Rhumbline Advisers cut its position in Boston Beer Company Inc (NYSE:SAM) by 3.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,138 shares of the company’s stock after selling 711 shares during the quarter. Rhumbline Advisers owned 0.16% of Boston Beer worth $5,215,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of SAM. Macquarie Group Ltd. raised its position in shares of Boston Beer by 30,313.3% during the second quarter. Macquarie Group Ltd. now owns 182,480 shares of the company’s stock worth $54,689,000 after acquiring an additional 181,880 shares during the last quarter. MERIAN GLOBAL INVESTORS UK Ltd raised its position in shares of Boston Beer by 39.1% during the third quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 179,484 shares of the company’s stock worth $51,601,000 after acquiring an additional 50,418 shares during the last quarter. Sandler Capital Management bought a new position in shares of Boston Beer during the second quarter worth about $13,487,000. BlackRock Inc. raised its position in shares of Boston Beer by 4.3% during the second quarter. BlackRock Inc. now owns 942,356 shares of the company’s stock worth $282,424,000 after acquiring an additional 38,908 shares during the last quarter. Finally, WINTON GROUP Ltd raised its position in shares of Boston Beer by 167.1% during the third quarter. WINTON GROUP Ltd now owns 58,259 shares of the company’s stock worth $16,749,000 after acquiring an additional 36,444 shares during the last quarter. Hedge funds and other institutional investors own 74.49% of the company’s stock.
In related news, VP Quincy B. Troupe sold 700 shares of the firm’s stock in a transaction that occurred on Tuesday, October 30th. The stock was sold at an average price of $298.80, for a total transaction of $209,160.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman C James Koch sold 683 shares of the firm’s stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $275.00, for a total value of $187,825.00. The disclosure for this sale can be found here. Insiders have sold 35,700 shares of company stock valued at $10,801,835 in the last ninety days. 29.20% of the stock is currently owned by insiders.
A number of equities analysts have recently issued reports on SAM shares. Zacks Investment Research downgraded Boston Beer from a “buy” rating to a “hold” rating in a research report on Monday, September 10th. Berenberg Bank set a $290.00 price objective on Boston Beer and gave the stock a “hold” rating in a research report on Tuesday, September 11th. Guggenheim started coverage on Boston Beer in a research report on Thursday, September 13th. They set a “buy” rating and a $381.00 price objective for the company. Jefferies Financial Group restated a “hold” rating and set a $270.00 price objective on shares of Boston Beer in a research report on Friday, October 26th. Finally, Citigroup raised their price objective on Boston Beer from $285.00 to $290.00 and gave the stock a “hold” rating in a research report on Monday, October 29th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $271.67.
NYSE SAM opened at $273.19 on Friday. Boston Beer Company Inc has a one year low of $160.40 and a one year high of $329.95. The company has a market cap of $3.14 billion, a P/E ratio of 45.46, a price-to-earnings-growth ratio of 3.66 and a beta of 0.51.
Boston Beer (NYSE:SAM) last released its earnings results on Thursday, October 25th. The company reported $3.21 EPS for the quarter, missing the consensus estimate of $3.35 by ($0.14). Boston Beer had a return on equity of 18.00% and a net margin of 10.17%. The business had revenue of $326.85 million for the quarter, compared to analyst estimates of $270.60 million. Analysts forecast that Boston Beer Company Inc will post 7.48 EPS for the current fiscal year.
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About Boston Beer
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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