Fmr LLC Sells 206,643 Shares of The Boston Beer Company, Inc. (NYSE:SAM)

FMR LLC trimmed its position in The Boston Beer Company, Inc. (NYSE:SAM - Free Report) by 29.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 500,814 shares of the company's stock after selling 206,643 shares during the quarter. FMR LLC owned about 4.36% of Boston Beer worth $144,805,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of SAM. Savant Capital LLC acquired a new position in Boston Beer during the 2nd quarter valued at $982,000. Assenagon Asset Management S.A. increased its holdings in Boston Beer by 190.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 46,659 shares of the company's stock valued at $14,233,000 after buying an additional 30,601 shares during the period. SW Investment Management LLC bought a new stake in Boston Beer in the 2nd quarter valued at $1,525,000. Oppenheimer Asset Management Inc. increased its holdings in Boston Beer by 18.7% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 4,933 shares of the company's stock valued at $1,505,000 after buying an additional 778 shares during the period. Finally, CWM LLC increased its holdings in Boston Beer by 726.0% in the 3rd quarter. CWM LLC now owns 5,146 shares of the company's stock valued at $1,488,000 after buying an additional 4,523 shares during the period. 81.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SAM. Roth Mkm reissued a "buy" rating and issued a $389.00 price target on shares of Boston Beer in a report on Wednesday, October 23rd. Piper Sandler boosted their price target on shares of Boston Beer from $325.00 to $330.00 and gave the company an "overweight" rating in a report on Friday, October 25th. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $318.00 target price on shares of Boston Beer in a report on Friday, October 25th. UBS Group upped their target price on shares of Boston Beer from $300.00 to $309.00 in a report on Thursday, October 24th. Finally, Jefferies Financial Group lowered shares of Boston Beer from a "buy" rating to a "hold" rating and lowered their target price for the stock from $355.00 to $325.00 in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $314.82.

Boston Beer Stock Performance

NYSE SAM traded up $1.66 during trading hours on Wednesday, reaching $314.68. 77,296 shares of the company's stock were exchanged, compared to its average volume of 154,338. The company's 50-day moving average is $297.83 and its two-hundred day moving average is $287.22. The Boston Beer Company, Inc. has a one year low of $254.40 and a one year high of $371.65. The company has a market capitalization of $3.61 billion, a price-to-earnings ratio of 46.03, a price-to-earnings-growth ratio of 1.21 and a beta of 1.07.

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.