Wealth Enhancement Advisory Services LLC decreased its position in shares of The Boston Beer Company, Inc. (NYSE:SAM - Free Report) by 77.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,574 shares of the company's stock after selling 5,368 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Boston Beer were worth $376,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of the company. SG Americas Securities LLC acquired a new position in shares of Boston Beer during the first quarter valued at $394,000. Farther Finance Advisors LLC boosted its holdings in shares of Boston Beer by 602.4% during the first 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 period. Wedge Capital Management L L P NC boosted its holdings in shares of Boston Beer by 51.8% during the first quarter. Wedge Capital Management L L P NC now owns 8,593 shares of the company's stock valued at $2,052,000 after acquiring an additional 2,932 shares during the period. UMB Bank n.a. boosted its holdings in shares of Boston Beer by 35.7% during the first quarter. UMB Bank n.a. now owns 331 shares of the company's stock valued at $79,000 after acquiring an additional 87 shares during the period. Finally, NBC Securities Inc. raised its stake in shares of Boston Beer by 189,500.0% during the first quarter. NBC Securities Inc. now owns 1,896 shares of the company's stock valued at $452,000 after purchasing an additional 1,895 shares in the last quarter. Institutional investors and hedge funds own 81.13% of the company's stock.
Boston Beer Stock Performance
NYSE SAM traded down $3.13 on Monday, reaching $197.95. The company's stock had a trading volume of 289,710 shares, compared to its average volume of 167,324. The Boston Beer Company, Inc. has a twelve month low of $185.34 and a twelve month high of $329.55. The stock has a market cap of $2.21 billion, a PE ratio of 32.83, a PEG ratio of 1.47 and a beta of 0.99. The firm's 50 day moving average is $222.33 and its two-hundred day moving average is $239.06.
Boston Beer (NYSE:SAM - Get Free Report) last issued its quarterly earnings results 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. Boston Beer had a net margin of 3.30% and a return on equity of 13.81%. The company had revenue of $481.36 million during the quarter, compared to the consensus estimate of $436.27 million. During the same period in the prior year, the company earned $1.04 EPS. Boston Beer's revenue was up 6.5% on a year-over-year basis. Equities research analysts anticipate that The Boston Beer Company, Inc. will post 9.29 EPS for the current fiscal year.
Analyst Ratings Changes
A number of equities research analysts recently weighed in on the stock. Wall Street Zen cut shares of Boston Beer from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. UBS Group lifted their price objective on shares of Boston Beer from $265.00 to $279.00 and gave the company a "neutral" rating in a research note on Thursday, April 17th. Citigroup lifted their price objective on shares of Boston Beer from $280.00 to $285.00 and gave the company a "buy" rating in a research note on Monday, April 14th. Berenberg Bank assumed coverage on shares of Boston Beer in a research note on Wednesday, April 2nd. They set a "hold" rating and a $281.10 price objective on the stock. Finally, Piper Sandler cut their price objective on shares of Boston Beer from $240.00 to $230.00 and set a "neutral" rating on the stock in a research note on Thursday, April 17th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $276.21.
View Our Latest Report on Boston Beer
Boston Beer Profile
(
Free Report)
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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