Alberta Investment Management Corp Sells 4,640 Shares of The Boston Beer Company, Inc. (NYSE:SAM)

Key Points

• Alberta Investment Management Corp reduced its stake in The Boston Beer Company by 40.2%, selling 4,640 shares and leaving it with approximately 6,900 shares valued at $1,648,000.
• Institutional investors hold about 81.13% of the company's stock, with various hedge funds increasing their positions significantly in the first quarter, including Calamos Advisors LLC which grew its stake by 70.8%.
• Analysts have set a consensus rating of "Hold" for Boston Beer, with price targets ranging from $187.00 to $258.09 following recent evaluations.

Alberta Investment Management Corp cut its holdings in The Boston Beer Company, Inc. (NYSE:SAM - Free Report) by 40.2% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,900 shares of the company's stock after selling 4,640 shares during the period. Alberta Investment Management Corp owned approximately 0.06% of Boston Beer worth $1,648,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Teacher Retirement System of Texas grew its stake in shares of Boston Beer by 34.8% in the first quarter. Teacher Retirement System of Texas now owns 6,472 shares of the company's stock valued at $1,546,000 after acquiring an additional 1,671 shares in the last quarter. Wedge Capital Management L L P NC grew its stake in shares of Boston Beer by 51.8% in the first quarter. Wedge Capital Management L L P NC now owns 8,593 shares of the company's stock valued at $2,052,000 after acquiring an additional 2,932 shares in the last quarter. Calamos Advisors LLC grew its stake in shares of Boston Beer by 70.8% in the first quarter. Calamos Advisors LLC now owns 46,071 shares of the company's stock valued at $11,004,000 after acquiring an additional 19,090 shares in the last quarter. Norges Bank acquired a new position in shares of Boston Beer in the fourth quarter valued at about $30,741,000. Finally, GAMMA Investing LLC grew its stake in shares of Boston Beer by 7,861.2% in the first quarter. GAMMA Investing LLC now owns 10,270 shares of the company's stock valued at $2,453,000 after acquiring an additional 10,141 shares in the last quarter. 81.13% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SAM has been the topic of several research reports. Morgan Stanley decreased their price target on shares of Boston Beer from $270.00 to $245.00 and set an "equal weight" rating on the stock in a research note on Friday, July 25th. Cfra Research upgraded shares of Boston Beer from a "moderate sell" rating to a "moderate buy" rating in a research note on Thursday, April 24th. The Goldman Sachs Group reduced their price objective on shares of Boston Beer from $219.00 to $187.00 and set a "sell" rating on the stock in a research note on Monday, June 23rd. Needham & Company LLC reiterated a "hold" rating on shares of Boston Beer in a research note on Friday, April 25th. Finally, UBS Group reduced their price objective on shares of Boston Beer from $275.00 to $214.00 and set a "neutral" rating on the stock in a research note on Thursday, July 17th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $258.09.

Boston Beer Stock Performance

Shares of SAM traded up $9.40 during mid-day trading on Monday, reaching $218.91. The company had a trading volume of 439,350 shares, compared to its average volume of 290,921. The company's 50 day simple moving average is $206.38 and its 200 day simple moving average is $227.80. The Boston Beer Company, Inc. has a 1-year low of $185.34 and a 1-year high of $329.55. The company has a market capitalization of $2.44 billion, a price-to-earnings ratio of 30.88, a P/E/G ratio of 1.79 and a beta of 0.84.

Boston Beer (NYSE:SAM - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The company reported $5.45 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.37 by $1.08. The business had revenue of $587.95 million during the quarter, compared to analyst estimates of $599.18 million. Boston Beer had a net margin of 3.65% and a return on equity of 15.15%. The firm's quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter last year, the business earned $4.39 EPS. As a group, equities analysts forecast that The Boston Beer Company, Inc. will post 9.29 earnings per share for the current fiscal 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.