Crawford Fund Management LLC Sells 2,579 Shares of The Boston Beer Company, Inc. (NYSE:SAM)

Crawford Fund Management LLC lowered its stake in The Boston Beer Company, Inc. (NYSE:SAM - Free Report) by 11.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 19,936 shares of the company's stock after selling 2,579 shares during the quarter. Boston Beer accounts for 1.2% of Crawford Fund Management LLC's portfolio, making the stock its 12th biggest position. Crawford Fund Management LLC owned 0.17% of Boston Beer worth $5,764,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its position in Boston Beer by 17.0% in the second quarter. Dimensional Fund Advisors LP now owns 182,972 shares of the company's stock valued at $55,814,000 after purchasing an additional 26,538 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Boston Beer by 8.1% during 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 buying an additional 9,997 shares during the period. D. E. Shaw & Co. Inc. increased its stake in shares of Boston Beer by 80.0% during the second quarter. D. E. Shaw & Co. Inc. now owns 114,736 shares of the company's stock valued at $35,000,000 after buying an additional 51,003 shares during the period. Armistice Capital LLC increased its stake in shares of Boston Beer by 1.1% during the second quarter. Armistice Capital LLC now owns 97,292 shares of the company's stock valued at $29,679,000 after buying an additional 1,093 shares during the period. Finally, Mesirow Institutional Investment Management Inc. purchased a new position in shares of Boston Beer during the second quarter valued at approximately $16,014,000. Institutional investors own 81.13% of the company's stock.

Boston Beer Stock Performance

Shares of NYSE:SAM traded up $2.56 during midday trading on Friday, reaching $316.24. 46,458 shares of the company's stock traded hands, compared to its average volume of 155,214. The company has a market cap of $3.63 billion, a price-to-earnings ratio of 46.13, a P/E/G ratio of 1.21 and a beta of 1.06. The Boston Beer Company, Inc. has a one year low of $254.40 and a one year high of $371.65. The stock has a 50 day moving average of $295.36 and a 200 day moving average of $286.49.

Analyst Ratings Changes

SAM has been the topic of several research analyst reports. UBS Group boosted their target price on Boston Beer from $300.00 to $309.00 in a research note on Thursday, October 24th. Royal Bank of Canada reissued a "sector perform" rating and set a $318.00 target price on shares of Boston Beer in a research note on Friday, October 25th. Jefferies Financial Group cut Boston Beer from a "buy" rating to a "hold" rating and reduced their target price for the company from $355.00 to $325.00 in a research note on Friday, October 25th. Piper Sandler upped their price target on Boston Beer from $325.00 to $330.00 and gave the stock an "overweight" rating in a research note 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 on the stock in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Boston Beer presently has an average rating of "Hold" and an average 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.