Man Group plc decreased its holdings in shares of Boston Beer Company Inc (NYSE:SAM) by 40.6% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 48,013 shares of the company’s stock after selling 32,797 shares during the quarter. Man Group plc owned 0.40% of Boston Beer worth $17,481,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in SAM. Tower Research Capital LLC TRC bought a new stake in shares of Boston Beer during the 2nd quarter worth approximately $35,000. Golden State Wealth Management LLC boosted its holdings in Boston Beer by 910.0% during the 3rd quarter. Golden State Wealth Management LLC now owns 101 shares of the company’s stock valued at $37,000 after acquiring an additional 91 shares during the period. HM Payson & Co. purchased a new position in Boston Beer during the 2nd quarter valued at $38,000. Marshall Wace North America L.P. bought a new position in Boston Beer in the 1st quarter valued at $59,000. Finally, NEXT Financial Group Inc grew its position in Boston Beer by 119.0% in the 2nd quarter. NEXT Financial Group Inc now owns 184 shares of the company’s stock valued at $70,000 after acquiring an additional 100 shares during the last quarter. 73.43% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have recently weighed in on the company. BMO Capital Markets lifted their target price on Boston Beer to $425.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. They noted that the move was a valuation call. Macquarie set a $460.00 price target on shares of Boston Beer and gave the stock a “buy” rating in a report on Tuesday, October 15th. Cowen raised shares of Boston Beer from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $386.00 to $450.00 in a research note on Thursday, October 17th. Deutsche Bank started coverage on shares of Boston Beer in a research note on Friday, September 27th. They issued a “hold” rating and a $380.00 price target on the stock. Finally, Citigroup upgraded shares of Boston Beer from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $394.00 to $448.00 in a report on Friday, October 11th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company’s stock. Boston Beer currently has a consensus rating of “Hold” and a consensus target price of $379.99.
SAM stock opened at $373.12 on Tuesday. Boston Beer Company Inc has a 1-year low of $230.93 and a 1-year high of $444.64. The business has a 50-day moving average price of $377.77 and a 200 day moving average price of $375.92. The company has a market capitalization of $4.62 billion, a P/E ratio of 49.95, a PEG ratio of 4.17 and a beta of 0.60.
Boston Beer (NYSE:SAM) last issued its earnings results on Tuesday, October 29th. The company reported $3.58 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.79 by $0.79. The company had revenue of $378.47 million for the quarter, compared to analysts’ expectations of $364.66 million. Boston Beer had a net margin of 10.06% and a return on equity of 20.99%. On average, analysts predict that Boston Beer Company Inc will post 9.22 EPS for the current year.
In other news, Chairman C James Koch sold 7,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $378.52, for a total value of $2,649,640.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 71,000 shares of company stock valued at $27,901,780 in the last ninety days. Corporate insiders own 28.40% of the company’s stock.
Boston Beer 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, and hard seltzers under the Samuel Adams, Twisted Tea, Angry Orchard Hard Cider, and Truly Hard Seltzer brand names.
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