The Boston Beer Company, Inc. (NYSE:SAM) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC lowered its position in The Boston Beer Company, Inc. (NYSE:SAM - Free Report) by 2.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 148,389 shares of the company's stock after selling 3,810 shares during the period. Geode Capital Management LLC owned about 1.29% of Boston Beer worth $42,917,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of SAM. First Horizon Advisors Inc. lifted its position in shares of Boston Beer by 105.1% during the 3rd quarter. First Horizon Advisors Inc. now owns 121 shares of the company's stock valued at $35,000 after buying an additional 62 shares in the last quarter. Covestor Ltd lifted its holdings in Boston Beer by 36.6% during the third quarter. Covestor Ltd now owns 127 shares of the company's stock valued at $37,000 after purchasing an additional 34 shares in the last quarter. True Wealth Design LLC acquired a new stake in shares of Boston Beer in the third quarter valued at about $47,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Boston Beer during the third quarter worth about $49,000. Finally, Sachetta LLC increased its stake in shares of Boston Beer by 1,533.3% during the second quarter. Sachetta LLC now owns 245 shares of the company's stock worth $68,000 after purchasing an additional 230 shares in the last quarter. 81.13% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Piper Sandler lifted their price objective on Boston Beer from $325.00 to $330.00 and gave the stock an "overweight" rating in a report on Friday, October 25th. UBS Group lifted their price target on Boston Beer from $300.00 to $309.00 in a research note on Thursday, October 24th. Royal Bank of Canada reiterated a "sector perform" rating and set a $318.00 price target on shares of Boston Beer in a research report on Friday, October 25th. Roth Mkm restated a "buy" rating and issued a $389.00 price objective on shares of Boston Beer in a report on Wednesday, October 23rd. Finally, Needham & Company LLC initiated coverage on shares of Boston Beer in a report on Friday, December 6th. They set a "hold" rating for the company. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, Boston Beer currently has a consensus rating of "Hold" and an average price target of $314.82.

Boston Beer Trading Up 1.7 %

SAM stock traded up $4.99 during trading on Tuesday, reaching $300.33. 62,235 shares of the stock were exchanged, compared to its average volume of 151,435. The firm has a market capitalization of $3.45 billion, a price-to-earnings ratio of 44.17, a P/E/G ratio of 1.21 and a beta of 1.07. The business has a 50 day moving average price of $307.54 and a 200-day moving average price of $290.61. The Boston Beer Company, Inc. has a 1 year low of $254.40 and a 1 year high of $371.65.

Boston Beer 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.