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

Loomis Sayles & Co. L P lessened its position in shares of The Boston Beer Company, Inc. (NYSE:SAM - Free Report) by 5.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 68,699 shares of the company's stock after selling 4,134 shares during the quarter. Loomis Sayles & Co. L P owned approximately 0.60% of Boston Beer worth $20,608,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of SAM. Cerity Partners LLC acquired a new stake in shares of Boston Beer in the third quarter valued at $2,750,000. Quantbot Technologies LP bought a new stake in Boston Beer during the 3rd quarter worth about $1,483,000. BNP Paribas Financial Markets lifted its position in Boston Beer by 104.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,440 shares of the company's stock valued at $416,000 after purchasing an additional 737 shares during the period. Captrust Financial Advisors boosted its stake in shares of Boston Beer by 258.8% in the 3rd quarter. Captrust Financial Advisors now owns 2,558 shares of the company's stock valued at $740,000 after purchasing an additional 1,845 shares during the last quarter. Finally, Verition Fund Management LLC grew its position in shares of Boston Beer by 582.6% during the 3rd quarter. Verition Fund Management LLC now owns 19,693 shares of the company's stock worth $5,694,000 after buying an additional 16,808 shares during the period. 81.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on SAM shares. Needham & Company LLC began coverage on Boston Beer in a research note on Friday, December 6th. They issued a "hold" rating on the stock. Piper Sandler cut their price target on shares of Boston Beer from $275.00 to $240.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 26th. Berenberg Bank initiated coverage on shares of Boston Beer in a report on Wednesday. They set a "hold" rating and a $281.10 price objective on the stock. UBS Group reduced their price target on Boston Beer from $315.00 to $290.00 and set a "neutral" rating for the company in a research report on Thursday, January 16th. Finally, Citigroup upgraded Boston Beer from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $265.00 to $280.00 in a research note on Thursday, March 20th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $291.37.

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Boston Beer Stock Performance

Shares of NYSE:SAM traded up $2.07 during midday trading on Wednesday, reaching $245.54. The company's stock had a trading volume of 33,506 shares, compared to its average volume of 167,565. The firm has a 50 day moving average price of $237.21 and a two-hundred day moving average price of $273.85. The Boston Beer Company, Inc. has a fifty-two week low of $215.10 and a fifty-two week high of $339.77. The firm has a market capitalization of $2.76 billion, a price-to-earnings ratio of 36.13, a PEG ratio of 1.23 and a beta of 1.14.

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.