Simmons Bank Sells 5,845 Shares of The Boston Beer Company, Inc. (NYSE:SAM)

Simmons Bank reduced its position in shares of The Boston Beer Company, Inc. (NYSE:SAM) by 84.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,037 shares of the company’s stock after selling 5,845 shares during the period. Simmons Bank’s holdings in Boston Beer were worth $358,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. AQR Capital Management LLC increased its stake in Boston Beer by 65.9% in the 3rd quarter. AQR Capital Management LLC now owns 115,411 shares of the company’s stock valued at $44,433,000 after buying an additional 45,864 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of Boston Beer by 1,337.9% during the third quarter. Assenagon Asset Management S.A. now owns 32,727 shares of the company’s stock valued at $12,748,000 after acquiring an additional 30,451 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in Boston Beer in the third quarter worth $10,275,000. International Assets Investment Management LLC bought a new position in Boston Beer in the 4th quarter valued at $64,490,000. Finally, iA Global Asset Management Inc. bought a new position in Boston Beer in the 3rd quarter valued at $6,627,000. 81.13% of the stock is owned by institutional investors.

Insider Transactions at Boston Beer

In other Boston Beer news, insider Carolyn L. O’boyle sold 101 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $303.49, for a total value of $30,652.49. Following the transaction, the insider now directly owns 7,029 shares in the company, valued at approximately $2,133,231.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 24.00% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. The Goldman Sachs Group cut their price target on shares of Boston Beer from $257.00 to $250.00 and set a “sell” rating on the stock in a report on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft upgraded shares of Boston Beer from a “sell” rating to a “hold” rating and set a $273.00 price target for the company in a research note on Wednesday. Morgan Stanley dropped their price objective on Boston Beer from $285.00 to $275.00 and set an “underweight” rating on the stock in a research note on Wednesday, February 28th. UBS Group decreased their target price on Boston Beer from $390.00 to $355.00 and set a “neutral” rating for the company in a research report on Wednesday, February 28th. Finally, Evercore ISI boosted their target price on Boston Beer from $310.00 to $325.00 and gave the company an “in-line” rating in a research note on Friday, April 26th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $335.00.

Boston Beer Price Performance

Shares of SAM traded up $7.82 during midday trading on Wednesday, hitting $281.11. 155,407 shares of the company traded hands, compared to its average volume of 151,439. The stock has a 50-day moving average of $292.83 and a 200-day moving average of $329.19. The Boston Beer Company, Inc. has a one year low of $264.63 and a one year high of $395.52. The firm has a market cap of $3.36 billion, a P/E ratio of 34.29, a PEG ratio of 1.04 and a beta of 1.03.

Boston Beer (NYSE:SAM) last posted its earnings results on Thursday, April 25th. The company reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.96. Boston Beer had a net margin of 4.60% and a return on equity of 10.11%. The business had revenue of $426.05 million for the quarter, compared to analyst estimates of $414.18 million. Sell-side analysts forecast that The Boston Beer Company, Inc. will post 10.26 EPS for the current fiscal 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, flavored malt beverages, and hard seltzers under the Samuel Adams, Twisted Tea, Truly, Angry Orchard, Dogfish Head, Angel City, and Coney Island brand names.