Insider Selling: The Boston Beer Company, Inc. (NYSE:SAM) Insider Sells 62 Shares of Stock

The Boston Beer Company, Inc. (NYSE:SAM - Get Free Report) insider Carolyn L. O'boyle sold 62 shares of the firm's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $301.76, for a total value of $18,709.12. Following the transaction, the insider now owns 6,655 shares of the company's stock, valued at approximately $2,008,212.80. The trade was a 0.92 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Boston Beer Stock Performance

Boston Beer stock traded down $11.54 during midday trading on Friday, hitting $289.72. 221,796 shares of the company's stock were exchanged, compared to its average volume of 148,198. The Boston Beer Company, Inc. has a 12 month low of $254.40 and a 12 month high of $371.65. The company has a market cap of $3.33 billion, a PE ratio of 42.61, a P/E/G ratio of 1.21 and a beta of 1.07. The firm has a 50-day moving average of $308.00 and a two-hundred day moving average of $291.18.

Hedge Funds Weigh In On Boston Beer

Several institutional investors have recently bought and sold shares of the business. Point72 Hong Kong Ltd bought a new stake in Boston Beer during the 3rd quarter valued at $1,746,000. Savant Capital LLC purchased a new position in Boston Beer in the second quarter valued at about $982,000. Barclays PLC raised its holdings in Boston Beer by 44.2% in the third quarter. Barclays PLC now owns 12,988 shares of the company's stock worth $3,753,000 after purchasing an additional 3,983 shares in the last quarter. SW Investment Management LLC purchased a new stake in shares of Boston Beer during the second quarter valued at about $1,525,000. Finally, Verition Fund Management LLC boosted its holdings in shares of Boston Beer by 582.6% in the 3rd quarter. Verition Fund Management LLC now owns 19,693 shares of the company's stock valued at $5,694,000 after buying an additional 16,808 shares in the last quarter. 81.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SAM has been the topic of several recent research reports. Needham & Company LLC began coverage on Boston Beer in a report on Friday, December 6th. They set a "hold" rating on the stock. Roth Mkm reiterated a "buy" rating and set a $389.00 price objective on shares of Boston Beer in a research report on Wednesday, October 23rd. Royal Bank of Canada restated a "sector perform" rating and issued a $318.00 target price on shares of Boston Beer in a report on Friday, October 25th. Piper Sandler increased their price target on shares of Boston Beer from $325.00 to $330.00 and gave the company an "overweight" rating in a report on Friday, October 25th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Boston Beer from $281.00 to $277.00 and set a "hold" rating on the stock in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $314.82.

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.