Connor Clark & Lunn Investment Management Ltd. Buys New Holdings in The Boston Beer Company, Inc. $SAM

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in The Boston Beer Company, Inc. (NYSE:SAM - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 3,323 shares of the company's stock, valued at approximately $794,000.

Several other hedge funds have also recently bought and sold shares of SAM. J. Goldman & Co LP increased its stake in Boston Beer by 251.8% in the 4th quarter. J. Goldman & Co LP now owns 119,687 shares of the company's stock valued at $35,904,000 after purchasing an additional 85,669 shares in the last quarter. Freestone Grove Partners LP purchased a new position in Boston Beer during the fourth quarter worth $21,412,000. AQR Capital Management LLC increased its position in Boston Beer by 19.8% during the fourth quarter. AQR Capital Management LLC now owns 422,217 shares of the company's stock worth $125,821,000 after buying an additional 69,778 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its position in Boston Beer by 4.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 703,480 shares of the company's stock worth $211,030,000 after buying an additional 29,412 shares in the last quarter. Finally, Point72 Asset Management L.P. increased its position in Boston Beer by 67.4% during the fourth quarter. Point72 Asset Management L.P. now owns 56,769 shares of the company's stock worth $17,030,000 after buying an additional 22,854 shares in the last quarter. 81.13% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, VP Annette N. Fritsch sold 600 shares of Boston Beer stock in a transaction on Friday, August 8th. The stock was sold at an average price of $219.24, for a total value of $131,544.00. Following the transaction, the vice president owned 9,715 shares in the company, valued at approximately $2,129,916.60. This trade represents a 5.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 26.10% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Morgan Stanley dropped their price target on Boston Beer from $270.00 to $245.00 and set an "equal weight" rating for the company in a research report on Friday, July 25th. Needham & Company LLC reissued a "hold" rating on shares of Boston Beer in a research report on Friday, April 25th. UBS Group dropped their price target on Boston Beer from $275.00 to $214.00 and set a "neutral" rating for the company in a research report on Thursday, July 17th. Wall Street Zen downgraded Boston Beer from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Finally, Evercore ISI dropped their price target on 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 issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $258.09.

Boston Beer Stock Up 1.8%

Shares of SAM stock traded up $3.8250 during mid-day trading on Friday, hitting $222.0350. 20,889 shares of the company's stock were exchanged, compared to its average volume of 223,472. The Boston Beer Company, Inc. has a fifty-two week low of $185.34 and a fifty-two week high of $329.55. The stock has a 50-day simple moving average of $205.34 and a two-hundred day simple moving average of $225.32. The stock has a market cap of $2.48 billion, a price-to-earnings ratio of 31.32, a PEG ratio of 1.86 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 return on equity of 15.15% and a net margin of 3.65%.The business had revenue of $587.95 million for the quarter, compared to analysts' expectations of $599.18 million. During the same quarter last year, the firm earned $4.39 earnings per share. The business's revenue was up 1.5% on a year-over-year basis. Boston Beer has set its FY 2025 guidance at 8.000-10.500 EPS. As a group, analysts anticipate that The Boston Beer Company, Inc. will post 9.29 earnings per share for the current fiscal 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.