Bank of New York Mellon Corp Has $17.13 Million Stake in The Boston Beer Company, Inc. (NYSE:SAM)

Bank of New York Mellon Corp trimmed its position in The Boston Beer Company, Inc. (NYSE:SAM - Free Report) by 39.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 71,732 shares of the company's stock after selling 47,335 shares during the period. Bank of New York Mellon Corp owned about 0.64% of Boston Beer worth $17,133,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of SAM. First Horizon Advisors Inc. grew its position in Boston Beer by 24.4% during the first quarter. First Horizon Advisors Inc. now owns 214 shares of the company's stock valued at $51,000 after acquiring an additional 42 shares during the period. Lazard Asset Management LLC raised its holdings in Boston Beer by 10.3% in the fourth quarter. Lazard Asset Management LLC now owns 515 shares of the company's stock valued at $153,000 after buying an additional 48 shares during the period. Cetera Investment Advisers raised its holdings in Boston Beer by 4.6% in the fourth quarter. Cetera Investment Advisers now owns 1,269 shares of the company's stock valued at $381,000 after buying an additional 56 shares during the period. Bank of Montreal Can raised its holdings in Boston Beer by 7.3% in the fourth quarter. Bank of Montreal Can now owns 1,001 shares of the company's stock valued at $300,000 after buying an additional 68 shares during the period. Finally, True Wealth Design LLC raised its holdings in Boston Beer by 44.1% in the fourth quarter. True Wealth Design LLC now owns 232 shares of the company's stock valued at $70,000 after buying an additional 71 shares during the period. 81.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on SAM shares. UBS Group cut their price target on shares of Boston Beer from $275.00 to $214.00 and set a "neutral" rating on the stock in a report on Thursday. Citigroup lowered their price objective on shares of Boston Beer from $285.00 to $230.00 and set a "buy" rating for the company in a research report on Tuesday. The Goldman Sachs Group lowered their price objective on shares of Boston Beer from $219.00 to $187.00 and set a "sell" rating for the company in a research report on Monday, June 23rd. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $279.00 price objective on shares of Boston Beer in a research report on Tuesday, April 22nd. Finally, Berenberg Bank started coverage on shares of Boston Beer in a research report on Wednesday, April 2nd. They issued a "hold" rating and a $281.10 price objective for the company. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Boston Beer currently has a consensus rating of "Hold" and an average price target of $261.10.

Boston Beer Trading Down 1.4%

Boston Beer stock traded down $2.65 during mid-day trading on Friday, reaching $191.95. The company's stock had a trading volume of 178,244 shares, compared to its average volume of 172,062. The firm has a market cap of $2.14 billion, a price-to-earnings ratio of 31.83, a PEG ratio of 1.42 and a beta of 0.99. The business has a 50 day moving average price of $213.45 and a 200-day moving average price of $233.34. The Boston Beer Company, Inc. has a twelve month low of $185.34 and a twelve month high of $329.55.

Boston Beer (NYSE:SAM - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The company reported $2.16 EPS for the quarter, topping 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 firm had revenue of $481.36 million during the quarter, compared to the consensus estimate of $436.27 million. During the same quarter in the previous year, the company posted $1.04 earnings per share. The firm's revenue was up 6.5% on a year-over-year basis. On average, equities analysts expect 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.