Global Alpha Capital Management Ltd. increased its position in The Boston Beer Company, Inc. (NYSE:SAM - Free Report) by 2.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 79,734 shares of the company's stock after purchasing an additional 1,900 shares during the quarter. Global Alpha Capital Management Ltd. owned approximately 0.72% of Boston Beer worth $19,044,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Rossby Financial LCC acquired a new position in Boston Beer in the 1st quarter valued at about $25,000. GeoWealth Management LLC acquired a new position in shares of Boston Beer during the 4th quarter worth approximately $35,000. First Horizon Advisors Inc. grew its position in shares of Boston Beer by 24.4% during the 1st quarter. First Horizon Advisors Inc. now owns 214 shares of the company's stock worth $51,000 after purchasing an additional 42 shares in the last quarter. True Wealth Design LLC grew its position in shares of Boston Beer by 44.1% during the 4th quarter. True Wealth Design LLC now owns 232 shares of the company's stock worth $70,000 after purchasing an additional 71 shares in the last quarter. Finally, Signaturefd LLC grew its position in shares of Boston Beer by 483.7% during the 1st quarter. Signaturefd LLC now owns 251 shares of the company's stock worth $60,000 after purchasing an additional 208 shares in the last quarter. 81.13% of the stock is owned by institutional investors.
Analyst Ratings Changes
SAM has been the subject of several research reports. 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 research note on Friday, July 25th. Piper Sandler decreased their price objective 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. Royal Bank Of Canada restated a "sector perform" rating and issued a $279.00 price target on shares of Boston Beer in a report on Tuesday, April 22nd. Cfra Research raised shares of Boston Beer from a "moderate sell" rating to a "moderate buy" rating in a research note on Thursday, April 24th. Finally, Citigroup lowered their price objective on shares of Boston Beer from $285.00 to $230.00 and set a "buy" rating on the stock in a research report on Tuesday, July 15th. One investment 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's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $258.09.
View Our Latest Report on Boston Beer
Boston Beer Trading Up 1.8%
NYSE SAM traded up $3.89 on Wednesday, reaching $224.64. 127,344 shares of the stock were exchanged, compared to its average volume of 225,602. The Boston Beer Company, Inc. has a one year low of $185.34 and a one year high of $329.55. The firm has a market capitalization of $2.50 billion, a PE ratio of 31.68, a PEG ratio of 1.82 and a beta of 0.84. The company's 50-day simple moving average is $205.21 and its two-hundred day simple moving average is $226.66.
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. Sell-side analysts forecast that The Boston Beer Company, Inc. will post 9.29 earnings per share for the current fiscal year.
Insider Activity at Boston Beer
In related news, VP Annette N. Fritsch sold 600 shares of the company's stock in a transaction dated Friday, August 8th. The shares were 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 directly owned 9,715 shares of the company's stock, valued at $2,129,916.60. This represents a 5.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 26.10% of the company's stock.
Boston Beer Profile
(
Free Report)
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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