Amalgamated Bank Has $2.65 Million Position in The Boston Beer Company, Inc. (NYSE:SAM)

Amalgamated Bank increased its position in shares of The Boston Beer Company, Inc. (NYSE:SAMFree Report) by 1.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,789 shares of the company’s stock after purchasing an additional 92 shares during the quarter. Amalgamated Bank owned 0.06% of Boston Beer worth $2,645,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in SAM. Eagle Bay Advisors LLC bought a new position in shares of Boston Beer in the second quarter worth about $32,000. Amundi lifted its holdings in shares of Boston Beer by 75.6% in the fourth quarter. Amundi now owns 158 shares of the company’s stock worth $54,000 after acquiring an additional 68 shares during the last quarter. Dark Forest Capital Management LP lifted its holdings in shares of Boston Beer by 302.2% in 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 last quarter. Huntington National Bank lifted its holdings in shares of Boston Beer by 16.4% in the second quarter. Huntington National Bank now owns 206 shares of the company’s stock worth $64,000 after acquiring an additional 29 shares during the last quarter. Finally, CWM LLC lifted its holdings in shares of Boston Beer by 264.2% in the third quarter. CWM LLC now owns 193 shares of the company’s stock worth $75,000 after acquiring an additional 140 shares during the last quarter. Institutional investors own 64.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Roth Mkm increased their target price on shares of Boston Beer from $406.00 to $422.00 and gave the stock a “buy” rating in a report on Tuesday, January 23rd. UBS Group lowered their price objective on Boston Beer from $408.00 to $390.00 and set a “neutral” rating for the company in a research note on Friday, October 27th. Sanford C. Bernstein raised Boston Beer from an “underperform” rating to a “market perform” rating and upped their price objective for the company from $280.00 to $335.00 in a research note on Tuesday, January 16th. 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 objective for the company. Finally, Morgan Stanley upped their price objective on Boston Beer from $270.00 to $285.00 and gave the company an “underweight” rating in a research note on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $350.31.

Read Our Latest Report on Boston Beer

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 Thursday, February 1st. The stock was sold at an average price of $350.72, for a total transaction of $35,773.44. Following the transaction, the insider now directly owns 2,630 shares in the company, valued at approximately $922,393.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last three months, insiders have sold 306 shares of company stock worth $107,146. Corporate insiders own 23.50% of the company’s stock.

Boston Beer Stock Performance

NYSE:SAM opened at $350.27 on Monday. The company has a market capitalization of $4.27 billion, a PE ratio of 51.82, a P/E/G ratio of 1.04 and a beta of 1.09. The Boston Beer Company, Inc. has a fifty-two week low of $296.27 and a fifty-two week high of $396.20. The company has a 50 day simple moving average of $350.56 and a two-hundred day simple moving average of $356.04.

About Boston Beer

(Free Report)

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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Institutional Ownership by Quarter for Boston Beer (NYSE:SAM)

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