Point72 Asset Management L.P. Increases Holdings in The Boston Beer Company, Inc. (NYSE:SAM)

Point72 Asset Management L.P. lifted its position in The Boston Beer Company, Inc. (NYSE:SAM - Free Report) by 67.4% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 56,769 shares of the company's stock after purchasing an additional 22,854 shares during the period. Point72 Asset Management L.P. owned about 0.49% of Boston Beer worth $17,030,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in SAM. Barclays PLC grew its stake in shares of Boston Beer by 44.2% in the third quarter. Barclays PLC now owns 12,988 shares of the company's stock worth $3,753,000 after purchasing an additional 3,983 shares during the last quarter. Merit Financial Group LLC bought a new stake in shares of Boston Beer in the 4th quarter worth approximately $434,000. Kera Capital Partners Inc. purchased a new position in shares of Boston Beer during the fourth quarter valued at approximately $256,000. Aaron Wealth Advisors LLC increased its stake in shares of Boston Beer by 12.0% during the fourth quarter. Aaron Wealth Advisors LLC now owns 1,273 shares of the company's stock valued at $382,000 after buying an additional 136 shares during the period. Finally, 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 valued at $789,000 after acquiring an additional 65 shares in the last quarter. 81.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. 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 objective on the stock. Roth Mkm reaffirmed a "buy" rating and set a $349.00 target price (down previously from $389.00) on shares of Boston Beer in a research note on Wednesday, February 26th. Citigroup boosted their price target on shares of Boston Beer from $280.00 to $285.00 and gave the company a "buy" rating in a research report on Monday, April 14th. Morgan Stanley lowered their price objective on shares of Boston Beer from $290.00 to $270.00 and set an "equal weight" rating for the company in a report on Wednesday, February 26th. Finally, UBS Group upped their target price on Boston Beer from $265.00 to $279.00 and gave the stock a "neutral" rating in a report on Thursday, April 17th. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $286.12.

Boston Beer Trading Down 0.5%

SAM stock traded down $1.08 during midday trading on Friday, hitting $232.89. The company's stock had a trading volume of 29,486 shares, compared to its average volume of 163,783. The firm's 50-day moving average is $239.87 and its 200-day moving average is $262.52. The Boston Beer Company, Inc. has a 12 month low of $215.10 and a 12 month high of $339.77. The company has a market cap of $2.60 billion, a PE ratio of 34.26, a P/E/G ratio of 1.23 and a beta of 1.14.

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

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.