Raymond James & Associates increased its holdings in shares of The Boston Beer Company, Inc. (NYSE:SAM – Get Rating) by 10.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,719 shares of the company's stock after purchasing an additional 1,469 shares during the quarter. Raymond James & Associates' holdings in Boston Beer were worth $6,106,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Meeder Asset Management Inc. grew its position in Boston Beer by 166.7% in the 1st quarter. Meeder Asset Management Inc. now owns 72 shares of the company's stock valued at $28,000 after acquiring an additional 45 shares in the last quarter. Cornerstone Advisory LLC acquired a new position in Boston Beer in the 4th quarter valued at about $30,000. MCF Advisors LLC acquired a new position in Boston Beer in the 1st quarter valued at about $61,000. Prospera Financial Services Inc acquired a new position in Boston Beer in the 1st quarter valued at about $75,000. Finally, Newbridge Financial Services Group Inc. grew its position in Boston Beer by 1,333.3% in the 1st quarter. Newbridge Financial Services Group Inc. now owns 215 shares of the company's stock valued at $84,000 after acquiring an additional 200 shares in the last quarter. 70.32% of the stock is owned by institutional investors and hedge funds.
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Analyst Upgrades and Downgrades
Several research firms have weighed in on SAM. TheStreet raised Boston Beer from a "d+" rating to a "c" rating in a research report on Friday, July 22nd. Deutsche Bank Aktiengesellschaft decreased their price objective on Boston Beer from $337.00 to $296.00 and set a "hold" rating for the company in a research note on Wednesday, July 13th. Royal Bank of Canada decreased their price objective on Boston Beer from $331.00 to $314.00 in a research note on Friday, July 22nd. Sanford C. Bernstein decreased their price objective on Boston Beer to $320.00 in a research note on Friday, July 22nd. Finally, Redburn Partners began coverage on Boston Beer in a research note on Wednesday, July 13th. They issued a "sell" rating for the company. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, Boston Beer currently has a consensus rating of "Hold" and a consensus price target of $383.29.
Boston Beer Stock Down 1.9 %
SAM opened at $330.80 on Monday. The firm has a market cap of $4.06 billion, a price-to-earnings ratio of -68.49 and a beta of 0.95. The Boston Beer Company, Inc. has a 52 week low of $287.00 and a 52 week high of $569.39. The business's 50 day moving average is $348.97 and its two-hundred day moving average is $357.17.
Boston Beer (NYSE:SAM – Get Rating) last released its quarterly earnings results on Thursday, July 21st. The company reported $4.31 EPS for the quarter, missing the consensus estimate of $5.23 by ($0.92). Boston Beer had a positive return on equity of 8.60% and a negative net margin of 2.91%. During the same period last year, the business posted $4.72 EPS. Equities analysts expect that The Boston Beer Company, Inc. will post 8.22 EPS for the current fiscal year.
Insiders Place Their Bets
In other Boston Beer news, insider Carolyn L. O'boyle sold 251 shares of Boston Beer stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $381.73, for a total transaction of $95,814.23. Following the transaction, the insider now owns 2,593 shares of the company's stock, valued at $989,825.89. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, VP David L. Grinnell sold 425 shares of the business's stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $304.97, for a total value of $129,612.25. Following the transaction, the vice president now owns 1,611 shares of the company's stock, valued at $491,306.67. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Carolyn L. O'boyle sold 251 shares of the business's stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $381.73, for a total value of $95,814.23. Following the completion of the transaction, the insider now directly owns 2,593 shares in the company, valued at approximately $989,825.89. The disclosure for this sale can be found here. Insiders have sold a total of 1,101 shares of company stock valued at $386,892 over the last quarter. Company insiders own 23.30% of the company's stock.
Boston Beer Company Profile
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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, Truly Hard Seltzer, Angry Orchard, Dogfish Head, Angel City, Coney Island, Concrete Beach brand names.
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