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

Man Group plc lowered its position 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 & Exchange Commission. 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 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in SAM. Blue Trust Inc. lifted its stake in Boston Beer by 405.6% during the fourth quarter. Blue Trust Inc. now owns 91 shares of the company's stock worth $26,000 after purchasing an additional 73 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in Boston Beer by 2,225.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 93 shares of the company's stock worth $28,000 after purchasing an additional 89 shares during the last quarter. GeoWealth Management LLC bought a new stake in Boston Beer during the fourth quarter worth about $35,000. First Horizon Advisors Inc. lifted its stake in 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. Finally, US Bancorp DE lifted its stake in shares of Boston Beer by 67.9% in the 4th quarter. US Bancorp DE now owns 272 shares of the company's stock valued at $82,000 after acquiring an additional 110 shares during the last quarter. Institutional investors own 81.13% of the company's stock.

Boston Beer Price Performance

SAM traded down $0.36 during midday trading on Thursday, reaching $228.19. 16,539 shares of the company's stock traded hands, compared to its average volume of 163,224. The firm has a fifty day moving average of $240.52 and a two-hundred day moving average of $260.54. The stock has a market capitalization of $2.54 billion, a price-to-earnings ratio of 33.73, a P/E/G ratio of 1.23 and a beta of 1.14. The Boston Beer Company, Inc. has a 52 week low of $215.10 and a 52 week high of $339.77.

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

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on SAM shares. Needham & Company LLC reissued a "hold" rating on shares of Boston Beer in a research note on Friday, April 25th. Wall Street Zen raised Boston Beer from a "hold" rating to a "buy" rating in a research note on Friday, April 25th. Roth Mkm reissued a "buy" rating and issued a $349.00 target price (down previously from $389.00) on shares of Boston Beer in a research note on Wednesday, February 26th. Royal Bank of Canada reissued a "sector perform" rating and issued a $279.00 target price on shares of Boston Beer in a research note on Tuesday, April 22nd. Finally, Citigroup boosted their target price on Boston Beer from $280.00 to $285.00 and gave the company a "buy" rating in a research note on Monday, April 14th. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $286.12.

Boston Beer Company 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.