The Boston Beer Company, Inc. (NYSE:SAM) Shares Acquired by XTX Topco Ltd

XTX Topco Ltd increased its position in shares of The Boston Beer Company, Inc. (NYSE:SAM) by 72.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,967 shares of the company’s stock after purchasing an additional 1,666 shares during the period. XTX Topco Ltd’s holdings in Boston Beer were worth $1,210,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Boston Beer by 5.7% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 609 shares of the company’s stock valued at $210,000 after buying an additional 33 shares during the period. Treasurer of the State of North Carolina boosted its position in shares of Boston Beer by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 4,167 shares of the company’s stock valued at $1,440,000 after purchasing an additional 40 shares in the last quarter. Los Angeles Capital Management LLC grew its stake in shares of Boston Beer by 0.5% in the 2nd quarter. Los Angeles Capital Management LLC now owns 14,729 shares of the company’s stock worth $4,493,000 after purchasing an additional 74 shares during the last quarter. Gagnon Securities LLC lifted its stake in Boston Beer by 0.5% during the first quarter. Gagnon Securities LLC now owns 16,893 shares of the company’s stock valued at $5,143,000 after purchasing an additional 80 shares during the last quarter. Finally, Gilbert & Cook Inc. boosted its holdings in Boston Beer by 8.3% during the fourth quarter. Gilbert & Cook Inc. now owns 1,204 shares of the company’s stock worth $416,000 after buying an additional 92 shares in the last quarter. 81.13% of the stock is currently owned by institutional investors and hedge funds.

Boston Beer Stock Down 2.2 %

Boston Beer stock opened at $269.40 on Friday. The Boston Beer Company, Inc. has a 12 month low of $254.40 and a 12 month high of $395.52. The company’s fifty day simple moving average is $276.54 and its 200-day simple moving average is $285.14. The stock has a market cap of $3.22 billion, a P/E ratio of 33.80, a P/E/G ratio of 1.11 and a beta of 1.05.

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

Wall Street Analyst Weigh In

Several research firms have issued reports on SAM. Deutsche Bank Aktiengesellschaft upped their price target on Boston Beer from $273.00 to $283.00 and gave the company a “hold” rating in a report on Wednesday, July 17th. Roth Mkm reduced 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. Morgan Stanley raised 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. 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 report on Friday, July 26th. Finally, Piper Sandler cut their price target on shares of Boston Beer from $344.00 to $325.00 and set an “overweight” rating on the stock in a report on Friday, July 26th. One equities research 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. Based on data from MarketBeat.com, 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.