RK Asset Management LLC Makes New Investment in The Boston Beer Company, Inc. (NYSE:SAM)

RK Asset Management LLC bought a new position in 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 Securities & Exchange Commission. The firm bought 18,698 shares of the company's stock, valued at approximately $4,466,000. Boston Beer comprises approximately 4.1% of RK Asset Management LLC's investment portfolio, making the stock its 13th biggest position. RK Asset Management LLC owned 0.17% of Boston Beer at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Blue Trust Inc. grew its holdings in Boston Beer by 405.6% during the fourth quarter. Blue Trust Inc. now owns 91 shares of the company's stock valued at $26,000 after purchasing an additional 73 shares during the period. EverSource Wealth Advisors LLC lifted its position in shares of Boston Beer by 2,225.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 93 shares of the company's stock worth $28,000 after buying an additional 89 shares in the last quarter. GeoWealth Management LLC bought a new position in Boston Beer during the fourth quarter valued at approximately $35,000. First Horizon Advisors Inc. grew its holdings in Boston Beer by 42.1% during the 4th quarter. First Horizon Advisors Inc. now owns 172 shares of the company's stock valued at $52,000 after buying an additional 51 shares in the last quarter. Finally, True Wealth Design LLC increased its stake in Boston Beer by 44.1% in the 4th 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. 81.13% of the stock is currently owned by hedge funds and other institutional investors.

Boston Beer Stock Performance

SAM stock traded down $1.94 during midday trading on Friday, reaching $229.30. The stock had a trading volume of 294,909 shares, compared to its average volume of 164,167. The firm has a fifty day simple moving average of $240.30 and a two-hundred day simple moving average of $259.36. The stock has a market cap of $2.56 billion, a PE ratio of 33.72, a P/E/G ratio of 1.23 and a beta of 1.14. The Boston Beer Company, Inc. has a 52-week low of $215.10 and a 52-week high of $339.77.

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

Analysts Set New Price Targets

SAM has been the subject of a number of recent research reports. Citigroup raised their target price on shares of Boston Beer from $280.00 to $285.00 and gave the company a "buy" rating in a report on Monday, April 14th. Cfra Research raised shares of Boston Beer from a "moderate sell" rating to a "moderate buy" rating in a research note on Thursday, April 24th. 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. Berenberg Bank initiated coverage on Boston Beer in a report on Wednesday, April 2nd. They issued a "hold" rating and a $281.10 price target on the stock. Finally, Roth Mkm restated a "buy" rating and set a $349.00 price objective (down from $389.00) on shares of Boston Beer in a research note on Wednesday, February 26th. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $286.12.

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.