Treasurer of the State of North Carolina Acquires 55 Shares of The Boston Beer Company, Inc. (NYSE:SAM)

Treasurer of the State of North Carolina grew its holdings in The Boston Beer Company, Inc. (NYSE:SAM – Get Rating) by 1.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,097 shares of the company’s stock after acquiring an additional 55 shares during the quarter. Treasurer of the State of North Carolina’s holdings in Boston Beer were worth $1,350,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. Loomis Sayles & Co. L P acquired a new position in shares of Boston Beer during the first quarter worth about $38,859,000. Millennium Management LLC acquired a new position in shares of Boston Beer during the second quarter worth about $18,690,000. Wellington Management Group LLP boosted its position in shares of Boston Beer by 119.6% during the first 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 during the period. Federated Hermes Inc. boosted its position in shares of 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 buying an additional 49,906 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its position in shares of Boston Beer by 26.6% during the third quarter. Jacobs Levy Equity Management Inc. now owns 142,147 shares of the company’s stock worth $46,006,000 after buying an additional 29,851 shares during the period. 68.72% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SAM. Sanford C. Bernstein cut Boston Beer from a “market perform” rating to an “underperform” rating and reduced their price objective for the stock from $320.00 to $255.00 in a research report on Thursday, February 16th. Roth Capital reaffirmed a “neutral” rating on shares of Boston Beer in a research report on Tuesday, February 7th. Roth Mkm reduced their price target on Boston Beer from $282.00 to $276.00 and set a “neutral” rating for the company in a research report on Thursday, February 16th. StockNews.com began coverage on Boston Beer in a research report on Thursday. They set a “hold” rating for the company. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Boston Beer from $291.00 to $297.00 in a research report on Friday, April 28th. Six research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $298.58.

Insider Transactions at Boston Beer

In other news, VP Annette N. Fritsch sold 220 shares of the stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $318.37, for a total transaction of $70,041.40. Following the transaction, the vice president now owns 1,397 shares in the company, valued at $444,762.89. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, VP Annette N. Fritsch sold 220 shares of the stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $318.37, for a total transaction of $70,041.40. Following the transaction, the vice president now owns 1,397 shares in the company, valued at $444,762.89. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider John C. Geist sold 646 shares of the firm’s stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $320.14, for a total value of $206,810.44. Following the transaction, the insider now owns 5,573 shares in the company, valued at approximately $1,784,140.22. The disclosure for this sale can be found here. 23.30% of the stock is owned by corporate insiders.

Boston Beer Stock Down 0.2 %

NYSE:SAM opened at $325.57 on Friday. The stock’s 50 day moving average price is $317.78 and its two-hundred day moving average price is $342.74. The firm has a market capitalization of $3.99 billion, a price-to-earnings ratio of 66.99 and a beta of 1.09. The Boston Beer Company, Inc. has a 12-month low of $287.00 and a 12-month high of $422.75.

Boston Beer (NYSE:SAM – Get Rating) last announced its earnings results on Thursday, April 27th. The company reported ($0.73) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.41). The firm had revenue of $410.00 million for the quarter, compared to the consensus estimate of $412.47 million. Boston Beer had a return on equity of 7.58% and a net margin of 2.82%. Boston Beer’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same quarter last year, the business posted ($0.16) EPS. Equities research analysts expect that The Boston Beer Company, Inc. will post 7.02 EPS for the current year.

Boston Beer Profile

(Get Rating)

Boston Beer Co, Inc engages in the production of alcoholic beverages. Its brands include Truly Hard Seltzer, Twisted Tea, Samuel Adams, Angry Orchard, Hard Cider and Dogfish Head Craft Brewery. Boston Beer produces alcohol beverages, including hard seltzer, malt beverages (“beers“), and hard cider at company-owned breweries and its cidery, and under contract arrangements at other brewery locations.