Dupont Capital Management Corp cut its position in Boston Beer Company Inc (NYSE:SAM) by 9.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,141 shares of the company’s stock after selling 122 shares during the period. Dupont Capital Management Corp’s holdings in Boston Beer were worth $612,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in SAM. Marshall Wace North America L.P. acquired a new position in shares of Boston Beer in the first quarter valued at about $59,000. NEXT Financial Group Inc increased its holdings in shares of Boston Beer by 14.8% in the first quarter. NEXT Financial Group Inc now owns 217 shares of the company’s stock valued at $80,000 after purchasing an additional 28 shares during the period. Sandy Spring Bank increased its holdings in shares of Boston Beer by 681.8% in the first quarter. Sandy Spring Bank now owns 258 shares of the company’s stock valued at $95,000 after purchasing an additional 225 shares during the period. Ladenburg Thalmann Financial Services Inc. increased its holdings in shares of Boston Beer by 149.0% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,190 shares of the company’s stock valued at $170,000 after purchasing an additional 712 shares during the period. Finally, Aubrey Capital Management Ltd acquired a new position in shares of Boston Beer in the first quarter valued at about $186,000. 72.33% of the stock is currently owned by institutional investors and hedge funds.
SAM has been the topic of a number of research reports. MKM Partners lowered Boston Beer from a “buy” rating to a “neutral” rating and increased their price objective for the company from $351.00 to $371.00 in a report on Thursday, April 16th. Royal Bank of Canada reaffirmed a “buy” rating and set a $635.00 target price on shares of Boston Beer in a report on Monday, July 20th. Credit Suisse Group raised their target price on Boston Beer from $505.00 to $625.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. Deutsche Bank raised their target price on Boston Beer from $540.00 to $656.00 and gave the stock a “hold” rating in a report on Friday, July 24th. Finally, Jefferies Financial Group reaffirmed an “underperform” rating on shares of Boston Beer in a report on Friday, July 24th. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $535.43.
In other news, Director Cynthia A. Fisher sold 240 shares of the firm’s stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $570.00, for a total value of $136,800.00. Following the transaction, the director now owns 400 shares in the company, valued at $228,000. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Samuel A. Calagione III sold 18,754 shares of the firm’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $799.02, for a total value of $14,984,821.08. Following the completion of the transaction, the insider now owns 6,141 shares in the company, valued at approximately $4,906,781.82. The disclosure for this sale can be found here. In the last 90 days, insiders sold 62,934 shares of company stock worth $38,273,965. Company insiders own 29.10% of the company’s stock.
Shares of SAM stock opened at $810.44 on Friday. The company has a market capitalization of $9.73 billion, a P/E ratio of 72.75 and a beta of 0.82. The business’s 50 day moving average is $609.22 and its two-hundred day moving average is $464.10. Boston Beer Company Inc has a 12-month low of $290.02 and a 12-month high of $845.70.
Boston Beer (NYSE:SAM) last issued its quarterly earnings results on Thursday, July 23rd. The company reported $4.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.20 by $2.68. The company had revenue of $452.14 million for the quarter, compared to the consensus estimate of $418.75 million. Boston Beer had a return on equity of 17.51% and a net margin of 9.18%. Equities research analysts anticipate that Boston Beer Company Inc will post 12.45 EPS for the current year.
About Boston Beer
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, and hard seltzers under the Samuel Adams, Twisted Tea, Angry Orchard Hard Cider, and Truly Hard Seltzer brand names.
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