Morgan Stanley Lowers Stake in Boston Beer Company Inc (NYSE:SAM)

Morgan Stanley cut its position in shares of Boston Beer Company Inc (NYSE:SAM) by 25.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,749 shares of the company’s stock after selling 6,421 shares during the quarter. Morgan Stanley owned approximately 0.15% of Boston Beer worth $7,083,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. AQR Capital Management LLC grew its holdings in shares of Boston Beer by 1.1% during the second quarter. AQR Capital Management LLC now owns 385,378 shares of the company’s stock worth $142,813,000 after buying an additional 4,039 shares in the last quarter. Paloma Partners Management Co purchased a new stake in shares of Boston Beer during the second quarter worth about $609,000. Marshall Wace North America L.P. grew its holdings in shares of Boston Beer by 4,006.0% during the second quarter. Marshall Wace North America L.P. now owns 8,212 shares of the company’s stock worth $3,102,000 after buying an additional 8,012 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Boston Beer by 17.2% during the second quarter. Invesco Ltd. now owns 248,648 shares of the company’s stock worth $93,929,000 after buying an additional 36,439 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Boston Beer by 5.4% during the second quarter. Vanguard Group Inc. now owns 1,047,234 shares of the company’s stock worth $395,604,000 after buying an additional 53,723 shares in the last quarter. Institutional investors and hedge funds own 71.89% of the company’s stock.

SAM has been the subject of a number of recent research reports. ValuEngine downgraded shares of Boston Beer from a “buy” rating to a “hold” rating in a report on Tuesday, October 1st. Credit Suisse Group lifted their price target on shares of Boston Beer from $320.00 to $375.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Royal Bank of Canada set a $346.00 price target on shares of Boston Beer and gave the stock a “hold” rating in a report on Friday, July 26th. Jefferies Financial Group downgraded shares of Boston Beer from a “hold” rating to an “underperform” rating and lowered their price target for the stock from $360.00 to $332.00 in a report on Tuesday, September 3rd. Finally, Cowen upgraded shares of Boston Beer from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $386.00 to $450.00 in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $379.84.

SAM opened at $393.56 on Friday. The company’s 50 day simple moving average is $384.43 and its 200 day simple moving average is $358.00. Boston Beer Company Inc has a 1 year low of $230.93 and a 1 year high of $444.64. The stock has a market capitalization of $4.76 billion, a PE ratio of 52.69, a P/E/G ratio of 4.28 and a beta of 0.63.

Boston Beer (NYSE:SAM) last released its earnings results on Thursday, July 25th. The company reported $2.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.83 by $0.51. Boston Beer had a net margin of 9.92% and a return on equity of 22.89%. The business had revenue of $318.40 million for the quarter, compared to analysts’ expectations of $308.49 million. During the same period last year, the company earned $1.98 earnings per share. The company’s quarterly revenue was up 16.6% on a year-over-year basis. On average, research analysts expect that Boston Beer Company Inc will post 9.05 earnings per share for the current year.

In other Boston Beer news, Chairman C James Koch sold 4,481 shares of Boston Beer stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $400.00, for a total transaction of $1,792,400.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Jean Michel Valette sold 2,500 shares of Boston Beer stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $400.00, for a total transaction of $1,000,000.00. Following the transaction, the director now directly owns 27,258 shares in the company, valued at $10,903,200. The disclosure for this sale can be found here. Insiders sold 62,000 shares of company stock worth $24,251,845 over the last three months. Corporate insiders own 28.40% of the company’s stock.

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

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