Jump Financial LLC Lowers Holdings in The Boston Beer Company, Inc. (NYSE:SAM)

Jump Financial LLC lessened its holdings in The Boston Beer Company, Inc. (NYSE:SAM - Free Report) by 79.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,325 shares of the company's stock after selling 5,187 shares during the period. Jump Financial LLC's holdings in Boston Beer were worth $397,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Norges Bank acquired a new stake in Boston Beer in the fourth quarter valued at approximately $30,741,000. Cooper Creek Partners Management LLC bought a new stake in shares of Boston Beer in the fourth quarter valued at approximately $25,054,000. Global Alpha Capital Management Ltd. bought a new position in shares of Boston Beer in the fourth quarter valued at approximately $23,349,000. Fisher Asset Management LLC raised its stake in Boston Beer by 27.1% in the fourth quarter. Fisher Asset Management LLC now owns 160,419 shares of the company's stock valued at $48,122,000 after purchasing an additional 34,176 shares in the last quarter. Finally, Wealthfront Advisers LLC purchased a new stake in shares of Boston Beer in the 4th quarter valued at $6,528,000. Institutional investors own 81.13% of the company's stock.

Wall Street Analysts Forecast Growth

SAM has been the topic of a number of recent research reports. StockNews.com raised shares of Boston Beer from a "hold" rating to a "buy" rating in a research report on Friday, April 25th. Piper Sandler decreased 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 report on Thursday, April 17th. Morgan Stanley reduced their target price on Boston Beer from $290.00 to $270.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 26th. Berenberg Bank initiated coverage on Boston Beer in a research report on Wednesday, April 2nd. They issued a "hold" rating and a $281.10 price target for the company. Finally, Cfra Research upgraded shares of Boston Beer from a "moderate sell" rating to a "moderate buy" rating in a research report on Thursday, April 24th. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Boston Beer currently has an average rating of "Hold" and a consensus price target of $286.12.

Boston Beer Stock Down 1.0 %

Shares of SAM traded down $2.53 during trading hours on Wednesday, reaching $243.99. 192,568 shares of the company traded hands, compared to its average volume of 171,746. The stock has a market capitalization of $2.74 billion, a P/E ratio of 35.88, a P/E/G ratio of 1.23 and a beta of 1.26. The business has a fifty day moving average price of $237.45 and a 200-day moving average price of $268.40. The Boston Beer Company, Inc. has a 12-month low of $215.10 and a 12-month high of $339.77.

Boston Beer (NYSE:SAM - Get Free Report) last announced its quarterly earnings data 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 return on equity of 11.76% and a net margin of 3.82%. The business had revenue of $481.36 million for the quarter, compared to analyst estimates of $436.27 million. During the same period in the prior year, the company earned $1.04 earnings per share. The company's revenue was up 6.5% on a year-over-year basis. As a group, 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.