Municipal Employees Retirement System of Michigan trimmed its holdings in shares of Boston Beer Company, Inc. (The) (NYSE:SAM) by 23.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,700 shares of the company’s stock after selling 810 shares during the quarter. Municipal Employees Retirement System of Michigan’s holdings in Boston Beer were worth $422,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. increased its holdings in Boston Beer by 95.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 842 shares of the company’s stock valued at $111,000 after buying an additional 411 shares during the period. Victory Capital Management Inc. increased its holdings in Boston Beer by 17.6% during the second quarter. Victory Capital Management Inc. now owns 971 shares of the company’s stock valued at $128,000 after buying an additional 145 shares during the period. IFP Advisors Inc increased its holdings in Boston Beer by 12.7% during the second quarter. IFP Advisors Inc now owns 1,206 shares of the company’s stock valued at $159,000 after buying an additional 136 shares during the period. Cubist Systematic Strategies LLC increased its holdings in Boston Beer by 5.1% during the second quarter. Cubist Systematic Strategies LLC now owns 1,576 shares of the company’s stock valued at $208,000 after buying an additional 76 shares during the period. Finally, Shaker Investments LLC OH purchased a new position in Boston Beer during the third quarter valued at approximately $209,000. 76.06% of the stock is currently owned by institutional investors.
Several research firms have issued reports on SAM. Berenberg Bank reaffirmed a “sell” rating and issued a $124.00 price target on shares of Boston Beer in a report on Monday, September 18th. UBS lowered shares of Boston Beer from a “positive” rating to a “neutral” rating in a report on Monday, November 13th. Stifel Nicolaus began coverage on shares of Boston Beer in a report on Tuesday. They issued a “hold” rating and a $166.00 price target on the stock. Credit Suisse Group raised shares of Boston Beer from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $140.00 to $150.00 in a report on Tuesday, September 26th. Finally, Jefferies Group reaffirmed a “hold” rating on shares of Boston Beer in a report on Thursday, September 7th. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $151.27.
In other news, CMO Jonathan N. Potter sold 439 shares of the business’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $171.90, for a total transaction of $75,464.10. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 31.30% of the stock is owned by insiders.
Shares of Boston Beer Company, Inc. (NYSE SAM) traded up $1.25 on Friday, hitting $189.95. 162,900 shares of the stock were exchanged, compared to its average volume of 164,159. The stock has a market capitalization of $2,219.11, a price-to-earnings ratio of 25.74, a PEG ratio of 6.21 and a beta of 0.57. Boston Beer Company, Inc. has a 12-month low of $128.70 and a 12-month high of $190.80.
Boston Beer (NYSE:SAM) last announced its quarterly earnings data on Thursday, October 26th. The company reported $2.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.99 by $0.79. The firm had revenue of $247.04 million for the quarter, compared to analyst estimates of $256.73 million. Boston Beer had a net margin of 9.97% and a return on equity of 21.11%. The business’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same period in the previous year, the company earned $2.48 earnings per share. equities research analysts anticipate that Boston Beer Company, Inc. will post 6.08 earnings per share for the current fiscal year.
About Boston Beer
The Boston Beer Company, Inc is a craft brewer in the United States. The Company is engaged in the business of producing and selling alcohol beverages primarily in the domestic market and in selected international markets. The Company operates through two segments: Boston Beer Company segment, and A&S Brewing Collaborative segment.
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