The Boston Beer Company, Inc. (NYSE:SAM) Shares Acquired by Ontario Teachers Pension Plan Board

Key Points

• Ontario Teachers Pension Plan Board increased its holdings in The Boston Beer Company by 125.6% in Q1, owning 10,621 shares valued at approximately $2.54 million.
• Institutional investors and hedge funds now own 81.13% of Boston Beer, reflecting significant market interest and participation.
• Boston Beer reported $5.45 EPS for the latest quarter, surpassing analysts' expectations, although revenue of $587.95 million fell short of estimates.

Ontario Teachers Pension Plan Board raised its position in The Boston Beer Company, Inc. (NYSE:SAM - Free Report) by 125.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,621 shares of the company's stock after buying an additional 5,914 shares during the period. Ontario Teachers Pension Plan Board owned about 0.10% of Boston Beer worth $2,537,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rossby Financial LCC acquired a new stake in shares of Boston Beer in the first quarter valued at about $25,000. GeoWealth Management LLC acquired a new position in Boston Beer during the fourth quarter worth about $35,000. First Horizon Advisors Inc. boosted its position in Boston Beer by 24.4% during the first quarter. First Horizon Advisors Inc. now owns 214 shares of the company's stock worth $51,000 after acquiring an additional 42 shares during the last quarter. True Wealth Design LLC boosted its position in Boston Beer by 44.1% during the fourth quarter. True Wealth Design LLC now owns 232 shares of the company's stock worth $70,000 after acquiring an additional 71 shares during the last quarter. Finally, Signaturefd LLC boosted its position in Boston Beer by 483.7% during the first quarter. Signaturefd LLC now owns 251 shares of the company's stock worth $60,000 after acquiring an additional 208 shares during the last quarter. Hedge funds and other institutional investors own 81.13% of the company's stock.

Insider Activity

In other news, VP Annette N. Fritsch sold 600 shares of the company's stock in a transaction 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 transaction, the vice president owned 9,715 shares in the company, valued at approximately $2,129,916.60. This represents a 5.82% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 26.10% of the company's stock.

Boston Beer Trading Up 2.6%

SAM traded up $5.55 during trading hours on Tuesday, hitting $219.42. 83,206 shares of the company's stock were exchanged, compared to its average volume of 225,112. The Boston Beer Company, Inc. has a 12-month low of $185.34 and a 12-month high of $329.55. The firm has a 50 day moving average of $205.28 and a 200 day moving average of $226.70. The firm has a market cap of $2.45 billion, a P/E ratio of 30.95, a price-to-earnings-growth ratio of 1.85 and a beta of 0.84.

Boston Beer (NYSE:SAM - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The company reported $5.45 EPS for the quarter, topping the consensus estimate of $4.37 by $1.08. Boston Beer had a net margin of 3.65% and a return on equity of 15.15%. The company had revenue of $587.95 million during the quarter, compared to analysts' expectations of $599.18 million. During the same quarter in the previous year, the business posted $4.39 EPS. The firm's revenue was up 1.5% on a year-over-year basis. As a group, research analysts expect that The Boston Beer Company, Inc. will post 9.29 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on SAM shares. Needham & Company LLC restated a "hold" rating on shares of Boston Beer in a research report on Friday, April 25th. Sanford C. Bernstein set a $230.00 price target on shares of Boston Beer and gave the stock a "market perform" rating in a research report on Monday, July 28th. Morgan Stanley reduced their target price on shares of Boston Beer from $270.00 to $245.00 and set an "equal weight" rating on the stock in a research note on Friday, July 25th. UBS Group reduced their price target on shares of Boston Beer from $275.00 to $214.00 and set a "neutral" rating on the stock in a research note on Thursday, July 17th. Finally, Citigroup reduced their price target on shares of Boston Beer from $285.00 to $230.00 and set a "buy" rating on the stock in a research note on Tuesday, July 15th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $258.09.

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.