QV Investors Inc. Sells 1,020 Shares of The Boston Beer Company, Inc. (NYSE:SAM)

QV Investors Inc. decreased its position in The Boston Beer Company, Inc. (NYSE:SAM) by 4.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 21,060 shares of the company’s stock after selling 1,020 shares during the period. QV Investors Inc. owned approximately 0.17% of Boston Beer worth $7,278,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Southeastern Asset Management Inc. TN acquired a new position in shares of Boston Beer during the 1st quarter worth about $35,680,000. Loomis Sayles & Co. L P bought a new position in Boston Beer in the 1st quarter valued at about $38,859,000. Millennium Management LLC bought a new position in Boston Beer in the second quarter valued at approximately $18,690,000. Wellington Management Group LLP raised its holdings in shares of Boston Beer by 119.6% during the 1st quarter. Wellington Management Group LLP now owns 92,524 shares of the company’s stock worth $35,943,000 after buying an additional 50,384 shares in the last quarter. Finally, Federated Hermes Inc. raised its stake in Boston Beer by 3,954.5% during the first quarter. Federated Hermes Inc. now owns 51,168 shares of the company’s stock worth $19,877,000 after acquiring an additional 49,906 shares in the last quarter. Institutional investors and hedge funds own 81.13% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on SAM. Royal Bank of Canada reiterated a “sector perform” rating and issued a $337.00 target price on shares of Boston Beer in a research report on Wednesday, February 28th. Citigroup cut their price objective on shares of Boston Beer from $370.00 to $350.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 28th. Morgan Stanley decreased their target price on Boston Beer from $285.00 to $275.00 and set an “underweight” rating for the company in a research report on Wednesday, February 28th. Roth Mkm increased their price objective on Boston Beer from $406.00 to $422.00 and gave the stock a “buy” rating in a report on Tuesday, January 23rd. Finally, UBS Group dropped their price objective on Boston Beer from $390.00 to $355.00 and set a “neutral” rating for the company in a research note on Wednesday, February 28th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $344.08.

Insider Buying and Selling

In related news, insider Carolyn L. O’boyle sold 101 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $303.49, for a total transaction of $30,652.49. Following the sale, the insider now owns 7,029 shares of the company’s stock, valued at $2,133,231.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Carolyn L. O’boyle sold 102 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $350.72, for a total transaction of $35,773.44. Following the sale, the insider now owns 2,630 shares in the company, valued at $922,393.60. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Carolyn L. O’boyle sold 101 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $303.49, for a total transaction of $30,652.49. Following the sale, the insider now directly owns 7,029 shares of the company’s stock, valued at approximately $2,133,231.21. The disclosure for this sale can be found here. 23.30% of the stock is owned by insiders.

Boston Beer Stock Performance

Shares of Boston Beer stock opened at $294.75 on Friday. The stock has a market capitalization of $3.54 billion, a price-to-earnings ratio of 47.54, a P/E/G ratio of 1.06 and a beta of 1.02. The company’s 50 day moving average price is $324.12 and its 200-day moving average price is $342.69. The Boston Beer Company, Inc. has a 52-week low of $287.33 and a 52-week high of $395.52.

Boston Beer (NYSE:SAM) last released its quarterly earnings data on Tuesday, February 27th. The company reported ($1.49) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($1.27). The business had revenue of $393.72 million during the quarter, compared to analysts’ expectations of $413.57 million. Boston Beer had a return on equity of 8.13% and a net margin of 3.61%. The company’s quarterly revenue was down 12.0% compared to the same quarter last year. During the same quarter last year, the business posted ($0.93) EPS. As a group, equities research analysts forecast that The Boston Beer Company, Inc. will post 9.98 earnings per share 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.