Activest Wealth Management increased its stake in shares of The Boston Beer Company, Inc. (NYSE:SAM – Get Rating) by 733.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 125 shares of the company's stock after purchasing an additional 110 shares during the period. Activest Wealth Management's holdings in Boston Beer were worth $38,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also recently modified their holdings of SAM. 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 purchased a new stake in shares of Boston Beer in the fourth quarter valued at about $30,000. HM Payson & Co. lifted its stake in shares of Boston Beer by 114.3% in the first quarter. HM Payson & Co. now owns 150 shares of the company's stock valued at $58,000 after purchasing an additional 80 shares during the period. MCF Advisors LLC acquired a new stake in shares of Boston Beer in the first quarter valued at about $61,000. Finally, Prospera Financial Services Inc acquired a new position in Boston Beer during the first quarter worth about $75,000. Institutional investors and hedge funds own 70.32% of the company's stock.
Get Boston Beer alerts:Analyst Ratings Changes
A number of equities research analysts recently issued reports on SAM shares. Credit Suisse Group lowered their target price on shares of Boston Beer from $400.00 to $385.00 and set an "outperform" rating for the company in a report on Friday, July 22nd. Jefferies Financial Group decreased their target price on shares of Boston Beer from $384.00 to $341.00 in a research note on Thursday, July 21st. MKM Partners decreased their target price on shares of Boston Beer from $334.00 to $279.00 and set a "neutral" rating for the company in a research note on Friday, July 22nd. Sanford C. Bernstein cut their price target on shares of Boston Beer to $320.00 in a report on Friday, July 22nd. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of Boston Beer from $337.00 to $296.00 and set a "hold" rating on the stock in a report on Wednesday, July 13th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $351.23.
Boston Beer Stock Performance
Shares of NYSE:SAM traded down $6.85 during trading hours on Friday, hitting $311.63. 2,139 shares of the company's stock traded hands, compared to its average volume of 100,769. The Boston Beer Company, Inc. has a 52 week low of $287.00 and a 52 week high of $556.68. The company's fifty day simple moving average is $353.84 and its two-hundred day simple moving average is $351.68.Boston Beer (NYSE:SAM – Get Rating) last posted 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. Analysts forecast that The Boston Beer Company, Inc. will post 8.22 earnings per share for the current fiscal year.
Insider Buying and Selling at Boston Beer
In other Boston Beer news, VP David L. Grinnell sold 425 shares of the company's stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $379.92, for a total transaction of $161,466.00. Following the completion of the sale, the vice president now directly owns 1,611 shares of the company's stock, valued at $612,051.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, VP David L. Grinnell sold 425 shares of the stock in a transaction that occurred on 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 of the company's stock, valued at $612,051.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Carolyn L. O'boyle sold 251 shares of the 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 completion of the sale, 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 currently owned by corporate insiders.
About Boston Beer
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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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