JPMorgan Chase & Co. Reduces Stock Position in The Boston Beer Company, Inc. (NYSE:SAM)

JPMorgan Chase & Co. cut its stake in The Boston Beer Company, Inc. (NYSE:SAM - Free Report) by 26.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 37,296 shares of the company's stock after selling 13,613 shares during the period. JPMorgan Chase & Co. owned about 0.32% of Boston Beer worth $10,784,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SAM. Texas Permanent School Fund Corp grew its position in Boston Beer by 18.7% in the second quarter. Texas Permanent School Fund Corp now owns 9,776 shares of the company's stock worth $2,982,000 after acquiring an additional 1,539 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its position in Boston Beer by 61.3% during the second quarter. DekaBank Deutsche Girozentrale now owns 250 shares of the company's stock valued at $75,000 after buying an additional 95 shares during the period. Thoroughbred Financial Services LLC purchased a new stake in Boston Beer during the second quarter valued at about $228,000. Oppenheimer Asset Management Inc. boosted its position in Boston Beer by 18.7% during the second 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, Dimensional Fund Advisors LP boosted its position in Boston Beer by 17.0% during the second quarter. Dimensional Fund Advisors LP now owns 182,972 shares of the company's stock valued at $55,814,000 after buying an additional 26,538 shares during the period. 81.13% of the stock is currently owned by hedge funds and other institutional investors.

Boston Beer Stock Performance

Shares of NYSE:SAM traded up $6.00 during trading on Monday, reaching $262.05. 200,128 shares of the stock traded hands, compared to its average volume of 210,018. The stock has a 50-day moving average of $305.07 and a two-hundred day moving average of $290.00. The Boston Beer Company, Inc. has a 52-week low of $253.13 and a 52-week high of $371.65. The stock has a market cap of $3.01 billion, a P/E ratio of 38.54, a price-to-earnings-growth ratio of 1.21 and a beta of 1.08.

Analysts Set New Price Targets

SAM has been the subject of several recent analyst reports. Piper Sandler upped their price objective on shares of Boston Beer from $325.00 to $330.00 and gave the company an "overweight" rating in a research note on Friday, October 25th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Boston Beer from $281.00 to $277.00 and set a "hold" rating for the company in a research note on Thursday, October 24th. StockNews.com raised shares of Boston Beer from a "hold" rating to a "buy" rating in a research note on Tuesday, January 7th. UBS Group upped their price objective on shares of Boston Beer from $300.00 to $309.00 in a research note on Thursday, October 24th. Finally, Needham & Company LLC assumed coverage on shares of Boston Beer in a research note on Friday, December 6th. They issued a "hold" rating for the company. One analyst has rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price 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.