The Boston Beer Company, Inc. (NYSE:SAM) Position Increased by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board grew its holdings in shares of The Boston Beer Company, Inc. (NYSE:SAM) by 8.3% during the second quarter, Holdings Channel reports. The firm owned 48,300 shares of the company’s stock after acquiring an additional 3,700 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Boston Beer were worth $14,734,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Intech Investment Management LLC bought a new position in Boston Beer in the second quarter worth about $833,000. XTX Topco Ltd lifted its holdings in shares of Boston Beer by 72.4% in the 2nd quarter. XTX Topco Ltd now owns 3,967 shares of the company’s stock worth $1,210,000 after purchasing an additional 1,666 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new position in Boston Beer during the 2nd quarter valued at approximately $1,059,000. Edgestream Partners L.P. bought a new position in Boston Beer during the 2nd quarter worth $301,000. Finally, Dimensional Fund Advisors LP increased its position in Boston Beer by 17.0% in the second quarter. Dimensional Fund Advisors LP now owns 182,972 shares of the company’s stock worth $55,814,000 after buying an additional 26,538 shares during the period. 81.13% of the stock is currently owned by institutional investors.

Boston Beer Stock Up 1.9 %

Shares of Boston Beer stock opened at $274.65 on Tuesday. The business has a fifty day simple moving average of $275.94 and a 200-day simple moving average of $284.60. The Boston Beer Company, Inc. has a fifty-two week low of $254.40 and a fifty-two week high of $395.52. The firm has a market cap of $3.28 billion, a price-to-earnings ratio of 34.46, a price-to-earnings-growth ratio of 1.11 and a beta of 1.05.

Boston Beer (NYSE:SAM) last posted 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 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 analyst estimates of $597.33 million. During the same quarter last year, the firm posted $4.72 EPS. The company’s quarterly revenue was down 4.0% compared to the same quarter last year. Analysts anticipate that The Boston Beer Company, Inc. will post 9.65 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

SAM has been the subject of several recent research reports. Roth Mkm lowered their price target on shares of Boston Beer from $395.00 to $389.00 and set a “buy” rating for the company in a research report on Friday, July 26th. Royal Bank of Canada cut 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. StockNews.com lowered Boston Beer from a “buy” rating to a “hold” rating in a report on Wednesday, June 12th. 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. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Boston Beer from $273.00 to $283.00 and gave the stock a “hold” rating in a research note on Wednesday, July 17th. 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 stock. According to data from MarketBeat, the company currently 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.