Healthcare of Ontario Pension Plan Trust Fund reduced its stake in The Boston Beer Company, Inc. (NYSE:SAM) by 9.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,615 shares of the company’s stock after selling 914 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.07% of The Boston Beer worth $8,566,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of SAM. Greenleaf Trust boosted its stake in The Boston Beer by 1.2% during the fourth quarter. Greenleaf Trust now owns 899 shares of the company’s stock worth $894,000 after buying an additional 11 shares during the period. Advisory Services Network LLC boosted its position in shares of The Boston Beer by 12.2% during the 4th quarter. Advisory Services Network LLC now owns 147 shares of the company’s stock worth $146,000 after purchasing an additional 16 shares during the period. Xponance Inc. increased its holdings in The Boston Beer by 0.9% in the 4th quarter. Xponance Inc. now owns 1,887 shares of the company’s stock valued at $1,876,000 after purchasing an additional 17 shares during the last quarter. Cardinal Capital Management raised its position in The Boston Beer by 1.1% in the fourth quarter. Cardinal Capital Management now owns 1,763 shares of the company’s stock valued at $1,753,000 after purchasing an additional 19 shares during the period. Finally, Shilanski & Associates Inc. lifted its stake in The Boston Beer by 1.6% during the fourth quarter. Shilanski & Associates Inc. now owns 1,273 shares of the company’s stock worth $1,266,000 after purchasing an additional 20 shares in the last quarter. 68.82% of the stock is currently owned by institutional investors.
Shares of SAM opened at $1,235.34 on Thursday. The firm has a market capitalization of $15.15 billion, a price-to-earnings ratio of 88.24 and a beta of 0.76. The firm’s fifty day simple moving average is $1,108.53 and its 200-day simple moving average is $1,003.06. The Boston Beer Company, Inc. has a twelve month low of $365.78 and a twelve month high of $1,256.04.
The Boston Beer (NYSE:SAM) last posted its quarterly earnings results on Tuesday, February 16th. The company reported $2.64 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.63 by $0.01. The Boston Beer had a return on equity of 20.36% and a net margin of 10.77%. The company had revenue of $460.94 million for the quarter, compared to analysts’ expectations of $455.95 million. Equities research analysts expect that The Boston Beer Company, Inc. will post 15.34 EPS for the current year.
Several equities research analysts recently issued reports on the company. Cowen downgraded The Boston Beer from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $1,250.00 to $1,000.00 in a report on Wednesday, January 13th. Morgan Stanley initiated coverage on The Boston Beer in a research report on Monday, March 8th. They issued an “overweight” rating and a $1,400.00 target price for the company. Evercore ISI increased their price target on shares of The Boston Beer from $1,150.00 to $1,300.00 and gave the stock an “outperform” rating in a research report on Thursday, February 25th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of The Boston Beer from $996.00 to $1,002.00 and gave the company a “hold” rating in a research note on Thursday, February 25th. Finally, Guggenheim increased their target price on shares of The Boston Beer from $1,379.00 to $1,400.00 and gave the stock a “buy” rating in a report on Monday, February 8th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $1,045.46.
In other news, VP Quincy B. Troupe sold 2,721 shares of The Boston Beer stock in a transaction dated Tuesday, February 23rd. The stock was sold at an average price of $999.91, for a total transaction of $2,720,755.11. Also, Director Jean Michel Valette sold 4,000 shares of the company’s stock in a transaction dated Monday, April 5th. The shares were sold at an average price of $1,189.09, for a total value of $4,756,360.00. Following the completion of the sale, the director now directly owns 12,500 shares of the company’s stock, valued at $14,863,625. The disclosure for this sale can be found here. Insiders sold 7,810 shares of company stock worth $8,773,689 over the last quarter. 29.10% of the stock is currently owned by insiders.
The 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, Truly Hard Seltzer, Angry Orchard, Dogfish Head, Angel City, Coney Island, Concrete Beach brand names.
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