The Boston Beer Company, Inc. (NYSE:SAM) Stock Position Reduced by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. trimmed its holdings in The Boston Beer Company, Inc. (NYSE:SAM - Free Report) by 83.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,264 shares of the company's stock after selling 27,463 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Boston Beer were worth $1,819,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Covestor Ltd boosted its position in shares of Boston Beer by 88.4% during the 3rd quarter. Covestor Ltd now owns 81 shares of the company's stock worth $32,000 after purchasing an additional 38 shares during the period. Eagle Bay Advisors LLC acquired a new stake in shares of Boston Beer in the 2nd quarter valued at $32,000. First Command Advisory Services Inc. acquired a new stake in shares of Boston Beer during the third quarter worth about $56,000. DekaBank Deutsche Girozentrale acquired a new position in Boston Beer during the third quarter worth approximately $59,000. Finally, Lazard Asset Management LLC acquired a new position in Boston Beer during the third quarter worth approximately $60,000. 81.13% of the stock is owned by hedge funds and other institutional investors.

Boston Beer Stock Down 0.5 %

Shares of Boston Beer stock traded down $1.56 during trading on Friday, reaching $294.44. The company's stock had a trading volume of 93,810 shares, compared to its average volume of 140,591. The Boston Beer Company, Inc. has a 12-month low of $287.33 and a 12-month high of $395.52. The company has a market capitalization of $3.54 billion, a P/E ratio of 47.49, a price-to-earnings-growth ratio of 1.07 and a beta of 1.02. The business has a 50 day moving average price of $324.12 and a 200-day moving average price of $342.90.

Boston Beer (NYSE:SAM - Get Free Report) last posted its quarterly earnings results on Tuesday, February 27th. The company reported ($1.49) earnings per share for the quarter, missing analysts' consensus estimates of ($0.22) by ($1.27). Boston Beer had a net margin of 3.61% and a return on equity of 8.13%. The business had revenue of $393.72 million during the quarter, compared to analysts' expectations of $413.57 million. During the same quarter last year, the firm earned ($0.93) earnings per share. The firm's quarterly revenue was down 12.0% compared to the same quarter last year. Research analysts predict that The Boston Beer Company, Inc. will post 9.98 EPS for the current fiscal year.

Insiders Place Their Bets

In other Boston Beer news, insider Carolyn L. O'boyle sold 101 shares of the business's stock in a transaction on Monday, April 1st. The stock was sold at an average price of $303.49, for a total transaction of $30,652.49. Following the sale, the insider now directly owns 7,029 shares in the company, valued at $2,133,231.21. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Boston Beer news, insider Carolyn L. O'boyle sold 102 shares of the business's stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $350.72, for a total transaction of $35,773.44. Following the sale, the insider now directly owns 2,630 shares in the company, valued at $922,393.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Carolyn L. O'boyle sold 101 shares of the business's stock in a transaction on Monday, April 1st. The stock was sold at an average price of $303.49, for a total value of $30,652.49. Following the sale, the insider now owns 7,029 shares in the company, valued at $2,133,231.21. The disclosure for this sale can be found here. 23.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have commented on SAM. Sanford C. Bernstein raised Boston Beer from an "underperform" rating to a "market perform" rating and lifted their price target for the stock from $280.00 to $335.00 in a research report on Tuesday, January 16th. Morgan Stanley cut their price target on Boston Beer from $285.00 to $275.00 and set an "underweight" rating on the stock in a research report on Wednesday, February 28th. Piper Sandler initiated coverage on Boston Beer in a research report on Friday, March 22nd. They set an "overweight" rating and a $350.00 price target on the stock. Royal Bank of Canada reissued a "sector perform" rating and issued a $337.00 target price on shares of Boston Beer in a report on Wednesday, February 28th. Finally, UBS Group dropped their target price on Boston Beer from $390.00 to $355.00 and set a "neutral" rating on the stock in a report on Wednesday, February 28th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $344.08.

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.