Credit Suisse AG lessened its holdings in Boston Beer Company Inc (NYSE:SAM) by 2.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,558 shares of the company’s stock after selling 383 shares during the quarter. Credit Suisse AG owned 0.13% of Boston Beer worth $4,186,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in the business. Macquarie Group Ltd. grew its holdings in shares of Boston Beer by 30,313.3% in the 2nd quarter. Macquarie Group Ltd. now owns 182,480 shares of the company’s stock worth $54,689,000 after purchasing an additional 181,880 shares during the last quarter. MERIAN GLOBAL INVESTORS UK Ltd grew its holdings in shares of Boston Beer by 39.1% in the 3rd quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 179,484 shares of the company’s stock worth $51,601,000 after purchasing an additional 50,418 shares during the last quarter. Sandler Capital Management bought a new stake in shares of Boston Beer in the 2nd quarter worth about $13,487,000. BlackRock Inc. grew its holdings in shares of Boston Beer by 4.3% in the 2nd quarter. BlackRock Inc. now owns 942,356 shares of the company’s stock worth $282,424,000 after purchasing an additional 38,908 shares during the last quarter. Finally, WINTON GROUP Ltd grew its holdings in shares of Boston Beer by 167.1% in the 3rd quarter. WINTON GROUP Ltd now owns 58,259 shares of the company’s stock worth $16,749,000 after purchasing an additional 36,444 shares during the last quarter. 74.47% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:SAM opened at $264.72 on Tuesday. Boston Beer Company Inc has a 12 month low of $160.40 and a 12 month high of $329.95. The stock has a market cap of $3.09 billion, a price-to-earnings ratio of 44.05, a P/E/G ratio of 3.60 and a beta of 0.52.
Boston Beer (NYSE:SAM) last issued its quarterly earnings data on Thursday, October 25th. The company reported $3.21 EPS for the quarter, missing analysts’ consensus estimates of $3.35 by ($0.14). Boston Beer had a return on equity of 18.00% and a net margin of 10.17%. The company had revenue of $326.85 million for the quarter, compared to the consensus estimate of $270.60 million. On average, equities analysts forecast that Boston Beer Company Inc will post 7.48 earnings per share for the current year.
In other Boston Beer news, Chairman C James Koch sold 183 shares of the company’s stock in a transaction dated Tuesday, December 11th. The shares were sold at an average price of $275.00, for a total transaction of $50,325.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Quincy B. Troupe sold 700 shares of the company’s stock in a transaction dated Tuesday, October 30th. The shares were sold at an average price of $298.80, for a total transaction of $209,160.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,317 shares of company stock worth $7,027,789. Insiders own 29.20% of the company’s stock.
Several research firms have recently weighed in on SAM. UBS Group began coverage on shares of Boston Beer in a report on Thursday, December 13th. They issued a “sell” rating and a $228.00 target price on the stock. ValuEngine raised shares of Boston Beer from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 31st. Citigroup increased their price objective on shares of Boston Beer from $285.00 to $290.00 and gave the stock a “hold” rating in a report on Monday, October 29th. Jefferies Financial Group reissued a “hold” rating and set a $270.00 price objective on shares of Boston Beer in a report on Friday, October 26th. Finally, Zacks Investment Research raised shares of Boston Beer from a “sell” rating to a “hold” rating in a report on Monday, October 1st. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $268.31.
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 sells approximately 60 beers under the Samuel Adams brand names; 10 flavored malt beverages under the Twisted Tea brand name; 20 hard cider beverages under the Angry Orchard brand; 5 hard sparkling waters under the Truly Spiked & Sparkling brand name; and approximately 50 beers under 4 brand names.
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