TD Asset Management Inc. reduced its position in shares of Boston Beer Company Inc (NYSE:SAM) by 3.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,217 shares of the company’s stock after selling 300 shares during the period. TD Asset Management Inc. owned approximately 0.08% of Boston Beer worth $3,482,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently added to or reduced their stakes in the company. Advisor Group Inc. lifted its holdings in Boston Beer by 24.2% during the 2nd quarter. Advisor Group Inc. now owns 4,721 shares of the company’s stock worth $1,783,000 after buying an additional 919 shares during the period. Cookson Peirce & Co. Inc. acquired a new position in Boston Beer during the 2nd quarter worth approximately $293,000. Aperio Group LLC raised its stake in Boston Beer by 2.1% during the 2nd quarter. Aperio Group LLC now owns 20,389 shares of the company’s stock worth $7,702,000 after buying an additional 426 shares during the period. First Trust Advisors LP raised its stake in Boston Beer by 16.4% during the 2nd quarter. First Trust Advisors LP now owns 12,197 shares of the company’s stock worth $4,608,000 after buying an additional 1,717 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new position in Boston Beer during the 2nd quarter worth approximately $242,000. 70.25% of the stock is owned by institutional investors and hedge funds.
A number of research analysts recently weighed in on SAM shares. Royal Bank of Canada set a $346.00 price target on Boston Beer and gave the stock a “hold” rating in a research note on Friday, July 26th. BMO Capital Markets upped their price target on Boston Beer to $350.00 and gave the stock a “market perform” rating in a research note on Friday, July 26th. Zacks Investment Research downgraded Boston Beer from a “strong-buy” rating to a “hold” rating and set a $415.00 price target on the stock. in a research note on Wednesday, June 26th. ValuEngine raised Boston Beer from a “hold” rating to a “buy” rating in a research note on Thursday, April 25th. Finally, Credit Suisse Group upped their price target on Boston Beer from $320.00 to $375.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $345.23.
Shares of SAM opened at $439.60 on Thursday. The stock has a 50 day moving average price of $395.85 and a two-hundred day moving average price of $329.39. The firm has a market capitalization of $5.12 billion, a P/E ratio of 58.85, a P/E/G ratio of 4.73 and a beta of 0.68. Boston Beer Company Inc has a 52 week low of $230.93 and a 52 week high of $440.48.
Boston Beer (NYSE:SAM) last issued its quarterly earnings data on Thursday, July 25th. The company reported $2.34 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.51. The firm had revenue of $318.40 million during the quarter, compared to analyst estimates of $308.49 million. Boston Beer had a return on equity of 22.89% and a net margin of 9.92%. The company’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.98 EPS. On average, analysts expect that Boston Beer Company Inc will post 8.93 earnings per share for the current year.
In other news, VP David L. Grinnell sold 500 shares of the company’s stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $357.50, for a total value of $178,750.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jean Michel Valette sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $400.00, for a total value of $1,000,000.00. Following the completion of the transaction, the director now directly owns 27,258 shares of the company’s stock, valued at $10,903,200. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,500 shares of company stock valued at $2,130,425. 28.40% of the stock is currently owned by corporate insiders.
Boston Beer Company 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, and hard seltzers under the Samuel Adams, Twisted Tea, Angry Orchard Hard Cider, and Truly Hard Seltzer brand names.
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