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
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
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.
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