Wedge Capital Management L L P NC Boosts Stake in The Boston Beer Company, Inc. (NYSE:SAM)

Wedge Capital Management L L P NC boosted its stake in shares of The Boston Beer Company, Inc. (NYSE:SAM - Free Report) by 51.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,593 shares of the company's stock after buying an additional 2,932 shares during the period. Wedge Capital Management L L P NC owned 0.08% of Boston Beer worth $2,052,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the business. Blue Trust Inc. increased its position in shares of Boston Beer by 405.6% during the fourth quarter. Blue Trust Inc. now owns 91 shares of the company's stock worth $26,000 after purchasing an additional 73 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Boston Beer by 2,225.0% during 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 in the last quarter. GeoWealth Management LLC acquired a new position in shares of Boston Beer during the fourth quarter worth $35,000. First Horizon Advisors Inc. increased its position in shares of Boston Beer by 42.1% during the fourth quarter. First Horizon Advisors Inc. now owns 172 shares of the company's stock worth $52,000 after purchasing an additional 51 shares in the last quarter. Finally, True Wealth Design LLC increased 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 valued at $70,000 after acquiring an additional 71 shares during the period. 81.13% of the stock is owned by institutional investors and hedge funds.

Boston Beer Trading Down 2.7%

SAM traded down $5.88 during midday trading on Friday, hitting $208.52. 192,696 shares of the company were exchanged, compared to its average volume of 156,562. The company's 50 day simple moving average is $236.07 and its 200 day simple moving average is $252.77. The firm has a market capitalization of $2.32 billion, a price-to-earnings ratio of 30.66, a price-to-earnings-growth ratio of 1.23 and a beta of 1.05. The Boston Beer Company, Inc. has a 1-year low of $207.00 and a 1-year high of $329.55.

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

Analyst Ratings Changes

Several research firms recently issued reports on SAM. UBS Group upped their target price on Boston Beer from $265.00 to $279.00 and gave the company a "neutral" rating in a research report on Thursday, April 17th. Berenberg Bank began coverage on Boston Beer in a research report on Wednesday, April 2nd. They issued a "hold" rating and a $281.10 target price on the stock. Piper Sandler cut their target price on Boston Beer from $240.00 to $230.00 and set a "neutral" rating on the stock in a research report on Thursday, April 17th. Morgan Stanley cut their target price on Boston Beer from $290.00 to $270.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 26th. Finally, Royal Bank of Canada reissued a "sector perform" rating and issued a $279.00 target price on shares of Boston Beer in a research report on Tuesday, April 22nd. Eight analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $286.12.

Boston Beer Company 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.