Armistice Capital LLC Has $50.29 Million Position in The Boston Beer Company, Inc. $SAM

Key Points

• Armistice Capital LLC increased its stake in The Boston Beer Company by 72.7% during the first quarter, now owning approximately 1.89% of the company valued at $50.3 million.
• Insider trading activity was noted, with VP Annette N. Fritsch selling 600 shares of Boston Beer for about $131,544, reducing her stake in the company.
• Boston Beer reported earnings of $5.45 EPS in its most recent quarter, exceeding analyst expectations, although revenue fell short of estimates at $587.95 million.

Armistice Capital LLC boosted its stake in shares of The Boston Beer Company, Inc. (NYSE:SAM - Free Report) by 72.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 210,553 shares of the company's stock after buying an additional 88,624 shares during the period. Boston Beer accounts for 0.8% of Armistice Capital LLC's investment portfolio, making the stock its 19th largest position. Armistice Capital LLC owned 1.89% of Boston Beer worth $50,288,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of SAM. Teacher Retirement System of Texas lifted its position in shares of Boston Beer by 34.8% during the first quarter. Teacher Retirement System of Texas now owns 6,472 shares of the company's stock worth $1,546,000 after purchasing an additional 1,671 shares in the last quarter. Wedge Capital Management L L P NC lifted its holdings in Boston Beer by 51.8% during the 1st quarter. Wedge Capital Management L L P NC now owns 8,593 shares of the company's stock worth $2,052,000 after buying an additional 2,932 shares in the last quarter. Calamos Advisors LLC boosted its position in Boston Beer by 70.8% in the 1st quarter. Calamos Advisors LLC now owns 46,071 shares of the company's stock valued at $11,004,000 after buying an additional 19,090 shares during the period. 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 worth $2,453,000 after acquiring an additional 10,141 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of Boston Beer in the first quarter worth $394,000. Institutional investors and hedge funds own 81.13% of the company's stock.

Boston Beer Stock Performance

Boston Beer stock traded up $5.47 during midday trading on Friday, reaching $228.34. The company's stock had a trading volume of 112,316 shares, compared to its average volume of 223,714. The stock's 50 day simple moving average is $209.46 and its 200 day simple moving average is $224.19. The firm has a market capitalization of $2.55 billion, a PE ratio of 32.24, a P/E/G ratio of 1.87 and a beta of 0.82. The Boston Beer Company, Inc. has a fifty-two week low of $185.34 and a fifty-two week high of $329.55.

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 the consensus estimate of $4.37 by $1.08. The business had revenue of $587.95 million for the quarter, compared to analyst estimates of $599.18 million. Boston Beer had a return on equity of 15.15% and a net margin of 3.65%.The company's revenue was up 1.5% compared to the same quarter last year. During the same period in the previous year, the company posted $4.39 EPS. Boston Beer has set its FY 2025 guidance at 8.000-10.500 EPS. Equities analysts predict that The Boston Beer Company, Inc. will post 9.29 earnings per share for the current year.

Analysts Set New Price Targets

SAM has been the subject of several analyst reports. Wall Street Zen cut Boston Beer from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. The Goldman Sachs Group decreased their price target on shares of Boston Beer from $219.00 to $187.00 and set a "sell" rating for the company in a research note on Monday, June 23rd. Sanford C. Bernstein set a $230.00 price objective on shares of Boston Beer and gave the company a "market perform" rating in a report on Monday, July 28th. Evercore ISI dropped 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. Finally, UBS Group lowered their price target on Boston Beer from $275.00 to $214.00 and set a "neutral" rating for the company in a report on Thursday, July 17th. Two analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Boston Beer currently has an average rating of "Hold" and an average target price of $258.09.

Insider Activity

In other news, VP Annette N. Fritsch sold 600 shares of the stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $219.24, for a total value of $131,544.00. Following the completion of the sale, the vice president owned 9,715 shares in the company, valued at approximately $2,129,916.60. This trade represents a 5.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company 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.