XTX Topco Ltd Cuts Stock Position in The Boston Beer Company, Inc. (NYSE:SAM)

Key Points

• XTX Topco Ltd significantly reduced its stake in The Boston Beer Company, selling 5,202 shares and lowering its holdings by 84.4%, leaving it with 960 shares valued at $229,000.
• Boston Beer reported $5.45 EPS for the recent quarter, exceeding estimates of $4.37, although its revenue of $587.95 million fell short of the $599.18 million target.
• Several analysts have downgraded Boston Beer’s stock price target, with UBS Group lowering it from $275.00 to $214.00, while the majority of analysts maintain a consensus rating of "Hold."

XTX Topco Ltd lessened its position in shares of The Boston Beer Company, Inc. (NYSE:SAM - Free Report) by 84.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 960 shares of the company's stock after selling 5,202 shares during the quarter. XTX Topco Ltd's holdings in Boston Beer were worth $229,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Teacher Retirement System of Texas raised its position in Boston Beer by 34.8% during the first quarter. Teacher Retirement System of Texas now owns 6,472 shares of the company's stock valued at $1,546,000 after purchasing an additional 1,671 shares during the period. Wedge Capital Management L L P NC grew its stake in Boston Beer by 51.8% in the 1st quarter. Wedge Capital Management L L P NC now owns 8,593 shares of the company's stock worth $2,052,000 after acquiring an additional 2,932 shares in the last quarter. Calamos Advisors LLC increased its position in shares of Boston Beer by 70.8% during the first quarter. Calamos Advisors LLC now owns 46,071 shares of the company's stock worth $11,004,000 after acquiring an additional 19,090 shares during the period. GAMMA Investing LLC raised its stake in shares of Boston Beer by 7,861.2% during the first quarter. GAMMA Investing LLC now owns 10,270 shares of the company's stock valued at $2,453,000 after acquiring an additional 10,141 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Boston Beer during the first quarter valued at approximately $394,000. Institutional investors own 81.13% of the company's stock.

Insiders Place Their Bets

In other news, VP Annette N. Fritsch sold 600 shares of the business's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $219.24, for a total value of $131,544.00. Following the completion of the transaction, the vice president owned 9,715 shares of the company's stock, valued at $2,129,916.60. The trade was a 5.82% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 26.10% of the company's stock.

Boston Beer Stock Performance

SAM stock traded up $0.25 during midday trading on Friday, reaching $220.00. The stock had a trading volume of 231,502 shares, compared to its average volume of 303,834. The firm has a fifty day simple moving average of $205.14 and a two-hundred day simple moving average of $226.02. The Boston Beer Company, Inc. has a 52-week low of $185.34 and a 52-week high of $329.55. The stock has a market cap of $2.45 billion, a PE ratio of 31.03, a P/E/G ratio of 1.88 and a beta of 0.84.

Boston Beer (NYSE:SAM - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The company reported $5.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.37 by $1.08. The firm had revenue of $587.95 million during the quarter, compared to analysts' expectations of $599.18 million. Boston Beer had a return on equity of 15.15% and a net margin of 3.65%. The company's revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period last year, the business posted $4.39 earnings per share. On average, sell-side analysts predict that The Boston Beer Company, Inc. will post 9.29 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have weighed in on SAM. Wall Street Zen cut Boston Beer from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Evercore ISI reduced their price objective on shares of Boston Beer from $275.00 to $250.00 and set an "in-line" rating for the company in a research note on Friday, July 25th. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $279.00 price target on shares of Boston Beer in a report on Tuesday, April 22nd. UBS Group decreased their price objective on Boston Beer from $275.00 to $214.00 and set a "neutral" rating for the company in a research note on Thursday, July 17th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Boston Beer in a report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Boston Beer has an average rating of "Hold" and an average price target of $258.09.

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.