Assenagon Asset Management S.A. Has $3.76 Million Stock Position in The Boston Beer Company, Inc. $SAM

Key Points

• Assenagon Asset Management S.A. has decreased its stake in The Boston Beer Company by 33.7%, now holding 19,686 shares valued at approximately $3.76 million.
• The company reported earnings per share (EPS) of $5.45 for the last quarter, surpassing estimates, while FY 2025 guidance has been set between 8.000-10.500 EPS.
• Analysts have revised their price targets for Boston Beer, with Citigroup lowering theirs from $285.00 to $230.00 and Goldman Sachs from $219.00 to $187.00, indicating a range of ratings from Buy to Sell among different institutions.

Assenagon Asset Management S.A. cut its holdings in shares of The Boston Beer Company, Inc. (NYSE:SAM - Free Report) by 33.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 19,686 shares of the company's stock after selling 10,008 shares during the quarter. Assenagon Asset Management S.A. owned 0.18% of Boston Beer worth $3,756,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Teacher Retirement System of Texas boosted its holdings 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 during the period. Wedge Capital Management L L P NC lifted its position in Boston Beer by 51.8% in 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 stake in shares of Boston Beer by 70.8% during 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. Northern Trust Corp grew its holdings in shares of Boston Beer by 7.6% during the 1st quarter. Northern Trust Corp now owns 86,791 shares of the company's stock valued at $20,729,000 after acquiring an additional 6,159 shares in the last quarter. Finally, GAMMA Investing LLC increased 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 during the last quarter. Hedge funds and other institutional investors own 81.13% of the company's stock.

Boston Beer Stock Performance

Shares of SAM stock opened at $220.55 on Thursday. The stock's 50 day simple moving average is $216.42 and its 200 day simple moving average is $222.77. The Boston Beer Company, Inc. has a twelve month low of $185.34 and a twelve month high of $329.55. The company has a market capitalization of $2.46 billion, a price-to-earnings ratio of 31.11, a PEG ratio of 1.84 and a beta of 0.82.

Boston Beer (NYSE:SAM - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The company reported $5.45 EPS for the quarter, beating 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 company had revenue of $587.95 million for the quarter, compared to the consensus estimate of $599.18 million. During the same quarter last year, the company posted $4.39 earnings per share. The company's revenue for the quarter 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. On average, analysts forecast that The Boston Beer Company, Inc. will post 9.29 EPS for the current fiscal year.

Analysts Set New Price Targets

SAM has been the subject of a number of research reports. Citigroup reduced their price objective on Boston Beer from $285.00 to $230.00 and set a "buy" rating for the company in a research report on Tuesday, July 15th. UBS Group reduced 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. The Goldman Sachs Group dropped their price objective on Boston Beer from $219.00 to $187.00 and set a "sell" rating on the stock in a report 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 research report on Monday, July 28th. Finally, Evercore ISI decreased their target price on shares of Boston Beer from $275.00 to $250.00 and set an "in-line" rating for the company in a research report on Friday, July 25th. Two equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $258.09.

Insider Buying and Selling

In other Boston Beer news, VP Annette N. Fritsch sold 600 shares of the business's stock in a transaction on Friday, August 8th. The shares were 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 owned 9,715 shares of the company's stock, valued at $2,129,916.60. The trade was a 5.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 26.10% of the stock is owned by company insiders.

Boston Beer Company 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.

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