The Boston Beer Company, Inc. $SAM Shares Acquired by Skylands Capital LLC

Skylands Capital LLC raised its stake in shares of The Boston Beer Company, Inc. (NYSE:SAM) by 434.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,216 shares of the company’s stock after acquiring an additional 9,116 shares during the period. Skylands Capital LLC’s holdings in Boston Beer were worth $1,840,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Quantinno Capital Management LP grew its stake in shares of Boston Beer by 155.2% in the 1st quarter. Quantinno Capital Management LP now owns 230,587 shares of the company’s stock worth $53,127,000 after acquiring an additional 140,247 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Boston Beer by 6.1% in the first quarter. Dimensional Fund Advisors LP now owns 273,612 shares of the company’s stock valued at $63,040,000 after purchasing an additional 15,611 shares during the last quarter. First Trust Advisors LP raised its holdings in shares of Boston Beer by 34.8% in the first quarter. First Trust Advisors LP now owns 51,675 shares of the company’s stock valued at $11,906,000 after purchasing an additional 13,348 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Boston Beer by 13.4% during the first quarter. Renaissance Technologies LLC now owns 93,779 shares of the company’s stock valued at $21,607,000 after purchasing an additional 11,100 shares in the last quarter. Finally, Royal Bank of Canada lifted its position in shares of Boston Beer by 136.5% during the first quarter. Royal Bank of Canada now owns 19,081 shares of the company’s stock valued at $4,395,000 after purchasing an additional 11,012 shares in the last quarter. 81.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SAM. Deutsche Bank Aktiengesellschaft set a $176.00 price target on shares of Boston Beer in a report on Friday, July 24th. Weiss Ratings reiterated a “sell (d)” rating on shares of Boston Beer in a research note on Monday, August 3rd. Roth Capital reissued a “buy” rating and set a $295.00 target price (down from $315.00) on shares of Boston Beer in a research report on Friday, July 24th. UBS Group restated a “neutral” rating on shares of Boston Beer in a research note on Friday, October 16th. Finally, Royal Bank Of Canada cut their target price on Boston Beer from $210.00 to $190.00 and set a “sector perform” rating on the stock in a research note on Tuesday, October 6th. One research analyst has rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $205.09.

Boston Beer Price Performance

Shares of NYSE:SAM opened at $181.80 on Thursday. The Boston Beer Company, Inc. has a 1 year low of $158.68 and a 1 year high of $264.46. The company has a market capitalization of $1.89 billion, a PE ratio of -26.78 and a beta of 0.82. The business has a fifty day moving average price of $174.67 and a two-hundred day moving average price of $187.34.

Boston Beer (NYSE:SAM) last released its earnings results on Thursday, July 23rd. The company reported $3.65 EPS for the quarter, missing analysts’ consensus estimates of $4.83 by ($1.18). The business had revenue of $568.34 million for the quarter, compared to the consensus estimate of $566.68 million. Boston Beer had a positive return on equity of 9.99% and a negative net margin of 3.42%. The company’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $5.45 earnings per share. Sell-side analysts anticipate that The Boston Beer Company, Inc. will post 8.99 earnings per share for the current year.

About Boston Beer

Boston Beer Company, Inc is an American beverage company that develops, produces, and sells alcoholic beverages. The company is best known for its Samuel Adams craft beer brand, which includes Boston Lager and a range of seasonal, specialty, and limited-release beers.

Its portfolio also includes Twisted Tea hard iced tea, Truly Hard Seltzer, Angry Orchard hard cider, and beverages associated with Dogfish Head, which Boston Beer acquired in 2019. The company offers products across several categories, including beer, flavored malt beverages, hard seltzer, and hard cider, with offerings distributed primarily through wholesalers, retailers, restaurants, and other on-premise establishments.

Founded in 1984 by Jim Koch, Boston Beer helped expand the U.S.