Short Interest in Boston Beer Company Inc (NYSE:SAM) Drops By 11.2%

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Boston Beer Company Inc (NYSE:SAM) saw a large drop in short interest during the month of October. As of October 31st, there was short interest totalling 1,430,000 shares, a drop of 11.2% from the September 30th total of 1,610,000 shares. Based on an average daily volume of 207,700 shares, the short-interest ratio is presently 6.9 days. Currently, 17.1% of the shares of the company are sold short.

A number of research analysts recently weighed in on SAM shares. Deutsche Bank lifted their price objective 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. Royal Bank of Canada set a $346.00 price objective on shares of Boston Beer and gave the company a “hold” rating in a research note on Friday, July 26th. Jefferies Financial Group reduced their price objective 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. UBS Group lifted their price objective 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, Citigroup upgraded shares of Boston Beer from a “neutral” rating to a “buy” rating and lifted their price objective for the company 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 issued a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $384.63.

NYSE:SAM traded up $3.46 during trading hours on Friday, hitting $366.38. The stock had a trading volume of 91,021 shares, compared to its average volume of 197,932. The company has a 50 day simple moving average of $376.06 and a two-hundred day simple moving average of $371.45. Boston Beer has a one year low of $230.93 and a one year high of $444.64. The firm has a market capitalization of $4.37 billion, a price-to-earnings ratio of 49.05, a P/E/G ratio of 3.93 and a beta of 0.61.

In related news, Chairman C James Koch sold 7,000 shares of Boston Beer stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $378.52, for a total value of $2,649,640.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last 90 days, insiders have sold 71,000 shares of company stock valued at $27,901,780. 28.40% of the stock is currently owned by company insiders.

A number of large investors have recently made changes to their positions in the business. 6 Meridian boosted its holdings in Boston Beer by 1.3% in the 2nd quarter. 6 Meridian now owns 2,038 shares of the company’s stock valued at $770,000 after purchasing an additional 27 shares during the period. Eukles Asset Management boosted its holdings in Boston Beer by 2.6% in the 2nd quarter. Eukles Asset Management now owns 1,234 shares of the company’s stock valued at $466,000 after purchasing an additional 31 shares during the period. LS Investment Advisors LLC lifted its holdings in shares of Boston Beer by 6.6% during the 3rd quarter. LS Investment Advisors LLC now owns 666 shares of the company’s stock worth $242,000 after acquiring an additional 41 shares during the last quarter. Retirement Systems of Alabama lifted its holdings in shares of Boston Beer by 0.4% during the 2nd quarter. Retirement Systems of Alabama now owns 11,377 shares of the company’s stock worth $4,298,000 after acquiring an additional 42 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its holdings in shares of Boston Beer by 1.5% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 3,468 shares of the company’s stock worth $1,310,000 after acquiring an additional 50 shares during the last quarter. 72.74% of the stock is owned by hedge funds and other institutional investors.

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.

Further Reading: G-20

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