Gagnon Securities LLC Sells 75 Shares of The Boston Beer Company, Inc. (NYSE:SAM)

Gagnon Securities LLC lessened its stake in shares of The Boston Beer Company, Inc. (NYSE:SAM) by 0.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,380 shares of the company’s stock after selling 75 shares during the quarter. Boston Beer comprises about 1.4% of Gagnon Securities LLC’s investment portfolio, making the stock its 25th biggest holding. Gagnon Securities LLC owned 0.19% of Boston Beer worth $6,714,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Blue Trust Inc. boosted its holdings in shares of Boston Beer by 405.6% in the fourth quarter. Blue Trust Inc. now owns 91 shares of the company’s stock worth $26,000 after buying an additional 73 shares during the last quarter. First Horizon Advisors Inc. increased its position in Boston Beer by 105.1% in the third quarter. First Horizon Advisors Inc. now owns 121 shares of the company’s stock worth $35,000 after purchasing an additional 62 shares during the last quarter. Covestor Ltd increased its position in Boston Beer by 36.6% in the third quarter. Covestor Ltd now owns 127 shares of the company’s stock worth $37,000 after purchasing an additional 34 shares during the last quarter. GAMMA Investing LLC increased its position in Boston Beer by 59.3% in the fourth quarter. GAMMA Investing LLC now owns 129 shares of the company’s stock worth $39,000 after purchasing an additional 48 shares during the last quarter. Finally, True Wealth Design LLC bought a new position in Boston Beer during the third quarter valued at $47,000. Hedge funds and other institutional investors own 81.13% of the company’s stock.

Boston Beer Trading Down 1.5 %

Boston Beer stock opened at $250.77 on Friday. The Boston Beer Company, Inc. has a 12 month low of $243.20 and a 12 month high of $371.65. The stock’s 50 day simple moving average is $288.41 and its two-hundred day simple moving average is $286.01. The firm has a market cap of $2.88 billion, a PE ratio of 36.88, a P/E/G ratio of 0.80 and a beta of 1.08.

Analyst Upgrades and Downgrades

SAM has been the topic of a number of analyst reports. Needham & Company LLC started coverage on shares of Boston Beer in a research report on Friday, December 6th. They set a “hold” rating on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $318.00 price objective on shares of Boston Beer in a research note on Friday, October 25th. UBS Group reduced their target price on shares of Boston Beer from $315.00 to $290.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Jefferies Financial Group downgraded shares of Boston Beer from a “buy” rating to a “hold” rating and reduced their target price for the stock from $355.00 to $325.00 in a report on Friday, October 25th. Finally, Piper Sandler downgraded shares of Boston Beer from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $370.00 to $275.00 in a report on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $302.90.

About Boston Beer

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, flavored malt beverages, and hard seltzers under the Samuel Adams, Twisted Tea, Truly, Angry Orchard, Dogfish Head, Angel City, and Coney Island brand names.