Invesco Ltd. Sells 10,666 Shares of The Boston Beer Company, Inc. (NYSE:SAM)

Invesco Ltd. reduced its position in shares of The Boston Beer Company, Inc. (NYSE:SAM - Free Report) by 9.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 99,018 shares of the company's stock after selling 10,666 shares during the period. Invesco Ltd. owned 0.86% of Boston Beer worth $29,703,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bank of Montreal Can lifted its position in shares of Boston Beer by 7.3% during the 4th quarter. Bank of Montreal Can now owns 1,001 shares of the company's stock worth $300,000 after buying an additional 68 shares in the last quarter. Polymer Capital Management US LLC bought a new stake in Boston Beer during the fourth quarter worth $214,000. Cerity Partners LLC boosted its position in Boston Beer by 21.7% in the fourth quarter. Cerity Partners LLC now owns 11,574 shares of the company's stock worth $3,467,000 after purchasing an additional 2,062 shares during the last quarter. Savoir Faire Capital Management L.P. purchased a new position in Boston Beer in the fourth quarter worth $4,208,000. Finally, Thoroughbred Financial Services LLC bought a new position in Boston Beer in the 4th quarter valued at $204,000. 81.13% of the stock is currently owned by hedge funds and other institutional investors.

Boston Beer Price Performance

NYSE:SAM traded up $5.84 during mid-day trading on Wednesday, hitting $248.03. 16,425 shares of the company's stock were exchanged, compared to its average volume of 209,459. The company has a market cap of $2.79 billion, a PE ratio of 36.48, a P/E/G ratio of 1.23 and a beta of 1.26. The Boston Beer Company, Inc. has a one year low of $215.10 and a one year high of $339.77. The business has a fifty day moving average price of $235.83 and a 200 day moving average price of $269.39.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Roth Mkm reaffirmed a "buy" rating and issued a $349.00 price objective (down previously from $389.00) on shares of Boston Beer in a research report on Wednesday, February 26th. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $279.00 price target on shares of Boston Beer in a report on Tuesday. StockNews.com lowered Boston Beer from a "buy" rating to a "hold" rating in a report on Wednesday, March 5th. UBS Group boosted their target price on Boston Beer from $265.00 to $279.00 and gave the company a "neutral" rating in a research note on Thursday, April 17th. Finally, Berenberg Bank initiated coverage on Boston Beer in a research note on Wednesday, April 2nd. They set a "hold" rating and a $281.10 price target for the company. Ten investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Boston Beer currently has an average rating of "Hold" and an average target price of $290.01.

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.