Point72 Hong Kong Ltd Has $680,000 Position in The Boston Beer Company, Inc. (NYSE:SAM)

Point72 Hong Kong Ltd reduced its holdings in shares of The Boston Beer Company, Inc. (NYSE:SAM - Free Report) by 62.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,268 shares of the company's stock after selling 3,769 shares during the quarter. Point72 Hong Kong Ltd's holdings in Boston Beer were worth $680,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in SAM. Norges Bank bought a new position in Boston Beer during the fourth quarter worth $30,741,000. J. Goldman & Co LP lifted its stake in Boston Beer by 251.8% in the fourth quarter. J. Goldman & Co LP now owns 119,687 shares of the company's stock valued at $35,904,000 after buying an additional 85,669 shares during the last quarter. Cooper Creek Partners Management LLC bought a new stake in shares of Boston Beer during the fourth quarter valued at about $25,054,000. Global Alpha Capital Management Ltd. purchased a new position in Boston Beer in the 4th quarter worth about $23,349,000. Finally, Freestone Grove Partners LP acquired a new stake in Boston Beer during the 4th quarter worth about $21,412,000. 81.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Piper Sandler lowered their price objective on Boston Beer from $240.00 to $230.00 and set a "neutral" rating on the stock in a research report on Thursday, April 17th. Berenberg Bank assumed coverage on Boston Beer in a report on Wednesday, April 2nd. They issued a "hold" rating and a $281.10 price target for the company. Citigroup increased their price target on Boston Beer from $280.00 to $285.00 and gave the stock a "buy" rating in a report on Monday, April 14th. Royal Bank of Canada restated a "sector perform" rating and issued a $279.00 price target on shares of Boston Beer in a report on Tuesday, April 22nd. Finally, StockNews.com upgraded Boston Beer from a "hold" rating to a "buy" rating in a report on Friday, April 25th. Eight analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $286.12.

Boston Beer Stock Down 1.3%

Shares of NYSE:SAM traded down $3.28 during mid-day trading on Tuesday, reaching $243.35. 93,708 shares of the stock were exchanged, compared to its average volume of 164,869. The company has a market cap of $2.71 billion, a P/E ratio of 35.79, a P/E/G ratio of 1.23 and a beta of 1.14. The Boston Beer Company, Inc. has a one year low of $215.10 and a one year high of $339.77. The stock's 50 day simple moving average is $239.23 and its 200-day simple moving average is $263.26.

Boston Beer (NYSE:SAM - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The company reported $2.16 EPS for the quarter, beating the consensus estimate of $0.78 by $1.38. Boston Beer had a return on equity of 11.76% and a net margin of 3.82%. The firm had revenue of $481.36 million during the quarter, compared to analysts' expectations of $436.27 million. During the same period in the prior year, the firm posted $1.04 earnings per share. The business's quarterly revenue was up 6.5% compared to the same quarter last year. Analysts anticipate that The Boston Beer Company, Inc. will post 9.29 EPS for the current fiscal year.

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.