Wells Fargo & Company MN Sells 73 Shares of The Boston Beer Company, Inc. (NYSE:SAM)

Wells Fargo & Company MN reduced its stake in The Boston Beer Company, Inc. (NYSE:SAM) by 1.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,336 shares of the company’s stock after selling 73 shares during the period. Wells Fargo & Company MN owned approximately 0.06% of Boston Beer worth $2,201,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of the stock. Blue Trust Inc. raised its position in Boston Beer by 405.6% in the 4th quarter. Blue Trust Inc. now owns 91 shares of the company’s stock valued at $26,000 after purchasing an additional 73 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Boston Beer by 2,225.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 93 shares of the company’s stock worth $28,000 after acquiring an additional 89 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Boston Beer by 59.3% during the fourth quarter. GAMMA Investing LLC now owns 129 shares of the company’s stock valued at $39,000 after purchasing an additional 48 shares during the last quarter. First Horizon Advisors Inc. raised its position in Boston Beer by 42.1% in the 4th quarter. First Horizon Advisors Inc. now owns 172 shares of the company’s stock worth $52,000 after purchasing an additional 51 shares during the last quarter. Finally, US Bancorp DE lifted its holdings in Boston Beer by 67.9% during the 4th quarter. US Bancorp DE now owns 272 shares of the company’s stock worth $82,000 after buying an additional 110 shares in the last quarter. Institutional investors and hedge funds own 81.13% of the company’s stock.

Boston Beer Stock Up 2.9 %

Shares of NYSE:SAM opened at $249.45 on Friday. The firm has a market cap of $2.80 billion, a price-to-earnings ratio of 36.68, a PEG ratio of 1.23 and a beta of 1.26. The Boston Beer Company, Inc. has a 12 month low of $215.10 and a 12 month high of $339.77. The company’s fifty day simple moving average is $236.77 and its 200 day simple moving average is $268.87.

Boston Beer (NYSE:SAM) last issued its quarterly earnings results on Thursday, April 24th. The company reported $2.16 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $1.38. The company had revenue of $481.36 million for the quarter, compared to analyst estimates of $436.27 million. Boston Beer had a return on equity of 11.76% and a net margin of 3.82%. Research analysts expect that The Boston Beer Company, Inc. will post 9.29 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SAM. Needham & Company LLC reaffirmed a “hold” rating on shares of Boston Beer in a research note on Friday. StockNews.com upgraded shares of Boston Beer from a “hold” rating to a “buy” rating in a research report on Friday. Roth Mkm restated a “buy” rating and issued a $349.00 price objective (down from $389.00) on shares of Boston Beer in a report on Wednesday, February 26th. Piper Sandler lowered their target price on shares of Boston Beer from $240.00 to $230.00 and set a “neutral” rating for the company in a report on Thursday, April 17th. Finally, Berenberg Bank initiated coverage on Boston Beer in a research note on Wednesday, April 2nd. They set a “hold” rating and a $281.10 price objective for the company. Nine analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $290.01.

Boston Beer 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.