Profit Investment Management LLC Sells 1,857 Shares of The Boston Beer Company, Inc. $SAM

Key Points

• Profit Investment Management LLC reduced its stake in The Boston Beer Company by 57.4% during the second quarter, now holding 1,378 shares valued at approximately $263,000.
• Several research analysts have lowered their price targets for Boston Beer, with Goldman Sachs reducing its target from $219 to $187 and rating the stock as a "sell."
• Boston Beer reported earnings of $5.45 EPS for the last quarter, surpassing estimates, and has set its FY 2025 guidance between 8.000-10.500 EPS.

Profit Investment Management LLC reduced its holdings in The Boston Beer Company, Inc. (NYSE:SAM - Free Report) by 57.4% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 1,378 shares of the company's stock after selling 1,857 shares during the quarter. Profit Investment Management LLC's holdings in Boston Beer were worth $263,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Diversified Trust Co bought a new stake in Boston Beer in the 2nd quarter valued at about $313,000. Wealth Enhancement Advisory Services LLC lifted its position in Boston Beer by 28.5% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 2,022 shares of the company's stock valued at $407,000 after purchasing an additional 448 shares during the last quarter. Parallel Advisors LLC lifted its position in Boston Beer by 34.1% in the 2nd quarter. Parallel Advisors LLC now owns 673 shares of the company's stock valued at $128,000 after purchasing an additional 171 shares during the last quarter. Voya Investment Management LLC lifted its position in Boston Beer by 29.1% in the 1st quarter. Voya Investment Management LLC now owns 6,713 shares of the company's stock valued at $1,603,000 after purchasing an additional 1,513 shares during the last quarter. Finally, Intech Investment Management LLC lifted its position in Boston Beer by 300.6% in the 1st quarter. Intech Investment Management LLC now owns 8,097 shares of the company's stock valued at $1,934,000 after purchasing an additional 6,076 shares during the last quarter. 81.13% of the stock is currently owned by institutional investors.

Insider Transactions at Boston Beer

In other Boston Beer news, VP Annette N. Fritsch sold 600 shares of Boston Beer stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $219.24, for a total value of $131,544.00. Following the completion of the sale, the vice president directly owned 9,715 shares in the company, valued at $2,129,916.60. The trade was a 5.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 26.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. UBS Group cut their price objective on shares of Boston Beer from $275.00 to $214.00 and set a "neutral" rating on the stock in a research report on Thursday, July 17th. 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, July 28th. Citigroup lowered their target price on shares of Boston Beer from $285.00 to $230.00 and set a "buy" rating on the stock in a research note on Tuesday, July 15th. Wall Street Zen cut shares of Boston Beer from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Finally, The Goldman Sachs Group lowered their target price on shares of Boston Beer from $219.00 to $187.00 and set a "sell" rating on the stock in a research note on Monday, June 23rd. Two research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $258.09.

Boston Beer Stock Performance

Shares of SAM stock traded up $1.10 during trading on Tuesday, hitting $216.84. 59,668 shares of the company were exchanged, compared to its average volume of 225,832. The firm has a market capitalization of $2.42 billion, a price-to-earnings ratio of 30.58, a P/E/G ratio of 1.90 and a beta of 0.82. The business's 50-day simple moving average is $215.36 and its 200 day simple moving average is $222.84. 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 posted its earnings results on Thursday, July 24th. The company reported $5.45 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 net margin of 3.65% and a return on equity of 15.15%. The company's revenue was up 1.5% compared to the same quarter last year. During the same period in the previous year, the company earned $4.39 earnings per share. Boston Beer has set its FY 2025 guidance at 8.000-10.500 EPS. On average, equities analysts forecast that The Boston Beer Company, Inc. will post 9.29 earnings per share for the current fiscal year.

About Boston Beer

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.