Cardinal Capital Management Purchases 1,689 Shares of The Boston Beer Company, Inc. $SAM

Key Points

• Cardinal Capital Management increased its stake in The Boston Beer Company by 21.5% in Q2, owning a total of 9,530 shares worth approximately $1.82 million after purchasing an additional 1,689 shares.
• Boston Beer reported earnings per share of $5.45 for the last quarter, exceeding analysts' expectations of $4.37, though revenues fell short of projections at $587.95 million.
• Analysts have recently adjusted their price targets for Boston Beer, with most firms lowering their expectations, including Evercore ISI from $275.00 to $250.00, reflecting mixed sentiments about the stock.

Cardinal Capital Management raised its holdings in The Boston Beer Company, Inc. (NYSE:SAM - Free Report) by 21.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,530 shares of the company's stock after buying an additional 1,689 shares during the quarter. Cardinal Capital Management owned 0.09% of Boston Beer worth $1,818,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of SAM. Rossby Financial LCC bought a new stake in Boston Beer in the first quarter valued at about $25,000. Elequin Capital LP bought a new stake in Boston Beer in the first quarter valued at about $30,000. Caitong International Asset Management Co. Ltd bought a new stake in Boston Beer in the first quarter valued at about $44,000. First Horizon Advisors Inc. grew its stake in shares of Boston Beer by 24.4% in the 1st quarter. First Horizon Advisors Inc. now owns 214 shares of the company's stock valued at $51,000 after purchasing an additional 42 shares during the period. Finally, Signaturefd LLC grew its stake in shares of Boston Beer by 483.7% in the 1st quarter. Signaturefd LLC now owns 251 shares of the company's stock valued at $60,000 after purchasing an additional 208 shares during the period. Institutional investors own 81.13% of the company's stock.

Insiders Place Their Bets

In other news, VP Annette N. Fritsch sold 600 shares of Boston Beer stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $219.24, for a total transaction of $131,544.00. Following the transaction, the vice president owned 9,715 shares in the company, valued at $2,129,916.60. The trade was a 5.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 26.10% of the company's stock.

Boston Beer Trading Down 3.4%

Shares of SAM opened at $215.64 on Tuesday. The stock's 50-day moving average price is $215.36 and its two-hundred day moving average price is $222.84. The stock has a market cap of $2.40 billion, a P/E ratio of 30.42, a price-to-earnings-growth ratio of 1.90 and a beta of 0.82. The Boston Beer Company, Inc. has a 1 year low of $185.34 and a 1 year high of $329.55.

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

Analysts Set New Price Targets

SAM has been the topic of several analyst reports. Evercore ISI lowered their price objective on Boston Beer from $275.00 to $250.00 and set an "in-line" rating on the stock in a research note on Friday, July 25th. Morgan Stanley lowered their price target on Boston Beer from $270.00 to $245.00 and set an "equal weight" rating on the stock in a research report on Friday, July 25th. UBS Group lowered their price target on Boston Beer from $275.00 to $214.00 and set a "neutral" rating on the stock in a research report on Thursday, July 17th. Wall Street Zen lowered shares of Boston Beer from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Finally, The Goldman Sachs Group lowered their target price on shares of Boston Beer from $219.00 to $187.00 and set a "sell" rating on the stock in a report on Monday, June 23rd. Two investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $258.09.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.