Rhumbline Advisers lowered its holdings in shares of Boston Beer Company Inc (NYSE:SAM) by 10.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,808 shares of the company’s stock after selling 2,284 shares during the period. Rhumbline Advisers owned approximately 0.17% of Boston Beer worth $3,785,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Endurance Wealth Management Inc. acquired a new stake in Boston Beer during the fourth quarter worth approximately $134,000. Huntington National Bank grew its stake in Boston Beer by 173.9% during the fourth quarter. Huntington National Bank now owns 775 shares of the company’s stock worth $148,000 after purchasing an additional 492 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in Boston Beer during the third quarter worth approximately $203,000. Texas Yale Capital Corp. acquired a new stake in Boston Beer during the fourth quarter worth approximately $207,000. Finally, Roberts Glore & Co. Inc. IL acquired a new stake in Boston Beer during the third quarter worth approximately $211,000. 73.15% of the stock is owned by institutional investors and hedge funds.
In other Boston Beer news, VP Quincy B. Troupe sold 476 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $167.00, for a total value of $79,492.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP David L. Grinnell sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 26th. The shares were sold at an average price of $195.00, for a total value of $195,000.00. The disclosure for this sale can be found here. Insiders sold 105,459 shares of company stock valued at $19,965,416 in the last three months. Insiders own 28.50% of the company’s stock.
Boston Beer (NYSE:SAM) last announced its quarterly earnings data on Wednesday, February 21st. The company reported $0.85 EPS for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.03. Boston Beer had a return on equity of 18.55% and a net margin of 11.04%. The firm had revenue of $206.32 million during the quarter, compared to analysts’ expectations of $206.46 million. During the same quarter last year, the firm posted $1.75 earnings per share. The company’s revenue for the quarter was down 5.9% compared to the same quarter last year. equities research analysts anticipate that Boston Beer Company Inc will post 6.72 earnings per share for the current fiscal year.
SAM has been the subject of several recent analyst reports. BMO Capital Markets initiated coverage on Boston Beer in a research note on Monday, February 5th. They set a “market perform” rating and a $180.00 target price for the company. Berenberg Bank raised Boston Beer from a “sell” rating to a “hold” rating in a research note on Monday, December 18th. ValuEngine cut Boston Beer from a “hold” rating to a “sell” rating in a research note on Thursday, March 1st. Jefferies Group reaffirmed a “hold” rating and set a $175.00 target price on shares of Boston Beer in a research note on Thursday, January 4th. Finally, Macquarie raised Boston Beer from an “underperform” rating to a “neutral” rating and set a $140.00 target price for the company in a research note on Thursday, February 8th. Three investment analysts have rated the stock with a sell rating and twelve have assigned a hold rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $161.33.
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About Boston Beer
The Boston Beer Company, Inc is a craft brewer in the United States. The Company is engaged in the business of producing and selling alcohol beverages primarily in the domestic market and in selected international markets. The Company operates through two segments: Boston Beer Company segment, and A&S Brewing Collaborative segment.
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