The Boston Beer Company, Inc. (NYSE:SAM) Insider Sells $19,606.88 in Stock

The Boston Beer Company, Inc. (NYSE:SAM) insider Carolyn L. O’boyle sold 62 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $316.24, for a total value of $19,606.88. Following the completion of the sale, the insider now directly owns 6,717 shares in the company, valued at $2,124,184.08. This represents a 0.91 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Boston Beer Price Performance

SAM traded down $2.02 during trading on Tuesday, hitting $312.90. The company’s stock had a trading volume of 44,077 shares, compared to its average volume of 154,441. The Boston Beer Company, Inc. has a twelve month low of $254.40 and a twelve month high of $371.65. The stock has a market cap of $3.59 billion, a PE ratio of 45.92, a PEG ratio of 1.22 and a beta of 1.07. The firm’s 50 day moving average price is $297.10 and its 200-day moving average price is $286.99.

Hedge Funds Weigh In On Boston Beer

Several large investors have recently added to or reduced their stakes in SAM. First Horizon Advisors Inc. boosted its position in shares of Boston Beer by 105.1% in the third quarter. First Horizon Advisors Inc. now owns 121 shares of the company’s stock worth $35,000 after acquiring an additional 62 shares during the last quarter. Covestor Ltd increased its holdings in shares of Boston Beer by 36.6% during the 3rd quarter. Covestor Ltd now owns 127 shares of the company’s stock worth $37,000 after buying an additional 34 shares during the last quarter. True Wealth Design LLC purchased a new position in shares of Boston Beer in the 3rd quarter worth $47,000. ORG Partners LLC acquired a new position in Boston Beer in the second quarter valued at $48,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Boston Beer in the third quarter valued at $49,000. 81.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SAM has been the subject of several research reports. UBS Group boosted their target price on Boston Beer from $300.00 to $309.00 in a report on Thursday, October 24th. Piper Sandler boosted their target price on Boston Beer from $325.00 to $330.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Jefferies Financial Group cut Boston Beer from a “buy” rating to a “hold” rating and cut their price objective for the stock from $355.00 to $325.00 in a research report on Friday, October 25th. Royal Bank of Canada restated a “sector perform” rating and set a $318.00 target price on shares of Boston Beer in a research report on Friday, October 25th. Finally, Roth Mkm reiterated a “buy” rating and issued a $389.00 price target on shares of Boston Beer in a report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Boston Beer presently has a consensus rating of “Hold” and an average target price of $314.82.

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.