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

JPMorgan Chase & Co. lowered its stake in The Boston Beer Company, Inc. (NYSE:SAM - Free Report) by 38.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 22,987 shares of the company's stock after selling 14,309 shares during the period. JPMorgan Chase & Co. owned approximately 0.20% of Boston Beer worth $6,896,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of SAM. GAMMA Investing LLC grew its stake in shares of Boston Beer by 59.3% in the fourth quarter. GAMMA Investing LLC now owns 129 shares of the company's stock valued at $39,000 after acquiring an additional 48 shares in the last quarter. First Horizon Advisors Inc. grew its position in shares of Boston Beer by 42.1% during the 4th quarter. First Horizon Advisors Inc. now owns 172 shares of the company's stock worth $52,000 after purchasing an additional 51 shares in the last quarter. Exchange Traded Concepts LLC grew its position in shares of Boston Beer by 2.5% during the 4th quarter. Exchange Traded Concepts LLC now owns 2,630 shares of the company's stock worth $789,000 after purchasing an additional 65 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of Boston Beer by 405.6% during the fourth quarter. Blue Trust Inc. now owns 91 shares of the company's stock worth $26,000 after purchasing an additional 73 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of Boston Beer by 1.3% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 5,788 shares of the company's stock valued at $1,674,000 after buying an additional 74 shares in the last quarter. 81.13% of the stock is owned by institutional investors.

Boston Beer Trading Up 0.2 %

Shares of SAM stock traded up $0.56 during trading hours on Friday, hitting $238.98. 147,457 shares of the company's stock were exchanged, compared to its average volume of 171,903. The Boston Beer Company, Inc. has a 12-month low of $215.10 and a 12-month high of $339.77. The company has a market capitalization of $2.69 billion, a PE ratio of 35.14, a PEG ratio of 1.23 and a beta of 1.26. The business's 50 day simple moving average is $235.44 and its 200-day simple moving average is $269.96.

Analyst Upgrades and Downgrades

SAM has been the topic of several recent analyst reports. UBS Group raised their target price on shares of Boston Beer from $265.00 to $279.00 and gave the company a "neutral" rating in a report on Thursday. Morgan Stanley cut their target price on Boston Beer from $290.00 to $270.00 and set an "equal weight" rating for the company in a research note on Wednesday, February 26th. Piper Sandler decreased their price target on Boston Beer from $240.00 to $230.00 and set a "neutral" rating on the stock in a research note on Thursday. Roth Mkm restated a "buy" rating and set a $349.00 price objective (down from $389.00) on shares of Boston Beer in a research report on Wednesday, February 26th. Finally, Citigroup lifted their target price on Boston Beer from $280.00 to $285.00 and gave the company a "buy" rating in a research report on Monday, April 14th. Ten equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Boston Beer presently has an average rating of "Hold" and an average price target of $293.91.

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.