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

The Boston Beer Company, Inc. (NYSE:SAM) insider Carolyn L. O’boyle sold 62 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $301.76, for a total transaction of $18,709.12. Following the transaction, the insider now owns 6,655 shares of the company’s stock, valued at $2,008,212.80. The trade was a 0.92 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Boston Beer Trading Down 3.5 %

Shares of NYSE:SAM traded down $10.45 during mid-day trading on Friday, reaching $290.81. The company had a trading volume of 41,860 shares, compared to its average volume of 55,058. The Boston Beer Company, Inc. has a one year low of $254.40 and a one year high of $371.65. The company’s 50-day moving average price is $308.12 and its 200-day moving average price is $291.19. The firm has a market cap of $3.34 billion, a price-to-earnings ratio of 42.77, a PEG ratio of 1.21 and a beta of 1.07.

Analyst Upgrades and Downgrades

SAM has been the subject of several recent analyst reports. Needham & Company LLC assumed coverage on shares of Boston Beer in a research note on Friday, December 6th. They issued a “hold” rating for the company. UBS Group boosted their price objective on shares of Boston Beer from $300.00 to $309.00 in a report on Thursday, October 24th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $318.00 price target on shares of Boston Beer in a research report on Friday, October 25th. Piper Sandler increased 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. Finally, Deutsche Bank Aktiengesellschaft cut their target price on Boston Beer from $281.00 to $277.00 and set a “hold” rating for the company in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Boston Beer currently has an average rating of “Hold” and a consensus price target of $314.82.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SAM. Point72 Hong Kong Ltd purchased a new position in shares of Boston Beer during the 3rd quarter valued at about $1,746,000. Savant Capital LLC bought a new stake in shares of Boston Beer during the 2nd quarter valued at about $982,000. Barclays PLC raised its stake in Boston Beer by 44.2% in the third quarter. Barclays PLC now owns 12,988 shares of the company’s stock worth $3,753,000 after buying an additional 3,983 shares in the last quarter. SW Investment Management LLC purchased a new stake in Boston Beer in the second quarter worth about $1,525,000. Finally, Verition Fund Management LLC raised its position in shares of Boston Beer by 582.6% in the 3rd quarter. Verition Fund Management LLC now owns 19,693 shares of the company’s stock worth $5,694,000 after acquiring an additional 16,808 shares in the last quarter. Institutional investors own 81.13% of the company’s stock.

About Boston Beer

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.