Raymond James Financial Services Advisors Inc. Lowers Position in The Boston Beer Company, Inc. (NYSE:SAM)

Raymond James Financial Services Advisors Inc. reduced its position in shares of The Boston Beer Company, Inc. (NYSE:SAM) by 7.7% in the 4th quarter, HoldingsChannel reports. The firm owned 695 shares of the company’s stock after selling 58 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Boston Beer were worth $240,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its stake in shares of Boston Beer by 26.5% in the third quarter. Wellington Management Group LLP now owns 66,548 shares of the company’s stock valued at $25,922,000 after buying an additional 13,951 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of Boston Beer by 65.9% in the 3rd quarter. AQR Capital Management LLC now owns 115,411 shares of the company’s stock valued at $44,433,000 after purchasing an additional 45,864 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Boston Beer by 1.9% in the 3rd quarter. Northern Trust Corp now owns 70,324 shares of the company’s stock valued at $27,393,000 after purchasing an additional 1,315 shares in the last quarter. iA Global Asset Management Inc. acquired a new position in Boston Beer during the third quarter worth about $6,627,000. Finally, Schonfeld Strategic Advisors LLC purchased a new position in Boston Beer in the third quarter valued at about $1,149,000. 81.13% of the stock is owned by hedge funds and other institutional investors.

Boston Beer Stock Down 1.1 %

Shares of NYSE:SAM opened at $286.10 on Wednesday. The company has a market cap of $3.44 billion, a P/E ratio of 46.15, a P/E/G ratio of 1.17 and a beta of 1.02. The business has a fifty day simple moving average of $307.69 and a 200-day simple moving average of $334.76. The Boston Beer Company, Inc. has a 52 week low of $274.78 and a 52 week high of $395.52.

Boston Beer (NYSE:SAM) last issued its quarterly earnings results 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). Boston Beer had a return on equity of 8.13% and a net margin of 3.61%. The business had revenue of $393.72 million during the quarter, compared to analyst estimates of $413.57 million. During the same period in the previous year, the business posted ($0.93) earnings per share. The firm’s quarterly revenue was down 12.0% on a year-over-year basis. Sell-side analysts expect that The Boston Beer Company, Inc. will post 9.98 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Sanford C. Bernstein raised Boston Beer from an “underperform” rating to a “market perform” rating and boosted their price target for the stock from $280.00 to $335.00 in a research note on Tuesday, January 16th. Citigroup dropped their price target on Boston Beer from $350.00 to $315.00 and set a “neutral” rating for the company in a research report on Tuesday, April 16th. Royal Bank of Canada reissued a “sector perform” rating and issued a $337.00 price objective on shares of Boston Beer in a research note on Wednesday, February 28th. Piper Sandler began coverage on shares of Boston Beer in a research report on Friday, March 22nd. They set an “overweight” rating and a $350.00 target price for the company. Finally, Morgan Stanley dropped their price objective on shares of Boston Beer from $285.00 to $275.00 and set an “underweight” rating for the company in a research note on Wednesday, February 28th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Boston Beer presently has a consensus rating of “Hold” and an average price target of $334.86.

Insider Activity at Boston Beer

In other Boston Beer news, insider Carolyn L. O’boyle sold 101 shares of Boston Beer 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 transaction, the insider now owns 7,029 shares in the company, valued at approximately $2,133,231.21. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, insider Carolyn L. O’boyle sold 101 shares of Boston Beer stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $303.49, for a total value of $30,652.49. Following the transaction, the insider now directly owns 7,029 shares of the company’s stock, 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. Also, insider Carolyn L. O’boyle sold 102 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 2,630 shares of the company’s stock, valued at approximately $922,393.60. The disclosure for this sale can be found here. 24.00% of the stock is owned by insiders.

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.