AQR Capital Management LLC Has $27.67 Million Holdings in The Boston Beer Company, Inc. $SAM

Key Points

• AQR Capital Management LLC reduced its stake in The Boston Beer Company by 72.2%, owning 117,209 shares after selling 305,008 shares in the first quarter.
• Armistice Capital LLC and Jump Financial LLC significantly increased their holdings, with Armistice acquiring an additional 88,624 shares, bringing its total to 210,553 shares, while Jump Financial's stake surged by 2,695.2%.
• In its recent quarterly earnings, Boston Beer reported $5.45 earnings per share, exceeding analysts' estimates, but its revenue of $587.95 million fell short of expectations.

AQR Capital Management LLC decreased its position in shares of The Boston Beer Company, Inc. (NYSE:SAM - Free Report) by 72.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 117,209 shares of the company's stock after selling 305,008 shares during the period. AQR Capital Management LLC owned 1.05% of Boston Beer worth $27,672,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Boston Beer by 1.8% during the first quarter. Vanguard Group Inc. now owns 865,251 shares of the company's stock valued at $206,657,000 after purchasing an additional 15,563 shares during the last quarter. Armistice Capital LLC boosted its position in Boston Beer by 72.7% during the first quarter. Armistice Capital LLC now owns 210,553 shares of the company's stock valued at $50,288,000 after purchasing an additional 88,624 shares during the last quarter. Invesco Ltd. boosted its position 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 during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Boston Beer by 5.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 99,457 shares of the company's stock valued at $23,754,000 after purchasing an additional 5,101 shares during the last quarter. Finally, Millennium Management LLC boosted its position in Boston Beer by 21.1% during the fourth quarter. Millennium Management LLC now owns 94,231 shares of the company's stock valued at $28,267,000 after purchasing an additional 16,408 shares during the last quarter. Institutional investors and hedge funds own 81.13% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Sanford C. Bernstein set a $230.00 target price on Boston Beer and gave the company a "market perform" rating in a report on Monday, July 28th. Morgan Stanley cut their target price on Boston Beer from $270.00 to $245.00 and set an "equal weight" rating on the stock in a report on Friday, July 25th. Wall Street Zen lowered Boston Beer from a "buy" rating to a "hold" rating in a report on Friday, June 27th. The Goldman Sachs Group cut their target price on Boston Beer from $219.00 to $187.00 and set a "sell" rating on the stock in a report on Monday, June 23rd. Finally, Evercore ISI cut their target price on Boston Beer from $275.00 to $250.00 and set an "in-line" rating on the stock in a report on Friday, July 25th. Two investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Boston Beer has an average rating of "Hold" and an average price target of $258.09.

Boston Beer Trading Down 1.5%

SAM traded down $3.31 on Friday, hitting $216.67. 191,157 shares of the stock traded hands, compared to its average volume of 212,479. The Boston Beer Company, Inc. has a 52 week low of $185.34 and a 52 week high of $329.55. The firm has a market capitalization of $2.42 billion, a PE ratio of 30.56, a P/E/G ratio of 1.88 and a beta of 0.82. The business has a fifty day moving average price of $212.34 and a two-hundred day moving average price of $223.91.

Boston Beer (NYSE:SAM - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The company reported $5.45 earnings per share for the quarter, beating analysts' consensus estimates of $4.37 by $1.08. The company had revenue of $587.95 million for the quarter, compared to the consensus estimate of $599.18 million. Boston Beer had a return on equity of 15.15% and a net margin of 3.65%.The company's quarterly revenue was up 1.5% on a year-over-year basis. During the same period in the previous year, the business earned $4.39 earnings per share. Boston Beer has set its FY 2025 guidance at 8.000-10.500 EPS. On average, equities research analysts forecast that The Boston Beer Company, Inc. will post 9.29 EPS for the current fiscal year.

Insiders Place Their Bets

In other Boston Beer news, VP Annette N. Fritsch sold 600 shares of Boston Beer 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 sale, the vice president directly owned 9,715 shares of the company's stock, valued at approximately $2,129,916.60. The trade was a 5.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 26.10% of the company's stock.

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.