The Boston Beer Company, Inc. (NYSE:SAM) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC lessened its stake in shares of The Boston Beer Company, Inc. (NYSE:SAM) by 2.8% in the third quarter, Holdings Channel.com reports. The fund owned 14,310 shares of the company’s stock after selling 419 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Boston Beer were worth $4,138,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. LRI Investments LLC acquired a new position in shares of Boston Beer in the 1st quarter valued at $28,000. Covestor Ltd increased its position 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 acquiring an additional 34 shares in the last quarter. ORG Partners LLC acquired a new stake in shares of Boston Beer during the second quarter valued at approximately $48,000. Sachetta LLC lifted its position in shares of Boston Beer by 1,533.3% in the 2nd quarter. Sachetta LLC now owns 245 shares of the company’s stock valued at $68,000 after acquiring an additional 230 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its stake in Boston Beer by 61.3% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 250 shares of the company’s stock worth $75,000 after purchasing an additional 95 shares during the period. 81.13% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on SAM. Jefferies Financial Group downgraded shares of 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. Deutsche Bank Aktiengesellschaft reduced their price objective on Boston Beer from $281.00 to $277.00 and set a “hold” rating for the company in a research note on Thursday, October 24th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $318.00 target price on shares of Boston Beer in a research note on Friday, October 25th. UBS Group increased their price target on shares of Boston Beer from $300.00 to $309.00 in a research report on Thursday, October 24th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $389.00 price objective on shares of Boston Beer in a research report on Wednesday, October 23rd. One equities research 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. Based on data from MarketBeat, Boston Beer currently has an average rating of “Hold” and an average target price of $314.82.

Boston Beer Stock Performance

NYSE:SAM opened at $318.04 on Wednesday. The company has a market capitalization of $3.65 billion, a P/E ratio of 46.77, a P/E/G ratio of 1.18 and a beta of 1.06. The stock’s 50 day moving average price is $285.85 and its 200 day moving average price is $283.65. The Boston Beer Company, Inc. has a 52 week low of $254.40 and a 52 week high of $371.65.

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.