The Boston Beer Company, Inc. (NYSE:SAM) Stock Position Decreased by Legato Capital Management LLC

Legato Capital Management LLC lessened its stake in shares of The Boston Beer Company, Inc. (NYSE:SAM - Free Report) by 59.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,654 shares of the company's stock after selling 3,901 shares during the period. Legato Capital Management LLC's holdings in Boston Beer were worth $634,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. First Horizon Advisors Inc. boosted its stake in Boston Beer by 24.4% during the first quarter. First Horizon Advisors Inc. now owns 214 shares of the company's stock worth $51,000 after buying an additional 42 shares during the period. Lazard Asset Management LLC boosted its holdings in Boston Beer by 10.3% in the fourth quarter. Lazard Asset Management LLC now owns 515 shares of the company's stock valued at $153,000 after purchasing an additional 48 shares in the last quarter. Cetera Investment Advisers boosted its holdings in Boston Beer by 4.6% in the fourth quarter. Cetera Investment Advisers now owns 1,269 shares of the company's stock valued at $381,000 after purchasing an additional 56 shares in the last quarter. Bank of Montreal Can boosted its holdings in shares of Boston Beer by 7.3% in the fourth quarter. Bank of Montreal Can now owns 1,001 shares of the company's stock valued at $300,000 after acquiring an additional 68 shares during the period. Finally, True Wealth Design LLC boosted its holdings in shares of Boston Beer by 44.1% in the fourth quarter. True Wealth Design LLC now owns 232 shares of the company's stock valued at $70,000 after acquiring an additional 71 shares during the period. Hedge funds and other institutional investors own 81.13% of the company's stock.

Boston Beer Stock Performance

Shares of NYSE:SAM traded up $13.14 on Friday, hitting $214.95. The company's stock had a trading volume of 642,145 shares, compared to its average volume of 266,073. The Boston Beer Company, Inc. has a 12 month low of $185.34 and a 12 month high of $329.55. The company has a market capitalization of $2.40 billion, a price-to-earnings ratio of 30.32, a price-to-earnings-growth ratio of 1.49 and a beta of 0.99. The stock's 50-day moving average is $209.55 and its two-hundred day moving average is $230.33.

Boston Beer (NYSE:SAM - Get Free Report) last announced its earnings results on Thursday, July 24th. The company reported $5.45 EPS for the quarter, beating the consensus estimate of $4.37 by $1.08. The business had revenue of $587.95 million during the quarter, compared to the consensus estimate of $599.18 million. Boston Beer had a return on equity of 15.03% and a net margin of 3.65%. Boston Beer's revenue was up 1.5% compared to the same quarter last year. During the same period in the prior year, the business posted $4.39 earnings per share. Equities analysts expect that The Boston Beer Company, Inc. will post 9.29 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SAM. The Goldman Sachs Group cut their price objective on Boston Beer from $219.00 to $187.00 and set a "sell" rating for the company in a research report on Monday, June 23rd. Citigroup decreased their price target on Boston Beer from $285.00 to $230.00 and set a "buy" rating on the stock in a research note on Tuesday, July 15th. Evercore ISI reduced their price objective on Boston Beer from $275.00 to $250.00 and set an "in-line" rating on the stock in a research note on Friday. Needham & Company LLC reissued a "hold" rating on shares of Boston Beer in a research report on Friday, April 25th. Finally, Sanford C. Bernstein cut their target price on Boston Beer from $270.00 to $230.00 and set a "market perform" rating on the stock in a research report on Wednesday, July 9th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Boston Beer currently has an average rating of "Hold" and a consensus price target of $258.09.

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.