The Boston Beer Company, Inc. (NYSE:SAM) Shares Sold by Cresset Asset Management LLC

Cresset Asset Management LLC cut its stake in shares of The Boston Beer Company, Inc. (NYSE:SAM - Free Report) by 62.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,874 shares of the company's stock after selling 3,184 shares during the quarter. Cresset Asset Management LLC's holdings in Boston Beer were worth $562,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Entropy Technologies LP purchased a new stake in shares of Boston Beer during the 4th quarter worth $368,000. Legato Capital Management LLC acquired a new stake in Boston Beer in the fourth quarter valued at $1,966,000. Merit Financial Group LLC purchased a new position in shares of Boston Beer in the fourth quarter valued at $434,000. Charles Schwab Investment Management Inc. raised its stake in shares of Boston Beer by 5.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 94,356 shares of the company's stock worth $28,305,000 after buying an additional 4,675 shares during the last quarter. Finally, Norges Bank purchased a new position in Boston Beer during the 4th quarter valued at about $30,741,000. 81.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on SAM. UBS Group upped their price target on shares of Boston Beer from $265.00 to $279.00 and gave the company a "neutral" rating in a report on Thursday, April 17th. Morgan Stanley lowered their target price on Boston Beer from $290.00 to $270.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 26th. Needham & Company LLC reissued a "hold" rating on shares of Boston Beer in a research report on Friday, April 25th. Royal Bank of Canada restated a "sector perform" rating and issued a $279.00 price objective on shares of Boston Beer in a research report on Tuesday, April 22nd. Finally, Roth Mkm reaffirmed a "buy" rating and set a $349.00 price objective (down previously from $389.00) on shares of Boston Beer in a research note on Wednesday, February 26th. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $286.12.

Boston Beer Price Performance

NYSE:SAM traded up $4.51 during mid-day trading on Friday, reaching $250.03. The company's stock had a trading volume of 108,497 shares, compared to its average volume of 165,654. The stock has a market cap of $2.79 billion, a P/E ratio of 36.77, a P/E/G ratio of 1.23 and a beta of 1.14. The company's fifty day simple moving average is $238.96 and its two-hundred day simple moving average is $263.79. The Boston Beer Company, Inc. has a twelve month low of $215.10 and a twelve month high of $339.77.

Boston Beer (NYSE:SAM - Get Free Report) last released its earnings results on Thursday, April 24th. The company reported $2.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $1.38. Boston Beer had a net margin of 3.82% and a return on equity of 11.76%. The business had revenue of $481.36 million for the quarter, compared to analysts' expectations of $436.27 million. During the same period last year, the company earned $1.04 earnings per share. The company's quarterly revenue was up 6.5% on a year-over-year basis. Sell-side analysts expect that The Boston Beer Company, Inc. will post 9.29 EPS for the current fiscal year.

About Boston Beer

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.