Cubist Systematic Strategies LLC Buys 8,933 Shares of The Boston Beer Company, Inc. $SAM

Key Points

• Cubist Systematic Strategies LLC increased its holdings in The Boston Beer Company, Inc. by 81.1%, owning approximately $4.76 million worth of shares after acquiring additional stock during the first quarter.
• Wall Street analysts have revised their ratings on Boston Beer, with most analysts now rating it as a "Hold" and a consensus price target of $258.09.
• Boston Beer recently reported quarterly earnings of $5.45 per share, which exceeded analysts' estimates, while the revenue recorded was $587.95 million, slightly below expectations.

Cubist Systematic Strategies LLC raised its position in The Boston Beer Company, Inc. (NYSE:SAM - Free Report) by 81.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,946 shares of the company's stock after acquiring an additional 8,933 shares during the quarter. Cubist Systematic Strategies LLC owned approximately 0.18% of Boston Beer worth $4,764,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Rossby Financial LCC bought a new stake in shares of Boston Beer in the first quarter worth about $25,000. Elequin Capital LP bought a new position in Boston Beer during the 1st quarter valued at approximately $30,000. Caitong International Asset Management Co. Ltd purchased a new stake in Boston Beer in the 1st quarter worth approximately $44,000. First Horizon Advisors Inc. grew its position 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 worth $51,000 after buying an additional 42 shares during the last quarter. Finally, Signaturefd LLC grew its position in shares of Boston Beer by 483.7% in the 1st quarter. Signaturefd LLC now owns 251 shares of the company's stock worth $60,000 after buying an additional 208 shares during the last quarter. 81.13% of the stock is owned by institutional investors.

Boston Beer Trading Down 1.6%

Boston Beer stock traded down $3.50 on Wednesday, hitting $219.50. 294,348 shares of the stock traded hands, compared to its average volume of 208,913. The Boston Beer Company, Inc. has a 1 year low of $185.34 and a 1 year high of $329.55. The firm has a market cap of $2.45 billion, a P/E ratio of 30.96, a price-to-earnings-growth ratio of 1.90 and a beta of 0.82. The business's fifty day simple moving average is $211.65 and its 200 day simple moving average is $224.12.

Boston Beer (NYSE:SAM - Get Free Report) last released its 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. Boston Beer had a net margin of 3.65% and a return on equity of 15.15%. The firm had revenue of $587.95 million for the quarter, compared to the consensus estimate of $599.18 million. During the same period in the prior year, the firm earned $4.39 EPS. The company'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. As a group, analysts predict that The Boston Beer Company, Inc. will post 9.29 earnings per share for the current year.

Insiders Place Their Bets

In other Boston Beer news, VP Annette N. Fritsch sold 600 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $219.24, for a total transaction of $131,544.00. Following the completion of the transaction, the vice president owned 9,715 shares of the company's stock, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 26.10% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on SAM. 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 note on Friday, July 25th. The Goldman Sachs Group decreased their price objective on shares of Boston Beer from $219.00 to $187.00 and set a "sell" rating for the company in a report on Monday, June 23rd. UBS Group dropped their target price on shares of Boston Beer from $275.00 to $214.00 and set a "neutral" rating for the company in a research report on Thursday, July 17th. Citigroup cut their target price on shares of Boston Beer from $285.00 to $230.00 and set a "buy" rating on the stock in a research note on Tuesday, July 15th. 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 research report on Monday, July 28th. Two analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average 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.