The Boston Beer Company, Inc. (NYSE:SAM) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. cut its stake in The Boston Beer Company, Inc. (NYSE:SAM) by 14.1% during the 4th quarter, Holdings Channel.com reports. The fund owned 4,014 shares of the company’s stock after selling 661 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Boston Beer were worth $1,204,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. State Street Corp raised its stake in Boston Beer by 7.8% during the third quarter. State Street Corp now owns 292,643 shares of the company’s stock worth $84,615,000 after purchasing an additional 21,276 shares during the period. Quantinno Capital Management LP raised its position in shares of Boston Beer by 647.7% in the 3rd quarter. Quantinno Capital Management LP now owns 21,064 shares of the company’s stock worth $6,090,000 after buying an additional 18,247 shares during the period. 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 buying an additional 16,808 shares during the period. Holocene Advisors LP boosted its holdings in Boston Beer by 130.9% in the third quarter. Holocene Advisors LP now owns 17,431 shares of the company’s stock valued at $5,040,000 after acquiring an additional 9,882 shares during the last quarter. Finally, Franklin Resources Inc. grew its position in Boston Beer by 10.1% during the third quarter. Franklin Resources Inc. now owns 15,389 shares of the company’s stock valued at $4,239,000 after acquiring an additional 1,406 shares during the period. 81.13% of the stock is currently owned by hedge funds and other institutional investors.

Boston Beer Price Performance

Shares of SAM stock opened at $247.99 on Tuesday. The company’s fifty day moving average price is $256.39 and its two-hundred day moving average price is $280.24. The firm has a market capitalization of $2.85 billion, a P/E ratio of 36.47, a P/E/G ratio of 1.23 and a beta of 1.06. The Boston Beer Company, Inc. has a 12 month low of $222.27 and a 12 month high of $339.77.

Analysts Set New Price Targets

A number of equities analysts have recently commented on SAM shares. Citigroup cut their price objective on Boston Beer from $335.00 to $290.00 and set a “neutral” rating on the stock in a report on Wednesday, January 15th. Roth Mkm restated a “buy” rating and issued a $349.00 price target (down previously from $389.00) on shares of Boston Beer in a report on Wednesday, February 26th. Morgan Stanley decreased their price objective on shares of Boston Beer from $290.00 to $270.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 26th. Piper Sandler cut their target price on shares of Boston Beer from $275.00 to $240.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 26th. Finally, StockNews.com raised shares of Boston Beer from a “hold” rating to a “buy” rating in a research report on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $293.40.

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.