Bank of New York Mellon Corp raised its stake in shares of The Boston Beer Company, Inc. (NYSE:SAM – Get Rating) by 5.4% in the first quarter, HoldingsChannel reports. The institutional investor owned 129,807 shares of the company's stock after acquiring an additional 6,637 shares during the period. Bank of New York Mellon Corp's holdings in Boston Beer were worth $50,427,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in the stock. Champlain Investment Partners LLC grew its holdings in Boston Beer by 11.9% during the 4th quarter. Champlain Investment Partners LLC now owns 250,990 shares of the company's stock valued at $126,775,000 after buying an additional 26,610 shares in the last quarter. Fisher Asset Management LLC boosted its position in shares of Boston Beer by 13.1% during the 1st quarter. Fisher Asset Management LLC now owns 132,646 shares of the company's stock valued at $51,529,000 after acquiring an additional 15,359 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Boston Beer by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 115,699 shares of the company's stock valued at $58,439,000 after acquiring an additional 1,465 shares during the last quarter. Candlestick Capital Management LP bought a new position in shares of Boston Beer during the 4th quarter valued at approximately $54,298,000. Finally, TD Asset Management Inc. boosted its position in shares of Boston Beer by 3.2% during the 1st quarter. TD Asset Management Inc. now owns 80,674 shares of the company's stock valued at $31,339,000 after acquiring an additional 2,509 shares during the last quarter. 70.32% of the stock is owned by hedge funds and other institutional investors.
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Insider Buying and Selling
In other news, insider Carolyn L. O'boyle sold 251 shares of the business's stock in a transaction on Wednesday, August 3rd. The stock was 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 of the company's stock, valued at $989,825.89. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, VP David L. Grinnell sold 425 shares of the business's stock in a transaction 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 completion of the transaction, the vice president now directly owns 1,611 shares of the company's stock, valued at $491,306.67. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Carolyn L. O'boyle sold 251 shares of the business's stock in a transaction on Wednesday, August 3rd. The stock was 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 of the company's stock, valued at $989,825.89. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,101 shares of company stock valued at $386,892. 23.30% of the stock is owned by insiders.
Analysts Set New Price Targets
A number of research firms have recently commented on SAM. Deutsche Bank Aktiengesellschaft lowered their target price on Boston Beer from $337.00 to $296.00 and set a "hold" rating for the company in a research report on Wednesday, July 13th. MKM Partners decreased their target price on Boston Beer from $334.00 to $279.00 and set a "neutral" rating for the company in a report on Friday, July 22nd. Credit Suisse Group decreased their price target on Boston Beer from $400.00 to $385.00 and set an "outperform" rating for the company in a report on Friday, July 22nd. Royal Bank of Canada decreased their price target on Boston Beer from $331.00 to $314.00 in a report on Friday, July 22nd. Finally, UBS Group downgraded Boston Beer from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $600.00 to $328.00 in a research note on Tuesday, June 21st. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $383.29.
Boston Beer Price Performance
Boston Beer stock opened at $330.80 on Monday. The stock's 50 day moving average price is $348.97 and its 200 day moving average price is $357.17. The company has a market cap of $4.06 billion, a PE ratio of -68.49 and a beta of 0.95. The Boston Beer Company, Inc. has a 1-year low of $287.00 and a 1-year high of $569.39.
Boston Beer (NYSE:SAM – Get Rating) last issued its quarterly earnings data on Thursday, July 21st. The company reported $4.31 earnings per share (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 firm earned $4.72 EPS. On average, equities research analysts anticipate that The Boston Beer Company, Inc. will post 8.22 EPS for the current fiscal year.
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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Want to see what other hedge funds are holding SAM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Boston Beer Company, Inc. (NYSE:SAM – Get Rating).
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