Envestnet Asset Management Inc. Increases Stake in The Boston Beer Company, Inc. (NYSE:SAM)

Envestnet Asset Management Inc. lifted its holdings in The Boston Beer Company, Inc. (NYSE:SAM - Free Report) by 47.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,917 shares of the company's stock after buying an additional 2,531 shares during the period. Envestnet Asset Management Inc. owned approximately 0.07% of Boston Beer worth $1,891,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of SAM. Rossby Financial LCC purchased a new position in Boston Beer during the first quarter worth about $25,000. GeoWealth Management LLC purchased a new position in Boston Beer during the fourth quarter worth about $35,000. First Horizon Advisors Inc. raised its stake in Boston Beer by 24.4% during the first quarter. First Horizon Advisors Inc. now owns 214 shares of the company's stock worth $51,000 after purchasing an additional 42 shares during the period. True Wealth Design LLC raised its stake in Boston Beer by 44.1% during the fourth quarter. True Wealth Design LLC now owns 232 shares of the company's stock worth $70,000 after purchasing an additional 71 shares during the period. Finally, Farther Finance Advisors LLC raised its stake in Boston Beer by 602.4% during the first quarter. Farther Finance Advisors LLC now owns 295 shares of the company's stock worth $72,000 after purchasing an additional 253 shares during the period. 81.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SAM. Wall Street Zen downgraded shares of Boston Beer from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Evercore ISI dropped their price objective on shares of Boston Beer from $275.00 to $250.00 and set an "in-line" rating for the company in a report on Friday, July 25th. Sanford C. Bernstein set a $230.00 price objective on shares of Boston Beer and gave the company a "market perform" rating in a report on Monday. Morgan Stanley dropped their price objective on shares of Boston Beer from $270.00 to $245.00 and set an "equal weight" rating for the company in a report on Friday, July 25th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Boston Beer in a research note on Friday, April 25th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $258.09.

Boston Beer Trading Up 1.2%

Shares of NYSE:SAM traded up $2.47 on Friday, reaching $209.55. 474,339 shares of the company were exchanged, compared to its average volume of 223,014. 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 $2.34 billion, a price-to-earnings ratio of 29.56, a price-to-earnings-growth ratio of 1.81 and a beta of 0.99. The company has a 50-day moving average of $207.10 and a 200-day moving average of $228.74.

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 (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 analysts' expectations of $599.18 million. During the same period last year, the company earned $4.39 EPS. The firm's revenue for the quarter was up 1.5% compared to the same quarter last year. As a group, analysts forecast that The Boston Beer Company, Inc. will post 9.29 earnings per share for the current year.

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.