The Boston Beer Company, Inc. (NYSE:SAM) Position Lifted by Gagnon Securities LLC

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 lifted its stake in The Boston Beer Company, Inc. (NYSE:SAM - Free Report) by 9.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,516 shares of the company's stock after purchasing 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 biggest holding. Gagnon Securities LLC owned about 0.22% of Boston Beer worth $5,855,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently modified their holdings of the company. J. Goldman & Co LP raised its holdings in shares of 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. Cooper Creek Partners Management LLC acquired a new stake in Boston Beer during the fourth quarter valued at $25,054,000. Freestone Grove Partners LP acquired a new stake in Boston Beer during the fourth quarter valued at $21,412,000. AQR Capital Management LLC grew its position in shares of Boston Beer by 19.8% in the fourth quarter. AQR Capital Management LLC now owns 422,217 shares of the company's stock valued at $125,821,000 after purchasing an additional 69,778 shares during the period. Finally, T. Rowe Price Investment Management Inc. increased its stake in shares of Boston Beer by 4.4% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 703,480 shares of the company's stock worth $211,030,000 after acquiring an additional 29,412 shares during the last quarter. Institutional investors own 81.13% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on SAM. Piper Sandler cut their target price on shares of Boston Beer from $240.00 to $230.00 and set a "neutral" rating on the stock in a research note on Thursday, April 17th. Sanford C. Bernstein set a $230.00 price target on shares of Boston Beer and gave the stock a "market perform" rating in a research report on Monday, July 28th. Wall Street Zen lowered shares of Boston Beer from a "buy" rating to a "hold" rating in a report on Friday, June 27th. The Goldman Sachs Group dropped their price target 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. Finally, UBS Group cut their target price on shares of Boston Beer from $275.00 to $214.00 and set a "neutral" rating on the stock in a research note on Thursday, July 17th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $258.09.

Insider Activity

In other Boston Beer news, VP Annette N. Fritsch sold 600 shares of the business's stock in a transaction that occurred 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 completion of the sale, the vice president owned 9,715 shares in the company, valued at approximately $2,129,916.60. The trade was a 5.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 26.10% of the company's stock.

Boston Beer Trading Down 2.2%

Shares of SAM stock traded down $4.68 during trading hours on Monday, reaching $212.80. 96,153 shares of the stock were exchanged, compared to its average volume of 224,723. The Boston Beer Company, Inc. has a 12-month low of $185.34 and a 12-month high of $329.55. The company's 50-day moving average price is $205.41 and its 200-day moving average price is $226.94. The firm has a market capitalization of $2.37 billion, a price-to-earnings ratio of 30.10, a price-to-earnings-growth ratio of 1.85 and a beta of 0.84.

Boston Beer (NYSE:SAM - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The company reported $5.45 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.37 by $1.08. The business had revenue of $587.95 million for the quarter, compared to analyst estimates of $599.18 million. Boston Beer had a net margin of 3.65% and a return on equity of 15.15%. Boston Beer's revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.39 EPS. On average, sell-side analysts expect that The Boston Beer Company, Inc. will post 9.29 EPS for the current year.

Boston Beer 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.