The Boston Beer Company, Inc. (NYSE:SAM) Shares Sold by Xponance Inc.

Xponance Inc. reduced its stake in The Boston Beer Company, Inc. (NYSE:SAM) by 39.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,153 shares of the company’s stock after selling 763 shares during the period. Xponance Inc.’s holdings in Boston Beer were worth $352,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. LRI Investments LLC acquired a new position in shares of Boston Beer during the first quarter worth approximately $28,000. Quarry LP acquired a new position in shares of Boston Beer during the fourth quarter worth approximately $42,000. ORG Partners LLC acquired a new position in shares of Boston Beer during the second quarter worth approximately $48,000. Sachetta LLC boosted its position in shares of Boston Beer by 1,533.3% during the second quarter. Sachetta LLC now owns 245 shares of the company’s stock worth $68,000 after buying an additional 230 shares during the period. Finally, DekaBank Deutsche Girozentrale boosted its position in shares of Boston Beer by 61.3% during the second quarter. DekaBank Deutsche Girozentrale now owns 250 shares of the company’s stock worth $75,000 after buying an additional 95 shares during the period. 81.13% of the stock is currently owned by institutional investors and hedge funds.

Boston Beer Stock Down 0.4 %

Shares of NYSE:SAM opened at $288.10 on Wednesday. The company’s fifty day moving average is $276.00 and its two-hundred day moving average is $283.90. The Boston Beer Company, Inc. has a 12-month low of $254.40 and a 12-month high of $395.52. The company has a market cap of $3.38 billion, a P/E ratio of 36.15, a price-to-earnings-growth ratio of 1.16 and a beta of 1.05.

Boston Beer (NYSE:SAM) last announced its earnings results on Thursday, July 25th. The company reported $4.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.99 by ($0.60). Boston Beer had a net margin of 4.39% and a return on equity of 9.69%. The firm had revenue of $579.10 million for the quarter, compared to analyst estimates of $597.33 million. During the same period last year, the firm earned $4.72 earnings per share. Boston Beer’s revenue for the quarter was down 4.0% compared to the same quarter last year. Equities research analysts anticipate that The Boston Beer Company, Inc. will post 9.65 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on SAM shares. Deutsche Bank Aktiengesellschaft boosted their price objective on Boston Beer from $273.00 to $283.00 and gave the stock a “hold” rating in a research report on Wednesday, July 17th. Piper Sandler cut their target price on Boston Beer from $344.00 to $325.00 and set an “overweight” rating for the company in a research report on Friday, July 26th. StockNews.com downgraded Boston Beer from a “buy” rating to a “hold” rating in a research report on Wednesday, June 12th. Roth Mkm cut their target price on Boston Beer from $395.00 to $389.00 and set a “buy” rating for the company in a research report on Friday, July 26th. Finally, Royal Bank of Canada cut their target price on Boston Beer from $332.00 to $318.00 and set a “sector perform” rating for the company in a research report on Friday, July 26th. One analyst has rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $326.92.

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.