The Boston Beer Company, Inc. (NYSE:SAM) Shares Sold by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board trimmed its holdings in shares of The Boston Beer Company, Inc. (NYSE:SAM - Free Report) by 52.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,178 shares of the company's stock after selling 6,869 shares during the period. Ontario Teachers Pension Plan Board owned about 0.05% of Boston Beer worth $1,786,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. LRI Investments LLC acquired a new stake in shares of Boston Beer in the 1st quarter worth approximately $28,000. Natixis purchased a new position in Boston Beer during the first quarter worth $3,044,000. Gamco Investors INC. ET AL increased its position in Boston Beer by 16.9% during the first quarter. Gamco Investors INC. ET AL now owns 13,333 shares of the company's stock worth $4,059,000 after buying an additional 1,925 shares in the last quarter. Savant Capital LLC purchased a new position in Boston Beer during the second quarter worth $982,000. Finally, Epoch Investment Partners Inc. increased its position in Boston Beer by 219.9% during the first quarter. Epoch Investment Partners Inc. now owns 13,431 shares of the company's stock worth $4,089,000 after buying an additional 9,233 shares in the last quarter. Institutional investors and hedge funds own 81.13% of the company's stock.

Analyst Ratings Changes

Several equities analysts have weighed in on SAM shares. Royal Bank of Canada reissued a "sector perform" rating and set a $318.00 price target on shares of Boston Beer in a research report on Friday, October 25th. Deutsche Bank Aktiengesellschaft lowered their price target on Boston Beer from $281.00 to $277.00 and set a "hold" rating for the company in a research report on Thursday, October 24th. UBS Group boosted their price objective on Boston Beer from $300.00 to $309.00 in a research note on Thursday, October 24th. Piper Sandler boosted their price objective on Boston Beer from $325.00 to $330.00 and gave the stock an "overweight" rating in a research note on Friday, October 25th. Finally, Jefferies Financial Group cut Boston Beer from a "buy" rating to a "hold" rating and cut their price target for the stock from $355.00 to $325.00 in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $314.82.

Boston Beer Price Performance

SAM stock traded down $2.64 on Wednesday, reaching $309.16. The company's stock had a trading volume of 108,939 shares, compared to its average volume of 156,866. The Boston Beer Company, Inc. has a 52 week low of $254.40 and a 52 week high of $371.65. The company has a market capitalization of $3.55 billion, a P/E ratio of 45.66, a price-to-earnings-growth ratio of 1.22 and a beta of 1.06. The firm has a fifty day moving average of $289.73 and a two-hundred day moving average of $284.98.

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.