Man Group plc Decreases Stake in The Boston Beer Company, Inc. (NYSE:SAM)

Man Group plc lessened its holdings in shares of The Boston Beer Company, Inc. (NYSE:SAM - Free Report) by 47.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,692 shares of the company's stock after selling 5,200 shares during the period. Man Group plc's holdings in Boston Beer were worth $1,707,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the business. Lazard Asset Management LLC raised its holdings in shares of Boston Beer by 10.3% during the fourth quarter. Lazard Asset Management LLC now owns 515 shares of the company's stock worth $153,000 after purchasing an additional 48 shares during the last quarter. First Horizon Advisors Inc. raised its holdings in shares of Boston Beer by 42.1% during the fourth quarter. First Horizon Advisors Inc. now owns 172 shares of the company's stock worth $52,000 after purchasing an additional 51 shares during the last quarter. Cetera Investment Advisers raised its holdings in shares of Boston Beer by 4.6% during the fourth quarter. Cetera Investment Advisers now owns 1,269 shares of the company's stock worth $381,000 after purchasing an additional 56 shares during the last quarter. Exchange Traded Concepts LLC raised its holdings in shares of Boston Beer by 2.5% during the fourth quarter. Exchange Traded Concepts LLC now owns 2,630 shares of the company's stock worth $789,000 after purchasing an additional 65 shares during the last quarter. Finally, Bank of Montreal Can raised its holdings in shares of Boston Beer by 7.3% during the fourth quarter. Bank of Montreal Can now owns 1,001 shares of the company's stock worth $300,000 after purchasing an additional 68 shares during the last quarter. Hedge funds and other institutional investors own 81.13% of the company's stock.

Boston Beer Stock Up 1.4%

Shares of NYSE SAM traded up $3.30 during trading on Tuesday, hitting $235.36. The company had a trading volume of 159,827 shares, compared to its average volume of 164,030. The stock has a fifty day simple moving average of $240.35 and a two-hundred day simple moving average of $260.94. The Boston Beer Company, Inc. has a fifty-two week low of $215.10 and a fifty-two week high of $339.77. The firm has a market capitalization of $2.62 billion, a price-to-earnings ratio of 34.61, a price-to-earnings-growth ratio of 1.23 and a beta of 1.14.

Boston Beer (NYSE:SAM - Get Free Report) last announced its earnings results on Thursday, April 24th. The company reported $2.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $1.38. The business had revenue of $481.36 million for the quarter, compared to analyst estimates of $436.27 million. Boston Beer had a net margin of 3.82% and a return on equity of 11.76%. The company's revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter last year, the business earned $1.04 earnings per share. On average, analysts anticipate that The Boston Beer Company, Inc. will post 9.29 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SAM has been the topic of several analyst reports. Roth Mkm restated a "buy" rating and set a $349.00 price target (down previously from $389.00) on shares of Boston Beer in a research report on Wednesday, February 26th. Piper Sandler dropped their price target 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. Needham & Company LLC restated a "hold" rating on shares of Boston Beer in a research report on Friday, April 25th. Berenberg Bank initiated coverage on shares of Boston Beer in a research report on Wednesday, April 2nd. They set a "hold" rating and a $281.10 price target on the stock. Finally, Morgan Stanley dropped their price target on shares of 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. 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, the company presently has an average rating of "Hold" and a consensus 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.