The Boston Beer Company, Inc. (NYSE:SAM) Position Trimmed by Schechter Investment Advisors LLC

Schechter Investment Advisors LLC reduced its holdings in shares of The Boston Beer Company, Inc. (NYSE:SAM - Free Report) by 34.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,269 shares of the company's stock after selling 1,691 shares during the quarter. Schechter Investment Advisors LLC's holdings in Boston Beer were worth $781,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Rossby Financial LCC acquired a new position in shares of Boston Beer in the 1st quarter worth approximately $25,000. EverSource Wealth Advisors LLC boosted its holdings in 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 purchasing an additional 89 shares during the period. GeoWealth Management LLC bought a new stake in Boston Beer during the fourth quarter valued at $35,000. First Horizon Advisors Inc. raised its holdings in shares of 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 purchasing an additional 42 shares during the period. Finally, True Wealth Design LLC lifted its position in shares of 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 buying an additional 71 shares during the last quarter. Institutional investors and hedge funds own 81.13% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Piper Sandler reduced their price objective on Boston Beer from $240.00 to $230.00 and set a "neutral" rating for the company in a research report on Thursday, April 17th. Cfra Research raised shares of Boston Beer from a "moderate sell" rating to a "moderate buy" rating in a report on Thursday, April 24th. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $279.00 price objective on shares of Boston Beer in a report on Tuesday, April 22nd. Sanford C. Bernstein reduced their target price on shares of Boston Beer from $270.00 to $230.00 and set a "market perform" rating for the company in a research note on Wednesday, July 9th. Finally, Needham & Company LLC restated a "hold" rating on shares of Boston Beer in a research report on Friday, April 25th. One analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $267.01.

Boston Beer Price Performance

Shares of NYSE SAM traded down $0.40 during mid-day trading on Tuesday, reaching $191.60. 255,678 shares of the company traded hands, compared to its average volume of 171,012. The Boston Beer Company, Inc. has a fifty-two week low of $185.34 and a fifty-two week high of $329.55. The firm has a market cap of $2.14 billion, a PE ratio of 31.77, a price-to-earnings-growth ratio of 1.44 and a beta of 0.99. The stock has a fifty day simple moving average of $218.48 and a 200-day simple moving average of $236.17.

Boston Beer (NYSE:SAM - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The company reported $2.16 EPS for the quarter, beating analysts' consensus estimates of $0.78 by $1.38. Boston Beer had a net margin of 3.30% and a return on equity of 13.81%. The business had revenue of $481.36 million for the quarter, compared to analyst estimates of $436.27 million. During the same quarter last year, the business earned $1.04 earnings per share. The business's revenue for the quarter was up 6.5% on a year-over-year basis. As a group, analysts predict that The Boston Beer Company, Inc. will post 9.29 EPS for the current fiscal year.

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.