Arizona State Retirement System raised its stake in shares of The Boston Beer Company, Inc. (NYSE:SAM – Get Rating) by 6.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,633 shares of the company's stock after purchasing an additional 151 shares during the period. Arizona State Retirement System's holdings in Boston Beer were worth $798,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of SAM. National Bank of Canada FI lifted its stake in Boston Beer by 88.2% in the 2nd quarter. National Bank of Canada FI now owns 96 shares of the company's stock valued at $29,000 after buying an additional 45 shares in the last quarter. Jarislowsky Fraser Ltd lifted its position in shares of Boston Beer by 1.3% in the second quarter. Jarislowsky Fraser Ltd now owns 74,519 shares of the company's stock valued at $22,577,000 after acquiring an additional 923 shares in the last quarter. Bank Hapoalim BM boosted its stake in shares of Boston Beer by 18.7% in the second quarter. Bank Hapoalim BM now owns 2,851 shares of the company's stock worth $864,000 after acquiring an additional 450 shares during the last quarter. Boston Trust Walden Corp increased its position in shares of Boston Beer by 4.4% during the second quarter. Boston Trust Walden Corp now owns 5,395 shares of the company's stock worth $1,635,000 after purchasing an additional 225 shares in the last quarter. Finally, Exchange Traded Concepts LLC raised its stake in Boston Beer by 2.3% in the 2nd quarter. Exchange Traded Concepts LLC now owns 1,436 shares of the company's stock valued at $435,000 after purchasing an additional 32 shares during the last quarter. Institutional investors and hedge funds own 70.32% of the company's stock.
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Analysts Set New Price Targets
A number of equities research analysts have recently issued reports on SAM shares. Jefferies Financial Group dropped their target price on shares of Boston Beer from $384.00 to $341.00 in a report on Thursday, July 21st. TheStreet raised shares of Boston Beer from a "d+" rating to a "c" rating in a research note on Friday, July 22nd. Redburn Partners assumed coverage on Boston Beer in a research report on Wednesday, July 13th. They issued a "sell" rating for the company. Sanford C. Bernstein reduced their price objective on Boston Beer to $320.00 in a research report on Friday, July 22nd. Finally, Wedbush assumed coverage on Boston Beer in a report on Monday, October 10th. They issued a "neutral" rating and a $350.00 target price for the company. Two investment analysts have rated the stock with a sell rating, eleven have assigned 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 target price of $353.43.
Boston Beer Price Performance
NYSE SAM opened at $336.16 on Friday. The stock has a market capitalization of $4.13 billion, a P/E ratio of -69.60 and a beta of 0.95. The firm's 50-day moving average is $344.45 and its two-hundred day moving average is $346.20. The Boston Beer Company, Inc. has a 12 month low of $287.00 and a 12 month high of $547.71.
Boston Beer (NYSE:SAM – Get Rating) last issued its quarterly earnings data on Thursday, July 21st. The company reported $4.31 EPS for the quarter, missing the consensus estimate of $5.29 by ($0.98). Boston Beer had a positive return on equity of 8.60% and a negative net margin of 2.91%. The company had revenue of $616.24 million during the quarter, compared to analyst estimates of $647.10 million. During the same quarter in the prior year, the company posted $4.72 earnings per share. As a group, analysts anticipate that The Boston Beer Company, Inc. will post 8.39 EPS for the current year.
Insider Buying and Selling at Boston Beer
In other news, VP David L. Grinnell sold 425 shares of the firm's stock in a transaction on Monday, August 1st. The stock was sold at an average price of $379.92, for a total transaction of $161,466.00. Following the completion of the transaction, the vice president now directly owns 1,611 shares in the company, valued at $612,051.12. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, insider Carolyn L. O'boyle sold 101 shares of Boston Beer stock in a transaction that occurred on Monday, October 10th. The shares were sold at an average price of $350.00, for a total value of $35,350.00. Following the completion of the transaction, the insider now owns 2,476 shares in the company, valued at $866,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP David L. Grinnell sold 425 shares of the stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $379.92, for a total transaction of $161,466.00. Following the sale, the vice president now owns 1,611 shares in the company, valued at $612,051.12. The disclosure for this sale can be found here. Insiders have sold a total of 777 shares of company stock valued at $292,630 over the last quarter. 23.30% of the stock is owned by company insiders.
About Boston Beer
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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, Truly Hard Seltzer, Angry Orchard, Dogfish Head, Angel City, Coney Island, Concrete Beach brand names.
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