Bank of America Corp DE Lowers Stake in The Boston Beer Company, Inc. (NYSE:SAM)

Bank of America Corp DE cut its stake in The Boston Beer Company, Inc. (NYSE:SAM - Free Report) by 70.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,857 shares of the company's stock after selling 23,224 shares during the quarter. Bank of America Corp DE owned about 0.09% of Boston Beer worth $2,957,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in SAM. First Horizon Advisors Inc. increased its stake in shares of Boston Beer by 42.1% in the 4th quarter. First Horizon Advisors Inc. now owns 172 shares of the company's stock worth $52,000 after acquiring an additional 51 shares in the last quarter. Bank of Montreal Can increased its stake in shares of Boston Beer by 7.3% in the 4th quarter. Bank of Montreal Can now owns 1,001 shares of the company's stock worth $300,000 after acquiring an additional 68 shares in the last quarter. Blue Trust Inc. increased its stake in shares of Boston Beer by 405.6% in the 4th quarter. Blue Trust Inc. now owns 91 shares of the company's stock worth $26,000 after acquiring an additional 73 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Boston Beer by 6.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,332 shares of the company's stock worth $400,000 after acquiring an additional 84 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Boston Beer by 2,225.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 93 shares of the company's stock worth $28,000 after acquiring an additional 89 shares in the last quarter. 81.13% of the stock is currently owned by institutional investors.

Boston Beer Stock Performance

Shares of SAM stock traded down $9.06 during trading hours on Monday, reaching $220.79. The company had a trading volume of 342,602 shares, compared to its average volume of 158,325. The firm has a market cap of $2.46 billion, a PE ratio of 32.47, a price-to-earnings-growth ratio of 1.23 and a beta of 1.14. The business has a fifty day moving average price of $240.30 and a 200-day moving average price of $258.47. The Boston Beer Company, Inc. has a one year low of $215.10 and a one year high of $329.55.

Boston Beer (NYSE:SAM - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The company reported $2.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.78 by $1.38. The company had revenue of $481.36 million for the quarter, compared to the consensus estimate of $436.27 million. Boston Beer had a net margin of 3.82% and a return on equity of 11.76%. The firm's revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.04 earnings per share. Equities research analysts forecast that The Boston Beer Company, Inc. will post 9.29 EPS for the current year.

Analyst Upgrades and Downgrades

SAM has been the subject of a number of analyst reports. Royal Bank of Canada restated a "sector perform" rating and set a $279.00 price objective on shares of Boston Beer in a research note on Tuesday, April 22nd. Citigroup raised their price objective on shares of Boston Beer from $280.00 to $285.00 and gave the company a "buy" rating in a research note on Monday, April 14th. Roth Mkm restated a "buy" rating and set a $349.00 price objective (down from $389.00) on shares of Boston Beer in a research note on Wednesday, February 26th. Needham & Company LLC restated a "hold" rating on shares of Boston Beer in a research note on Friday, April 25th. Finally, 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. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Boston Beer presently has an average rating of "Hold" and a consensus price target of $286.12.

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.