Cubist Systematic Strategies LLC Sells 1,493 Shares of The Boston Beer Company, Inc. (NYSE:SAM)

Cubist Systematic Strategies LLC decreased its position in shares of The Boston Beer Company, Inc. (NYSE:SAM) by 11.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,013 shares of the company’s stock after selling 1,493 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Boston Beer were worth $3,304,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Blue Trust Inc. grew its holdings in shares of Boston Beer by 405.6% during the fourth quarter. Blue Trust Inc. now owns 91 shares of the company’s stock worth $26,000 after purchasing an additional 73 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in Boston Beer by 2,225.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 93 shares of the company’s stock worth $28,000 after acquiring an additional 89 shares during the last quarter. GeoWealth Management LLC bought a new stake in Boston Beer during the 4th quarter worth approximately $35,000. GAMMA Investing LLC increased its position in Boston Beer by 59.3% in the 4th quarter. GAMMA Investing LLC now owns 129 shares of the company’s stock valued at $39,000 after acquiring an additional 48 shares during the period. Finally, First Horizon Advisors Inc. raised its stake in shares of Boston Beer by 42.1% during the fourth quarter. First Horizon Advisors Inc. now owns 172 shares of the company’s stock valued at $52,000 after acquiring an additional 51 shares during the last quarter. Institutional investors own 81.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. UBS Group increased their price objective on Boston Beer from $265.00 to $279.00 and gave the company a “neutral” rating in a report on Thursday, April 17th. Needham & Company LLC restated a “hold” rating on shares of Boston Beer in a research report on Friday, April 25th. Piper Sandler reduced their target price on Boston Beer from $240.00 to $230.00 and set a “neutral” rating on the stock in a report on Thursday, April 17th. Royal Bank of Canada restated a “sector perform” rating and set a $279.00 price target on shares of Boston Beer in a report on Tuesday, April 22nd. Finally, Citigroup upped their price objective on shares of Boston Beer from $280.00 to $285.00 and gave the company a “buy” rating in a research note on Monday, April 14th. Eight equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $286.12.

Boston Beer Stock Down 0.9 %

Boston Beer stock opened at $242.73 on Friday. The company has a market capitalization of $2.71 billion, a PE ratio of 35.70, a PEG ratio of 1.23 and a beta of 1.14. The firm’s fifty day moving average is $238.11 and its 200 day moving average is $265.75. The Boston Beer Company, Inc. has a 12-month low of $215.10 and a 12-month high of $339.77.

Boston Beer (NYSE:SAM) last released its quarterly earnings data on Thursday, April 24th. The company reported $2.16 earnings per share (EPS) 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 company had revenue of $481.36 million for the quarter, compared to analysts’ expectations of $436.27 million. During the same quarter in the prior year, the firm earned $1.04 EPS. The business’s revenue was up 6.5% on a year-over-year basis. Sell-side analysts expect that The Boston Beer Company, Inc. will post 9.29 EPS for the current fiscal year.

About Boston Beer

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.