Southernsun Asset Management LLC Sells 22,554 Shares of The Boston Beer Company, Inc. (NYSE:SAM)

Southernsun Asset Management LLC reduced its holdings in The Boston Beer Company, Inc. (NYSE:SAM - Free Report) by 15.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 120,108 shares of the company's stock after selling 22,554 shares during the period. Boston Beer comprises about 4.1% of Southernsun Asset Management LLC's holdings, making the stock its 12th largest holding. Southernsun Asset Management LLC owned approximately 1.05% of Boston Beer worth $34,728,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Savant Capital LLC acquired a new position in Boston Beer in the 2nd quarter valued at approximately $982,000. Assenagon Asset Management S.A. boosted its position in Boston Beer by 190.6% during the second quarter. Assenagon Asset Management S.A. now owns 46,659 shares of the company's stock valued at $14,233,000 after purchasing an additional 30,601 shares during the last quarter. SW Investment Management LLC purchased a new position in Boston Beer in the second quarter valued at about $1,525,000. Verition Fund Management LLC increased its position in Boston Beer by 582.6% in the 3rd quarter. Verition Fund Management LLC now owns 19,693 shares of the company's stock worth $5,694,000 after purchasing an additional 16,808 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. raised its stake in shares of Boston Beer by 18.7% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 4,933 shares of the company's stock worth $1,505,000 after purchasing an additional 778 shares in the last quarter. 81.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Jefferies Financial Group lowered shares of Boston Beer from a "buy" rating to a "hold" rating and cut their price objective for the company from $355.00 to $325.00 in a research report on Friday, October 25th. Deutsche Bank Aktiengesellschaft decreased their price target on Boston Beer from $281.00 to $277.00 and set a "hold" rating for the company in a research note on Thursday, October 24th. Piper Sandler raised their price objective on Boston Beer from $325.00 to $330.00 and gave the company an "overweight" rating in a research note on Friday, October 25th. Roth Mkm reiterated a "buy" rating and set a $389.00 price target 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 research note on Friday. They issued a "hold" rating for the company. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $314.82.

Boston Beer Trading Down 0.5 %

SAM stock traded down $1.52 during midday trading on Friday, hitting $314.57. The stock had a trading volume of 26,729 shares, compared to its average volume of 153,584. The stock has a 50-day simple moving average of $299.49 and a 200 day simple moving average of $287.61. The Boston Beer Company, Inc. has a 52 week low of $254.40 and a 52 week high of $371.65. The firm has a market capitalization of $3.61 billion, a price-to-earnings ratio of 46.48, a P/E/G ratio of 1.20 and a beta of 1.07.

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.