Boston Beer Company Inc (NYSE:SAM) Stake Lowered by GAM Holding AG

GAM Holding AG reduced its holdings in Boston Beer Company Inc (NYSE:SAM) by 41.0% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 1,728 shares of the company’s stock after selling 1,203 shares during the quarter. GAM Holding AG’s holdings in Boston Beer were worth $509,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of SAM. Norges Bank purchased a new position in Boston Beer in the 4th quarter valued at approximately $22,173,000. FMR LLC increased its stake in Boston Beer by 303,565.2% in the 4th quarter. FMR LLC now owns 69,843 shares of the company’s stock valued at $16,821,000 after purchasing an additional 69,820 shares in the last quarter. MERIAN GLOBAL INVESTORS UK Ltd increased its stake in Boston Beer by 24.8% in the 4th quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 224,011 shares of the company’s stock valued at $53,950,000 after purchasing an additional 44,527 shares in the last quarter. Squarepoint Ops LLC increased its stake in Boston Beer by 2,573.5% in the 4th quarter. Squarepoint Ops LLC now owns 22,805 shares of the company’s stock valued at $5,492,000 after purchasing an additional 21,952 shares in the last quarter. Finally, BlackRock Inc. increased its stake in Boston Beer by 2.3% in the 4th quarter. BlackRock Inc. now owns 972,983 shares of the company’s stock valued at $234,331,000 after purchasing an additional 21,945 shares in the last quarter. 74.64% of the stock is owned by institutional investors and hedge funds.

In other news, CEO David A. Burwick sold 5,105 shares of the firm’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $303.57, for a total transaction of $1,549,724.85. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP David L. Grinnell sold 500 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $342.50, for a total value of $171,250.00. The disclosure for this sale can be found here. Insiders have sold 14,605 shares of company stock valued at $4,349,825 in the last three months. 28.40% of the stock is currently owned by company insiders.

Boston Beer stock opened at $338.21 on Thursday. The firm has a market cap of $3.93 billion, a price-to-earnings ratio of 45.28, a P/E/G ratio of 3.73 and a beta of 0.55. Boston Beer Company Inc has a fifty-two week low of $230.93 and a fifty-two week high of $353.02.

Boston Beer (NYSE:SAM) last released its quarterly earnings results on Wednesday, April 24th. The company reported $1.87 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.98. The company had revenue of $252.00 million during the quarter, compared to the consensus estimate of $232.19 million. Boston Beer had a return on equity of 23.00% and a net margin of 9.94%. Boston Beer’s revenue was up 32.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.55 earnings per share. As a group, sell-side analysts forecast that Boston Beer Company Inc will post 8.59 EPS for the current fiscal year.

SAM has been the subject of several research analyst reports. Macquarie raised Boston Beer from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $260.00 to $275.00 in a research note on Thursday, February 21st. Guggenheim reaffirmed a “buy” rating and issued a $308.00 price objective on shares of Boston Beer in a research note on Thursday, February 21st. ValuEngine raised Boston Beer from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 22nd. BMO Capital Markets raised their price objective on Boston Beer to $275.00 and gave the company a “market perform” rating in a research note on Thursday, February 21st. Finally, Citigroup set a $311.00 price objective on Boston Beer and gave the company a “hold” rating in a research note on Tuesday, February 26th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $286.37.

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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.

Further Reading: Certificate of Deposit (CD)

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Institutional Ownership by Quarter for Boston Beer (NYSE:SAM)

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