Wedge Capital Management L L P NC Sells 593 Shares of Boston Beer Company Inc (NYSE:SAM)

Wedge Capital Management L L P NC reduced its holdings in shares of Boston Beer Company Inc (NYSE:SAM) by 39.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 900 shares of the company’s stock after selling 593 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Boston Beer were worth $328,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Tower Research Capital LLC TRC bought a new position in shares of Boston Beer during the 2nd quarter worth approximately $35,000. HM Payson & Co. bought a new position in shares of Boston Beer in the second quarter valued at $38,000. Golden State Wealth Management LLC grew its stake in shares of Boston Beer by 910.0% in the third quarter. Golden State Wealth Management LLC now owns 101 shares of the company’s stock valued at $37,000 after buying an additional 91 shares in the last quarter. NEXT Financial Group Inc grew its stake in shares of Boston Beer by 119.0% in the second quarter. NEXT Financial Group Inc now owns 184 shares of the company’s stock valued at $70,000 after buying an additional 100 shares in the last quarter. Finally, Signaturefd LLC bought a new position in shares of Boston Beer in the third quarter valued at $73,000. 71.80% of the stock is owned by institutional investors.

Shares of NYSE:SAM traded up $5.95 during midday trading on Friday, hitting $361.97. The stock had a trading volume of 115,076 shares, compared to its average volume of 173,457. The business’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. The company has a market cap of $4.22 billion, a P/E ratio of 48.46, a PEG ratio of 3.78 and a beta of 0.61.

In other Boston Beer news, major shareholder C James Koch sold 7,000 shares of Boston Beer stock in a transaction on Monday, September 16th. The shares were sold at an average price of $388.15, for a total transaction of $2,717,050.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders have sold 71,000 shares of company stock valued at $27,901,780. Company insiders own 28.40% of the company’s stock.

Several research firms recently weighed in on SAM. Jefferies Financial Group decreased their target price on shares of Boston Beer from $332.00 to $319.00 and set an “underperform” rating for the company in a research note on Wednesday, October 30th. They noted that the move was a valuation call. Citigroup raised shares of Boston Beer from a “neutral” rating to a “buy” rating and raised their target price for the company from $394.00 to $448.00 in a research note on Friday, October 11th. Deutsche Bank raised their target price on shares of Boston Beer from $380.00 to $395.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. UBS Group raised their target price on shares of Boston Beer from $390.00 to $415.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Finally, Macquarie set a $460.00 target price on shares of Boston Beer and gave the company a “buy” rating in a research note on Tuesday, October 15th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company’s stock. Boston Beer presently has an average rating of “Hold” and an average target price of $384.63.

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, 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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