Carolyn L. O’boyle Sells 62 Shares of The Boston Beer Company, Inc. (NYSE:SAM) Stock

The Boston Beer Company, Inc. (NYSE:SAM) insider Carolyn L. O’boyle sold 62 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $301.76, for a total transaction of $18,709.12. Following the sale, the insider now directly owns 6,655 shares of the company’s stock, valued at approximately $2,008,212.80. This trade represents a 0.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Boston Beer Stock Down 3.8 %

Boston Beer stock opened at $289.72 on Friday. The stock has a market capitalization of $3.33 billion, a PE ratio of 42.61, a price-to-earnings-growth ratio of 1.21 and a beta of 1.07. The Boston Beer Company, Inc. has a twelve month low of $254.40 and a twelve month high of $371.65. The company has a 50 day moving average of $308.00 and a 200-day moving average of $291.15.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC boosted its holdings in shares of Boston Beer by 59.3% in the fourth quarter. GAMMA Investing LLC now owns 129 shares of the company’s stock valued at $39,000 after buying an additional 48 shares during the period. Versant Capital Management Inc boosted its holdings in Boston Beer by 37.5% during the fourth quarter. Versant Capital Management Inc now owns 348 shares of the company’s stock worth $104,000 after purchasing an additional 95 shares during the last quarter. Franklin Resources Inc. boosted its holdings in Boston Beer by 10.1% during the third quarter. Franklin Resources Inc. now owns 15,389 shares of the company’s stock worth $4,239,000 after purchasing an additional 1,406 shares during the last quarter. Tidal Investments LLC acquired a new position in Boston Beer during the third quarter worth $299,000. Finally, Sanctuary Advisors LLC boosted its holdings in Boston Beer by 176.3% during the third quarter. Sanctuary Advisors LLC now owns 2,078 shares of the company’s stock worth $650,000 after purchasing an additional 1,326 shares during the last quarter. Institutional investors and hedge funds own 81.13% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on SAM. Jefferies Financial Group downgraded shares of Boston Beer from a “buy” rating to a “hold” rating and dropped their price target for the stock from $355.00 to $325.00 in a research note on Friday, October 25th. Royal Bank of Canada reissued a “sector perform” rating and set a $318.00 price target on shares of Boston Beer in a research note on Friday, October 25th. Roth Mkm reissued a “buy” rating and set a $389.00 price target on shares of Boston Beer in a research note on Wednesday, October 23rd. UBS Group upped their target price on shares of Boston Beer from $300.00 to $309.00 in a research note on Thursday, October 24th. Finally, Piper Sandler upped their target price on shares of Boston Beer from $325.00 to $330.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $314.82.

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.