The Boston Beer Company, Inc. (NYSE:SAM) Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC cut its position in shares of The Boston Beer Company, Inc. (NYSE:SAM) by 3.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,971 shares of the company’s stock after selling 238 shares during the quarter. Wedge Capital Management L L P NC owned 0.06% of Boston Beer worth $2,016,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Teachers Retirement System of The State of Kentucky boosted its position in Boston Beer by 4.1% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 6,894 shares of the company’s stock valued at $2,382,000 after purchasing an additional 271 shares during the period. Vanguard Group Inc. boosted 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 valued at $317,425,000 after acquiring an additional 21,060 shares during the period. NBC Securities Inc. boosted its holdings in shares of Boston Beer by 33.4% during the first quarter. NBC Securities Inc. now owns 2,214 shares of the company’s stock valued at $673,000 after acquiring an additional 554 shares during the period. Partnership Wealth Management LLC grew its position in shares of Boston Beer by 40.0% during the first quarter. Partnership Wealth Management LLC now owns 1,379 shares of the company’s stock worth $420,000 after acquiring an additional 394 shares during the last quarter. Finally, Cardinal Capital Management increased its holdings in shares of Boston Beer by 45.5% in the 1st quarter. Cardinal Capital Management now owns 4,051 shares of the company’s stock worth $1,233,000 after acquiring an additional 1,267 shares during the period. 81.13% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on SAM. Royal Bank of Canada decreased 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 report on Friday, July 26th. Roth Mkm decreased their price objective on Boston Beer from $395.00 to $389.00 and set a “buy” rating for the company in a report on Friday, July 26th. Piper Sandler cut their target price on Boston Beer from $344.00 to $325.00 and set an “overweight” rating on the stock in a research note on Friday, July 26th. 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 investment analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $326.92.

Boston Beer Trading Up 3.7 %

Shares of Boston Beer stock opened at $287.52 on Thursday. The Boston Beer Company, Inc. has a 52 week low of $254.40 and a 52 week high of $378.08. The company’s 50-day moving average price is $276.39 and its two-hundred day moving average price is $282.19. The stock has a market cap of $3.44 billion, a PE ratio of 36.08, a price-to-earnings-growth ratio of 1.13 and a beta of 1.06.

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

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.