Redwood Investment Management LLC Acquires New Shares in The Boston Beer Company, Inc. (NYSE:SAM)

Redwood Investment Management LLC bought a new position in The Boston Beer Company, Inc. (NYSE:SAM) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 12,287 shares of the company’s stock, valued at approximately $3,686,000.

A number of other hedge funds have also added to or reduced their stakes in SAM. Norges Bank purchased a new stake in shares of Boston Beer in the fourth quarter worth about $30,741,000. J. Goldman & Co LP increased its holdings in Boston Beer by 251.8% during the 4th quarter. J. Goldman & Co LP now owns 119,687 shares of the company’s stock worth $35,904,000 after acquiring an additional 85,669 shares during the period. Cooper Creek Partners Management LLC purchased a new stake in Boston Beer in the 4th quarter worth approximately $25,054,000. Global Alpha Capital Management Ltd. purchased a new stake in Boston Beer in the 4th quarter worth approximately $23,349,000. Finally, Freestone Grove Partners LP bought a new position in Boston Beer in the 4th quarter valued at $21,412,000. Hedge funds and other institutional investors own 81.13% of the company’s stock.

Boston Beer Price Performance

Shares of SAM opened at $238.86 on Thursday. The Boston Beer Company, Inc. has a 1 year low of $215.10 and a 1 year high of $339.77. The stock has a 50 day simple moving average of $238.36 and a two-hundred day simple moving average of $264.78. The firm has a market cap of $2.66 billion, a P/E ratio of 35.13, a P/E/G ratio of 1.23 and a beta of 1.14.

Boston Beer (NYSE:SAM) last announced its quarterly earnings data on Thursday, April 24th. The company reported $2.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $1.38. Boston Beer had a net margin of 3.82% and a return on equity of 11.76%. The firm had revenue of $481.36 million during the quarter, compared to analyst estimates of $436.27 million. During the same period in the previous year, the business posted $1.04 EPS. The business’s quarterly revenue was up 6.5% on a year-over-year basis. On average, equities analysts anticipate that The Boston Beer Company, Inc. will post 9.29 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $279.00 price target on shares of Boston Beer in a report on Tuesday, April 22nd. Roth Mkm restated a “buy” rating and issued a $349.00 target price (down from $389.00) on shares of Boston Beer in a research note on Wednesday, February 26th. Morgan Stanley lowered their price target on Boston Beer from $290.00 to $270.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 26th. Cfra Research upgraded Boston Beer from a “moderate sell” rating to a “moderate buy” rating in a research report on Thursday, April 24th. Finally, StockNews.com upgraded shares of Boston Beer from a “hold” rating to a “buy” rating in a research report on Friday, April 25th. Eight equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $286.12.

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.