Cwm LLC Decreases Stock Position in The Boston Beer Company, Inc. (NYSE:SAM)

Key Points

• Cwm LLC has significantly reduced its holdings in The Boston Beer Company by 94.4%, now owning only 432 shares valued at approximately $103,000.
• Several large institutional investors have been increasing their stakes in Boston Beer, including T. Rowe Price and AQR Capital Management, highlighting 81.13% institutional ownership of the company.
• Analysts have downgraded Boston Beer from a "buy" to a "hold" rating with an average price target of $258.09, reflecting fluctuating investor confidence in the company's stock performance.

CWM LLC lessened its holdings in shares of The Boston Beer Company, Inc. (NYSE:SAM - Free Report) by 94.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 432 shares of the company's stock after selling 7,244 shares during the quarter. CWM LLC's holdings in Boston Beer were worth $103,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Rossby Financial LCC bought a new stake in shares of Boston Beer in the first quarter worth about $25,000. GeoWealth Management LLC bought a new stake in Boston Beer in the 4th quarter worth approximately $35,000. First Horizon Advisors Inc. raised its holdings in shares of Boston Beer by 24.4% during the 1st quarter. First Horizon Advisors Inc. now owns 214 shares of the company's stock worth $51,000 after acquiring an additional 42 shares in the last quarter. True Wealth Design LLC boosted its position in shares of Boston Beer by 44.1% during 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 last quarter. Finally, Farther Finance Advisors LLC boosted its position in shares of Boston Beer by 602.4% during the 1st quarter. Farther Finance Advisors LLC now owns 295 shares of the company's stock valued at $72,000 after acquiring an additional 253 shares during the last quarter. 81.13% of the stock is owned by hedge funds and other institutional investors.

Boston Beer Price Performance

Shares of NYSE:SAM traded up $2.47 on Friday, hitting $209.55. 474,339 shares of the company's stock were exchanged, compared to its average volume of 267,203. The stock has a market capitalization of $2.34 billion, a price-to-earnings ratio of 29.56, a price-to-earnings-growth ratio of 1.77 and a beta of 0.99. The Boston Beer Company, Inc. has a 12 month low of $185.34 and a 12 month high of $329.55. The business's 50 day simple moving average is $207.10 and its two-hundred day simple moving average is $228.74.

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 for the quarter, beating analysts' consensus estimates of $4.37 by $1.08. The company had revenue of $587.95 million during the quarter, compared to analyst estimates of $599.18 million. Boston Beer had a net margin of 3.65% and a return on equity of 15.15%. The firm's revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter last year, the business posted $4.39 EPS. Equities analysts forecast that The Boston Beer Company, Inc. will post 9.29 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have commented on SAM. Sanford C. Bernstein set a $230.00 price objective on shares of Boston Beer and gave the company a "market perform" rating in a research report on Monday. Piper Sandler decreased their target price on shares of Boston Beer from $240.00 to $230.00 and set a "neutral" rating on the stock in a research report on Thursday, April 17th. Evercore ISI dropped their price target on Boston Beer from $275.00 to $250.00 and set an "in-line" rating for the company in a research report on Friday, July 25th. Wall Street Zen cut Boston Beer from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Finally, Cfra Research upgraded Boston Beer from a "moderate sell" rating to a "moderate buy" rating in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus 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.