Napatree Capital LLC Takes $500,000 Position in The Boston Beer Company, Inc. (NYSE:SAM)

Napatree Capital LLC bought a new position in shares of The Boston Beer Company, Inc. (NYSE:SAMFree Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,447 shares of the company’s stock, valued at approximately $500,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Envestnet Portfolio Solutions Inc. increased its position in Boston Beer by 5.7% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 609 shares of the company’s stock worth $210,000 after buying an additional 33 shares during the period. CWM LLC increased its position in Boston Beer by 17.6% during the fourth quarter. CWM LLC now owns 227 shares of the company’s stock worth $78,000 after acquiring an additional 34 shares during the period. Cardinal Capital Management raised its stake in Boston Beer by 1.3% in the 4th quarter. Cardinal Capital Management now owns 2,784 shares of the company’s stock worth $962,000 after purchasing an additional 36 shares in the last quarter. Covestor Ltd boosted its holdings in Boston Beer by 88.4% in the 3rd quarter. Covestor Ltd now owns 81 shares of the company’s stock valued at $32,000 after purchasing an additional 38 shares during the period. Finally, Treasurer of the State of North Carolina grew its position in shares of Boston Beer by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 4,167 shares of the company’s stock worth $1,440,000 after purchasing an additional 40 shares in the last quarter. Institutional investors own 81.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on SAM shares. Jefferies Financial Group upgraded shares of Boston Beer from a “hold” rating to a “buy” rating and lifted their price target for the company from $335.00 to $360.00 in a research report on Tuesday, May 14th. Evercore ISI lifted their price objective on Boston Beer from $310.00 to $325.00 and gave the company an “in-line” rating in a report on Friday, April 26th. Morgan Stanley raised Boston Beer from an “underweight” rating to an “equal weight” rating and set a $290.00 target price on the stock in a report on Wednesday, June 5th. Deutsche Bank Aktiengesellschaft raised Boston Beer from a “sell” rating to a “hold” rating and set a $273.00 price target for the company in a research note on Wednesday, May 8th. Finally, Piper Sandler started coverage on shares of Boston Beer in a research note on Friday, March 22nd. They set an “overweight” rating and a $350.00 price objective on the stock. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $335.00.

Check Out Our Latest Report on Boston Beer

Insider Activity

In other Boston Beer news, insider Carolyn L. O’boyle sold 101 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $303.49, for a total transaction of $30,652.49. Following the sale, the insider now directly owns 7,029 shares of the company’s stock, valued at approximately $2,133,231.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 24.00% of the company’s stock.

Boston Beer Price Performance

Shares of NYSE:SAM opened at $289.04 on Tuesday. The firm has a 50 day simple moving average of $282.42 and a 200 day simple moving average of $316.62. The company has a market cap of $3.45 billion, a price-to-earnings ratio of 36.55, a PEG ratio of 1.07 and a beta of 1.09. The Boston Beer Company, Inc. has a one year low of $254.40 and a one year high of $395.52.

Boston Beer (NYSE:SAMGet Free Report) last announced its quarterly earnings results on Thursday, April 25th. The company reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.96. The company had revenue of $426.05 million during the quarter, compared to analysts’ expectations of $414.18 million. Boston Beer had a return on equity of 10.11% and a net margin of 4.60%. As a group, analysts expect that The Boston Beer Company, Inc. will post 10.25 EPS for the current year.

Boston Beer Company Profile

(Free Report)

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, flavored malt beverages, and hard seltzers under the Samuel Adams, Twisted Tea, Truly, Angry Orchard, Dogfish Head, Angel City, and Coney Island brand names.

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Institutional Ownership by Quarter for Boston Beer (NYSE:SAM)

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