Bank of New York Mellon Corp Sells 147,910 Shares of Boston Beer Company Inc (NYSE:SAM)

Bank of New York Mellon Corp trimmed its position in Boston Beer Company Inc (NYSE:SAM) by 33.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 288,113 shares of the company’s stock after selling 147,910 shares during the period. Bank of New York Mellon Corp owned about 2.45% of Boston Beer worth $86,347,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Principal Financial Group Inc. lifted its holdings in Boston Beer by 3.9% during the 1st quarter. Principal Financial Group Inc. now owns 38,762 shares of the company’s stock worth $7,328,000 after buying an additional 1,456 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Boston Beer during the second quarter worth about $298,000. Amalgamated Bank increased its position in shares of Boston Beer by 14.0% during the second quarter. Amalgamated Bank now owns 1,376 shares of the company’s stock worth $412,000 after purchasing an additional 169 shares in the last quarter. Creative Planning acquired a new stake in shares of Boston Beer during the second quarter worth about $325,000. Finally, CAPROCK Group Inc. acquired a new stake in shares of Boston Beer during the second quarter worth about $219,000. 74.49% of the stock is currently owned by institutional investors and hedge funds.

A number of research firms have recently commented on SAM. Citigroup lifted their target price on Boston Beer from $285.00 to $290.00 and gave the stock a “hold” rating in a research report on Monday, October 29th. Zacks Investment Research cut shares of Boston Beer from a “hold” rating to a “sell” rating in a research report on Tuesday, September 25th. Jefferies Financial Group reiterated a “hold” rating and set a $270.00 price objective on shares of Boston Beer in a research note on Friday, October 26th. Berenberg Bank set a $290.00 price objective on shares of Boston Beer and gave the stock a “hold” rating in a report on Tuesday, September 11th. Finally, ValuEngine upgraded shares of Boston Beer from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 31st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. Boston Beer presently has an average rating of “Hold” and a consensus price target of $271.67.

In related news, Chairman C James Koch sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, September 13th. The shares were sold at an average price of $318.68, for a total transaction of $3,186,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Quincy B. Troupe sold 700 shares of the company’s stock in a transaction that occurred on Tuesday, October 30th. The shares were sold at an average price of $298.80, for a total transaction of $209,160.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,017 shares of company stock valued at $10,614,010. 29.20% of the stock is currently owned by insiders.

Shares of NYSE SAM traded up $7.70 during trading on Monday, reaching $282.24. The company had a trading volume of 185,147 shares, compared to its average volume of 144,473. Boston Beer Company Inc has a 52 week low of $160.40 and a 52 week high of $329.95. The company has a market cap of $3.16 billion, a PE ratio of 46.96, a P/E/G ratio of 3.67 and a beta of 0.52.

Boston Beer (NYSE:SAM) last announced its earnings results on Thursday, October 25th. The company reported $3.21 earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.35 by ($0.14). The company had revenue of $326.85 million during the quarter, compared to the consensus estimate of $270.60 million. Boston Beer had a return on equity of 18.00% and a net margin of 10.17%. As a group, research analysts expect that Boston Beer Company Inc will post 7.48 earnings per share for the current year.

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Boston Beer 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 sells approximately 60 beers under the Samuel Adams brand names; 10 flavored malt beverages under the Twisted Tea brand name; 20 hard cider beverages under the Angry Orchard brand; 5 hard sparkling waters under the Truly Spiked & Sparkling brand name; and approximately 50 beers under 4 brand names.

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Institutional Ownership by Quarter for Boston Beer (NYSE:SAM)

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