Chartwell Investment Partners LLC cut its holdings in shares of Boston Beer Company Inc (NYSE:SAM) by 31.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,558 shares of the company’s stock after selling 2,570 shares during the period. Chartwell Investment Partners LLC’s holdings in Boston Beer were worth $2,983,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of SAM. Marshall Wace North America L.P. acquired a new position in shares of Boston Beer in the first quarter valued at approximately $59,000. NEXT Financial Group Inc boosted its stake in shares of Boston Beer by 14.8% during the first quarter. NEXT Financial Group Inc now owns 217 shares of the company’s stock worth $80,000 after buying an additional 28 shares during the period. Sandy Spring Bank grew its holdings in shares of Boston Beer by 681.8% during the first quarter. Sandy Spring Bank now owns 258 shares of the company’s stock worth $95,000 after buying an additional 225 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. increased its position in Boston Beer by 149.0% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,190 shares of the company’s stock valued at $170,000 after acquiring an additional 712 shares during the period. Finally, Aubrey Capital Management Ltd purchased a new stake in Boston Beer during the 1st quarter valued at approximately $186,000. 72.33% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have recently commented on the company. Cowen restated a “buy” rating and set a $650.00 price target on shares of Boston Beer in a research note on Monday, June 22nd. Royal Bank of Canada restated a “buy” rating and set a $635.00 price objective on shares of Boston Beer in a research report on Monday, July 20th. Evercore ISI started coverage on shares of Boston Beer in a report on Tuesday, July 14th. They issued an “outperform” rating and a $725.00 target price on the stock. Jefferies Financial Group reissued an “underperform” rating on shares of Boston Beer in a report on Friday, July 24th. Finally, Credit Suisse Group lifted their price objective on Boston Beer from $505.00 to $625.00 and gave the company a “neutral” rating in a report on Friday, July 24th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company. Boston Beer currently has an average rating of “Buy” and a consensus price target of $535.43.
SAM stock opened at $810.44 on Friday. The firm has a market cap of $9.90 billion, a P/E ratio of 72.75 and a beta of 0.82. The stock has a 50-day simple moving average of $609.22 and a 200-day simple moving average of $464.10. Boston Beer Company Inc has a 1 year low of $290.02 and a 1 year high of $845.70.
Boston Beer (NYSE:SAM) last posted its quarterly earnings results on Thursday, July 23rd. The company reported $4.88 EPS for the quarter, topping the Zacks’ consensus estimate of $2.20 by $2.68. Boston Beer had a return on equity of 17.51% and a net margin of 9.18%. The business had revenue of $452.14 million during the quarter, compared to the consensus estimate of $418.75 million. As a group, research analysts expect that Boston Beer Company Inc will post 12.45 EPS for the current fiscal year.
In other news, insider Samuel A. Calagione III sold 18,754 shares of the business’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $799.02, for a total transaction of $14,984,821.08. Following the completion of the transaction, the insider now owns 6,141 shares of the company’s stock, valued at $4,906,781.82. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Cynthia A. Fisher sold 1,354 shares of the stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $492.49, for a total transaction of $666,831.46. Following the completion of the sale, the director now directly owns 401 shares in the company, valued at approximately $197,488.49. The disclosure for this sale can be found here. Insiders have sold 62,934 shares of company stock valued at $38,273,965 over the last ninety days. Corporate insiders own 29.10% of the company’s stock.
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 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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