New York State Teachers Retirement System increased its holdings in shares of The Boston Beer Company, Inc. (NYSE:SAM – Get Rating) by 12.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,145 shares of the company's stock after purchasing an additional 1,500 shares during the quarter. New York State Teachers Retirement System owned approximately 0.11% of Boston Beer worth $3,983,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. lifted its stake in Boston Beer by 166.7% during the first quarter. Meeder Asset Management Inc. now owns 72 shares of the company's stock worth $28,000 after purchasing an additional 45 shares during the last quarter. National Bank of Canada FI lifted its stake in Boston Beer by 88.2% during the second quarter. National Bank of Canada FI now owns 96 shares of the company's stock worth $29,000 after purchasing an additional 45 shares during the last quarter. Activest Wealth Management lifted its stake in Boston Beer by 733.3% during the second quarter. Activest Wealth Management now owns 125 shares of the company's stock worth $38,000 after purchasing an additional 110 shares during the last quarter. HM Payson & Co. lifted its stake in Boston Beer by 114.3% during the first quarter. HM Payson & Co. now owns 150 shares of the company's stock worth $58,000 after purchasing an additional 80 shares during the last quarter. Finally, MCF Advisors LLC purchased a new stake in Boston Beer during the first quarter worth approximately $61,000. Hedge funds and other institutional investors own 70.32% of the company's stock.
Get Boston Beer alerts:Boston Beer Price Performance
Boston Beer stock opened at $387.83 on Monday. The Boston Beer Company, Inc. has a 1-year low of $287.00 and a 1-year high of $547.71. The company has a market cap of $4.76 billion, a PE ratio of 181.23 and a beta of 0.95. The stock's 50 day moving average price is $344.86 and its 200 day moving average price is $345.64.
Boston Beer (NYSE:SAM – Get Rating) last posted its quarterly earnings results on Thursday, October 20th. The company reported $2.21 earnings per share for the quarter, missing analysts' consensus estimates of $3.48 by ($1.27). Boston Beer had a net margin of 1.31% and a return on equity of 9.71%. The business had revenue of $596.45 million during the quarter, compared to analysts' expectations of $566.42 million. During the same quarter last year, the firm earned $2.97 earnings per share. The firm's quarterly revenue was up 6.2% compared to the same quarter last year. On average, equities research analysts anticipate that The Boston Beer Company, Inc. will post 8.43 EPS for the current fiscal year.Insider Activity at Boston Beer
In related news, VP David L. Grinnell sold 425 shares of Boston Beer stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $379.92, for a total value of $161,466.00. Following the sale, 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 can be accessed through this link. In other Boston Beer news, VP David L. Grinnell sold 425 shares of the business'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 sale, 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 can be accessed through the SEC website. Also, insider Carolyn L. O'boyle sold 251 shares of the business's stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $381.73, for a total value of $95,814.23. Following the sale, the insider now owns 2,593 shares in the company, valued at $989,825.89. The disclosure for this sale can be found here. Insiders have sold a total of 777 shares of company stock worth $292,630 over the last three months. 23.30% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
Several research firms recently weighed in on SAM. Sanford C. Bernstein decreased their target price on Boston Beer to $320.00 in a research note on Friday, July 22nd. TheStreet raised Boston Beer from a "d+" rating to a "c" rating in a research report on Friday, July 22nd. Royal Bank of Canada cut their price target on Boston Beer from $331.00 to $314.00 in a research report on Friday, July 22nd. Credit Suisse Group lifted their price target on Boston Beer from $385.00 to $405.00 and gave the stock an "outperform" rating in a research report on Monday, October 17th. Finally, MKM Partners cut their price target on Boston Beer from $334.00 to $279.00 and set a "neutral" rating on the stock in a research report on Friday, July 22nd. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Boston Beer currently has an average rating of "Hold" and an average target price of $353.43.
Boston Beer Company Profile
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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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