The Boston Beer Company, Inc. (NYSE:SAM) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its position in shares of The Boston Beer Company, Inc. (NYSE:SAM) by 39.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 71,732 shares of the company’s stock after selling 47,335 shares during the period. Bank of New York Mellon Corp owned approximately 0.64% of Boston Beer worth $17,133,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Boston Beer in the 4th quarter worth about $30,741,000. J. Goldman & Co LP lifted its position in shares of Boston Beer by 251.8% in the 4th quarter. J. Goldman & Co LP now owns 119,687 shares of the company’s stock worth $35,904,000 after buying an additional 85,669 shares during the last quarter. Cooper Creek Partners Management LLC bought a new stake in Boston Beer in the 4th quarter valued at about $25,054,000. Freestone Grove Partners LP bought a new stake in Boston Beer in the 4th quarter valued at about $21,412,000. Finally, AQR Capital Management LLC lifted its position in Boston Beer by 19.8% in the 4th quarter. AQR Capital Management LLC now owns 422,217 shares of the company’s stock valued at $125,821,000 after purchasing an additional 69,778 shares during the last quarter. 81.13% of the stock is owned by institutional investors and hedge funds.

Boston Beer Stock Down 1.4%

SAM stock opened at $191.95 on Friday. The company has a market cap of $2.14 billion, a PE ratio of 31.83, a price-to-earnings-growth ratio of 1.43 and a beta of 0.99. The business has a 50-day simple moving average of $213.45 and a 200 day simple moving average of $233.34. The Boston Beer Company, Inc. has a 52 week low of $185.34 and a 52 week high of $329.55.

Boston Beer (NYSE:SAM) last issued its earnings results on Thursday, April 24th. The company reported $2.16 EPS for the quarter, topping the consensus estimate of $0.78 by $1.38. The firm had revenue of $481.36 million during the quarter, compared to the consensus estimate of $436.27 million. Boston Beer had a return on equity of 13.81% and a net margin of 3.30%. The business’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.04 earnings per share. On average, analysts anticipate that The Boston Beer Company, Inc. will post 9.29 EPS for the current fiscal year.

Analyst Ratings Changes

SAM has been the topic of several research analyst reports. Wall Street Zen cut shares of Boston Beer from a “buy” rating to a “hold” rating in a research note on Friday, June 27th. Citigroup lowered their target price on shares of Boston Beer from $285.00 to $230.00 and set a “buy” rating on the stock in a research note on Tuesday. Sanford C. Bernstein lowered their target price on shares of Boston Beer from $270.00 to $230.00 and set a “market perform” rating on the stock in a research note on Wednesday, July 9th. UBS Group lowered their price objective on shares of Boston Beer from $275.00 to $214.00 and set a “neutral” rating on the stock in a research note on Thursday. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Boston Beer in a research note on Friday, April 25th. One analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $261.10.

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.