Kornitzer Capital Management Inc. KS Sells 11,728 Shares of The Boston Beer Company, Inc. (NYSE:SAM)

Kornitzer Capital Management Inc. KS cut its holdings in The Boston Beer Company, Inc. (NYSE:SAM) by 71.7% during the fourth quarter, HoldingsChannel reports. The firm owned 4,632 shares of the company’s stock after selling 11,728 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Boston Beer were worth $1,601,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Wellington Management Group LLP grew its position in Boston Beer by 26.5% during the third quarter. Wellington Management Group LLP now owns 66,548 shares of the company’s stock worth $25,922,000 after buying an additional 13,951 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in Boston Beer during the fourth quarter worth about $64,490,000. AQR Capital Management LLC grew its position in Boston Beer by 65.9% during the third quarter. AQR Capital Management LLC now owns 115,411 shares of the company’s stock worth $44,433,000 after buying an additional 45,864 shares in the last quarter. Northern Trust Corp grew its position in Boston Beer by 1.9% during the third quarter. Northern Trust Corp now owns 70,324 shares of the company’s stock worth $27,393,000 after buying an additional 1,315 shares in the last quarter. Finally, iA Global Asset Management Inc. acquired a new stake in Boston Beer during the third quarter worth about $6,627,000. 81.13% of the stock is currently owned by institutional investors.

Boston Beer Price Performance

Shares of SAM opened at $286.98 on Monday. The company has a market capitalization of $3.45 billion, a P/E ratio of 46.29, a PEG ratio of 1.17 and a beta of 1.02. The Boston Beer Company, Inc. has a one year low of $274.78 and a one year high of $395.52. The business’s 50 day simple moving average is $310.43 and its 200-day simple moving average is $335.79.

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

Insider Buying and Selling

In related news, insider Carolyn L. O’boyle sold 101 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 7,029 shares in the company, valued at approximately $2,133,231.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Carolyn L. O’boyle sold 102 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $350.72, for a total value of $35,773.44. Following the completion of the transaction, the insider now owns 2,630 shares in the company, valued at approximately $922,393.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Carolyn L. O’boyle sold 101 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $303.49, for a total transaction of $30,652.49. Following the completion of the transaction, the insider now owns 7,029 shares of the company’s stock, valued at approximately $2,133,231.21. The disclosure for this sale can be found here. 24.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Morgan Stanley decreased their target price on Boston Beer from $285.00 to $275.00 and set an “underweight” rating on the stock in a research report on Wednesday, February 28th. The Goldman Sachs Group decreased their target price on Boston Beer from $257.00 to $250.00 and set a “sell” rating on the stock in a research report on Tuesday, April 9th. Roth Mkm lifted their price objective on Boston Beer from $406.00 to $422.00 and gave the company a “buy” rating in a report on Tuesday, January 23rd. Sanford C. Bernstein raised Boston Beer from an “underperform” rating to a “market perform” rating and lifted their price objective for the company from $280.00 to $335.00 in a report on Tuesday, January 16th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $337.00 price objective on shares of Boston Beer in a report on Wednesday, February 28th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Boston Beer has a consensus rating of “Hold” and a consensus target price of $334.86.

Boston Beer Company Profile

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.