Renaissance Technologies LLC Trims Holdings in The Boston Beer Company, Inc. (NYSE:SAM)

Renaissance Technologies LLC lowered its stake in shares of The Boston Beer Company, Inc. (NYSE:SAM) by 47.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 45,200 shares of the company’s stock after selling 40,300 shares during the period. Renaissance Technologies LLC’s holdings in Boston Beer were worth $13,788,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP increased its position in Boston Beer by 17.0% during the second quarter. Dimensional Fund Advisors LP now owns 182,972 shares of the company’s stock worth $55,814,000 after purchasing an additional 26,538 shares during the last quarter. Oppenheimer Asset Management Inc. increased its holdings in shares of Boston Beer by 18.7% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 4,933 shares of the company’s stock worth $1,505,000 after buying an additional 778 shares during the last quarter. Thoroughbred Financial Services LLC purchased a new stake in shares of Boston Beer during the 2nd quarter valued at approximately $228,000. DekaBank Deutsche Girozentrale raised its position in shares of Boston Beer by 61.3% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 250 shares of the company’s stock valued at $75,000 after buying an additional 95 shares during the period. Finally, Cornercap Investment Counsel Inc. grew its position in Boston Beer by 213.9% in the second quarter. Cornercap Investment Counsel Inc. now owns 3,895 shares of the company’s stock worth $1,188,000 after acquiring an additional 2,654 shares during the period. 81.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on SAM shares. Roth Mkm reduced their target price on Boston Beer from $395.00 to $389.00 and set a “buy” rating on the stock in a research report on Friday, July 26th. StockNews.com lowered shares of Boston Beer from a “buy” rating to a “hold” rating in a report on Wednesday, June 12th. Royal Bank of Canada lowered their target price on shares of Boston Beer from $332.00 to $318.00 and set a “sector perform” rating for the company in a research note on Friday, July 26th. Morgan Stanley raised shares of Boston Beer from an “underweight” rating to an “equal weight” rating and set a $290.00 price target on the stock in a research note on Wednesday, June 5th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Boston Beer from $273.00 to $283.00 and gave the stock a “hold” rating in a research report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $326.92.

Boston Beer Stock Down 2.1 %

Shares of Boston Beer stock opened at $269.60 on Monday. The Boston Beer Company, Inc. has a 52-week low of $254.40 and a 52-week high of $395.52. The company has a market capitalization of $3.22 billion, a P/E ratio of 33.83, a P/E/G ratio of 1.11 and a beta of 1.05. The company has a 50 day moving average of $276.15 and a 200 day moving average of $284.77.

Boston Beer (NYSE:SAM) last released its quarterly earnings data 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). The firm had revenue of $579.10 million for the quarter, compared to analysts’ expectations of $597.33 million. Boston Beer had a return on equity of 9.69% and a net margin of 4.39%. Boston Beer’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same period last year, the firm posted $4.72 earnings per share. As a group, research analysts anticipate that The Boston Beer Company, Inc. will post 9.65 earnings per share for the current fiscal 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.