Clearline Capital LP grew its holdings in shares of The Boston Beer Company, Inc. (NYSE:SAM – Get Rating) by 789.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 22,553 shares of the company's stock after purchasing an additional 20,018 shares during the period. Clearline Capital LP owned 0.18% of Boston Beer worth $8,761,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of the company. Wellington Management Group LLP grew its position in shares of Boston Beer by 119.6% during the first quarter. Wellington Management Group LLP now owns 92,524 shares of the company's stock worth $35,943,000 after acquiring an additional 50,384 shares during the last quarter. State Street Corp grew its position in shares of Boston Beer by 4.4% during the first quarter. State Street Corp now owns 251,852 shares of the company's stock worth $97,837,000 after acquiring an additional 10,704 shares during the last quarter. Quantitative Investment Management LLC bought a new position in Boston Beer in the 1st quarter valued at about $1,019,000. Logan Capital Management Inc. grew its position in Boston Beer by 1,656.9% in the 1st quarter. Logan Capital Management Inc. now owns 1,019 shares of the company's stock valued at $396,000 after buying an additional 961 shares in the last quarter. Finally, Invesco Ltd. grew its position in Boston Beer by 34.1% in the 1st quarter. Invesco Ltd. now owns 21,525 shares of the company's stock valued at $8,362,000 after buying an additional 5,471 shares in the last quarter. Institutional investors own 70.32% of the company's stock.
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Boston Beer Stock Performance
Shares of NYSE SAM traded up $0.62 during mid-day trading on Friday, reaching $342.44. The company had a trading volume of 171,334 shares, compared to its average volume of 96,880. The stock has a fifty day moving average of $350.91 and a two-hundred day moving average of $354.70. The company has a market capitalization of $4.21 billion, a price-to-earnings ratio of -70.90 and a beta of 0.97. The Boston Beer Company, Inc. has a 12-month low of $287.00 and a 12-month high of $563.64.
Boston Beer (NYSE:SAM – Get Rating) last issued its quarterly earnings data on Thursday, July 21st. The company reported $4.31 earnings per share for the quarter, missing the consensus estimate of $5.23 by ($0.92). Boston Beer had a negative net
margin of 2.91% and a positive return on equity of 8.60%. During the same quarter in the prior year, the business posted $4.72 EPS. Sell-side analysts forecast that The Boston Beer Company, Inc. will post 8.22 earnings per share for the current fiscal year.
Insider Activity at Boston Beer
In related news, insider Carolyn L. O'boyle sold 251 shares of the firm'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 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Boston Beer news, insider Carolyn L. O'boyle sold 251 shares of the business's stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $381.73, for a total transaction of $95,814.23. Following the completion of the transaction, the insider now owns 2,593 shares of the company's stock, valued at approximately $989,825.89. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP David L. Grinnell sold 425 shares of the firm's stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $379.92, for a total value of $161,466.00. Following the completion of the sale, the vice president now directly owns 1,611 shares in the company, valued at $612,051.12. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,101 shares of company stock valued at $386,892. 23.30% of the stock is currently owned by corporate insiders.
Analyst Ratings Changes
A number of brokerages recently issued reports on SAM. Redburn Partners began coverage on shares of Boston Beer in a research report on Wednesday, July 13th. They issued a "sell" rating for the company. TheStreet upgraded shares of Boston Beer from a "d+" rating to a "c" rating in a research report on Friday, July 22nd. Jefferies Financial Group reduced their price objective on shares of Boston Beer from $384.00 to $341.00 in a research report on Thursday, July 21st. Royal Bank of Canada reduced their price objective on shares of Boston Beer from $331.00 to $314.00 in a research report on Friday, July 22nd. Finally, Credit Suisse Group reduced their price objective on shares of Boston Beer from $400.00 to $385.00 and set an "outperform" rating for the company in a research report on Friday, July 22nd. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $383.29.
Boston Beer 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.
Further Reading
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