Victory Capital Management Inc. Sells 38 Shares of The Boston Beer Company, Inc. (NYSE:SAM)

Victory Capital Management Inc. lowered its position in shares of The Boston Beer Company, Inc. (NYSE:SAM) by 1.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,192 shares of the company’s stock after selling 38 shares during the period. Victory Capital Management Inc.’s holdings in Boston Beer were worth $634,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. LRI Investments LLC purchased a new stake in Boston Beer during the 1st quarter valued at $30,000. Covestor Ltd lifted its holdings in shares of Boston Beer by 36.6% in the third quarter. Covestor Ltd now owns 127 shares of the company’s stock worth $37,000 after buying an additional 34 shares in the last quarter. ORG Partners LLC purchased a new stake in Boston Beer in the 2nd quarter worth $48,000. Sachetta LLC boosted its stake in Boston Beer by 1,533.3% during the second quarter. Sachetta LLC now owns 245 shares of the company’s stock valued at $68,000 after buying an additional 230 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale grew its holdings in shares of Boston Beer by 61.3% in the second quarter. DekaBank Deutsche Girozentrale now owns 250 shares of the company’s stock valued at $75,000 after purchasing an additional 95 shares in the last quarter. Hedge funds and other institutional investors own 81.13% of the company’s stock.

Boston Beer Price Performance

Shares of SAM stock opened at $313.68 on Friday. 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 capitalization of $3.60 billion, a price-to-earnings ratio of 46.13, a price-to-earnings-growth ratio of 1.21 and a beta of 1.06. The business has a fifty day moving average of $294.59 and a 200 day moving average of $286.30.

Analysts Set New Price Targets

SAM has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft dropped their price target on Boston Beer from $281.00 to $277.00 and set a “hold” rating for the company in a research report on Thursday, October 24th. Piper Sandler raised their price target on shares of Boston Beer from $325.00 to $330.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Roth Mkm reaffirmed a “buy” rating and set a $389.00 target price on shares of Boston Beer in a research report on Wednesday, October 23rd. UBS Group upped their price target on shares of Boston Beer from $300.00 to $309.00 in a research report on Thursday, October 24th. Finally, Jefferies Financial Group lowered Boston Beer from a “buy” rating to a “hold” rating and cut their target price for the company from $355.00 to $325.00 in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $314.82.

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.