Commerce Bank Acquires 626 Shares of The Boston Beer Company, Inc. (NYSE:SAM)

Commerce Bank lifted its holdings in shares of The Boston Beer Company, Inc. (NYSE:SAM) by 103.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 1,230 shares of the company’s stock after purchasing an additional 626 shares during the period. Commerce Bank’s holdings in Boston Beer were worth $627,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Contrarius Investment Management Ltd bought a new stake in shares of Boston Beer during the second quarter worth $3,496,000. BNP Paribas Arbitrage SA grew its holdings in shares of Boston Beer by 86.6% during the second quarter. BNP Paribas Arbitrage SA now owns 3,212 shares of the company’s stock worth $3,279,000 after purchasing an additional 1,491 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Boston Beer by 18.1% during the second quarter. BlackRock Inc. now owns 1,307,152 shares of the company’s stock worth $1,334,343,000 after purchasing an additional 200,086 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Boston Beer by 2.7% during the second quarter. Principal Financial Group Inc. now owns 32,885 shares of the company’s stock worth $33,569,000 after purchasing an additional 865 shares during the last quarter. Finally, Employees Retirement System of Texas acquired a new position in shares of Boston Beer during the second quarter valued at $2,042,000. Institutional investors own 65.46% of the company’s stock.

In other Boston Beer news, VP Quincy B. Troupe sold 843 shares of the firm’s stock in a transaction that occurred on Tuesday, December 7th. The stock was sold at an average price of $500.00, for a total value of $421,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Quincy B. Troupe sold 842 shares of the firm’s stock in a transaction that occurred on Friday, January 7th. The shares were sold at an average price of $500.00, for a total value of $421,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,188 shares of company stock valued at $14,152,068. Corporate insiders own 24.30% of the company’s stock.

Several equities analysts have recently issued reports on SAM shares. Credit Suisse Group cut their price target on Boston Beer from $935.00 to $785.00 and set an “outperform” rating on the stock in a research note on Friday. TheStreet lowered Boston Beer from a “b-” rating to a “c” rating in a research note on Monday, October 25th. Royal Bank of Canada cut their price target on Boston Beer from $661.00 to $625.00 and set an “outperform” rating on the stock in a research note on Friday. Jefferies Financial Group upgraded Boston Beer from an “underperform” rating to a “hold” rating and increased their price target for the stock from $440.00 to $535.00 in a report on Monday, December 20th. Finally, Zacks Investment Research upgraded Boston Beer from a “hold” rating to a “buy” rating and set a $543.00 price target for the company in a report on Tuesday, December 28th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $764.87.

NYSE:SAM opened at $449.33 on Friday. The company has a market cap of $5.52 billion, a PE ratio of 56.95 and a beta of 0.72. The Boston Beer Company, Inc. has a 52-week low of $428.13 and a 52-week high of $1,349.98. The stock has a 50-day simple moving average of $492.39 and a 200 day simple moving average of $591.12.

Boston Beer (NYSE:SAM) last posted its quarterly earnings data on Wednesday, October 20th. The company reported ($1.87) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $4.60 by ($6.47). The firm had revenue of $561.64 million for the quarter, compared to the consensus estimate of $496.90 million. Boston Beer had a return on equity of 17.98% and a net margin of 4.49%. During the same quarter in the previous year, the business posted $6.10 earnings per share. On average, research analysts anticipate that The Boston Beer Company, Inc. will post 16.41 EPS for the current year.

About Boston Beer

Boston Beer Co, Inc engages in the business of alcoholic beverages. Its brands include Truly Hard Seltzer, Twisted Tea, Samuel Adams, Angry Orchard, Hard Cider and Dogfish Head, and Craft Brewery. The company was founded by C. James Koch in 1984 and is headquartered in Boston, MA.

Further Reading: Market Indexes

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Institutional Ownership by Quarter for Boston Beer (NYSE:SAM)

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