Bank of Montreal Can Makes New $342,000 Investment in The Boston Beer Company, Inc. (NYSE:SAM)

Bank of Montreal Can purchased a new position in shares of The Boston Beer Company, Inc. (NYSE:SAM) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,010 shares of the company’s stock, valued at approximately $342,000.

Other large investors have also recently made changes to their positions in the company. Assenagon Asset Management S.A. purchased a new position in shares of Boston Beer during the second quarter worth approximately $702,000. SG Americas Securities LLC grew its holdings in shares of Boston Beer by 233.4% in the first quarter. SG Americas Securities LLC now owns 3,927 shares of the company’s stock worth $1,291,000 after purchasing an additional 2,749 shares during the last quarter. Virtu Financial LLC grew its holdings in shares of Boston Beer by 27.6% in the second quarter. Virtu Financial LLC now owns 1,591 shares of the company’s stock worth $491,000 after purchasing an additional 344 shares during the last quarter. Symphony Financial Ltd. Co. grew its holdings in shares of Boston Beer by 63.2% in the first quarter. Symphony Financial Ltd. Co. now owns 1,550 shares of the company’s stock worth $507,000 after purchasing an additional 600 shares during the last quarter. Finally, Texas Permanent School Fund Corp grew its holdings in shares of Boston Beer by 33.4% in the first quarter. Texas Permanent School Fund Corp now owns 8,454 shares of the company’s stock worth $2,779,000 after purchasing an additional 2,117 shares during the last quarter. 64.10% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Boston Beer news, insider Carolyn L. O’boyle sold 102 shares of the business’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $333.96, for a total value of $34,063.92. Following the completion of the transaction, the insider now owns 2,936 shares of the company’s stock, valued at approximately $980,506.56. The sale was disclosed in a legal filing with the SEC, which is available through this link. 23.30% of the stock is owned by insiders.

Boston Beer Price Performance

SAM opened at $340.87 on Monday. The stock has a 50-day moving average price of $360.15 and a 200-day moving average price of $342.69. The firm has a market cap of $4.16 billion, a PE ratio of 50.42, a P/E/G ratio of 1.41 and a beta of 1.11. The Boston Beer Company, Inc. has a 1 year low of $296.27 and a 1 year high of $420.49.

Boston Beer (NYSE:SAM) last posted its quarterly earnings results on Thursday, October 26th. The company reported $4.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.25 by $0.41. The firm had revenue of $601.60 million during the quarter, compared to analyst estimates of $592.88 million. Boston Beer had a return on equity of 8.77% and a net margin of 3.83%. As a group, sell-side analysts anticipate that The Boston Beer Company, Inc. will post 8.32 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently issued reports on SAM shares. Cfra raised their target price on shares of Boston Beer from $300.00 to $350.00 and gave the stock a “hold” rating in a report on Friday, July 28th. Morgan Stanley lifted their price target on shares of Boston Beer from $270.00 to $285.00 and gave the company an “underweight” rating in a report on Friday, October 27th. Wedbush lifted their price target on shares of Boston Beer from $370.00 to $378.00 and gave the company a “neutral” rating in a report on Wednesday, October 25th. Citigroup lifted their price target on shares of Boston Beer from $350.00 to $370.00 and gave the company a “neutral” rating in a report on Wednesday, October 11th. Finally, TD Cowen lifted their price target on shares of Boston Beer from $300.00 to $350.00 and gave the company a “market perform” rating in a report on Monday, July 31st. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Boston Beer currently has an average rating of “Hold” and an average target price of $341.38.

Boston Beer Company 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.