Connor Clark & Lunn Investment Management Ltd. acquired a new position in The Boston Beer Company, Inc. (NYSE:SAM - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 3,323 shares of the company's stock, valued at approximately $794,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas boosted its stake in Boston Beer by 34.8% in the 1st 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 boosted its stake 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 purchasing an additional 2,932 shares during the period. 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. GAMMA Investing LLC boosted its stake in shares of Boston Beer by 7,861.2% during the 1st quarter. GAMMA Investing LLC now owns 10,270 shares of the company's stock valued at $2,453,000 after buying an additional 10,141 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in shares of Boston Beer during the 1st quarter valued at $394,000. Institutional investors and hedge funds own 81.13% of the company's stock.
Boston Beer Stock Performance
Shares of NYSE:SAM traded down $0.9050 on Thursday, hitting $217.4250. 57,559 shares of the company were exchanged, compared to its average volume of 224,221. The company's 50 day moving average price is $205.26 and its two-hundred day moving average price is $225.52. The Boston Beer Company, Inc. has a one year low of $185.34 and a one year high of $329.55. The firm has a market capitalization of $2.42 billion, a price-to-earnings ratio of 30.67, a PEG ratio of 1.91 and a beta of 0.84.
Boston Beer (NYSE:SAM - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The company reported $5.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.37 by $1.08. Boston Beer had a net margin of 3.65% and a return on equity of 15.15%. The company had revenue of $587.95 million for the quarter, compared to the consensus estimate of $599.18 million. During the same quarter in the previous year, the firm posted $4.39 EPS. The business's revenue 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. Research analysts predict that The Boston Beer Company, Inc. will post 9.29 earnings per share for the current year.
Insider Buying and Selling at Boston Beer
In other news, VP Annette N. Fritsch sold 600 shares of Boston Beer 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 sale, the vice president directly owned 9,715 shares in the company, valued at approximately $2,129,916.60. The trade was a 5.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 26.10% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on the stock. Morgan Stanley decreased their target price on shares of 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. Needham & Company LLC reissued a "hold" rating on shares of Boston Beer in a research note on Friday, April 25th. UBS Group cut their price target on shares of Boston Beer from $275.00 to $214.00 and set a "neutral" rating on the stock in a report on Thursday, July 17th. Wall Street Zen downgraded shares of Boston Beer from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Finally, Sanford C. Bernstein set a $230.00 price target on shares of Boston Beer and gave the company a "market perform" rating in a report on Monday, July 28th. Two research 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 has an average rating of "Hold" and a consensus target price of $258.09.
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About Boston Beer
(
Free Report)
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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