The Boston Beer Company, Inc. (NYSE:SAM) Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. grew its position in shares of The Boston Beer Company, Inc. (NYSE:SAM – Get Rating) by 0.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 37,259 shares of the company’s stock after acquiring an additional 150 shares during the quarter. Principal Financial Group Inc.’s holdings in Boston Beer were worth $12,278,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Loomis Sayles & Co. L P acquired a new position in Boston Beer during the 1st quarter valued at about $38,859,000. Millennium Management LLC bought a new stake in shares of Boston Beer during the second quarter valued at approximately $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. grew its holdings in Boston Beer by 3,954.5% in the 1st 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 in the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its position in Boston Beer by 26.6% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 142,147 shares of the company’s stock valued at $46,006,000 after acquiring an additional 29,851 shares during the period. Institutional investors own 68.72% of the company’s stock.

Boston Beer Stock Down 3.1 %

Shares of NYSE SAM opened at $317.22 on Friday. The Boston Beer Company, Inc. has a 12 month low of $287.00 and a 12 month high of $422.75. The company has a market cap of $3.89 billion, a price-to-earnings ratio of 65.27 and a beta of 1.09. The business has a fifty day simple moving average of $318.97 and a 200-day simple moving average of $341.68.

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

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SAM. Credit Suisse Group decreased their price target on Boston Beer from $400.00 to $375.00 and set an “outperform” rating for the company in a research note on Thursday, February 16th. StockNews.com started coverage on Boston Beer in a report on Thursday, May 18th. They set a “hold” rating on the stock. Roth Mkm lowered their price target on Boston Beer from $282.00 to $276.00 and set a “neutral” rating on the stock in a report on Thursday, February 16th. Sanford C. Bernstein lowered Boston Beer from a “market perform” rating to an “underperform” rating and lowered their price target for the company from $320.00 to $255.00 in a report on Thursday, February 16th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Boston Beer from $291.00 to $297.00 in a report on Friday, April 28th. Six equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $298.58.

Insider Buying and Selling

In other news, VP Annette N. Fritsch sold 220 shares of the firm’s stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $318.37, for a total transaction of $70,041.40. Following the completion of the sale, the vice president now directly owns 1,397 shares of the company’s stock, valued at approximately $444,762.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider John C. Geist sold 646 shares of the firm’s stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $320.14, for a total transaction of $206,810.44. Following the completion of the sale, the insider now directly owns 5,573 shares of the company’s stock, valued at approximately $1,784,140.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Annette N. Fritsch sold 220 shares of the stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $318.37, for a total value of $70,041.40. Following the transaction, the vice president now directly owns 1,397 shares in the company, valued at approximately $444,762.89. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,510 shares of company stock valued at $813,421. Corporate insiders own 23.30% of the company’s stock.

Boston Beer Company Profile

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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.