Mackenzie Financial Corp Invests $416,000 in The Boston Beer Company, Inc. (NYSE:SAM)

Mackenzie Financial Corp bought a new position in shares of The Boston Beer Company, Inc. (NYSE:SAM - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,386 shares of the company's stock, valued at approximately $416,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Entropy Technologies LP acquired a new position in Boston Beer in the fourth quarter valued at about $368,000. Legato Capital Management LLC purchased a new position in Boston Beer in the fourth quarter worth approximately $1,966,000. Charles Schwab Investment Management Inc. lifted its stake in Boston Beer by 5.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 94,356 shares of the company's stock worth $28,305,000 after acquiring an additional 4,675 shares during the last quarter. Norges Bank purchased a new position in Boston Beer in the fourth quarter worth approximately $30,741,000. Finally, Alberta Investment Management Corp lifted its stake in Boston Beer by 67.2% in the fourth quarter. Alberta Investment Management Corp now owns 11,540 shares of the company's stock worth $3,462,000 after acquiring an additional 4,640 shares during the last quarter. 81.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. UBS Group raised their price objective on shares of Boston Beer from $265.00 to $279.00 and gave the stock a "neutral" rating in a research report on Thursday, April 17th. Citigroup boosted their price objective on shares of Boston Beer from $280.00 to $285.00 and gave the stock a "buy" rating in a report on Monday, April 14th. Berenberg Bank began coverage on shares of Boston Beer in a research report on Wednesday, April 2nd. They set a "hold" rating and a $281.10 target price on the stock. Cfra Research raised shares of Boston Beer from a "moderate sell" rating to a "moderate buy" rating in a report on Thursday, April 24th. Finally, Piper Sandler decreased their price target on Boston Beer from $240.00 to $230.00 and set a "neutral" rating on the stock in a research note on Thursday, April 17th. Eight equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $286.12.

Boston Beer Stock Up 0.1%

Shares of Boston Beer stock traded up $0.25 on Friday, hitting $221.38. The company's stock had a trading volume of 163,772 shares, compared to its average volume of 155,142. The Boston Beer Company, Inc. has a 52-week low of $215.10 and a 52-week high of $329.55. The firm has a fifty day moving average price of $238.58 and a 200-day moving average price of $256.10. The company has a market capitalization of $2.47 billion, a P/E ratio of 32.56, a price-to-earnings-growth ratio of 1.23 and a beta of 1.05.

Boston Beer (NYSE:SAM - Get Free Report) last released 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 for the quarter, compared to analyst estimates of $436.27 million. During the same period in the previous year, the firm earned $1.04 EPS. The business's revenue for the quarter was up 6.5% compared to the same quarter last year. As a group, analysts expect that The Boston Beer Company, Inc. will post 9.29 earnings per share 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.