Millennium Management LLC Increases Stock Holdings in The Boston Beer Company, Inc. (NYSE:SAM)

Millennium Management LLC grew its position in The Boston Beer Company, Inc. (NYSE:SAM - Free Report) by 21.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 94,231 shares of the company's stock after buying an additional 16,408 shares during the period. Millennium Management LLC owned 0.82% of Boston Beer worth $28,267,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in SAM. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Boston Beer by 4.4% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 703,480 shares of the company's stock worth $211,030,000 after acquiring an additional 29,412 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Boston Beer by 19.8% in the 4th quarter. AQR Capital Management LLC now owns 422,217 shares of the company's stock worth $125,821,000 after acquiring an additional 69,778 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Boston Beer by 9.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 225,762 shares of the company's stock worth $67,723,000 after buying an additional 19,063 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in Boston Beer by 27.1% during the 4th quarter. Fisher Asset Management LLC now owns 160,419 shares of the company's stock worth $48,122,000 after buying an additional 34,176 shares in the last quarter. Finally, Southernsun Asset Management LLC lifted its holdings in Boston Beer by 1.6% during the 4th quarter. Southernsun Asset Management LLC now owns 121,972 shares of the company's stock worth $36,589,000 after buying an additional 1,864 shares in the last quarter. Hedge funds and other institutional investors own 81.13% of the company's stock.

Boston Beer Stock Down 0.7%

Boston Beer stock traded down $1.66 during midday trading on Friday, reaching $232.31. The stock had a trading volume of 108,336 shares, compared to its average volume of 164,046. The firm's 50-day moving average price is $240.08 and its 200 day moving average price is $261.47. The Boston Beer Company, Inc. has a 12 month low of $215.10 and a 12 month high of $339.77. The firm has a market capitalization of $2.59 billion, a PE ratio of 34.16, a P/E/G ratio of 1.23 and a beta of 1.14.

Boston Beer (NYSE:SAM - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The company reported $2.16 earnings per share for the quarter, beating analysts' consensus estimates of $0.78 by $1.38. The firm had revenue of $481.36 million during the quarter, compared to analyst estimates of $436.27 million. Boston Beer had a return on equity of 11.76% and a net margin of 3.82%. The business's quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.04 earnings per share. Equities research analysts expect that The Boston Beer Company, Inc. will post 9.29 EPS for the current year.

Analyst Upgrades and Downgrades

SAM has been the topic of a number of analyst reports. Roth Mkm restated a "buy" rating and issued a $349.00 price objective (down from $389.00) on shares of Boston Beer in a report on Wednesday, February 26th. Cfra Research upgraded shares of Boston Beer from a "moderate sell" rating to a "moderate buy" rating in a report on Thursday, April 24th. Piper Sandler reduced their price objective on shares of Boston Beer from $240.00 to $230.00 and set a "neutral" rating on the stock in a report on Thursday, April 17th. Needham & Company LLC restated a "hold" rating on shares of Boston Beer in a report on Friday, April 25th. Finally, Berenberg Bank initiated coverage on shares of Boston Beer in a report on Wednesday, April 2nd. They issued a "hold" rating and a $281.10 price objective on the stock. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price 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.