CenterBook Partners LP Acquires Shares of 5,151 The Boston Beer Company, Inc. (NYSE:SAM)

Key Points

• CenterBook Partners LP has acquired 5,151 shares of The Boston Beer Company, valued at approximately $1.23 million, marking a new position for the institutional investor.
• Wall Street analysts have shown skepticism, with UBS Group and Goldman Sachs each reducing their price targets significantly, while the overall consensus rating remains at "Hold."
• Boston Beer Company reported a quarterly EPS of $5.45, exceeding estimates, although its revenue fell short of expectations at $587.95 million.

CenterBook Partners LP bought a new stake in The Boston Beer Company, Inc. (NYSE:SAM - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 5,151 shares of the company's stock, valued at approximately $1,230,000.

Other large investors have also recently made changes to their positions in the company. Rossby Financial LCC acquired a new stake in Boston Beer during the 1st quarter worth approximately $25,000. GeoWealth Management LLC acquired a new stake in Boston Beer during the 4th quarter worth approximately $35,000. First Horizon Advisors Inc. raised its stake in shares of Boston Beer by 24.4% during the 1st quarter. First Horizon Advisors Inc. now owns 214 shares of the company's stock worth $51,000 after buying an additional 42 shares in the last quarter. True Wealth Design LLC raised its stake in shares of Boston Beer by 44.1% during the 4th quarter. True Wealth Design LLC now owns 232 shares of the company's stock worth $70,000 after buying an additional 71 shares in the last quarter. Finally, Signaturefd LLC raised its stake in shares of Boston Beer by 483.7% during the 1st quarter. Signaturefd LLC now owns 251 shares of the company's stock worth $60,000 after buying an additional 208 shares in the last quarter. 81.13% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SAM. Needham & Company LLC reissued a "hold" rating on shares of Boston Beer in a research note on Friday, April 25th. UBS Group cut their target price on Boston Beer from $275.00 to $214.00 and set a "neutral" rating for the company in a research note on Thursday, July 17th. Morgan Stanley cut their target price on Boston Beer from $270.00 to $245.00 and set an "equal weight" rating for the company in a research note on Friday, July 25th. Royal Bank Of Canada reissued a "sector perform" rating and set a $279.00 target price on shares of Boston Beer in a research note on Tuesday, April 22nd. Finally, Wall Street Zen downgraded Boston Beer from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Boston Beer presently has an average rating of "Hold" and an average target price of $258.09.

Insider Buying and Selling at Boston Beer

In other news, VP Annette N. Fritsch sold 600 shares of the stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $219.24, for a total transaction of $131,544.00. Following the transaction, the vice president directly owned 9,715 shares in the company, valued at $2,129,916.60. This represents a 5.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 26.10% of the stock is currently owned by insiders.

Boston Beer Price Performance

Boston Beer stock traded up $6.05 during mid-day trading on Tuesday, hitting $219.92. 86,615 shares of the company were exchanged, compared to its average volume of 225,130. The business's 50 day simple moving average is $205.28 and its two-hundred day simple moving average is $226.70. The company has a market capitalization of $2.45 billion, a P/E ratio of 31.08, a PEG ratio of 1.85 and a beta of 0.84. The Boston Beer Company, Inc. has a 12-month low of $185.34 and a 12-month high of $329.55.

Boston Beer (NYSE:SAM - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The company reported $5.45 earnings per share for the quarter, topping the consensus estimate of $4.37 by $1.08. The company had revenue of $587.95 million during 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%. Boston Beer's revenue was up 1.5% compared to the same quarter last year. During the same quarter last year, the business posted $4.39 earnings per share. Equities research analysts predict that The Boston Beer Company, Inc. will post 9.29 earnings per share for the current year.

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.