Mackay Shields LLC Trims Position in Boston Beer Company Inc (NYSE:SAM)

Mackay Shields LLC lessened its stake in shares of Boston Beer Company Inc (NYSE:SAM) by 10.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,400 shares of the company’s stock after selling 1,500 shares during the quarter. Mackay Shields LLC owned about 0.10% of Boston Beer worth $4,514,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. 6 Meridian grew its holdings in Boston Beer by 1.3% during the 2nd quarter. 6 Meridian now owns 2,038 shares of the company’s stock valued at $770,000 after buying an additional 27 shares in the last quarter. Eukles Asset Management grew its holdings in Boston Beer by 2.6% during the 2nd quarter. Eukles Asset Management now owns 1,234 shares of the company’s stock valued at $466,000 after buying an additional 31 shares in the last quarter. LS Investment Advisors LLC grew its holdings in Boston Beer by 6.6% during the 3rd quarter. LS Investment Advisors LLC now owns 666 shares of the company’s stock valued at $242,000 after buying an additional 41 shares in the last quarter. Retirement Systems of Alabama grew its holdings in Boston Beer by 0.4% during the 2nd quarter. Retirement Systems of Alabama now owns 11,377 shares of the company’s stock valued at $4,298,000 after buying an additional 42 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund grew its holdings in Boston Beer by 1.5% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 3,468 shares of the company’s stock valued at $1,310,000 after buying an additional 50 shares in the last quarter. 71.80% of the stock is owned by institutional investors and hedge funds.

A number of research analysts have weighed in on SAM shares. Cowen raised Boston Beer from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $386.00 to $450.00 in a report on Thursday, October 17th. Citigroup raised Boston Beer from a “neutral” rating to a “buy” rating and lifted their target price for the company from $394.00 to $448.00 in a report on Friday, October 11th. BMO Capital Markets lifted their target price on Boston Beer to $425.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. They noted that the move was a valuation call. Deutsche Bank lifted their target price on Boston Beer from $380.00 to $395.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Finally, ValuEngine lowered Boston Beer from a “buy” rating to a “hold” rating in a report on Tuesday, October 1st. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $384.63.

In other news, Chairman C James Koch sold 7,000 shares of Boston Beer stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $378.52, for a total transaction of $2,649,640.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders have sold 71,000 shares of company stock valued at $27,901,780. Corporate insiders own 28.40% of the company’s stock.

Shares of SAM traded up $5.95 during trading hours on Friday, reaching $361.97. 115,076 shares of the company’s stock traded hands, compared to its average volume of 173,457. The stock has a market cap of $4.22 billion, a PE ratio of 48.46, a price-to-earnings-growth ratio of 3.78 and a beta of 0.61. The firm’s 50 day simple moving average is $374.05 and its 200-day simple moving average is $368.99. Boston Beer Company Inc has a 12 month low of $230.93 and a 12 month high of $444.64.

Boston Beer 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, and hard seltzers under the Samuel Adams, Twisted Tea, Angry Orchard Hard Cider, and Truly Hard Seltzer brand names.

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

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