Carolyn L. O’boyle Sells 62 Shares of The Boston Beer Company, Inc. (NYSE:SAM) Stock

The Boston Beer Company, Inc. (NYSE:SAM) insider Carolyn L. O’boyle sold 62 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $301.76, for a total transaction of $18,709.12. Following the completion of the sale, the insider now directly owns 6,655 shares of the company’s stock, valued at approximately $2,008,212.80. This represents a 0.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Boston Beer Stock Down 3.8 %

Shares of NYSE SAM opened at $289.72 on Monday. The firm’s 50-day moving average price is $308.00 and its 200-day moving average price is $291.12. The Boston Beer Company, Inc. has a 52-week low of $254.40 and a 52-week high of $371.65. The company has a market cap of $3.33 billion, a PE ratio of 42.61, a PEG ratio of 1.21 and a beta of 1.07.

Wall Street Analyst Weigh In

SAM has been the topic of several research reports. Needham & Company LLC initiated coverage on Boston Beer in a research report on Friday, December 6th. They set a “hold” rating on the stock. Roth Mkm restated a “buy” rating and set a $389.00 target price on shares of Boston Beer in a report on Wednesday, October 23rd. Jefferies Financial Group downgraded shares of Boston Beer from a “buy” rating to a “hold” rating and decreased their target price for the company from $355.00 to $325.00 in a research note on Friday, October 25th. 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 report on Thursday, October 24th. Finally, Piper Sandler lifted their price target on Boston Beer from $325.00 to $330.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $314.82.

Institutional Investors Weigh In On Boston Beer

A number of large investors have recently added to or reduced their stakes in SAM. Point72 Hong Kong Ltd purchased a new position in shares of Boston Beer in the 3rd quarter worth $1,746,000. Savant Capital LLC purchased a new position in Boston Beer in the second quarter worth about $982,000. Barclays PLC grew its stake in shares of Boston Beer by 44.2% during the 3rd quarter. Barclays PLC now owns 12,988 shares of the company’s stock valued at $3,753,000 after purchasing an additional 3,983 shares during the period. SW Investment Management LLC purchased a new stake in shares of Boston Beer during the 2nd quarter valued at about $1,525,000. Finally, Verition Fund Management LLC boosted its holdings in shares of Boston Beer by 582.6% in the third quarter. Verition Fund Management LLC now owns 19,693 shares of the company’s stock worth $5,694,000 after buying an additional 16,808 shares during the last quarter. Institutional investors own 81.13% of the company’s stock.

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.