BlueMountain Capital Management LLC acquired a new position in shares of Boston Beer Company Inc (NYSE:SAM) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 1,664 shares of the company’s stock, valued at approximately $499,000.
Several other hedge funds also recently made changes to their positions in SAM. Amalgamated Bank raised its holdings in Boston Beer by 14.0% in the second quarter. Amalgamated Bank now owns 1,376 shares of the company’s stock valued at $412,000 after buying an additional 169 shares during the period. Victory Capital Management Inc. raised its holdings in Boston Beer by 16.0% in the second quarter. Victory Capital Management Inc. now owns 1,631 shares of the company’s stock valued at $489,000 after buying an additional 225 shares during the period. Russell Investments Group Ltd. raised its holdings in Boston Beer by 3.1% in the second quarter. Russell Investments Group Ltd. now owns 8,975 shares of the company’s stock valued at $2,688,000 after buying an additional 270 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Boston Beer by 69.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 731 shares of the company’s stock valued at $219,000 after buying an additional 300 shares during the period. Finally, Mutual of America Capital Management LLC raised its holdings in Boston Beer by 4.7% in the second quarter. Mutual of America Capital Management LLC now owns 7,527 shares of the company’s stock valued at $2,256,000 after buying an additional 337 shares during the period. Institutional investors and hedge funds own 72.33% of the company’s stock.
In other Boston Beer news, Chairman C James Koch sold 5,000 shares of the firm’s stock in a transaction on Friday, September 21st. The stock was sold at an average price of $297.29, for a total value of $1,486,450.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders sold 25,000 shares of company stock worth $7,809,600 over the last quarter. 29.20% of the stock is currently owned by company insiders.
Boston Beer stock traded down $1.21 during mid-day trading on Friday, reaching $265.79. The company’s stock had a trading volume of 147,615 shares, compared to its average volume of 142,357. The company has a market cap of $3.38 billion, a PE ratio of 44.22, a P/E/G ratio of 4.27 and a beta of 0.67. Boston Beer Company Inc has a twelve month low of $160.40 and a twelve month high of $329.95.
Boston Beer (NYSE:SAM) last posted its earnings results on Thursday, July 26th. The company reported $1.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.77 by ($0.79). The company had revenue of $273.10 million during the quarter, compared to the consensus estimate of $273.05 million. Boston Beer had a net margin of 10.39% and a return on equity of 17.21%. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.35 earnings per share. On average, research analysts predict that Boston Beer Company Inc will post 7.09 EPS for the current year.
A number of research firms have recently issued reports on SAM. Cowen reiterated a “hold” rating and set a $350.00 price objective on shares of Boston Beer in a research note on Wednesday, July 25th. Macquarie lowered shares of Boston Beer from a “neutral” rating to an “underperform” rating and set a $225.00 price objective on the stock. in a research note on Wednesday, July 25th. They noted that the move was a valuation call. Berenberg Bank set a $290.00 price objective on shares of Boston Beer and gave the company a “hold” rating in a research note on Tuesday, September 11th. Zacks Investment Research lowered shares of Boston Beer from a “buy” rating to a “hold” rating in a research note on Monday, September 10th. Finally, Guggenheim assumed coverage on shares of Boston Beer in a research report on Thursday, September 13th. They set a “buy” rating and a $381.00 price target for the company. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $258.85.
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 sells approximately 60 beers under the Samuel Adams brand names; 10 flavored malt beverages under the Twisted Tea brand name; 20 hard cider beverages under the Angry Orchard brand; 5 hard sparkling waters under the Truly Spiked & Sparkling brand name; and approximately 50 beers under 4 brand names.
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