1,535 Shares in The Boston Beer Company, Inc. $SAM Bought by Sage Private Wealth Group LLC

Key Points

• Sage Private Wealth Group LLC acquired 1,535 shares of The Boston Beer Company, valued at approximately $293,000, during the second quarter.
• Analyst reports show a generally negative outlook on Boston Beer, with recent price targets cut by several firms and a consensus rating of “Reduce.”
• Boston Beer reported earnings of $5.45 EPS for the last quarter, which exceeded expectations, but revenue fell slightly short at $587.95 million.

Sage Private Wealth Group LLC bought a new stake in shares of The Boston Beer Company, Inc. (NYSE:SAM - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,535 shares of the company's stock, valued at approximately $293,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of Boston Beer by 1.8% in the first quarter. Vanguard Group Inc. now owns 865,251 shares of the company's stock worth $206,657,000 after buying an additional 15,563 shares during the period. Armistice Capital LLC raised its stake in Boston Beer by 72.7% during the 1st quarter. Armistice Capital LLC now owns 210,553 shares of the company's stock worth $50,288,000 after acquiring an additional 88,624 shares during the period. Millennium Management LLC raised its stake in Boston Beer by 97.3% during the 1st quarter. Millennium Management LLC now owns 185,898 shares of the company's stock worth $44,400,000 after acquiring an additional 91,667 shares during the period. Invesco Ltd. lifted its holdings in Boston Beer by 10.3% during the first quarter. Invesco Ltd. now owns 109,259 shares of the company's stock valued at $26,095,000 after purchasing an additional 10,241 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Boston Beer by 5.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 99,457 shares of the company's stock worth $23,754,000 after purchasing an additional 5,101 shares during the period. Hedge funds and other institutional investors own 81.13% of the company's stock.

Analyst Upgrades and Downgrades

SAM has been the topic of several recent analyst reports. UBS Group decreased their price objective on shares of Boston Beer from $234.00 to $230.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 8th. Evercore ISI cut their price target on Boston Beer from $275.00 to $250.00 and set an "in-line" rating for the company in a research note on Friday, July 25th. Jefferies Financial Group decreased their price target on Boston Beer from $230.00 to $225.00 and set a "hold" rating on the stock in a report on Tuesday, September 30th. Sanford C. Bernstein set a $230.00 price objective on Boston Beer and gave the stock a "market perform" rating in a research note on Monday, July 28th. Finally, Wall Street Zen cut Boston Beer from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. One investment analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Boston Beer has a consensus rating of "Reduce" and a consensus price target of $251.51.

Boston Beer Stock Up 0.9%

SAM opened at $225.52 on Friday. The company has a market capitalization of $2.51 billion, a PE ratio of 31.81, a price-to-earnings-growth ratio of 2.06 and a beta of 0.83. The firm has a 50-day simple moving average of $220.16 and a two-hundred day simple moving average of $221.51. The Boston Beer Company, Inc. has a 52 week low of $185.34 and a 52 week high of $329.55.

Boston Beer (NYSE:SAM - Get Free Report) last issued its earnings results on Thursday, July 24th. The company reported $5.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.37 by $1.08. Boston Beer had a return on equity of 15.15% and a net margin of 3.65%.The firm had revenue of $587.95 million for the quarter, compared to analysts' expectations of $599.18 million. During the same period in the previous year, the firm posted $4.39 earnings per share. The business's revenue was up 1.5% compared to the same quarter last year. Boston Beer has set its FY 2025 guidance at 8.000-10.500 EPS. As a group, sell-side analysts expect that The Boston Beer Company, Inc. will post 9.29 earnings per share for the current year.

Insider Activity

In other news, VP Annette N. Fritsch sold 600 shares of the stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $219.24, for a total transaction of $131,544.00. Following the completion of the transaction, the vice president directly owned 9,715 shares in the company, valued at approximately $2,129,916.60. This represents a 5.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 26.10% of the stock is owned by company insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.