State of Alaska Department of Revenue Sells 95 Shares of The Boston Beer Company, Inc. (NYSE:SAM)

State of Alaska Department of Revenue lowered its holdings in shares of The Boston Beer Company, Inc. (NYSE:SAM) by 8.5% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 1,019 shares of the company’s stock after selling 95 shares during the period. State of Alaska Department of Revenue’s holdings in Boston Beer were worth $352,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Covestor Ltd lifted its position in Boston Beer by 88.4% during the third quarter. Covestor Ltd now owns 81 shares of the company’s stock worth $32,000 after acquiring an additional 38 shares during the last quarter. Eagle Bay Advisors LLC acquired a new stake in Boston Beer during the second quarter worth approximately $32,000. Amundi lifted its position in Boston Beer by 75.6% during the fourth quarter. Amundi now owns 158 shares of the company’s stock worth $54,000 after acquiring an additional 68 shares during the last quarter. First Command Advisory Services Inc. acquired a new stake in Boston Beer during the third quarter worth approximately $56,000. Finally, DekaBank Deutsche Girozentrale acquired a new stake in Boston Beer during the third quarter worth approximately $59,000. Institutional investors own 81.13% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Piper Sandler assumed coverage on shares of Boston Beer in a research report on Friday, March 22nd. They set an “overweight” rating and a $350.00 price objective for the company. The Goldman Sachs Group cut their price objective on shares of Boston Beer from $257.00 to $250.00 and set a “sell” rating for the company in a research report on Tuesday, April 9th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $337.00 price target on shares of Boston Beer in a research report on Wednesday, February 28th. UBS Group dropped their price target on shares of Boston Beer from $390.00 to $355.00 and set a “neutral” rating for the company in a research report on Wednesday, February 28th. Finally, Sanford C. Bernstein upgraded shares of Boston Beer from an “underperform” rating to a “market perform” rating and lifted their price target for the company from $280.00 to $335.00 in a research report on Tuesday, January 16th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $337.36.

Boston Beer Price Performance

Shares of NYSE:SAM opened at $285.65 on Friday. The company’s 50 day simple moving average is $317.56 and its 200 day simple moving average is $339.71. The stock has a market capitalization of $3.43 billion, a price-to-earnings ratio of 46.07, a price-to-earnings-growth ratio of 1.05 and a beta of 1.02. The Boston Beer Company, Inc. has a 1 year low of $284.70 and a 1 year high of $395.52.

Boston Beer (NYSE:SAM) last announced its quarterly earnings data on Tuesday, February 27th. The company reported ($1.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($1.27). The firm had revenue of $393.72 million during the quarter, compared to the consensus estimate of $413.57 million. Boston Beer had a net margin of 3.61% and a return on equity of 8.13%. The business’s revenue was down 12.0% compared to the same quarter last year. During the same period last year, the business earned ($0.93) earnings per share. As a group, analysts anticipate that The Boston Beer Company, Inc. will post 9.98 EPS for the current fiscal year.

Insiders Place Their Bets

In other Boston Beer news, insider Carolyn L. O’boyle sold 101 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $303.49, for a total transaction of $30,652.49. Following the sale, the insider now owns 7,029 shares of the company’s stock, valued at $2,133,231.21. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Carolyn L. O’boyle sold 101 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $303.49, for a total value of $30,652.49. Following the sale, the insider now owns 7,029 shares of the company’s stock, valued at $2,133,231.21. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Carolyn L. O’boyle sold 102 shares of the business’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $350.72, for a total transaction of $35,773.44. Following the completion of the sale, the insider now directly owns 2,630 shares in the company, valued at approximately $922,393.60. The disclosure for this sale can be found here. Insiders own 23.30% of the company’s stock.

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, flavored malt beverages, and hard seltzers under the Samuel Adams, Twisted Tea, Truly, Angry Orchard, Dogfish Head, Angel City, and Coney Island brand names.