The Boston Beer Company, Inc. (NYSE:SAM) Stake Increased by Millennium Management LLC

Millennium Management LLC raised its stake in shares of The Boston Beer Company, Inc. (NYSE:SAM - Free Report) by 21.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 94,231 shares of the company's stock after acquiring an additional 16,408 shares during the quarter. Millennium Management LLC owned approximately 0.82% of Boston Beer worth $28,267,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in SAM. Barclays PLC grew its holdings in Boston Beer by 44.2% during the 3rd quarter. Barclays PLC now owns 12,988 shares of the company's stock worth $3,753,000 after acquiring an additional 3,983 shares in the last quarter. Merit Financial Group LLC acquired a new position in Boston Beer during the 4th quarter worth $434,000. Aaron Wealth Advisors LLC grew its holdings in Boston Beer by 12.0% during the 4th quarter. Aaron Wealth Advisors LLC now owns 1,273 shares of the company's stock worth $382,000 after acquiring an additional 136 shares in the last quarter. Exchange Traded Concepts LLC grew its holdings in Boston Beer by 2.5% during the 4th quarter. Exchange Traded Concepts LLC now owns 2,630 shares of the company's stock worth $789,000 after acquiring an additional 65 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings in Boston Beer by 405.6% during the 4th quarter. Blue Trust Inc. now owns 91 shares of the company's stock worth $26,000 after acquiring an additional 73 shares in the last quarter. 81.13% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on SAM. Roth Mkm reissued a "buy" rating and set a $349.00 price objective (down from $389.00) on shares of Boston Beer in a report on Wednesday, February 26th. Piper Sandler decreased their price target on shares of Boston Beer from $240.00 to $230.00 and set a "neutral" rating for the company in a report on Thursday, April 17th. Citigroup lifted their price target on shares of Boston Beer from $280.00 to $285.00 and gave the company a "buy" rating in a report on Monday, April 14th. Berenberg Bank began coverage on shares of Boston Beer in a report on Wednesday, April 2nd. They issued a "hold" rating and a $281.10 price target for the company. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Boston Beer in a report on Friday, April 25th. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Boston Beer currently has a consensus rating of "Hold" and an average price target of $286.12.

Boston Beer Stock Down 1.4%

Shares of NYSE:SAM opened at $246.35 on Tuesday. The company has a market cap of $2.75 billion, a PE ratio of 36.23, a P/E/G ratio of 1.23 and a beta of 1.14. The company's 50-day moving average price is $239.23 and its 200 day moving average price is $263.26. The Boston Beer Company, Inc. has a fifty-two week low of $215.10 and a fifty-two week high of $339.77.

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

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