Mutual of America Capital Management LLC grew its position in shares of The Boston Beer Company, Inc. (NYSE:SAM – Get Rating) by 1.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,443 shares of the company’s stock after purchasing an additional 161 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Boston Beer were worth $3,280,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. FNY Investment Advisers LLC bought a new position in shares of Boston Beer during the fourth quarter worth about $25,000. Cornerstone Advisory LLC bought a new position in shares of Boston Beer during the fourth quarter worth about $30,000. Allegheny Financial Group LTD bought a new position in shares of Boston Beer during the fourth quarter worth about $33,000. Addison Advisors LLC bought a new position in shares of Boston Beer during the fourth quarter worth about $47,000. Finally, Gladius Capital Management LP bought a new position in shares of Boston Beer during the fourth quarter worth about $80,000. 62.12% of the stock is owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other Boston Beer news, VP David L. Grinnell sold 425 shares of the business’s stock in a transaction on Friday, July 1st. The stock was sold at an average price of $304.97, for a total value of $129,612.25. Following the transaction, the vice president now owns 1,611 shares of the company’s stock, valued at $491,306.67. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 23.30% of the company’s stock.
Boston Beer Stock Down 4.1 %
Shares of NYSE:SAM opened at $360.97 on Wednesday. The stock has a market cap of $4.43 billion, a price-to-earnings ratio of -74.73 and a beta of 0.87. The Boston Beer Company, Inc. has a 12-month low of $287.00 and a 12-month high of $731.70. The business’s 50 day moving average is $326.02 and its 200 day moving average is $370.74.
Boston Beer (NYSE:SAM – Get Rating) last posted its quarterly earnings data on Thursday, July 21st. The company reported $4.31 earnings per share for the quarter, missing the consensus estimate of $5.23 by ($0.92). Boston Beer had a positive return on equity of 8.60% and a negative net margin of 2.91%. During the same period in the previous year, the firm posted $4.72 earnings per share. As a group, equities research analysts expect that The Boston Beer Company, Inc. will post 10.54 earnings per share for the current year.
Analyst Upgrades and Downgrades
A number of equities analysts have recently issued reports on the company. Evercore ISI lowered their price objective on Boston Beer from $600.00 to $400.00 in a research report on Friday, April 22nd. TheStreet upgraded Boston Beer from a “d+” rating to a “c” rating in a report on Friday, July 22nd. Guggenheim lowered their target price on Boston Beer from $660.00 to $520.00 and set a “buy” rating for the company in a report on Wednesday, April 20th. Jefferies Financial Group lowered their target price on Boston Beer from $384.00 to $341.00 in a report on Thursday, July 21st. Finally, Redburn Partners initiated coverage on Boston Beer in a report on Wednesday, July 13th. They issued a “sell” rating for the company. Two analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Boston Beer currently has an average rating of “Hold” and a consensus price target of $387.57.
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, and hard seltzers under the Samuel Adams, Twisted Tea, Truly Hard Seltzer, Angry Orchard, Dogfish Head, Angel City, Coney Island, Concrete Beach brand names.
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