The Boston Beer Company, Inc. (NYSE:SAM) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC lifted its stake in shares of The Boston Beer Company, Inc. (NYSE:SAM - Free Report) by 7,861.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,270 shares of the company's stock after acquiring an additional 10,141 shares during the quarter. GAMMA Investing LLC owned approximately 0.09% of Boston Beer worth $2,453,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Norges Bank bought a new position in Boston Beer in the fourth quarter worth approximately $30,741,000. J. Goldman & Co LP boosted its position in Boston Beer by 251.8% during the 4th quarter. J. Goldman & Co LP now owns 119,687 shares of the company's stock valued at $35,904,000 after acquiring an additional 85,669 shares in the last quarter. Cooper Creek Partners Management LLC bought a new stake in Boston Beer during the 4th quarter valued at $25,054,000. Global Alpha Capital Management Ltd. bought a new stake in Boston Beer during the 4th quarter valued at $23,349,000. Finally, Freestone Grove Partners LP bought a new stake in Boston Beer during the 4th quarter valued at $21,412,000. 81.13% of the stock is owned by hedge funds and other institutional investors.

Boston Beer Price Performance

NYSE SAM traded down $1.03 on Monday, hitting $207.49. The stock had a trading volume of 256,993 shares, compared to its average volume of 156,964. The Boston Beer Company, Inc. has a 52-week low of $205.21 and a 52-week high of $329.55. The business's fifty day moving average price is $235.66 and its 200 day moving average price is $251.16. The stock has a market cap of $2.31 billion, a price-to-earnings ratio of 30.51, a price-to-earnings-growth ratio of 1.23 and a beta of 1.05.

Boston Beer (NYSE:SAM - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The company reported $2.16 EPS for the quarter, topping the consensus estimate of $0.78 by $1.38. Boston Beer had a net margin of 3.82% and a return on equity of 11.76%. The business had revenue of $481.36 million during the quarter, compared to the consensus estimate of $436.27 million. During the same period in the previous year, the firm posted $1.04 earnings per share. The business's revenue for the quarter was up 6.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Boston Beer Company, Inc. will post 9.29 EPS for the current year.

Analyst Ratings Changes

Several analysts have issued reports on SAM shares. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $279.00 target price on shares of Boston Beer in a research report on Tuesday, April 22nd. Berenberg Bank started coverage on Boston Beer in a research report on Wednesday, April 2nd. They set a "hold" rating and a $281.10 target price on the stock. Morgan Stanley dropped their target price on Boston Beer from $290.00 to $270.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 26th. Piper Sandler cut their price target on shares of Boston Beer from $240.00 to $230.00 and set a "neutral" rating on the stock in a report on Thursday, April 17th. Finally, Cfra Research raised shares of Boston Beer from a "moderate sell" rating to a "moderate buy" rating in a report on Thursday, April 24th. Eight investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $286.12.

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.