Quantedge Capital Pte Ltd Takes $2.40 Million Position in The Boston Beer Company, Inc. $SAM

Key Points

• Quantedge Capital Pte Ltd initiated a new position in Boston Beer during the first quarter, buying 10,400 shares worth about $2.4 million. The stake represents about 0.10% of the company and 1.3% of Quantedge’s portfolio.
• Boston Beer continues to draw mixed sentiment from analysts, with the consensus rating at “Reduce” and an average price target of $224. Recent calls ranged from holds to sell ratings, while price targets clustered between $220 and $315.
• The company’s latest earnings missed expectations, with EPS of $1.64 versus the $1.96 estimate and revenue of $433.9 million slightly below forecasts. Shares were trading at $171.38, well below the 52-week high of $264.46.

Quantedge Capital Pte Ltd purchased a new stake in shares of The Boston Beer Company, Inc. (NYSE:SAM - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 10,400 shares of the company's stock, valued at approximately $2,396,000. Boston Beer accounts for about 1.3% of Quantedge Capital Pte Ltd's holdings, making the stock its 18th largest holding. Quantedge Capital Pte Ltd owned approximately 0.10% of Boston Beer at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of SAM. Flagship Harbor Advisors LLC bought a new position in Boston Beer during the fourth quarter valued at $35,000. Ascentis Independent Advisors bought a new stake in shares of Boston Beer in the 1st quarter worth about $37,000. Covestor Ltd lifted its holdings in shares of Boston Beer by 180.9% in the 4th quarter. Covestor Ltd now owns 250 shares of the company's stock worth $49,000 after acquiring an additional 161 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Boston Beer by 154.9% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 232 shares of the company's stock worth $49,000 after purchasing an additional 141 shares during the period. Finally, CIBC Private Wealth Group LLC boosted its stake in shares of Boston Beer by 4,780.0% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 244 shares of the company's stock worth $52,000 after purchasing an additional 239 shares during the period. 81.13% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on SAM shares. Jefferies Financial Group set a $230.00 price target on shares of Boston Beer in a report on Friday, May 1st. Morgan Stanley decreased their price objective on shares of Boston Beer from $235.00 to $220.00 and set an "equal weight" rating for the company in a research note on Wednesday, May 6th. Roth Capital set a $315.00 target price on Boston Beer in a research report on Friday, May 1st. Royal Bank Of Canada cut their target price on Boston Beer from $245.00 to $242.00 and set a "sector perform" rating on the stock in a research note on Friday, May 1st. Finally, Weiss Ratings downgraded Boston Beer from a "sell (d+)" rating to a "sell (d)" rating in a report on Wednesday, May 6th. Ten investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Reduce" and a consensus price target of $224.00.

Boston Beer Price Performance

SAM stock opened at $171.38 on Wednesday. The Boston Beer Company, Inc. has a 12 month low of $158.68 and a 12 month high of $264.46. The firm's 50-day moving average is $177.62 and its 200 day moving average is $209.80. The company has a market capitalization of $1.78 billion, a PE ratio of -27.20, a P/E/G ratio of 3.39 and a beta of 0.78.

Boston Beer (NYSE:SAM - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The company reported $1.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.96 by ($0.32). The company had revenue of $433.93 million during the quarter, compared to analysts' expectations of $436.06 million. Boston Beer had a negative net margin of 2.96% and a positive return on equity of 12.08%. Boston Beer's quarterly revenue was down 4.4% on a year-over-year basis. During the same period last year, the firm earned $2.16 earnings per share. Boston Beer has set its FY 2026 guidance at 8.500-10.500 EPS. Sell-side analysts forecast that The Boston Beer Company, Inc. will post 9.51 EPS for the current fiscal year.

About Boston Beer

The Boston Beer Company, Inc NYSE: SAM is a leading craft brewer headquartered in Boston, Massachusetts. Since its founding in 1984 by Jim Koch, the company has focused on producing high-quality, distinctive beers and beverages for retail, on-premise, and distribution partners across the United States. Its operations include brewing, packaging, marketing and distribution, supported by a network of wholly owned brewing facilities and strategic partnerships with regional breweries.

Boston Beer's flagship brand, Samuel Adams Boston Lager, helped establish the modern U.S.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.