Bayforest Capital Ltd Purchases 1,556 Shares of The Boston Beer Company, Inc. (NYSE:SAM)

Key Points

• Bayforest Capital Ltd increased its stake in The Boston Beer Company by 576.3% in Q1, acquiring an additional 1,556 shares to hold a total of 1,826 shares valued at approximately $436,000.
• Boston Beer reported earnings of $5.45 per share for the latest quarter, surpassing expectations by $1.08, but fell short on revenue with $587.95 million, below analysts' forecast of $599.18 million.
• The stock of Boston Beer has a consensus rating of "Hold" from analysts, with target prices ranging from $187.00 to $279.00 among major banking institutions.

Bayforest Capital Ltd grew its position in shares of The Boston Beer Company, Inc. (NYSE:SAM - Free Report) by 576.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,826 shares of the company's stock after buying an additional 1,556 shares during the period. Bayforest Capital Ltd's holdings in Boston Beer were worth $436,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. increased its position in shares of Boston Beer by 4.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 703,480 shares of the company's stock worth $211,030,000 after purchasing an additional 29,412 shares during the period. AQR Capital Management LLC grew its position in Boston Beer by 19.8% in the fourth quarter. AQR Capital Management LLC now owns 422,217 shares of the company's stock valued at $125,821,000 after acquiring an additional 69,778 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Boston Beer by 9.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 225,762 shares of the company's stock valued at $67,723,000 after acquiring an additional 19,063 shares during the last quarter. Southernsun Asset Management LLC grew its position in Boston Beer by 1.6% in the fourth quarter. Southernsun Asset Management LLC now owns 121,972 shares of the company's stock valued at $36,589,000 after acquiring an additional 1,864 shares during the last quarter. Finally, J. Goldman & Co LP grew its position in Boston Beer by 251.8% in the fourth quarter. J. Goldman & Co LP now owns 119,687 shares of the company's stock valued at $35,904,000 after acquiring an additional 85,669 shares during the last quarter. Institutional investors own 81.13% of the company's stock.

Wall Street Analysts Forecast Growth

SAM has been the topic of a number of recent analyst reports. Needham & Company LLC reiterated a "hold" rating on shares of Boston Beer in a research report on Friday, April 25th. Morgan Stanley decreased their target price on Boston Beer from $270.00 to $245.00 and set an "equal weight" rating on the stock in a research report on Friday, July 25th. Wall Street Zen cut Boston Beer from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Sanford C. Bernstein set a $230.00 price target on Boston Beer and gave the stock a "market perform" rating in a report on Monday. Finally, Piper Sandler reduced their price target on Boston Beer from $240.00 to $230.00 and set a "neutral" rating on the stock in a report on Thursday, April 17th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $258.09.

Boston Beer Stock Up 1.2%

SAM traded up $2.47 during trading on Friday, hitting $209.55. The company's stock had a trading volume of 474,339 shares, compared to its average volume of 267,203. The Boston Beer Company, Inc. has a twelve month low of $185.34 and a twelve month high of $329.55. The stock's fifty day moving average price is $206.65 and its 200-day moving average price is $228.40. The firm has a market capitalization of $2.34 billion, a P/E ratio of 29.56, a PEG ratio of 1.77 and a beta of 0.99.

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

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.