Edgestream Partners L.P. Has $1.29 Million Stock Holdings in The Boston Beer Company, Inc. (NYSE:SAM)

Edgestream Partners L.P. lowered its holdings in shares of The Boston Beer Company, Inc. (NYSE:SAM - Free Report) by 44.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,395 shares of the company's stock after selling 4,307 shares during the quarter. Edgestream Partners L.P.'s holdings in Boston Beer were worth $1,289,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of SAM. New York State Common Retirement Fund increased its holdings in shares of Boston Beer by 4.4% during the 1st quarter. New York State Common Retirement Fund now owns 5,305 shares of the company's stock worth $1,267,000 after purchasing an additional 225 shares during the period. Envestnet Asset Management Inc. increased its stake in Boston Beer by 47.0% in the first quarter. Envestnet Asset Management Inc. now owns 7,917 shares of the company's stock valued at $1,891,000 after acquiring an additional 2,531 shares during the period. Calamos Advisors LLC increased its stake in Boston Beer by 70.8% in the first quarter. Calamos Advisors LLC now owns 46,071 shares of the company's stock valued at $11,004,000 after acquiring an additional 19,090 shares during the period. Principal Financial Group Inc. increased its stake in Boston Beer by 0.4% in the first quarter. Principal Financial Group Inc. now owns 19,912 shares of the company's stock valued at $4,756,000 after acquiring an additional 79 shares during the period. Finally, Teacher Retirement System of Texas boosted its position in Boston Beer by 34.8% in the first quarter. Teacher Retirement System of Texas now owns 6,472 shares of the company's stock valued at $1,546,000 after buying an additional 1,671 shares in the last quarter. Institutional investors own 81.13% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented on SAM shares. Needham & Company LLC restated a "hold" rating on shares of Boston Beer in a research report on Friday, April 25th. Citigroup reduced 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 report on Tuesday, July 15th. The Goldman Sachs Group reduced their target price on shares of Boston Beer from $219.00 to $187.00 and set a "sell" rating on the stock in a research report on Monday, June 23rd. Royal Bank Of Canada reissued a "sector perform" rating and set a $279.00 price target on shares of Boston Beer in a research note on Tuesday, April 22nd. Finally, Berenberg Bank assumed coverage on shares of Boston Beer in a research note on Wednesday, April 2nd. They set a "hold" rating and a $281.10 price target for the company. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, Boston Beer has an average rating of "Hold" and a consensus target price of $261.10.

Boston Beer Stock Down 1.4%

SAM traded down $2.65 during trading hours on Friday, hitting $191.95. 178,244 shares of the company's stock were exchanged, compared to its average volume of 172,062. The Boston Beer Company, Inc. has a 1-year low of $185.34 and a 1-year high of $329.55. The stock's 50-day moving average is $213.45 and its two-hundred day moving average is $232.88. The stock has a market cap of $2.14 billion, a price-to-earnings ratio of 31.83, a PEG ratio of 1.42 and a beta of 0.99.

Boston Beer (NYSE:SAM - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The company reported $2.16 EPS for the quarter, beating analysts' consensus estimates of $0.78 by $1.38. The firm had revenue of $481.36 million during the quarter, compared to analysts' expectations of $436.27 million. Boston Beer had a net margin of 3.30% and a return on equity of 13.81%. The company's revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.04 earnings per share. On average, equities research analysts anticipate that The Boston Beer Company, Inc. will post 9.29 EPS 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.