American Century Companies Inc. Sells 6,579 Shares of The Boston Beer Company, Inc. (NYSE:SAM)

American Century Companies Inc. lessened its stake in shares of The Boston Beer Company, Inc. (NYSE:SAM) by 13.8% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 41,078 shares of the company’s stock after selling 6,579 shares during the period. American Century Companies Inc.’s holdings in Boston Beer were worth $12,531,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. AdvisorShares Investments LLC bought a new position in Boston Beer during the second quarter valued at approximately $272,000. Studio Investment Management LLC boosted its position in shares of Boston Beer by 132.6% during the 2nd quarter. Studio Investment Management LLC now owns 307 shares of the company’s stock valued at $94,000 after acquiring an additional 175 shares during the last quarter. Sachetta LLC boosted its position in shares of Boston Beer by 1,533.3% during the 2nd quarter. Sachetta LLC now owns 245 shares of the company’s stock valued at $68,000 after acquiring an additional 230 shares during the last quarter. Texas Permanent School Fund Corp grew its holdings in shares of Boston Beer by 18.7% in the second quarter. Texas Permanent School Fund Corp now owns 9,776 shares of the company’s stock valued at $2,982,000 after purchasing an additional 1,539 shares in the last quarter. Finally, Oak Thistle LLC bought a new stake in Boston Beer in the second quarter worth $421,000. Hedge funds and other institutional investors own 81.13% of the company’s stock.

Boston Beer Price Performance

Boston Beer stock opened at $269.60 on Friday. The stock has a market capitalization of $3.22 billion, a PE ratio of 33.83, a price-to-earnings-growth ratio of 1.11 and a beta of 1.05. The business has a 50 day simple moving average of $276.15 and a 200-day simple moving average of $284.85. The Boston Beer Company, Inc. has a 12 month low of $254.40 and a 12 month high of $395.52.

Boston Beer (NYSE:SAM) last posted its quarterly earnings results on Thursday, July 25th. The company reported $4.39 earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $597.33 million. During the same quarter in the previous year, the firm posted $4.72 earnings per share. The business’s revenue was down 4.0% compared to the same quarter last year. On average, equities research analysts anticipate that The Boston Beer Company, Inc. will post 9.65 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

SAM has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Boston Beer from $273.00 to $283.00 and gave the stock a “hold” rating in a research note on Wednesday, July 17th. Royal Bank of Canada reduced their price objective on Boston Beer from $332.00 to $318.00 and set a “sector perform” rating on the stock in a research note on Friday, July 26th. Piper Sandler lowered their price objective on Boston Beer from $344.00 to $325.00 and set an “overweight” rating for the company in a research note on Friday, July 26th. Roth Mkm dropped their target price on Boston Beer from $395.00 to $389.00 and set a “buy” rating for the company in a report on Friday, July 26th. Finally, Morgan Stanley upgraded Boston Beer from an “underweight” rating to an “equal weight” rating and set a $290.00 price target on the stock in a report on Wednesday, June 5th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $326.92.

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.