Mutual of America Capital Management LLC lowered its stake in The Boston Beer Company, Inc. (NYSE:SAM – Free Report) by 7.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 14,027 shares of the company’s stock after selling 1,152 shares during the quarter. Mutual of America Capital Management LLC owned about 0.12% of Boston Beer worth $5,464,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Eagle Bay Advisors LLC bought a new position in Boston Beer during the second quarter worth about $32,000. First Command Advisory Services Inc. bought a new position in Boston Beer during the third quarter worth $56,000. Amundi increased its holdings in shares of Boston Beer by 75.6% in the fourth quarter. Amundi now owns 158 shares of the company’s stock valued at $54,000 after purchasing an additional 68 shares during the last quarter. Dark Forest Capital Management LP boosted its holdings in shares of Boston Beer by 302.2% during the first quarter. Dark Forest Capital Management LP now owns 185 shares of the company’s stock worth $61,000 after acquiring an additional 139 shares during the period. Finally, Baltimore Washington Financial Advisors Inc. acquired a new stake in Boston Beer during the 1st quarter worth approximately $229,000. 64.10% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other Boston Beer news, insider Carolyn L. O’boyle sold 102 shares of the stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $354.90, for a total transaction of $36,199.80. Following the transaction, the insider now directly owns 2,834 shares in the company, valued at approximately $1,005,786.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last three months, insiders sold 306 shares of company stock worth $107,146. 23.50% of the stock is owned by corporate insiders.
Boston Beer Trading Down 0.4 %
Analysts Set New Price Targets
A number of equities research analysts have recently issued reports on the stock. Wedbush boosted their target price on shares of Boston Beer from $370.00 to $378.00 and gave the company a “neutral” rating in a research report on Wednesday, October 25th. Roth Mkm upped their target price on Boston Beer from $406.00 to $422.00 and gave the company a “buy” rating in a research report on Tuesday, January 23rd. Morgan Stanley increased their price objective on shares of Boston Beer from $270.00 to $285.00 and gave the stock an “underweight” rating in a research note on Friday, October 27th. Sanford C. Bernstein upgraded Boston Beer from an “underperform” rating to a “market perform” rating and lifted their price target for the company from $280.00 to $335.00 in a research note on Tuesday, January 16th. Finally, Jefferies Financial Group initiated coverage on Boston Beer in a research note on Monday, November 13th. They issued a “hold” rating and a $375.00 price target for the company. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Boston Beer currently has a consensus rating of “Hold” and a consensus target price of $350.31.
Boston Beer Profile
The Boston Beer Company, Inc engages in the production and sale of 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 Hard Seltzer, Angry Orchard, Dogfish Head, Angel City, Coney Island, and Havana Lager brand names.
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