Voya Investment Management LLC Has $1.60 Million Position in The Boston Beer Company, Inc. $SAM

Key Points

• Voya Investment Management LLC increased its stake in The Boston Beer Company by 29.1% to 6,713 shares, now valued at approximately $1.60 million.
• Insider Annette N. Fritsch sold 600 shares of Boston Beer on August 8th for approximately $131,544, reducing her ownership by 5.82%.
• Boston Beer has received multiple target price downgrades from analysts, with the average target price now at $258.09 and a current rating of "Hold."

Voya Investment Management LLC raised its holdings in The Boston Beer Company, Inc. (NYSE:SAM - Free Report) by 29.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,713 shares of the company's stock after acquiring an additional 1,513 shares during the quarter. Voya Investment Management LLC owned about 0.06% of Boston Beer worth $1,603,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Rossby Financial LCC acquired a new stake in shares of Boston Beer in the first quarter worth $25,000. Elequin Capital LP acquired a new stake in shares of Boston Beer in the 1st quarter valued at $30,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Boston Beer in the 1st quarter valued at $44,000. First Horizon Advisors Inc. lifted its position in 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 buying an additional 42 shares in the last quarter. Finally, Signaturefd LLC lifted its position in Boston Beer by 483.7% during the 1st quarter. Signaturefd LLC now owns 251 shares of the company's stock worth $60,000 after buying an additional 208 shares in the last quarter. 81.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Boston Beer

In related news, VP Annette N. Fritsch sold 600 shares of the company's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $219.24, for a total transaction of $131,544.00. Following the completion of the sale, the vice president owned 9,715 shares in the company, valued at approximately $2,129,916.60. This represents a 5.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 26.10% of the company's stock.

Wall Street Analyst Weigh In

SAM has been the topic of a number of research reports. Evercore ISI cut their target price on shares of Boston Beer from $275.00 to $250.00 and set an "in-line" rating on the stock in a research report on Friday, July 25th. Morgan Stanley cut their price objective on Boston Beer from $270.00 to $245.00 and set an "equal weight" rating for the company in a report on Friday, July 25th. The Goldman Sachs Group cut their price target on Boston Beer from $219.00 to $187.00 and set a "sell" rating for the company in a report on Monday, June 23rd. Wall Street Zen cut Boston Beer from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Finally, UBS Group decreased their target price on Boston Beer from $275.00 to $214.00 and set a "neutral" rating on the stock in a research report on Thursday, July 17th. Two equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Boston Beer has an average rating of "Hold" and an average target price of $258.09.

Boston Beer Stock Performance

Shares of SAM opened at $215.64 on Tuesday. The Boston Beer Company, Inc. has a 52-week low of $185.34 and a 52-week high of $329.55. The business's 50 day moving average price is $215.36 and its two-hundred day moving average price is $222.84. The firm has a market cap of $2.40 billion, a PE ratio of 30.42, a price-to-earnings-growth ratio of 1.90 and a beta of 0.82.

Boston Beer (NYSE:SAM - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The company reported $5.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.37 by $1.08. The business had revenue of $587.95 million during the quarter, compared to the consensus estimate of $599.18 million. Boston Beer had a net margin of 3.65% and a return on equity of 15.15%. Boston Beer's revenue was up 1.5% compared to the same quarter last year. During the same quarter last year, the firm posted $4.39 EPS. Boston Beer has set its FY 2025 guidance at 8.000-10.500 EPS. Research analysts predict that The Boston Beer Company, Inc. will post 9.29 EPS 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.