Loomis Sayles & Co. L P Has $21.06 Million Position in The Boston Beer Company, Inc. (NYSE:SAM)

Loomis Sayles & Co. L P lessened its holdings in The Boston Beer Company, Inc. (NYSE:SAM) by 10.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 72,833 shares of the company’s stock after selling 8,653 shares during the period. Loomis Sayles & Co. L P’s holdings in Boston Beer were worth $21,059,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Redwood Investment Management LLC purchased a new position in Boston Beer during the first quarter valued at approximately $1,502,000. Jane Street Group LLC grew its holdings in shares of Boston Beer by 171.8% during the 1st quarter. Jane Street Group LLC now owns 15,876 shares of the company’s stock valued at $4,833,000 after acquiring an additional 37,985 shares in the last quarter. Tidal Investments LLC grew its holdings in shares of Boston Beer by 100.6% during the 1st quarter. Tidal Investments LLC now owns 1,868 shares of the company’s stock valued at $569,000 after acquiring an additional 937 shares in the last quarter. Comerica Bank increased its stake in shares of Boston Beer by 51.0% in the first quarter. Comerica Bank now owns 4,193 shares of the company’s stock worth $1,276,000 after acquiring an additional 1,416 shares during the last quarter. Finally, iA Global Asset Management Inc. raised its holdings in shares of Boston Beer by 0.8% during the first quarter. iA Global Asset Management Inc. now owns 19,265 shares of the company’s stock worth $5,865,000 after acquiring an additional 161 shares in the last quarter. Hedge funds and other institutional investors own 81.13% of the company’s stock.

Boston Beer Stock Performance

Shares of NYSE:SAM opened at $312.28 on Wednesday. The stock’s 50-day moving average is $293.10 and its 200-day moving average is $285.95. The company has a market cap of $3.58 billion, a P/E ratio of 45.92, a P/E/G ratio of 1.21 and a beta of 1.06. The Boston Beer Company, Inc. has a 52-week low of $254.40 and a 52-week high of $371.65.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft dropped their target price on Boston Beer from $281.00 to $277.00 and set a “hold” rating on the stock in a research report on Thursday, October 24th. Piper Sandler increased their price objective on Boston Beer from $325.00 to $330.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. UBS Group lifted their target price on shares of Boston Beer from $300.00 to $309.00 in a research note on Thursday, October 24th. Roth Mkm restated a “buy” rating and set a $389.00 price target on shares of Boston Beer in a research note on Wednesday, October 23rd. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $318.00 price objective on shares of Boston Beer in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Boston Beer presently has an average rating of “Hold” and an average price target 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.