Cubist Systematic Strategies LLC Raises Stock Position in The Boston Beer Company, Inc. (NYSE:SAM)

Cubist Systematic Strategies LLC raised its holdings in The Boston Beer Company, Inc. (NYSE:SAM – Get Rating) by 138.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 12,580 shares of the company’s stock after purchasing an additional 7,302 shares during the quarter. Cubist Systematic Strategies LLC owned 0.10% of Boston Beer worth $4,072,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Eagle Bay Advisors LLC acquired a new stake in Boston Beer during the second quarter worth about $32,000. Wipfli Financial Advisors LLC purchased a new position in Boston Beer in the third quarter valued at $38,000. Quadrant Capital Group LLC raised its position in shares of Boston Beer by 47.6% in the second quarter. Quadrant Capital Group LLC now owns 121 shares of the company’s stock worth $37,000 after acquiring an additional 39 shares during the period. Dark Forest Capital Management LP purchased a new stake in shares of Boston Beer during the 2nd quarter worth about $40,000. Finally, Lazard Asset Management LLC acquired a new stake in shares of Boston Beer during the 2nd quarter valued at about $48,000. 68.72% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

SAM has been the topic of a number of recent analyst reports. Sanford C. Bernstein downgraded Boston Beer from a “market perform” rating to an “underperform” rating and lowered their price target for the stock from $320.00 to $255.00 in a research report on Thursday, February 16th. UBS Group dropped their price target on shares of Boston Beer from $416.00 to $376.00 and set a “neutral” rating on the stock in a research note on Thursday, February 16th. Citigroup assumed coverage on shares of Boston Beer in a research report on Thursday, February 16th. They set a “neutral” rating and a $370.00 price objective for the company. Jefferies Financial Group downgraded shares of Boston Beer from a “hold” rating to an “underperform” rating and decreased their price objective for the company from $331.00 to $275.00 in a report on Wednesday, January 4th. Finally, Credit Suisse Group cut their target price on shares of Boston Beer from $400.00 to $375.00 and set an “outperform” rating for the company in a research note on Thursday, February 16th. Six equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Boston Beer currently has a consensus rating of “Hold” and an average price target of $335.19.

Insiders Place Their Bets

In other news, insider John C. Geist sold 646 shares of the stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $320.14, for a total value of $206,810.44. Following the completion of the sale, the insider now owns 5,573 shares of the company’s stock, valued at approximately $1,784,140.22. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 23.30% of the stock is owned by insiders.

Boston Beer Price Performance

SAM stock opened at $319.14 on Monday. The Boston Beer Company, Inc. has a 1 year low of $287.00 and a 1 year high of $422.75. The firm has a market capitalization of $3.92 billion, a PE ratio of 58.77 and a beta of 1.05. The business has a 50 day simple moving average of $352.27 and a 200-day simple moving average of $354.56.

Boston Beer (NYSE:SAM – Get Rating) last issued its earnings results on Wednesday, February 15th. The company reported ($0.93) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.72 by ($1.65). The company had revenue of $447.53 million during the quarter, compared to analyst estimates of $392.76 million. Boston Beer had a return on equity of 8.36% and a net margin of 3.12%. The firm’s revenue was up 28.6% compared to the same quarter last year. During the same period last year, the business earned ($0.09) earnings per share. On average, equities research analysts expect that The Boston Beer Company, Inc. will post 8 EPS for the current year.

About Boston Beer

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Boston Beer Co, Inc engages in the production of alcoholic beverages. Its brands include Truly Hard Seltzer, Twisted Tea, Samuel Adams, Angry Orchard, Hard Cider and Dogfish Head Craft Brewery. Boston Beer produces alcohol beverages, including hard seltzer, malt beverages (“beers“), and hard cider at company-owned breweries and its cidery, and under contract arrangements at other brewery locations.