Gagnon Securities LLC Raises Stake in The Boston Beer Company, Inc. (NYSE:SAM)

Key Points

• Gagnon Securities LLC increased its stake in The Boston Beer Company by 9.5% in the first quarter, owning 24,516 shares now valued at approximately $5.86 million.
• Boston Beer reported an earnings per share (EPS) of $5.45, exceeding the consensus estimate by $1.08, with quarterly revenue of $587.95 million.
• Analyst ratings for Boston Beer indicate a consensus of Hold with an average price target of $258.09, following recent adjustments from various brokerages.

Gagnon Securities LLC boosted its holdings in shares of The Boston Beer Company, Inc. (NYSE:SAM - Free Report) by 9.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,516 shares of the company's stock after acquiring an additional 2,136 shares during the period. Boston Beer accounts for about 1.3% of Gagnon Securities LLC's investment portfolio, making the stock its 27th largest holding. Gagnon Securities LLC owned about 0.22% of Boston Beer worth $5,855,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. First Horizon Advisors Inc. grew its stake in shares of Boston Beer by 24.4% in the first quarter. First Horizon Advisors Inc. now owns 214 shares of the company's stock worth $51,000 after acquiring an additional 42 shares during the period. Lazard Asset Management LLC grew its stake in shares of Boston Beer by 10.3% in the fourth quarter. Lazard Asset Management LLC now owns 515 shares of the company's stock worth $153,000 after acquiring an additional 48 shares during the period. Cetera Investment Advisers grew its position in Boston Beer by 4.6% during the fourth quarter. Cetera Investment Advisers now owns 1,269 shares of the company's stock valued at $381,000 after buying an additional 56 shares during the period. US Bancorp DE grew its position in Boston Beer by 23.5% during the first quarter. US Bancorp DE now owns 336 shares of the company's stock valued at $80,000 after buying an additional 64 shares during the period. Finally, Bank of Montreal Can grew its position in Boston Beer by 7.3% during the fourth quarter. Bank of Montreal Can now owns 1,001 shares of the company's stock valued at $300,000 after buying an additional 68 shares during the period. 81.13% of the stock is owned by hedge funds and other institutional investors.

Boston Beer Stock Performance

SAM stock opened at $218.79 on Thursday. The Boston Beer Company, Inc. has a one year low of $185.34 and a one year high of $329.55. The company's fifty day moving average price is $205.83 and its 200-day moving average price is $227.67. The company has a market capitalization of $2.44 billion, a PE ratio of 30.86, a price-to-earnings-growth ratio of 1.85 and a beta of 0.84.

Boston Beer (NYSE:SAM - Get Free Report) last released its earnings results on Thursday, July 24th. The company reported $5.45 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 firm 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 earned $4.39 earnings per share. The company's quarterly revenue was up 1.5% compared to the same quarter last year. On average, research analysts predict that The Boston Beer Company, Inc. will post 9.29 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently issued reports on SAM. Citigroup cut their target price on shares of Boston Beer from $285.00 to $230.00 and set a "buy" rating for the company in a research report on Tuesday, July 15th. Piper Sandler cut their target price on shares of Boston Beer from $240.00 to $230.00 and set a "neutral" rating for the company in a research report on Thursday, April 17th. Cfra Research upgraded shares of Boston Beer from a "moderate sell" rating to a "moderate buy" rating in a research report on Thursday, April 24th. Needham & Company LLC restated a "hold" rating on shares of Boston Beer in a research report on Friday, April 25th. Finally, The Goldman Sachs Group dropped their price target on shares of Boston Beer from $219.00 to $187.00 and set a "sell" rating for the company in a research report on Monday, June 23rd. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Boston Beer presently has a consensus rating of "Hold" and an average 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.

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