Credit Suisse AG Sells 1,906 Shares of The Boston Beer Company, Inc. (NYSE:SAM)

Credit Suisse AG trimmed its position in shares of The Boston Beer Company, Inc. (NYSE:SAM) by 17.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,737 shares of the company’s stock after selling 1,906 shares during the period. Credit Suisse AG owned 0.07% of Boston Beer worth $2,872,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. OLD Mission Capital LLC purchased a new position in Boston Beer during the fourth quarter valued at $25,000. Fifth Third Bancorp grew its stake in Boston Beer by 172.2% during the first quarter. Fifth Third Bancorp now owns 98 shares of the company’s stock valued at $32,000 after acquiring an additional 62 shares in the last quarter. Eagle Bay Advisors LLC purchased a new position in Boston Beer during the second quarter valued at $32,000. Amundi grew its stake in Boston Beer by 75.6% during the fourth quarter. Amundi now owns 158 shares of the company’s stock valued at $54,000 after acquiring an additional 68 shares in the last quarter. Finally, Baltimore Washington Financial Advisors Inc. purchased a new position in Boston Beer during the first quarter valued at $229,000. 64.10% of the stock is currently owned by institutional investors.

Insider Activity at Boston Beer

In related news, insider John C. Geist sold 3,524 shares of Boston Beer stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $353.00, for a total transaction of $1,243,972.00. Following the completion of the sale, the insider now owns 5,573 shares in the company, valued at approximately $1,967,269. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider John C. Geist sold 3,524 shares of the business’s stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $353.00, for a total value of $1,243,972.00. Following the completion of the sale, the insider now owns 5,573 shares in the company, valued at approximately $1,967,269. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Samuel A. Calagione III sold 12,901 shares of the business’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $361.76, for a total transaction of $4,667,065.76. Following the completion of the sale, the insider now owns 82,050 shares of the company’s stock, valued at approximately $29,682,408. The disclosure for this sale can be found here. Insiders sold 26,425 shares of company stock worth $9,324,538 in the last 90 days. 23.30% of the stock is owned by corporate insiders.

Boston Beer Price Performance

Shares of SAM opened at $367.50 on Friday. The Boston Beer Company, Inc. has a 1-year low of $296.27 and a 1-year high of $422.75. The company has a 50-day moving average of $336.26 and a 200 day moving average of $328.16. The firm has a market capitalization of $4.50 billion, a price-to-earnings ratio of 69.73, a PEG ratio of 1.76 and a beta of 1.07.

Boston Beer (NYSE:SAM) last announced its quarterly earnings data on Thursday, July 27th. The company reported $4.72 earnings per share for the quarter, beating analysts’ consensus estimates of $3.45 by $1.27. Boston Beer had a net margin of 3.06% and a return on equity of 7.94%. The company had revenue of $603.30 million during the quarter, compared to analyst estimates of $590.03 million. During the same quarter last year, the business posted $4.31 EPS. The firm’s revenue for the quarter was down 2.1% on a year-over-year basis. On average, equities analysts anticipate that The Boston Beer Company, Inc. will post 7.68 earnings per share for the current fiscal year.

Analyst Ratings Changes

SAM has been the subject of a number of recent research reports. StockNews.com initiated coverage on shares of Boston Beer in a research note on Thursday, August 17th. They issued a “hold” rating for the company. Roth Capital raised shares of Boston Beer from a “neutral” rating to a “buy” rating in a research note on Tuesday, May 30th. Cfra lifted their price objective on shares of Boston Beer from $300.00 to $350.00 and gave the stock a “hold” rating in a research note on Friday, July 28th. Royal Bank of Canada lifted their price objective on shares of Boston Beer from $311.00 to $328.00 and gave the stock a “sector perform” rating in a research note on Friday, July 28th. Finally, TD Cowen lifted their price objective on shares of Boston Beer from $300.00 to $350.00 and gave the stock a “market perform” rating in a research note on Monday, July 31st. Five equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $318.21.

Boston Beer Profile

The Boston Beer Company, Inc engages in the production and sale of 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 Hard Seltzer, Angry Orchard, Dogfish Head, Angel City, Coney Island, and Havana Lager brand names.