American International Group Inc. Reduces Position in The Boston Beer Company, Inc. (NYSE:SAM)

American International Group Inc. decreased its holdings in shares of The Boston Beer Company, Inc. (NYSE:SAM) by 4.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,788 shares of the company’s stock after selling 608 shares during the quarter. American International Group Inc. owned about 0.10% of Boston Beer worth $4,419,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of SAM. DekaBank Deutsche Girozentrale purchased a new stake in shares of Boston Beer in the third quarter valued at about $59,000. Envestnet Portfolio Solutions Inc. purchased a new stake in shares of Boston Beer in the third quarter valued at about $224,000. Envestnet Asset Management Inc. grew its holdings in shares of Boston Beer by 50.1% in the third quarter. Envestnet Asset Management Inc. now owns 16,229 shares of the company’s stock valued at $6,322,000 after purchasing an additional 5,418 shares during the period. Invesco Ltd. grew its holdings in shares of Boston Beer by 21.0% in the third quarter. Invesco Ltd. now owns 48,969 shares of the company’s stock valued at $19,075,000 after purchasing an additional 8,484 shares during the period. Finally, Northern Trust Corp grew its holdings in shares of Boston Beer by 1.9% in the third quarter. Northern Trust Corp now owns 70,324 shares of the company’s stock valued at $27,393,000 after purchasing an additional 1,315 shares during the period. Hedge funds and other institutional investors own 81.13% of the company’s stock.

Boston Beer Stock Performance

Shares of SAM opened at $297.24 on Friday. The stock has a market capitalization of $3.55 billion, a PE ratio of 37.29, a P/E/G ratio of 1.11 and a beta of 1.09. The Boston Beer Company, Inc. has a 1 year low of $254.40 and a 1 year high of $395.52. The company’s 50-day simple moving average is $282.92 and its 200-day simple moving average is $315.19.

Boston Beer (NYSE:SAM) last issued its quarterly earnings results on Thursday, April 25th. The company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.96. The business had revenue of $426.05 million for the quarter, compared to analysts’ expectations of $414.18 million. Boston Beer had a net margin of 4.60% and a return on equity of 10.11%. On average, sell-side analysts predict that The Boston Beer Company, Inc. will post 10.25 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Carolyn L. O’boyle sold 101 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $303.49, for a total transaction of $30,652.49. Following the sale, the insider now directly owns 7,029 shares in the company, valued at $2,133,231.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 23.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. The Goldman Sachs Group dropped their price objective on shares of Boston Beer from $257.00 to $250.00 and set a “sell” rating for the company in a report on Tuesday, April 9th. Piper Sandler assumed coverage on shares of Boston Beer in a research report on Friday, March 22nd. They issued an “overweight” rating and a $350.00 target price on the stock. Evercore ISI upped their target price on shares of Boston Beer from $310.00 to $325.00 and gave the company an “in-line” rating in a research report on Friday, April 26th. Morgan Stanley raised shares of Boston Beer from an “underweight” rating to an “equal weight” rating and set a $290.00 target price on the stock in a research report on Wednesday, June 5th. Finally, Citigroup decreased their target price on shares of Boston Beer from $350.00 to $315.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 16th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $335.00.

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.