Arizona State Retirement System Cuts Stake in The Boston Beer Company, Inc. (NYSE:SAM)

Arizona State Retirement System cut its holdings in The Boston Beer Company, Inc. (NYSE:SAM) by 2.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,700 shares of the company’s stock after selling 59 shares during the quarter. Arizona State Retirement System’s holdings in Boston Beer were worth $933,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Camelot Portfolios LLC lifted its position in shares of Boston Beer by 69.0% in the 4th quarter. Camelot Portfolios LLC now owns 980 shares of the company’s stock worth $339,000 after purchasing an additional 400 shares during the period. Oak Thistle LLC bought a new position in Boston Beer in the fourth quarter worth approximately $1,575,000. Schechter Investment Advisors LLC lifted its holdings in Boston Beer by 5.9% during the fourth quarter. Schechter Investment Advisors LLC now owns 4,637 shares of the company’s stock worth $1,603,000 after buying an additional 258 shares during the period. Pacer Advisors Inc. boosted its position in Boston Beer by 29.2% during the 4th quarter. Pacer Advisors Inc. now owns 1,412 shares of the company’s stock valued at $488,000 after acquiring an additional 319 shares in the last quarter. Finally, Raymond James & Associates increased its holdings in shares of Boston Beer by 12.4% in the 4th quarter. Raymond James & Associates now owns 1,126 shares of the company’s stock valued at $389,000 after acquiring an additional 124 shares during the period. 81.13% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Boston Beer news, insider Carolyn L. O’boyle sold 102 shares of Boston Beer stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $350.72, for a total transaction of $35,773.44. Following the completion of the sale, the insider now directly owns 2,630 shares in the company, valued at approximately $922,393.60. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Boston Beer news, insider Carolyn L. O’boyle sold 102 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $350.72, for a total transaction of $35,773.44. Following the sale, the insider now directly owns 2,630 shares of the company’s stock, valued at approximately $922,393.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Carolyn L. O’boyle sold 101 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $303.49, for a total value of $30,652.49. Following the completion of the transaction, the insider now directly owns 7,029 shares of the company’s stock, valued at approximately $2,133,231.21. The disclosure for this sale can be found here. 24.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. The Goldman Sachs Group decreased their price objective on Boston Beer from $257.00 to $250.00 and set a “sell” rating for the company in a research note on Tuesday, April 9th. Royal Bank of Canada reissued a “sector perform” rating and set a $337.00 price target on shares of Boston Beer in a research report on Wednesday, February 28th. UBS Group cut their price objective on shares of Boston Beer from $390.00 to $355.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 28th. Morgan Stanley reduced their price objective on shares of Boston Beer from $285.00 to $275.00 and set an “underweight” rating for the company in a research note on Wednesday, February 28th. Finally, Roth Mkm raised their target price on shares of Boston Beer from $406.00 to $422.00 and gave the company a “buy” rating in a research note on Tuesday, January 23rd. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $334.86.

Boston Beer Price Performance

NYSE SAM opened at $274.76 on Wednesday. The company has a market cap of $3.30 billion, a price-to-earnings ratio of 44.32, a PEG ratio of 1.03 and a beta of 1.02. The stock’s fifty day moving average price is $314.49 and its 200 day moving average price is $337.91. The Boston Beer Company, Inc. has a 1 year low of $274.78 and a 1 year high of $395.52.

Boston Beer (NYSE:SAM) last announced its quarterly earnings data on Tuesday, February 27th. The company reported ($1.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($1.27). Boston Beer had a net margin of 3.61% and a return on equity of 8.13%. The firm had revenue of $393.72 million during the quarter, compared to analyst estimates of $413.57 million. During the same period in the prior year, the company posted ($0.93) earnings per share. The firm’s revenue for the quarter was down 12.0% on a year-over-year basis. Research analysts expect that The Boston Beer Company, Inc. will post 9.98 earnings per share for the current year.

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 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.