3,218 Shares in The Boston Beer Company, Inc. (NYSE:SAM) Bought by Savant Capital LLC

Savant Capital LLC bought a new stake in The Boston Beer Company, Inc. (NYSE:SAM) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,218 shares of the company’s stock, valued at approximately $982,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of Boston Beer by 2.3% during the fourth 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 during the period. Dimensional Fund Advisors LP raised its stake in shares of Boston Beer by 5.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 142,014 shares of the company’s stock valued at $49,080,000 after purchasing an additional 7,615 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Boston Beer by 8.1% in the second quarter. Bank of New York Mellon Corp now owns 133,486 shares of the company’s stock valued at $40,720,000 after purchasing an additional 9,997 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Boston Beer by 3.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 107,312 shares of the company’s stock worth $37,086,000 after buying an additional 3,382 shares during the period. Finally, Armistice Capital LLC bought a new position in shares of Boston Beer during the fourth quarter worth about $21,499,000. 81.13% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have commented on SAM. Morgan Stanley upgraded Boston Beer from an “underweight” rating to an “equal weight” rating and set a $290.00 target price on the stock in a research note on Wednesday, June 5th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Boston Beer from $273.00 to $283.00 and gave the stock a “hold” rating in a report on Wednesday, July 17th. StockNews.com lowered shares of Boston Beer from a “buy” rating to a “hold” rating in a research note on Wednesday, June 12th. 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 report on Friday, July 26th. Finally, Royal Bank of Canada decreased their price objective on Boston Beer from $332.00 to $318.00 and set a “sector perform” rating for the company in a report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $326.92.

Boston Beer Stock Down 1.5 %

SAM opened at $266.25 on Thursday. The Boston Beer Company, Inc. has a 12-month low of $254.40 and a 12-month high of $395.52. The business has a 50 day moving average of $278.71 and a 200-day moving average of $287.25. The stock has a market cap of $3.12 billion, a price-to-earnings ratio of 33.41, a PEG ratio of 1.16 and a beta of 1.06.

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