The Boston Beer Company, Inc. (NYSE:SAM) Holdings Decreased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. decreased its holdings in The Boston Beer Company, Inc. (NYSE:SAM - Free Report) by 19.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,371 shares of the company's stock after selling 9,288 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.31% of Boston Beer worth $10,805,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of SAM. Los Angeles Capital Management LLC boosted its holdings in Boston Beer by 0.5% in the second quarter. Los Angeles Capital Management LLC now owns 14,729 shares of the company's stock valued at $4,493,000 after acquiring an additional 74 shares during the last quarter. Gagnon Securities LLC lifted its stake in shares of Boston Beer by 0.5% in the 1st quarter. Gagnon Securities LLC now owns 16,893 shares of the company's stock valued at $5,143,000 after purchasing an additional 80 shares in the last quarter. QV Investors Inc. grew its holdings in shares of Boston Beer by 0.4% during the 3rd quarter. QV Investors Inc. now owns 20,650 shares of the company's stock worth $5,971,000 after purchasing an additional 80 shares during the period. DekaBank Deutsche Girozentrale increased its position in Boston Beer by 61.3% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 250 shares of the company's stock worth $75,000 after purchasing an additional 95 shares in the last quarter. Finally, LRI Investments LLC purchased a new position in Boston Beer in the first quarter valued at approximately $28,000. Institutional investors and hedge funds own 81.13% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on SAM. UBS Group boosted their price objective on shares of Boston Beer from $300.00 to $309.00 in a research note on Thursday. Piper Sandler upped their price target on shares of Boston Beer from $325.00 to $330.00 and gave the stock an "overweight" rating in a research report on Friday. Royal Bank of Canada reissued a "sector perform" rating and issued a $318.00 price objective on shares of Boston Beer in a research report on Friday. Roth Mkm restated a "buy" rating and set a $389.00 price objective on shares of Boston Beer in a research note on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on Boston Beer from $281.00 to $277.00 and set a "hold" rating for the company in a research note on Thursday. One analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Boston Beer presently has a consensus rating of "Hold" and a consensus price target of $314.82.

Boston Beer Trading Up 2.9 %

NYSE SAM traded up $8.56 during mid-day trading on Monday, reaching $304.52. 171,797 shares of the company's stock traded hands, compared to its average volume of 159,915. The company has a fifty day simple moving average of $280.19 and a 200-day simple moving average of $282.27. The Boston Beer Company, Inc. has a 1-year low of $254.40 and a 1-year high of $371.65. The company has a market cap of $3.57 billion, a price-to-earnings ratio of 44.78, a P/E/G ratio of 1.24 and a beta of 1.06.

Boston Beer (NYSE:SAM - Get Free Report) last released its quarterly earnings results on Thursday, July 25th. The company reported $4.39 earnings per share for the quarter, missing analysts' consensus estimates of $4.99 by ($0.60). Boston Beer had a return on equity of 11.76% and a net margin of 3.82%. The company had revenue of $579.10 million for the quarter, compared to analyst estimates of $597.33 million. During the same period in the previous year, the business posted $4.72 EPS. The firm's quarterly revenue was down 4.0% compared to the same quarter last year. Equities research analysts forecast that The Boston Beer Company, Inc. will post 9.58 earnings per share for the current fiscal year.

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.