Wells Fargo & Company MN trimmed its holdings in shares of Boston Beer Company Inc (NYSE:SAM) by 18.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 51,242 shares of the company’s stock after selling 11,665 shares during the period. Wells Fargo & Company MN owned approximately 0.44% of Boston Beer worth $8,004,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. boosted its stake in Boston Beer by 95.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 842 shares of the company’s stock valued at $111,000 after purchasing an additional 411 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Boston Beer by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 971 shares of the company’s stock valued at $128,000 after purchasing an additional 145 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in Boston Beer during the 3rd quarter valued at $203,000. Cubist Systematic Strategies LLC boosted its stake in Boston Beer by 5.1% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 1,576 shares of the company’s stock valued at $208,000 after purchasing an additional 76 shares during the last quarter. Finally, Shaker Investments LLC OH purchased a new stake in Boston Beer during the 3rd quarter valued at $209,000. Institutional investors and hedge funds own 75.83% of the company’s stock.
Boston Beer Company Inc (SAM) opened at $190.50 on Friday. The firm has a market capitalization of $2,265.56, a price-to-earnings ratio of 25.99, a P/E/G ratio of 5.50 and a beta of 0.58. Boston Beer Company Inc has a 52-week low of $128.70 and a 52-week high of $197.05.
Boston Beer (NYSE:SAM) last released its earnings results on Thursday, October 26th. The company reported $2.78 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.99 by $0.79. The company had revenue of $247.04 million for the quarter, compared to the consensus estimate of $256.73 million. Boston Beer had a return on equity of 21.11% and a net margin of 9.97%. Boston Beer’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same period in the previous year, the business earned $2.48 earnings per share. analysts expect that Boston Beer Company Inc will post 6.22 EPS for the current fiscal year.
Several brokerages have commented on SAM. Zacks Investment Research upgraded Boston Beer from a “hold” rating to a “strong-buy” rating and set a $221.00 target price on the stock in a research note on Thursday. Jefferies Group reiterated a “hold” rating and set a $175.00 target price on shares of Boston Beer in a research note on Thursday, January 4th. Berenberg Bank upgraded Boston Beer from a “sell” rating to a “hold” rating in a research note on Monday, December 18th. Stifel Nicolaus initiated coverage on Boston Beer in a research note on Tuesday, December 5th. They issued a “hold” rating and a $166.00 price target on the stock. Finally, Susquehanna Bancshares downgraded Boston Beer from a “positive” rating to a “neutral” rating and dropped their price target for the stock from $216.00 to $183.00 in a research note on Monday, November 13th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $158.55.
In related news, CMO Jonathan N. Potter sold 439 shares of Boston Beer stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $171.90, for a total transaction of $75,464.10. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP David L. Grinnell sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, December 26th. The shares were sold at an average price of $195.00, for a total value of $195,000.00. The disclosure for this sale can be found here. Insiders have sold 46,420 shares of company stock worth $8,753,757 over the last quarter. 31.30% of the stock is owned by company insiders.
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Boston Beer Profile
The Boston Beer Company, Inc is a craft brewer in the United States. The Company is engaged in the business of producing and selling alcohol beverages primarily in the domestic market and in selected international markets. The Company operates through two segments: Boston Beer Company segment, and A&S Brewing Collaborative segment.
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