Bokf Na Reduces Holdings in The Boston Beer Company, Inc. (NYSE:SAM)

Bokf Na reduced its holdings in shares of The Boston Beer Company, Inc. (NYSE:SAM) by 30.9% in the second quarter, Holdings Channel reports. The institutional investor owned 6,064 shares of the company’s stock after selling 2,710 shares during the period. Bokf Na’s holdings in Boston Beer were worth $1,850,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in Boston Beer by 2.3% in the 4th quarter. Vanguard Group Inc. now owns 918,502 shares of the company’s stock worth $317,425,000 after purchasing 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 fourth quarter. Dimensional Fund Advisors LP now owns 142,014 shares of the company’s stock worth $49,080,000 after buying an additional 7,615 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Boston Beer by 8.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 133,486 shares of the company’s stock valued at $40,720,000 after buying an additional 9,997 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Boston Beer by 3.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 107,312 shares of the company’s stock valued at $37,086,000 after acquiring an additional 3,382 shares during the period. Finally, Armistice Capital LLC purchased a new stake in Boston Beer in the 4th quarter worth approximately $21,499,000. 81.13% of the stock is currently owned by institutional investors.

Boston Beer Price Performance

NYSE SAM opened at $269.34 on Friday. The stock has a market capitalization of $3.16 billion, a PE ratio of 33.79, a P/E/G ratio of 1.09 and a beta of 1.05. The Boston Beer Company, Inc. has a 1-year low of $254.40 and a 1-year high of $395.52. The business has a 50 day simple moving average of $277.66 and a two-hundred day simple moving average of $285.92.

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

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Piper Sandler lowered their price target on shares of Boston Beer from $344.00 to $325.00 and set an “overweight” rating on the stock in a report on Friday, July 26th. Roth Mkm dropped their target price on shares of Boston Beer from $395.00 to $389.00 and set a “buy” rating for the company in a report on Friday, July 26th. Royal Bank of Canada decreased their price target on Boston Beer from $332.00 to $318.00 and set a “sector perform” rating on the stock in a report on Friday, July 26th. Deutsche Bank Aktiengesellschaft upped their price objective on Boston Beer from $273.00 to $283.00 and gave the stock a “hold” rating in a research note on Wednesday, July 17th. Finally, Morgan Stanley raised 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. One research analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $326.92.

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.