Canada Pension Plan Investment Board Trims Stock Position in The Boston Beer Company, Inc. (NYSE:SAM)

Canada Pension Plan Investment Board cut its holdings in shares of The Boston Beer Company, Inc. (NYSE:SAM - Free Report) by 12.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 58,500 shares of the company's stock after selling 8,300 shares during the period. Canada Pension Plan Investment Board owned 0.51% of Boston Beer worth $17,549,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Fisher Asset Management LLC boosted its stake in Boston Beer by 27.1% in the 4th quarter. Fisher Asset Management LLC now owns 160,419 shares of the company's stock worth $48,122,000 after purchasing an additional 34,176 shares in the last quarter. Norges Bank purchased a new stake in shares of Boston Beer during the fourth quarter valued at $30,741,000. Charles Schwab Investment Management Inc. raised its stake in Boston Beer by 5.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 94,356 shares of the company's stock worth $28,305,000 after acquiring an additional 4,675 shares during the last quarter. Cooper Creek Partners Management LLC purchased a new stake in Boston Beer during the 4th quarter valued at about $25,054,000. Finally, Global Alpha Capital Management Ltd. purchased a new stake in Boston Beer during the 4th quarter valued at about $23,349,000. Hedge funds and other institutional investors own 81.13% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Citigroup increased their price target on shares of Boston Beer from $280.00 to $285.00 and gave the stock a "buy" rating in a report on Monday, April 14th. Needham & Company LLC reaffirmed a "hold" rating on shares of Boston Beer in a research report on Friday. UBS Group boosted their price objective on Boston Beer from $265.00 to $279.00 and gave the company a "neutral" rating in a report on Thursday, April 17th. Berenberg Bank began coverage on Boston Beer in a research report on Wednesday, April 2nd. They set a "hold" rating and a $281.10 price target for the company. Finally, Morgan Stanley cut their target price on shares of Boston Beer from $290.00 to $270.00 and set an "equal weight" rating for the company in a report on Wednesday, February 26th. Nine equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $290.01.

Boston Beer Stock Up 2.9 %

Shares of Boston Beer stock traded up $7.05 during trading hours on Friday, reaching $249.45. 382,469 shares of the company's stock were exchanged, compared to its average volume of 172,797. The company has a market capitalization of $2.80 billion, a P/E ratio of 36.68, a price-to-earnings-growth ratio of 1.23 and a beta of 1.26. The Boston Beer Company, Inc. has a 1 year low of $215.10 and a 1 year high of $339.77. The business has a fifty day moving average of $236.77 and a two-hundred day moving average of $268.87.

Boston Beer (NYSE:SAM - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The company reported $2.16 EPS for the quarter, beating analysts' consensus estimates of $0.78 by $1.38. The company had revenue of $481.36 million during the quarter, compared to the consensus estimate of $436.27 million. Boston Beer had a net margin of 3.82% and a return on equity of 11.76%. As a group, research analysts predict that The Boston Beer Company, Inc. will post 9.29 EPS for the current year.

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 offers various beers, hard ciders, flavored malt beverages, and hard seltzers under the Samuel Adams, Twisted Tea, Truly, Angry Orchard, Dogfish Head, Angel City, and Coney Island brand names.