Bank of America Corp DE Lowers Holdings in The Boston Beer Company, Inc. (NYSE:SAM)

Bank of America Corp DE trimmed its position in The Boston Beer Company, Inc. (NYSE:SAM) by 70.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,857 shares of the company’s stock after selling 23,224 shares during the quarter. Bank of America Corp DE owned 0.09% of Boston Beer worth $2,957,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Entropy Technologies LP purchased a new stake in shares of Boston Beer in the 4th quarter worth $368,000. Legato Capital Management LLC purchased a new stake in shares of Boston Beer in the 4th quarter worth $1,966,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Boston Beer by 5.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 94,356 shares of the company’s stock worth $28,305,000 after purchasing an additional 4,675 shares during the last quarter. Norges Bank purchased a new stake in shares of Boston Beer during the 4th quarter worth $30,741,000. Finally, Alberta Investment Management Corp lifted its stake in shares of Boston Beer by 67.2% during the 4th quarter. Alberta Investment Management Corp now owns 11,540 shares of the company’s stock worth $3,462,000 after purchasing an additional 4,640 shares during the last quarter. 81.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on SAM. Cfra Research upgraded Boston Beer from a “moderate sell” rating to a “moderate buy” rating in a research note on Thursday, April 24th. Morgan Stanley decreased their price objective on Boston Beer from $290.00 to $270.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 26th. Berenberg Bank began 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. UBS Group upped their price objective on Boston Beer from $265.00 to $279.00 and gave the stock a “neutral” rating in a research note on Thursday, April 17th. Finally, Wall Street Zen upgraded Boston Beer from a “hold” rating to a “buy” rating in a research note on Friday, April 25th. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Boston Beer has an average rating of “Hold” and an average target price of $286.12.

Boston Beer Price Performance

Shares of NYSE:SAM opened at $229.30 on Friday. The business’s 50-day moving average is $240.30 and its 200 day moving average is $258.91. The Boston Beer Company, Inc. has a 1 year low of $215.10 and a 1 year high of $329.55. The firm has a market capitalization of $2.56 billion, a P/E ratio of 33.72, a P/E/G ratio of 1.23 and a beta of 1.14.

Boston Beer (NYSE:SAM) last announced its quarterly earnings data on Thursday, April 24th. The company reported $2.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $1.38. Boston Beer had a return on equity of 11.76% and a net margin of 3.82%. The firm had revenue of $481.36 million during the quarter, compared to analysts’ expectations of $436.27 million. During the same period last year, the business posted $1.04 earnings per share. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. On average, analysts expect that The Boston Beer Company, Inc. will post 9.29 EPS for the current year.

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.