Carolyn L. O’boyle Sells 62 Shares of The Boston Beer Company, Inc. (NYSE:SAM) Stock

The Boston Beer Company, Inc. (NYSE:SAM) insider Carolyn L. O’boyle sold 62 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $301.76, for a total transaction of $18,709.12. Following the transaction, the insider now owns 6,655 shares of the company’s stock, valued at $2,008,212.80. The trade was a 0.92 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Boston Beer Price Performance

Shares of SAM opened at $289.72 on Friday. The firm has a market capitalization of $3.33 billion, a PE ratio of 42.61, a PEG ratio of 1.21 and a beta of 1.07. The company’s 50-day moving average is $308.00 and its 200-day moving average is $291.15. The Boston Beer Company, Inc. has a fifty-two week low of $254.40 and a fifty-two week high of $371.65.

Hedge Funds Weigh In On Boston Beer

Large investors have recently modified their holdings of the stock. First Horizon Advisors Inc. increased its position in Boston Beer by 105.1% during the third quarter. First Horizon Advisors Inc. now owns 121 shares of the company’s stock worth $35,000 after acquiring an additional 62 shares during the period. Covestor Ltd increased its position in Boston Beer by 36.6% during the third quarter. Covestor Ltd now owns 127 shares of the company’s stock worth $37,000 after acquiring an additional 34 shares during the period. GAMMA Investing LLC increased its position in Boston Beer by 59.3% during the fourth quarter. GAMMA Investing LLC now owns 129 shares of the company’s stock worth $39,000 after acquiring an additional 48 shares during the period. True Wealth Design LLC bought a new position in Boston Beer during the third quarter worth about $47,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Boston Beer during the third quarter worth about $49,000. 81.13% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SAM. Needham & Company LLC began coverage on shares of Boston Beer in a research report on Friday, December 6th. They set a “hold” rating on the stock. Jefferies Financial Group lowered shares of Boston Beer from a “buy” rating to a “hold” rating and dropped their price target for the stock from $355.00 to $325.00 in a research report on Friday, October 25th. Piper Sandler upped their price target on shares of Boston Beer from $325.00 to $330.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Roth Mkm reaffirmed a “buy” rating and set a $389.00 price target on shares of Boston Beer in a research report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of 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 investment analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company. According to MarketBeat, Boston Beer currently has an average rating of “Hold” and a consensus price target of $314.82.

Boston Beer Company 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.