Wedge Capital Management L L P NC Increases Stock Position in The Boston Beer Company, Inc. (NYSE:SAM)

Wedge Capital Management L L P NC lifted its position in The Boston Beer Company, Inc. (NYSE:SAM - Free Report) by 51.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,593 shares of the company's stock after acquiring an additional 2,932 shares during the quarter. Wedge Capital Management L L P NC owned approximately 0.08% of Boston Beer worth $2,052,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in SAM. T. Rowe Price Investment Management Inc. raised its stake in shares of Boston Beer by 4.4% during the 4th 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 increased its holdings in Boston Beer by 19.8% during the fourth quarter. AQR Capital Management LLC now owns 422,217 shares of the company's stock worth $125,821,000 after buying an additional 69,778 shares during the last quarter. Dimensional Fund Advisors LP raised 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 worth $67,723,000 after acquiring an additional 19,063 shares during the period. Fisher Asset Management LLC boosted its stake in Boston Beer by 27.1% in the fourth quarter. Fisher Asset Management LLC now owns 160,419 shares of the company's stock valued at $48,122,000 after acquiring an additional 34,176 shares during the last quarter. Finally, Southernsun Asset Management LLC grew its position in shares of Boston Beer by 1.6% during the 4th 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 period. Hedge funds and other institutional investors own 81.13% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on SAM shares. Berenberg Bank assumed coverage on Boston Beer in a report on Wednesday, April 2nd. They set a "hold" rating and a $281.10 price objective for the company. Cfra Research upgraded shares of Boston Beer from a "moderate sell" rating to a "moderate buy" rating in a research report on Thursday, April 24th. UBS Group lifted their target price on shares of Boston Beer from $265.00 to $279.00 and gave the stock a "neutral" rating in a research note on Thursday, April 17th. Wall Street Zen raised shares of Boston Beer from a "hold" rating to a "buy" rating in a research report on Friday, April 25th. Finally, Morgan Stanley cut 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. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $286.12.

Boston Beer Stock Up 0.2%

NYSE:SAM traded up $0.53 during mid-day trading on Thursday, hitting $214.34. 203,704 shares of the stock traded hands, compared to its average volume of 156,116. The business's 50-day moving average price is $236.46 and its 200 day moving average price is $253.49. The company has a market cap of $2.39 billion, a PE ratio of 31.52, a price-to-earnings-growth ratio of 1.23 and a beta of 1.05. The Boston Beer Company, Inc. has a 12-month low of $209.67 and a 12-month high of $329.55.

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 analysts' consensus estimates of $0.78 by $1.38. Boston Beer had a net margin of 3.82% and a return on equity of 11.76%. The firm had revenue of $481.36 million during the quarter, compared to analyst estimates of $436.27 million. During the same period in the previous year, the business earned $1.04 EPS. The business's revenue for the quarter was up 6.5% on a year-over-year basis. Analysts anticipate that The Boston Beer Company, Inc. will post 9.29 earnings per share 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.