Mutual of America Capital Management LLC Lowers Stock Holdings in The Boston Beer Company, Inc. (NYSE:SAM)

Mutual of America Capital Management LLC cut its stake in The Boston Beer Company, Inc. (NYSE:SAMFree Report) by 7.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,027 shares of the company’s stock after selling 1,152 shares during the period. Mutual of America Capital Management LLC’s holdings in Boston Beer were worth $5,464,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in shares of Boston Beer by 2.2% in the 3rd quarter. Vanguard Group Inc. now owns 886,104 shares of the company’s stock valued at $286,787,000 after purchasing an additional 18,969 shares during the last quarter. State Street Corp boosted its holdings in shares of Boston Beer by 0.6% in the second quarter. State Street Corp now owns 261,664 shares of the company’s stock valued at $80,708,000 after acquiring an additional 1,612 shares during the period. Geode Capital Management LLC grew its position in shares of Boston Beer by 5.3% during the second quarter. Geode Capital Management LLC now owns 137,739 shares of the company’s stock worth $42,484,000 after acquiring an additional 6,897 shares during the last quarter. Southernsun Asset Management LLC increased its holdings in shares of Boston Beer by 5.4% in the 2nd quarter. Southernsun Asset Management LLC now owns 133,099 shares of the company’s stock valued at $41,053,000 after acquiring an additional 6,789 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in Boston Beer by 8.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 127,757 shares of the company’s stock valued at $39,406,000 after purchasing an additional 9,802 shares during the last quarter. Institutional investors and hedge funds own 64.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on SAM shares. Sanford C. Bernstein raised shares of Boston Beer from an “underperform” rating to a “market perform” rating and raised their price objective for the stock from $280.00 to $335.00 in a research report on Tuesday, January 16th. Wedbush raised their price target on Boston Beer from $370.00 to $378.00 and gave the stock a “neutral” rating in a report on Wednesday, October 25th. Jefferies Financial Group initiated coverage on Boston Beer in a research note on Monday, November 13th. They set a “hold” rating and a $375.00 price objective for the company. Morgan Stanley lifted their target price on Boston Beer from $270.00 to $285.00 and gave the company an “underweight” rating in a research note on Friday, October 27th. Finally, UBS Group cut their price target 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. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $350.31.

Check Out Our Latest Report on SAM

Insiders Place Their Bets

In other news, insider Carolyn L. O’boyle sold 102 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $344.83, for a total transaction of $35,172.66. Following the sale, the insider now owns 2,732 shares of the company’s stock, valued at approximately $942,075.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last three months, insiders have sold 306 shares of company stock worth $107,146. 23.50% of the stock is owned by company insiders.

Boston Beer Stock Down 0.4 %

NYSE:SAM opened at $350.27 on Monday. The Boston Beer Company, Inc. has a fifty-two week low of $296.27 and a fifty-two week high of $396.20. The firm’s fifty day simple moving average is $350.56 and its 200-day simple moving average is $356.04. The stock has a market cap of $4.27 billion, a PE ratio of 51.82, a price-to-earnings-growth ratio of 1.04 and a beta of 1.09.

Boston Beer Profile

(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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