Loomis Sayles & Co. L P Lowers Holdings in The Boston Beer Company, Inc. (NYSE:SAM)

Loomis Sayles & Co. L P trimmed its stake in shares of The Boston Beer Company, Inc. (NYSE:SAM - Free Report) by 10.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 72,833 shares of the company's stock after selling 8,653 shares during the period. Loomis Sayles & Co. L P owned approximately 0.63% of Boston Beer worth $21,059,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Redwood Investment Management LLC bought a new position in Boston Beer in the first quarter valued at about $1,502,000. Jane Street Group LLC boosted its holdings in shares of Boston Beer by 171.8% in the first quarter. Jane Street Group LLC now owns 15,876 shares of the company's stock worth $4,833,000 after buying an additional 37,985 shares during the last quarter. Tidal Investments LLC grew its position in Boston Beer by 100.6% during the first quarter. Tidal Investments LLC now owns 1,868 shares of the company's stock valued at $569,000 after buying an additional 937 shares during the period. Comerica Bank grew its position in Boston Beer by 51.0% during the first quarter. Comerica Bank now owns 4,193 shares of the company's stock valued at $1,276,000 after buying an additional 1,416 shares during the period. Finally, iA Global Asset Management Inc. increased its holdings in Boston Beer by 0.8% during the first quarter. iA Global Asset Management Inc. now owns 19,265 shares of the company's stock valued at $5,865,000 after buying an additional 161 shares during the last quarter. Institutional investors own 81.13% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SAM. UBS Group upped their price target on Boston Beer from $300.00 to $309.00 in a research report on Thursday, October 24th. Royal Bank of Canada reissued a "sector perform" rating and issued a $318.00 target price on shares of Boston Beer in a report on Friday, October 25th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Boston Beer from $281.00 to $277.00 and set a "hold" rating on the stock in a report on Thursday, October 24th. Jefferies Financial Group cut shares of Boston Beer from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $355.00 to $325.00 in a research note on Friday, October 25th. Finally, Piper Sandler raised their price objective on shares of Boston Beer from $325.00 to $330.00 and gave the company an "overweight" rating in a research report on Friday, October 25th. One research 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 data from MarketBeat, Boston Beer currently has an average rating of "Hold" and an average price target of $314.82.

Boston Beer Price Performance

Shares of Boston Beer stock traded up $1.37 on Wednesday, reaching $313.68. The company had a trading volume of 68,813 shares, compared to its average volume of 155,687. The firm's 50-day moving average price is $293.82 and its two-hundred day moving average price is $286.10. The Boston Beer Company, Inc. has a 1 year low of $254.40 and a 1 year high of $371.65. The firm has a market cap of $3.60 billion, a price-to-earnings ratio of 46.37, a P/E/G ratio of 1.21 and a beta of 1.06.

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.