Wedge Capital Management L L P NC Takes Position in The Boston Beer Company, Inc. (NYSE:SAM)

Wedge Capital Management L L P NC acquired a new stake in The Boston Beer Company, Inc. (NYSE:SAM) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 2,923 shares of the company’s stock, valued at approximately $1,010,000.

Several other hedge funds and other institutional investors have also modified their holdings of SAM. Wellington Management Group LLP raised its holdings in shares of Boston Beer by 26.5% during the 3rd quarter. Wellington Management Group LLP now owns 66,548 shares of the company’s stock valued at $25,922,000 after buying an additional 13,951 shares during the period. International Assets Investment Management LLC purchased a new stake in shares of Boston Beer during the 4th quarter valued at about $64,490,000. AQR Capital Management LLC raised its holdings in shares of Boston Beer by 65.9% during the 3rd quarter. AQR Capital Management LLC now owns 115,411 shares of the company’s stock valued at $44,433,000 after buying an additional 45,864 shares during the period. Northern Trust Corp raised its holdings in shares of Boston Beer by 1.9% during the 3rd quarter. Northern Trust Corp now owns 70,324 shares of the company’s stock valued at $27,393,000 after buying an additional 1,315 shares during the period. Finally, iA Global Asset Management Inc. purchased a new stake in shares of Boston Beer during the 3rd quarter valued at about $6,627,000. 81.13% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Boston Beer

In related news, insider Carolyn L. O’boyle sold 102 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $350.72, for a total transaction of $35,773.44. Following the completion of the sale, the insider now owns 2,630 shares in the company, valued at approximately $922,393.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Carolyn L. O’boyle sold 102 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $350.72, for a total transaction of $35,773.44. Following the completion of the sale, the insider now owns 2,630 shares in the company, valued at approximately $922,393.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Carolyn L. O’boyle sold 101 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $303.49, for a total value of $30,652.49. Following the completion of the transaction, the insider now directly owns 7,029 shares of the company’s stock, valued at approximately $2,133,231.21. The disclosure for this sale can be found here. 23.30% of the stock is owned by corporate insiders.

Boston Beer Stock Performance

SAM opened at $287.22 on Friday. The company has a market cap of $3.45 billion, a PE ratio of 46.33, a price-to-earnings-growth ratio of 1.20 and a beta of 1.02. The stock has a 50-day moving average of $306.46 and a 200-day moving average of $334.48. The Boston Beer Company, Inc. has a 52-week low of $274.78 and a 52-week high of $395.52.

Boston Beer (NYSE:SAM) last announced its earnings results on Thursday, April 25th. The company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.96. Boston Beer had a return on equity of 8.13% and a net margin of 3.61%. The firm had revenue of $426.05 million during the quarter, compared to the consensus estimate of $414.18 million. On average, research analysts predict that The Boston Beer Company, Inc. will post 9.9 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Roth Mkm raised their target price on Boston Beer from $406.00 to $422.00 and gave the company a “buy” rating in a report on Tuesday, January 23rd. Citigroup dropped their price objective on Boston Beer from $350.00 to $315.00 and set a “neutral” rating on the stock in a report on Tuesday, April 16th. The Goldman Sachs Group dropped their price objective on Boston Beer from $257.00 to $250.00 and set a “sell” rating on the stock in a report on Tuesday, April 9th. Sanford C. Bernstein upgraded Boston Beer from an “underperform” rating to a “market perform” rating and lifted their price objective for the stock from $280.00 to $335.00 in a report on Tuesday, January 16th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $337.00 price target on shares of Boston Beer in a report on Wednesday, February 28th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Boston Beer presently has a consensus rating of “Hold” and an average price target of $334.86.

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