Millennium Management LLC Raises Stock Position in 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 increased its stake in The Boston Beer Company, Inc. (NYSE:SAM - Free Report) by 97.3% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 185,898 shares of the company's stock after acquiring an additional 91,667 shares during the period. Millennium Management LLC owned about 1.67% of Boston Beer worth $44,400,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SAM. Armistice Capital LLC grew its position in Boston Beer by 72.7% in the first quarter. Armistice Capital LLC now owns 210,553 shares of the company's stock worth $50,288,000 after acquiring an additional 88,624 shares in the last quarter. Jump Financial LLC grew its position in Boston Beer by 2,695.2% in the first quarter. Jump Financial LLC now owns 37,036 shares of the company's stock worth $8,846,000 after acquiring an additional 35,711 shares in the last quarter. Trexquant Investment LP grew its position in Boston Beer by 147.8% in the first quarter. Trexquant Investment LP now owns 46,434 shares of the company's stock worth $11,090,000 after acquiring an additional 27,698 shares in the last quarter. Point72 Asset Management L.P. grew its position in Boston Beer by 67.4% in the fourth quarter. Point72 Asset Management L.P. now owns 56,769 shares of the company's stock worth $17,030,000 after acquiring an additional 22,854 shares in the last quarter. Finally, Lighthouse Investment Partners LLC purchased a new position in Boston Beer in the fourth quarter worth $6,390,000. 81.13% of the stock is currently owned by hedge funds and other institutional investors.

Boston Beer Stock Down 1.5%

Shares of NYSE:SAM traded down $3.31 during midday trading on Friday, hitting $216.67. 191,157 shares of the stock traded hands, compared to its average volume of 210,461. The stock has a market capitalization of $2.42 billion, a PE ratio of 30.56, a P/E/G ratio of 1.85 and a beta of 0.82. The business's 50 day moving average is $212.34 and its two-hundred day moving average is $223.65. 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, beating the consensus estimate of $4.37 by $1.08. The firm had revenue of $587.95 million during the quarter, compared to the consensus estimate of $599.18 million. Boston Beer had a net margin of 3.65% and a return on equity of 15.15%. The company's quarterly revenue was up 1.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.39 earnings per share. Boston Beer has set its FY 2025 guidance at 8.000-10.500 EPS. As a group, sell-side analysts forecast that The Boston Beer Company, Inc. will post 9.29 earnings per share for the current year.

Insider Activity at Boston Beer

In other news, VP Annette N. Fritsch sold 600 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $219.24, for a total transaction of $131,544.00. Following the sale, the vice president owned 9,715 shares in the company, valued at $2,129,916.60. This represents a 5.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 26.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

SAM has been the subject of several research reports. Wall Street Zen lowered shares of Boston Beer from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. UBS Group cut their target price on shares of Boston Beer from $275.00 to $214.00 and set a "neutral" rating for the company in a research report on Thursday, July 17th. Citigroup cut their price target on shares of Boston Beer from $285.00 to $230.00 and set a "buy" rating for the company in a research report on Tuesday, July 15th. Morgan Stanley cut their price target on shares of Boston Beer from $270.00 to $245.00 and set an "equal weight" rating for the company in a research report on Friday, July 25th. Finally, The Goldman Sachs Group cut their price target on shares of Boston Beer from $219.00 to $187.00 and set a "sell" rating for the company in a research report on Monday, June 23rd. Two research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price 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.