Wealth Enhancement Advisory Services LLC Raises Position in The Boston Beer Company, Inc. (NYSE:SAM)

Wealth Enhancement Advisory Services LLC lifted its stake in shares of The Boston Beer Company, Inc. (NYSE:SAM) by 24.1% during the second quarter, Holdings Channel reports. The fund owned 1,168 shares of the company’s stock after acquiring an additional 227 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Boston Beer were worth $356,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Armistice Capital LLC acquired a new position in Boston Beer during the 4th quarter worth $21,499,000. Norges Bank purchased a new stake in shares of Boston Beer during the fourth quarter worth approximately $13,879,000. Jane Street Group LLC raised its holdings in Boston Beer by 171.8% in the first quarter. Jane Street Group LLC now owns 15,876 shares of the company’s stock valued at $4,833,000 after acquiring an additional 37,985 shares in the last quarter. Vanguard Group Inc. grew its holdings in Boston Beer by 2.3% during the 4th quarter. Vanguard Group Inc. now owns 918,502 shares of the company’s stock worth $317,425,000 after acquiring an additional 21,060 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in shares of Boston Beer in the 4th quarter valued at approximately $64,490,000. 81.13% of the stock is currently owned by institutional investors and hedge funds.

Boston Beer Stock Up 2.5 %

Shares of Boston Beer stock opened at $281.86 on Friday. The firm has a market cap of $3.37 billion, a price-to-earnings ratio of 35.37, a price-to-earnings-growth ratio of 1.15 and a beta of 1.03. The Boston Beer Company, Inc. has a 52-week low of $254.40 and a 52-week high of $395.52. The company’s 50-day simple moving average is $284.71 and its 200-day simple moving average is $294.64.

Boston Beer (NYSE:SAM) last posted its quarterly earnings results on Thursday, July 25th. The company reported $4.39 EPS for the quarter, missing the consensus estimate of $4.99 by ($0.60). The business had revenue of $579.10 million during the quarter, compared to analyst estimates of $597.33 million. Boston Beer had a net margin of 4.39% and a return on equity of 9.69%. The firm’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same period in the prior year, the business earned $4.72 earnings per share. Equities research analysts anticipate that The Boston Beer Company, Inc. will post 9.65 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently commented on SAM shares. Roth Mkm lowered their target price on shares of Boston Beer from $395.00 to $389.00 and set a “buy” rating for the company in a research note on Friday, July 26th. StockNews.com downgraded Boston Beer from a “buy” rating to a “hold” rating in a report on Wednesday, June 12th. Jefferies Financial Group upgraded shares of Boston Beer from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $335.00 to $360.00 in a research report on Tuesday, May 14th. Piper Sandler cut their price target on shares of Boston Beer from $344.00 to $325.00 and set an “overweight” rating on the stock in a research note on Friday, July 26th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Boston Beer from $273.00 to $283.00 and gave the stock a “hold” rating in a report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Boston Beer has a consensus rating of “Hold” and an average target price of $326.92.

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.