UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 2,450 Shares of The Boston Beer Company, Inc. (NYSE:SAM)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its stake in shares of The Boston Beer Company, Inc. (NYSE:SAM - Free Report) by 12.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,753 shares of the company's stock after selling 2,450 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.15% of Boston Beer worth $4,844,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Covestor Ltd boosted its stake in shares of 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. First Horizon Advisors Inc. raised its holdings in Boston Beer by 105.1% in 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 during the last quarter. Great Valley Advisor Group Inc. boosted its position in Boston Beer by 8.5% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 867 shares of the company's stock worth $251,000 after buying an additional 68 shares during the period. Los Angeles Capital Management LLC grew its holdings in Boston Beer by 0.5% during the 2nd quarter. Los Angeles Capital Management LLC now owns 14,729 shares of the company's stock worth $4,493,000 after acquiring an additional 74 shares during the last quarter. Finally, QV Investors Inc. increased its position in Boston Beer by 0.4% in the 3rd quarter. QV Investors Inc. now owns 20,650 shares of the company's stock valued at $5,971,000 after acquiring an additional 80 shares during the period. 81.13% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Needham & Company LLC initiated coverage on shares of Boston Beer in a report on Friday, December 6th. They set a "hold" rating on the stock. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $318.00 target price on shares of Boston Beer in a report on Friday, October 25th. Piper Sandler increased their price target on Boston Beer from $325.00 to $330.00 and gave the company an "overweight" rating in a research note on Friday, October 25th. Deutsche Bank Aktiengesellschaft cut 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. Finally, Jefferies Financial Group downgraded shares of Boston Beer from a "buy" rating to a "hold" rating and decreased their target price for the company from $355.00 to $325.00 in a research report on Friday, October 25th. 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 stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $314.82.

Boston Beer Price Performance

Shares of NYSE:SAM traded up $4.03 during mid-day trading on Thursday, hitting $319.10. The company had a trading volume of 73,833 shares, compared to its average volume of 152,497. The Boston Beer Company, Inc. has a one year low of $254.40 and a one year high of $371.65. The firm has a fifty day moving average price of $301.93 and a 200 day moving average price of $289.11. The company has a market capitalization of $3.66 billion, a PE ratio of 46.33, a price-to-earnings-growth ratio of 1.21 and a beta of 1.07.

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.