Global Alpha Capital Management Ltd. Acquires 1,900 Shares of The Boston Beer Company, Inc. (NYSE:SAM)

Key Points

• Global Alpha Capital Management Ltd. increased its stake in The Boston Beer Company by 2.4% during the first quarter, now owning 79,734 shares valued at approximately $19 million.
• Several institutional investors have also increased their holdings in Boston Beer, with a total of 81.13% of the stock owned by institutions.
• Analysts have mixed ratings on Boston Beer, with consensus suggesting a "Hold" rating and a price target of approximately $258.09.

Global Alpha Capital Management Ltd. boosted its holdings in The Boston Beer Company, Inc. (NYSE:SAM - Free Report) by 2.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 79,734 shares of the company's stock after acquiring an additional 1,900 shares during the quarter. Global Alpha Capital Management Ltd. owned 0.72% of Boston Beer worth $19,044,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in SAM. Raymond James Financial Inc. bought a new position in Boston Beer in the 4th quarter valued at about $243,000. National Bank of Canada FI lifted its position in shares of Boston Beer by 42.9% during the 4th quarter. National Bank of Canada FI now owns 1,133 shares of the company's stock worth $340,000 after buying an additional 340 shares in the last quarter. Cerity Partners LLC lifted its position in shares of Boston Beer by 21.7% during the 4th quarter. Cerity Partners LLC now owns 11,574 shares of the company's stock worth $3,467,000 after buying an additional 2,062 shares in the last quarter. Bank of Montreal Can lifted its position in shares of Boston Beer by 7.3% during the 4th quarter. Bank of Montreal Can now owns 1,001 shares of the company's stock worth $300,000 after buying an additional 68 shares in the last quarter. Finally, Sterling Capital Management LLC lifted its position in shares of Boston Beer by 45.7% during the 4th quarter. Sterling Capital Management LLC now owns 453 shares of the company's stock worth $136,000 after buying an additional 142 shares in the last quarter. Institutional investors own 81.13% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Cfra Research raised shares of Boston Beer from a "moderate sell" rating to a "moderate buy" rating in a research report on Thursday, April 24th. Piper Sandler dropped 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 report on Thursday, April 17th. The Goldman Sachs Group dropped 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 target price on shares of Boston Beer in a research report on Tuesday, April 22nd. Finally, Sanford C. Bernstein set a $230.00 price target on shares of Boston Beer and gave the stock a "market perform" rating in a report on Monday, July 28th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $258.09.

Boston Beer Trading Down 1.6%

Boston Beer stock opened at $217.87 on Friday. 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 capitalization of $2.43 billion, a price-to-earnings ratio of 30.73, a P/E/G ratio of 1.89 and a beta of 0.84. The firm has a 50 day simple moving average of $205.41 and a 200 day simple moving average of $227.21.

Boston Beer (NYSE:SAM - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The company reported $5.45 earnings per share for the quarter, beating analysts' consensus estimates of $4.37 by $1.08. Boston Beer had a net margin of 3.65% and a return on equity of 15.15%. The business had revenue of $587.95 million during the quarter, compared to analyst estimates of $599.18 million. During the same period in the previous year, the business earned $4.39 EPS. Boston Beer's revenue was up 1.5% compared to the same quarter last year. On average, equities research analysts forecast 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.

Want to see what other hedge funds are holding SAM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Boston Beer Company, Inc. (NYSE:SAM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.