Southernsun Asset Management LLC Sells 22,554 Shares of The Boston Beer Company, Inc. (NYSE:SAM)

Southernsun Asset Management LLC trimmed its stake in The Boston Beer Company, Inc. (NYSE:SAM) by 15.8% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 120,108 shares of the company’s stock after selling 22,554 shares during the period. Boston Beer accounts for about 4.1% of Southernsun Asset Management LLC’s investment portfolio, making the stock its 12th largest position. Southernsun Asset Management LLC’s holdings in Boston Beer were worth $34,728,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. First Horizon Advisors Inc. grew its holdings in Boston Beer by 105.1% in the 3rd quarter. First Horizon Advisors Inc. now owns 121 shares of the company’s stock valued at $35,000 after buying an additional 62 shares during the last quarter. Covestor Ltd grew its holdings in Boston Beer by 36.6% in the 3rd quarter. Covestor Ltd now owns 127 shares of the company’s stock valued at $37,000 after buying an additional 34 shares during the last quarter. True Wealth Design LLC acquired a new stake in Boston Beer in the 3rd quarter valued at approximately $47,000. ORG Partners LLC acquired a new stake in Boston Beer in the 2nd quarter valued at approximately $48,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Boston Beer in the 3rd quarter valued at approximately $49,000. 81.13% of the stock is owned by institutional investors.

Boston Beer Price Performance

Boston Beer stock opened at $316.09 on Friday. The company has a market capitalization of $3.63 billion, a PE ratio of 46.48, a price-to-earnings-growth ratio of 1.20 and a beta of 1.07. The Boston Beer Company, Inc. has a one year low of $254.40 and a one year high of $371.65. The business has a 50 day simple moving average of $298.71 and a 200 day simple moving average of $287.41.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $318.00 target price on shares of Boston Beer in a report on Friday, October 25th. Deutsche Bank Aktiengesellschaft decreased their price objective on Boston Beer from $281.00 to $277.00 and set a “hold” rating on the stock in a report on Thursday, October 24th. Roth Mkm reissued a “buy” rating and set a $389.00 price objective on shares of Boston Beer in a report on Wednesday, October 23rd. Jefferies Financial Group lowered Boston Beer from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $355.00 to $325.00 in a report on Friday, October 25th. Finally, Piper Sandler lifted their price objective on Boston Beer from $325.00 to $330.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Boston Beer has an average rating of “Hold” and a consensus target price of $314.82.

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