VIRGINIA RETIREMENT SYSTEMS ET Al cut its holdings in The Boston Beer Company, Inc. (NYSE:SAM – Free Report) by 74.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,288 shares of the company’s stock after selling 3,800 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Boston Beer were worth $211,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. IFP Advisors Inc increased its stake in shares of Boston Beer by 333.3% in the 2nd quarter. IFP Advisors Inc now owns 156 shares of the company’s stock worth $28,000 after acquiring an additional 120 shares in the last quarter. Plato Investment Management Ltd purchased a new position in Boston Beer during the 2nd quarter valued at about $35,000. Sterling Capital Management LLC boosted its stake in Boston Beer by 223.5% during the third quarter. Sterling Capital Management LLC now owns 220 shares of the company’s stock worth $36,000 after acquiring an additional 152 shares in the last quarter. Ascentis Independent Advisors bought a new stake in Boston Beer during the first quarter worth about $37,000. Finally, Pinnacle Wealth Planning Services Inc. grew its holdings in Boston Beer by 22,300.0% in the third quarter. Pinnacle Wealth Planning Services Inc. now owns 224 shares of the company’s stock worth $37,000 after purchasing an additional 223 shares during the period. 81.13% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
SAM has been the subject of a number of analyst reports. Citigroup raised their target price on shares of Boston Beer from $185.00 to $197.00 and gave the company a “neutral” rating in a research note on Monday, October 26th. Jefferies Financial Group reissued a “hold” rating and issued a $200.00 price target on shares of Boston Beer in a research report on Friday, October 23rd. UBS Group raised their price objective on Boston Beer from $190.00 to $204.00 and gave the company a “neutral” rating in a research report on Friday, October 23rd. Deutsche Bank Aktiengesellschaft set a $176.00 price objective on Boston Beer in a research report on Friday, July 24th. Finally, Sanford C. Bernstein reissued a “market perform” rating and issued a $195.00 target price on shares of Boston Beer in a report on Monday, July 27th. One research analyst has rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $208.82.
View Our Latest Stock Report on SAM
Boston Beer Stock Up 0.2%
NYSE:SAM opened at $221.10 on Monday. The stock has a market cap of $2.24 billion, a price-to-earnings ratio of -32.37 and a beta of 0.81. The company’s 50 day moving average price is $180.59 and its 200-day moving average price is $199.25. The Boston Beer Company, Inc. has a 52 week low of $158.68 and a 52 week high of $264.46.
Boston Beer (NYSE:SAM – Get Free Report) last announced its quarterly earnings data on Thursday, October 22nd. The company reported $4.37 earnings per share for the quarter, topping analysts’ consensus estimates of $4.21 by $0.16. The company had revenue of $520.10 million during the quarter, compared to analyst estimates of $522.95 million. Boston Beer had a negative net margin of 3.59% and a positive return on equity of 10.40%. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same period in the previous year, the business earned $4.25 EPS. As a group, sell-side analysts anticipate that The Boston Beer Company, Inc. will post 9.50 earnings per share for the current year.
Boston Beer Company Profile
Boston Beer Company, Inc is an American beverage company that develops, produces, and sells alcoholic beverages. The company is best known for its Samuel Adams craft beer brand, which includes Boston Lager and a range of seasonal, specialty, and limited-release beers.
Its portfolio also includes Twisted Tea hard iced tea, Truly Hard Seltzer, Angry Orchard hard cider, and beverages associated with Dogfish Head, which Boston Beer acquired in 2019. The company offers products across several categories, including beer, flavored malt beverages, hard seltzer, and hard cider, with offerings distributed primarily through wholesalers, retailers, restaurants, and other on-premise establishments.
Founded in 1984 by Jim Koch, Boston Beer helped expand the U.S.
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