Oppenheimer & Co. Inc. bought a new position in Boston Beer Company Inc (NYSE:SAM) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 746 shares of the company’s stock, valued at approximately $282,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Wells Fargo & Company MN lifted its holdings in Boston Beer by 149.5% during the 2nd quarter. Wells Fargo & Company MN now owns 69,210 shares of the company’s stock valued at $26,146,000 after buying an additional 41,470 shares in the last quarter. Landscape Capital Management L.L.C. bought a new stake in Boston Beer during the 2nd quarter valued at about $11,010,000. FMR LLC lifted its holdings in Boston Beer by 29.0% during the 1st quarter. FMR LLC now owns 90,102 shares of the company’s stock valued at $26,555,000 after buying an additional 20,259 shares in the last quarter. BlackRock Inc. lifted its holdings in Boston Beer by 1.9% during the 1st quarter. BlackRock Inc. now owns 991,265 shares of the company’s stock valued at $292,154,000 after buying an additional 18,282 shares in the last quarter. Finally, Atria Investments LLC bought a new stake in Boston Beer during the 2nd quarter valued at about $214,000. Hedge funds and other institutional investors own 72.06% of the company’s stock.
NYSE SAM traded down $6.27 during trading on Friday, reaching $386.27. 48,377 shares of the company’s stock traded hands, compared to its average volume of 195,123. The firm has a market cap of $4.71 billion, a price-to-earnings ratio of 51.71, a price-to-earnings-growth ratio of 4.25 and a beta of 0.66. The company’s 50 day simple moving average is $409.24 and its two-hundred day simple moving average is $345.58. Boston Beer Company Inc has a 12-month low of $230.93 and a 12-month high of $444.64.
Boston Beer (NYSE:SAM) last posted its earnings results on Thursday, July 25th. The company reported $2.34 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.51. The business had revenue of $318.40 million for the quarter, compared to the consensus estimate of $308.49 million. Boston Beer had a net margin of 9.92% and a return on equity of 22.89%. The company’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.98 EPS. As a group, analysts predict that Boston Beer Company Inc will post 8.92 earnings per share for the current year.
In other news, Director Jean Michel Valette sold 2,500 shares of Boston Beer stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $380.67, for a total value of $951,675.00. Following the transaction, the director now owns 27,258 shares of the company’s stock, valued at approximately $10,376,302.86. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman C James Koch sold 14,000 shares of Boston Beer stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $399.78, for a total transaction of $5,596,920.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,500 shares of company stock worth $10,376,985. Insiders own 28.40% of the company’s stock.
A number of equities research analysts recently weighed in on the stock. Credit Suisse Group lifted their price objective on shares of Boston Beer from $320.00 to $375.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Zacks Investment Research lowered shares of Boston Beer from a “strong-buy” rating to a “hold” rating and set a $415.00 price objective for the company. in a report on Wednesday, June 26th. BMO Capital Markets raised their target price on shares of Boston Beer to $350.00 and gave the company a “market perform” rating in a research report on Friday, July 26th. Macquarie raised shares of Boston Beer from a “neutral” rating to an “outperform” rating and set a $460.00 target price on the stock in a research report on Wednesday, August 7th. Finally, Jefferies Financial Group downgraded shares of Boston Beer from a “hold” rating to an “underperform” rating and cut their target price for the company from $360.00 to $332.00 in a research report on Tuesday, September 3rd. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $355.89.
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.
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