Raymond James & Associates Decreases Stake in The Boston Beer Company, Inc. (NYSE:SAM)

Raymond James & Associates trimmed its position in shares of The Boston Beer Company, Inc. (NYSE:SAM – Get Rating) by 62.4% during the third quarter, Holdings Channel reports. The institutional investor owned 5,808 shares of the company’s stock after selling 9,646 shares during the quarter. Raymond James & Associates’ holdings in Boston Beer were worth $1,880,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. FMR LLC grew its holdings in Boston Beer by 58.1% during the 2nd quarter. FMR LLC now owns 1,292,870 shares of the company’s stock worth $391,701,000 after acquiring an additional 475,135 shares in the last quarter. Candlestick Capital Management LP purchased a new position in Boston Beer in the second quarter valued at $36,356,000. Loomis Sayles & Co. L P purchased a new position in Boston Beer in the first quarter valued at $38,859,000. Millennium Management LLC acquired a new stake in Boston Beer in the second quarter valued at $18,690,000. Finally, Wellington Management Group LLP lifted its holdings in Boston Beer by 119.6% during the 1st quarter. Wellington Management Group LLP now owns 92,524 shares of the company’s stock worth $35,943,000 after buying an additional 50,384 shares during the last quarter. Institutional investors and hedge funds own 68.72% of the company’s stock.

Insider Buying and Selling at Boston Beer

In other news, VP Annette N. Fritsch sold 150 shares of the company’s stock in a transaction that occurred on Wednesday, October 26th. The stock was sold at an average price of $407.89, for a total transaction of $61,183.50. Following the completion of the sale, the vice president now owns 1,275 shares in the company, valued at $520,059.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders have sold 250 shares of company stock worth $97,560. 23.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on SAM shares. UBS Group raised their target price on Boston Beer from $312.00 to $412.00 and gave the stock a “neutral” rating in a research report on Monday, October 24th. Credit Suisse Group raised their price objective on shares of Boston Beer to $410.00 in a report on Thursday, October 27th. Jefferies Financial Group cut shares of Boston Beer from a “hold” rating to an “underperform” rating and lowered their target price for the company from $331.00 to $275.00 in a report on Wednesday, January 4th. Deutsche Bank Aktiengesellschaft downgraded shares of Boston Beer from a “hold” rating to a “sell” rating and increased their target price for the company from $315.00 to $316.00 in a research report on Tuesday, December 6th. Finally, StockNews.com started coverage on shares of Boston Beer in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Five research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $351.47.

Boston Beer Stock Up 2.8 %

Shares of SAM stock opened at $364.76 on Tuesday. The stock’s 50-day moving average price is $353.98 and its 200 day moving average price is $353.94. The stock has a market capitalization of $4.48 billion, a PE ratio of 170.45 and a beta of 1.00. The Boston Beer Company, Inc. has a 52-week low of $287.00 and a 52-week high of $454.11.

Boston Beer Profile

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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, and hard seltzers under the Samuel Adams, Twisted Tea, Truly Hard Seltzer, Angry Orchard, Dogfish Head, Angel City, Coney Island, Concrete Beach brand names.