Advisor Group Inc. Lowers Stake in Boston Beer Company Inc (NYSE:SAM)

Advisor Group Inc. cut its holdings in Boston Beer Company Inc (NYSE:SAM) by 16.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,802 shares of the company’s stock after selling 746 shares during the quarter. Advisor Group Inc.’s holdings in Boston Beer were worth $1,121,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. lifted its stake in shares of Boston Beer by 1.9% during the first quarter. BlackRock Inc. now owns 991,265 shares of the company’s stock valued at $292,154,000 after buying an additional 18,282 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Boston Beer by 3.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 232,710 shares of the company’s stock valued at $56,045,000 after buying an additional 6,864 shares during the period. MERIAN GLOBAL INVESTORS UK Ltd lifted its stake in shares of Boston Beer by 24.8% during the fourth quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 224,011 shares of the company’s stock valued at $53,950,000 after buying an additional 44,527 shares during the period. Geode Capital Management LLC lifted its stake in shares of Boston Beer by 4.5% during the fourth quarter. Geode Capital Management LLC now owns 120,005 shares of the company’s stock valued at $28,902,000 after buying an additional 5,179 shares during the period. Finally, Norges Bank purchased a new position in shares of Boston Beer during the fourth quarter valued at approximately $22,173,000. Institutional investors and hedge funds own 74.64% of the company’s stock.

In other Boston Beer news, VP David L. Grinnell sold 500 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $342.50, for a total transaction of $171,250.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP David L. Grinnell sold 1,000 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $331.25, for a total transaction of $331,250.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 14,605 shares of company stock worth $4,349,825. 28.40% of the stock is currently owned by insiders.

NYSE:SAM opened at $338.21 on Thursday. The company has a market cap of $3.93 billion, a price-to-earnings ratio of 45.28, a P/E/G ratio of 3.73 and a beta of 0.55. Boston Beer Company Inc has a fifty-two week low of $230.93 and a fifty-two week high of $353.02.

Boston Beer (NYSE:SAM) last posted its quarterly earnings results on Wednesday, April 24th. The company reported $1.87 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.89 by $0.98. The company had revenue of $252.00 million for the quarter, compared to the consensus estimate of $232.19 million. Boston Beer had a net margin of 9.94% and a return on equity of 23.00%. Boston Beer’s revenue was up 32.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.55 earnings per share. As a group, equities analysts expect that Boston Beer Company Inc will post 8.59 EPS for the current year.

Several equities analysts recently issued reports on SAM shares. ValuEngine downgraded shares of Boston Beer from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 21st. Citigroup set a $311.00 price objective on shares of Boston Beer and gave the company a “hold” rating in a research note on Tuesday, February 26th. Goldman Sachs Group downgraded shares of Boston Beer from a “neutral” rating to a “sell” rating and set a $275.79 price objective on the stock. in a research note on Friday, April 5th. Macquarie raised shares of Boston Beer from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $260.00 to $275.00 in a research note on Thursday, February 21st. Finally, BMO Capital Markets upped their price objective on shares of Boston Beer to $275.00 and gave the company a “market perform” rating in a research note on Thursday, February 21st. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. Boston Beer presently has an average rating of “Hold” and an average target price of $286.37.

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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 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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