Geode Capital Management LLC Lowers Position in The Boston Beer Company, Inc. $SAM

Geode Capital Management LLC trimmed its stake in shares of The Boston Beer Company, Inc. (NYSE:SAM) by 5.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 142,756 shares of the company’s stock after selling 8,269 shares during the period. Geode Capital Management LLC owned 1.28% of Boston Beer worth $27,244,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. denkapparat Operations GmbH bought a new position in shares of Boston Beer during the 2nd quarter valued at about $250,000. Vise Technologies Inc. bought a new position in Boston Beer during the second quarter valued at approximately $208,000. Allworth Financial LP boosted its stake in Boston Beer by 24.7% during the second quarter. Allworth Financial LP now owns 565 shares of the company’s stock valued at $108,000 after buying an additional 112 shares during the last quarter. Acadian Asset Management LLC purchased a new position in Boston Beer during the 2nd quarter valued at approximately $12,795,000. Finally, Campbell & CO Investment Adviser LLC bought a new stake in Boston Beer in the 2nd quarter worth approximately $1,734,000. Hedge funds and other institutional investors own 81.13% of the company’s stock.

Insider Activity

In related news, Director Michael Spillane sold 3,120 shares of the firm’s stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $205.78, for a total transaction of $642,033.60. Following the completion of the sale, the director directly owned 10,877 shares of the company’s stock, valued at approximately $2,238,269.06. This trade represents a 22.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 26.10% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Weiss Ratings reiterated a “sell (d+)” rating on shares of Boston Beer in a research report on Wednesday, October 8th. Jefferies Financial Group lowered their price objective on shares of Boston Beer from $230.00 to $225.00 and set a “hold” rating for the company in a research report on Tuesday, September 30th. Piper Sandler reduced their target price on shares of Boston Beer from $230.00 to $220.00 and set a “neutral” rating on the stock in a report on Friday, November 21st. UBS Group upped their target price on shares of Boston Beer from $230.00 to $246.00 and gave the company a “neutral” rating in a research report on Friday, October 24th. Finally, Citigroup downgraded shares of Boston Beer from a “buy” rating to a “neutral” rating and lowered their price target for the company from $255.00 to $235.00 in a report on Monday, October 6th. One investment analyst has rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $249.74.

Boston Beer Trading Down 0.3%

Boston Beer stock opened at $194.80 on Friday. The Boston Beer Company, Inc. has a 12-month low of $185.34 and a 12-month high of $323.98. The firm has a 50-day moving average price of $210.94 and a 200-day moving average price of $213.60. The firm has a market capitalization of $2.08 billion, a PE ratio of 22.97, a price-to-earnings-growth ratio of 1.85 and a beta of 0.91.

Boston Beer (NYSE:SAM) last posted its quarterly earnings data on Thursday, October 23rd. The company reported $4.25 earnings per share for the quarter, topping analysts’ consensus estimates of $3.78 by $0.47. The company had revenue of $537.49 million for the quarter, compared to analyst estimates of $542.97 million. Boston Beer had a net margin of 4.38% and a return on equity of 12.29%. The firm’s revenue for the quarter was down 11.2% on a year-over-year basis. During the same period in the prior year, the company posted $2.86 EPS. Boston Beer has set its FY 2025 guidance at 7.800-9.800 EPS. As a group, sell-side analysts predict that The Boston Beer Company, Inc. will post 9.29 earnings per share for the current fiscal year.

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.