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

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Mackay Shields LLC trimmed its position in Boston Beer Company Inc (NYSE:SAM) by 10.8% during the 3rd quarter, Holdings Channel.com reports. The firm owned 12,400 shares of the company’s stock after selling 1,500 shares during the period. Mackay Shields LLC’s holdings in Boston Beer were worth $4,514,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of SAM. Tower Research Capital LLC TRC purchased a new stake in Boston Beer in the second quarter worth $35,000. Golden State Wealth Management LLC grew its stake in Boston Beer by 910.0% in the third quarter. Golden State Wealth Management LLC now owns 101 shares of the company’s stock worth $37,000 after purchasing an additional 91 shares during the period. HM Payson & Co. purchased a new stake in Boston Beer in the second quarter worth $38,000. Marshall Wace North America L.P. purchased a new stake in Boston Beer in the first quarter worth $59,000. Finally, NEXT Financial Group Inc grew its stake in Boston Beer by 119.0% in the second quarter. NEXT Financial Group Inc now owns 184 shares of the company’s stock worth $70,000 after purchasing an additional 100 shares during the period. 71.80% of the stock is currently owned by institutional investors.

Several brokerages recently weighed in on SAM. Credit Suisse Group upped their price target on Boston Beer from $375.00 to $400.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. UBS Group upped their price target on Boston Beer from $390.00 to $415.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Deutsche Bank upped their price target on Boston Beer from $380.00 to $395.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. Guggenheim set a $462.00 price target on Boston Beer and gave the stock a “buy” rating in a research note on Monday, September 23rd. Finally, Citigroup raised Boston Beer from a “neutral” rating to a “buy” rating and upped their price target for the stock from $394.00 to $448.00 in a research note on Friday, October 11th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $384.63.

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

In other news, Chairman C James Koch sold 7,000 shares of the stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $400.00, for a total value of $2,800,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Over the last three months, insiders sold 71,000 shares of company stock worth $27,901,780. Insiders own 28.40% of the company’s stock.

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.

Further Reading: Cost of Equity For A Business, Investors

Want to see what other hedge funds are holding SAM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Boston Beer Company Inc (NYSE:SAM).

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

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