Assenagon Asset Management S.A. purchased a new stake in Boston Beer Company Inc (NYSE:SAM) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 5,506 shares of the company’s stock, valued at approximately $1,583,000.
Several other hedge funds also recently modified their holdings of the company. Amalgamated Bank increased its stake in shares of Boston Beer by 14.0% in the second quarter. Amalgamated Bank now owns 1,376 shares of the company’s stock valued at $412,000 after buying an additional 169 shares during the period. Victory Capital Management Inc. increased its stake in shares of Boston Beer by 16.0% in the second quarter. Victory Capital Management Inc. now owns 1,631 shares of the company’s stock valued at $489,000 after buying an additional 225 shares during the period. Russell Investments Group Ltd. increased its stake in shares of Boston Beer by 3.1% in the second quarter. Russell Investments Group Ltd. now owns 8,975 shares of the company’s stock valued at $2,688,000 after buying an additional 270 shares during the period. Vident Investment Advisory LLC increased its stake in shares of Boston Beer by 1.5% in the second quarter. Vident Investment Advisory LLC now owns 18,677 shares of the company’s stock valued at $5,597,000 after buying an additional 279 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Boston Beer by 69.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 731 shares of the company’s stock valued at $219,000 after buying an additional 300 shares during the period. 71.90% of the stock is owned by institutional investors.
Several equities research analysts have recently weighed in on SAM shares. ValuEngine cut Boston Beer from a “buy” rating to a “hold” rating in a research note on Saturday, July 28th. Macquarie cut Boston Beer from a “neutral” rating to an “underperform” rating and set a $225.00 target price for the company. in a research note on Wednesday, July 25th. They noted that the move was a valuation call. Zacks Investment Research raised Boston Beer from a “sell” rating to a “hold” rating in a research note on Monday, October 1st. Guggenheim assumed coverage on Boston Beer in a research note on Thursday, September 13th. They set a “buy” rating and a $381.00 target price for the company. Finally, BMO Capital Markets decreased their target price on Boston Beer to $260.00 and set a “market perform” rating for the company in a research note on Friday, July 27th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $264.85.
NYSE SAM opened at $315.37 on Friday. Boston Beer Company Inc has a one year low of $160.40 and a one year high of $329.95. The company has a market cap of $3.46 billion, a P/E ratio of 52.47, a price-to-earnings-growth ratio of 4.03 and a beta of 0.56.
Boston Beer (NYSE:SAM) last released its earnings results on Thursday, October 25th. The company reported $3.21 EPS for the quarter, missing the consensus estimate of $3.35 by ($0.14). Boston Beer had a return on equity of 18.00% and a net margin of 10.17%. The business had revenue of $326.85 million for the quarter, compared to analyst estimates of $270.60 million. Analysts forecast that Boston Beer Company Inc will post 7.48 EPS for the current fiscal year.
In other Boston Beer news, VP Quincy B. Troupe sold 700 shares of the stock in a transaction that occurred on Tuesday, October 30th. The stock was sold at an average price of $298.80, for a total value of $209,160.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman C James Koch sold 5,000 shares of the stock in a transaction that occurred on Friday, September 21st. The stock was sold at an average price of $297.29, for a total value of $1,486,450.00. The disclosure for this sale can be found here. Insiders have sold 25,700 shares of company stock valued at $8,018,760 in the last ninety days. 29.20% of the stock is currently owned by insiders.
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Boston Beer 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 sells approximately 60 beers under the Samuel Adams brand names; 10 flavored malt beverages under the Twisted Tea brand name; 20 hard cider beverages under the Angry Orchard brand; 5 hard sparkling waters under the Truly Spiked & Sparkling brand name; and approximately 50 beers under 4 brand names.
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