Millennium Management LLC Purchases 91,667 Shares of The Boston Beer Company, Inc. $SAM

Key Points

• Millennium Management LLC increased its stake in The Boston Beer Company by 97.3%, now holding approximately 185,898 shares worth around $44.4 million.
• Insider trading activity included VP Annette N. Fritsch selling 600 shares at an average price of $219.24, which represented a 5.82% decrease in her position.
• Boston Beer reported $5.45 earnings per share for the last quarter, exceeding analyst expectations and setting FY 2025 guidance of 8.000-10.500 EPS.

Millennium Management LLC lifted its holdings in shares of The Boston Beer Company, Inc. (NYSE:SAM - Free Report) by 97.3% in the first quarter, according to its most recent filing with the SEC. The firm owned 185,898 shares of the company's stock after acquiring an additional 91,667 shares during the period. Millennium Management LLC owned approximately 1.67% of Boston Beer worth $44,400,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Boston Beer by 1.8% in the first quarter. Vanguard Group Inc. now owns 865,251 shares of the company's stock worth $206,657,000 after purchasing an additional 15,563 shares in the last quarter. Armistice Capital LLC grew its stake in shares of Boston Beer by 72.7% in the 1st quarter. Armistice Capital LLC now owns 210,553 shares of the company's stock valued at $50,288,000 after purchasing an additional 88,624 shares during the period. Invesco Ltd. raised its holdings in shares of Boston Beer by 10.3% in the 1st quarter. Invesco Ltd. now owns 109,259 shares of the company's stock worth $26,095,000 after buying an additional 10,241 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Boston Beer by 5.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 99,457 shares of the company's stock worth $23,754,000 after buying an additional 5,101 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of Boston Beer by 7.6% during the 1st quarter. Northern Trust Corp now owns 86,791 shares of the company's stock worth $20,729,000 after buying an additional 6,159 shares during the period. Institutional investors own 81.13% of the company's stock.

Wall Street Analysts Forecast Growth

SAM has been the topic of a number of analyst reports. The Goldman Sachs Group lowered their price target on Boston Beer from $219.00 to $187.00 and set a "sell" rating on the stock in a research report on Monday, June 23rd. Citigroup lowered their target price on shares of Boston Beer from $285.00 to $230.00 and set a "buy" rating on the stock in a report on Tuesday, July 15th. Wall Street Zen cut shares of Boston Beer from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Sanford C. Bernstein set a $230.00 price target on shares of Boston Beer and gave the company a "market perform" rating in a report on Monday, July 28th. Finally, Evercore ISI decreased their price objective on shares of Boston Beer from $275.00 to $250.00 and set an "in-line" rating on the stock in a research note on Friday, July 25th. Two research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $258.09.

Boston Beer Trading Down 1.5%

Shares of Boston Beer stock traded down $3.31 during trading on Friday, reaching $216.67. The company's stock had a trading volume of 191,157 shares, compared to its average volume of 212,479. The stock has a 50-day moving average price of $212.34 and a two-hundred day moving average price of $223.91. The stock has a market capitalization of $2.42 billion, a P/E ratio of 30.56, a price-to-earnings-growth ratio of 1.88 and a beta of 0.82. The Boston Beer Company, Inc. has a one year low of $185.34 and a one year high of $329.55.

Boston Beer (NYSE:SAM - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The company reported $5.45 EPS for the quarter, topping analysts' consensus estimates 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 analyst estimates of $599.18 million. During the same quarter in the prior year, the firm earned $4.39 EPS. The company's revenue was up 1.5% on a year-over-year basis. Boston Beer has set its FY 2025 guidance at 8.000-10.500 EPS. As a group, sell-side analysts anticipate that The Boston Beer Company, Inc. will post 9.29 EPS for the current fiscal year.

Insider Buying and Selling at Boston Beer

In related news, VP Annette N. Fritsch sold 600 shares of the firm's stock in a transaction that occurred on 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 owned 9,715 shares of the company's stock, valued at $2,129,916.60. This trade represents a 5.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 26.10% of the stock is currently owned by corporate insiders.

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.