Connor Clark & Lunn Investment Management Ltd. Purchases 11,755 Shares of The Boston Beer Company, Inc. $SAM

Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of The Boston Beer Company, Inc. (NYSE:SAM) by 353.7% in the 2nd quarter, Holdings Channel.com reports. The fund owned 15,078 shares of the company’s stock after buying an additional 11,755 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Boston Beer were worth $2,877,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the company. Elequin Capital LP bought a new position in Boston Beer in the 1st quarter valued at approximately $30,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Boston Beer in the 1st quarter worth $44,000. Signaturefd LLC raised its stake in shares of Boston Beer by 483.7% in the first quarter. Signaturefd LLC now owns 251 shares of the company’s stock worth $60,000 after purchasing an additional 208 shares during the last quarter. US Bancorp DE lifted its holdings in shares of Boston Beer by 23.5% during the first quarter. US Bancorp DE now owns 336 shares of the company’s stock valued at $80,000 after purchasing an additional 64 shares in the last quarter. Finally, Plato Investment Management Ltd purchased a new stake in shares of Boston Beer during the first quarter valued at $104,000. 81.13% of the stock is currently owned by hedge funds and other institutional investors.

Boston Beer Stock Down 1.5%

Shares of NYSE:SAM opened at $198.04 on Friday. The stock has a market capitalization of $2.11 billion, a PE ratio of 23.35, a price-to-earnings-growth ratio of 1.85 and a beta of 0.91. The firm’s 50 day moving average price is $216.41 and its 200-day moving average price is $216.82. The Boston Beer Company, Inc. has a twelve month low of $185.34 and a twelve month high of $323.98.

Boston Beer (NYSE:SAM) last announced its earnings results on Thursday, October 23rd. The company reported $4.25 EPS for the quarter, beating analysts’ consensus estimates of $3.78 by $0.47. Boston Beer had a net margin of 4.38% and a return on equity of 12.29%. The business had revenue of $537.49 million during the quarter, compared to analysts’ expectations of $542.97 million. During the same period in the prior year, the company earned $2.86 earnings per share. The firm’s revenue was down 11.2% on a year-over-year basis. Boston Beer has set its FY 2025 guidance at 7.800-9.800 EPS. Analysts expect that The Boston Beer Company, Inc. will post 9.29 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Evercore ISI decreased their target price on Boston Beer from $275.00 to $250.00 and set an “in-line” rating for the company in a research report on Friday, July 25th. Citigroup lowered shares of Boston Beer from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $255.00 to $235.00 in a research note on Monday, October 6th. Sanford C. Bernstein set a $230.00 price objective on shares of Boston Beer and gave the company a “market perform” rating in a report on Monday, July 28th. Jefferies Financial Group lowered their price objective on shares of Boston Beer from $230.00 to $225.00 and set a “hold” rating on the stock in a research report on Tuesday, September 30th. Finally, Morgan Stanley cut their target price on shares of Boston Beer from $270.00 to $245.00 and set an “equal weight” rating for the company in a research report on Friday, July 25th. One equities research analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $250.65.

Insider Activity at Boston Beer

In related news, Director Michael Spillane sold 3,120 shares of the firm’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $205.78, for a total value of $642,033.60. Following the transaction, the director directly owned 10,877 shares of the company’s stock, valued at approximately $2,238,269.06. This trade represents a 22.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 26.10% of the stock is owned by company insiders.

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.