NJ State Employees Deferred Compensation Plan bought a new stake in Boston Beer Company Inc (NYSE:SAM) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,500 shares of the company’s stock, valued at approximately $567,000.
Other large investors have also recently bought and sold shares of the company. Stifel Financial Corp purchased a new position in shares of Boston Beer in the 4th quarter valued at approximately $454,000. Bank of America Corp DE grew its stake in shares of Boston Beer by 74.4% in the 4th quarter. Bank of America Corp DE now owns 16,959 shares of the company’s stock valued at $4,084,000 after purchasing an additional 7,236 shares during the last quarter. Municipal Employees Retirement System of Michigan purchased a new position in shares of Boston Beer in the 4th quarter valued at approximately $494,000. Amundi Pioneer Asset Management Inc. purchased a new position in shares of Boston Beer in the 4th quarter valued at approximately $177,000. Finally, Thrivent Financial for Lutherans grew its stake in shares of Boston Beer by 3.9% in the 4th quarter. Thrivent Financial for Lutherans now owns 2,189 shares of the company’s stock valued at $527,000 after purchasing an additional 82 shares during the last quarter. Institutional investors own 73.77% of the company’s stock.
SAM has been the topic of several analyst reports. Macquarie lifted their target price on Boston Beer from $325.00 to $365.00 and gave the company a “neutral” rating in a research note on Friday, May 10th. Royal Bank of Canada set a $346.00 target price on Boston Beer and gave the company a “hold” rating in a research note on Friday, July 26th. UBS Group raised their price target on Boston Beer from $260.00 to $305.00 and gave the company a “sell” rating in a report on Monday, July 29th. Zacks Investment Research cut Boston Beer from a “strong-buy” rating to a “hold” rating and set a $415.00 price target for the company. in a report on Wednesday, June 26th. Finally, Credit Suisse Group raised their price target on Boston Beer from $320.00 to $375.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company’s stock. Boston Beer has an average rating of “Hold” and an average price target of $337.32.
Shares of SAM traded up $0.75 during mid-day trading on Friday, hitting $383.79. The company’s stock had a trading volume of 202,453 shares, compared to its average volume of 188,053. The business has a 50-day moving average of $375.89. The stock has a market capitalization of $4.47 billion, a price-to-earnings ratio of 51.38, a P/E/G ratio of 4.29 and a beta of 0.68. Boston Beer Company Inc has a 1-year low of $230.93 and a 1-year high of $403.01.
Boston Beer (NYSE:SAM) last posted its quarterly earnings results on Thursday, July 25th. The company reported $2.34 EPS for the quarter, beating the consensus estimate of $1.83 by $0.51. The business had revenue of $318.40 million during the quarter, compared to analysts’ expectations of $308.49 million. Boston Beer had a return on equity of 22.89% and a net margin of 9.92%. The company’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same period last year, the firm earned $1.98 EPS. As a group, equities analysts anticipate that Boston Beer Company Inc will post 8.93 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, and hard seltzers under the Samuel Adams, Twisted Tea, Angry Orchard Hard Cider, and Truly Hard Seltzer brand names.
Read More: Why do analysts give a neutral rating?
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