s stock worth $35,000,000 after purchasing an additional 51,003 shares in the last quarter. Armistice Capital LLC raised its position in shares of Boston Beer by 1.1% during the 2nd quarter. Armistice Capital LLC now owns 97,292 shares of the company’s stock worth $29,679,000 after purchasing an additional 1,093 shares during the last quarter. Finally, Mesirow Institutional Investment Management Inc. acquired a new position in shares of Boston Beer during the 2nd quarter worth approximately $16,014,000. Hedge funds and other institutional investors own 81.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on SAM. UBS Group upped their price objective on shares of Boston Beer from $300.00 to $309.00 in a research report on Thursday, October 24th. Piper Sandler increased their price target on shares of Boston Beer from $325.00 to $330.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $318.00 price objective on shares of Boston Beer in a report on Friday, October 25th. Jefferies Financial Group cut Boston Beer from a “buy” rating to a “hold” rating and dropped their target price for the stock from $355.00 to $325.00 in a research report on Friday, October 25th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on Boston Beer from $281.00 to $277.00 and set a “hold” rating for the company in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Boston Beer presently has a consensus rating of “Hold” and a consensus price target of $314.82.

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.