CNB Bank Has $45,000 Stake in The Boston Beer Company, Inc. (NYSE:SAM)

CNB Bank reduced its stake in shares of The Boston Beer Company, Inc. (NYSE:SAM) by 47.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 155 shares of the company’s stock after selling 138 shares during the quarter. CNB Bank’s holdings in Boston Beer were worth $45,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its position in Boston Beer by 2.3% in the 4th quarter. Vanguard Group Inc. now owns 918,502 shares of the company’s stock valued at $317,425,000 after buying an additional 21,060 shares during the last quarter. Cardinal Capital Management boosted its holdings in Boston Beer by 45.5% in the first quarter. Cardinal Capital Management now owns 4,051 shares of the company’s stock valued at $1,233,000 after acquiring an additional 1,267 shares during the last quarter. Foguth Wealth Management LLC. acquired a new stake in Boston Beer in the first quarter worth about $243,000. Principal Financial Group Inc. raised its holdings in Boston Beer by 1.8% during the 1st quarter. Principal Financial Group Inc. now owns 35,580 shares of the company’s stock worth $10,831,000 after purchasing an additional 645 shares during the last quarter. Finally, Summit Place Financial Advisors LLC lifted its position in Boston Beer by 74.0% during the 1st quarter. Summit Place Financial Advisors LLC now owns 2,751 shares of the company’s stock valued at $837,000 after purchasing an additional 1,170 shares during the period. Institutional investors and hedge funds own 81.13% of the company’s stock.

Boston Beer Price Performance

NYSE SAM opened at $298.81 on Monday. The stock’s 50-day moving average is $277.42 and its 200-day moving average is $282.14. The Boston Beer Company, Inc. has a one year low of $254.40 and a one year high of $378.08. The firm has a market cap of $3.57 billion, a P/E ratio of 37.49, a P/E/G ratio of 1.12 and a beta of 1.06.

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 analysts’ consensus estimates of $4.99 by ($0.60). Boston Beer had a net margin of 4.39% and a return on equity of 9.69%. The company had revenue of $579.10 million during the quarter, compared to the consensus estimate of $597.33 million. During the same period in the previous year, the firm posted $4.72 EPS. The business’s quarterly revenue was down 4.0% compared to the same quarter last year. Equities analysts anticipate that The Boston Beer Company, Inc. will post 9.65 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently commented on SAM. 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. Piper Sandler lowered their target price on shares of Boston Beer from $344.00 to $325.00 and set an “overweight” rating for the company in a report on Friday, July 26th. Deutsche Bank Aktiengesellschaft increased their price target on Boston Beer from $273.00 to $283.00 and gave the company a “hold” rating in a research note on Wednesday, July 17th. Finally, Royal Bank of Canada decreased their price objective on 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. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price 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.