Smith Asset Management Group LP Has $3.19 Million Position in Boston Beer Company Inc (SAM)

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Smith Asset Management Group LP cut its position in shares of Boston Beer Company Inc (NYSE:SAM) by 17.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,093 shares of the company’s stock after selling 2,340 shares during the quarter. Smith Asset Management Group LP owned approximately 0.09% of Boston Beer worth $3,189,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in SAM. Macquarie Group Ltd. raised its position in Boston Beer by 30,313.3% in the second quarter. Macquarie Group Ltd. now owns 182,480 shares of the company’s stock worth $54,689,000 after acquiring an additional 181,880 shares during the period. MERIAN GLOBAL INVESTORS UK Ltd raised its position in Boston Beer by 39.1% in the third quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 179,484 shares of the company’s stock worth $51,601,000 after acquiring an additional 50,418 shares during the period. Acadian Asset Management LLC raised its position in Boston Beer by 175.3% in the second quarter. Acadian Asset Management LLC now owns 74,761 shares of the company’s stock worth $22,409,000 after acquiring an additional 47,608 shares during the period. Sandler Capital Management bought a new stake in Boston Beer in the second quarter worth about $13,487,000. Finally, BlackRock Inc. raised its position in Boston Beer by 4.3% in the second quarter. BlackRock Inc. now owns 942,356 shares of the company’s stock worth $282,424,000 after acquiring an additional 38,908 shares during the period. Institutional investors and hedge funds own 71.90% of the company’s stock.

NYSE SAM opened at $304.47 on Wednesday. Boston Beer Company Inc has a 12-month low of $160.40 and a 12-month high of $329.95. The company has a market capitalization of $3.34 billion, a PE ratio of 50.66, a price-to-earnings-growth ratio of 3.88 and a beta of 0.56.

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

Several analysts have commented on the stock. ValuEngine raised shares of Boston Beer from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 31st. Citigroup lifted their price objective on shares of Boston Beer from $285.00 to $290.00 and gave the stock a “hold” rating in a research report on Monday, October 29th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $270.00 price objective on shares of Boston Beer in a research report on Friday, October 26th. Zacks Investment Research raised shares of Boston Beer from a “sell” rating to a “hold” rating in a research report on Monday, October 1st. Finally, Guggenheim initiated coverage on shares of Boston Beer in a research report on Thursday, September 13th. They issued a “buy” rating and a $381.00 price target on the stock. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Boston Beer presently has a consensus rating of “Hold” and a consensus target price of $264.85.

In related news, Chairman C James Koch sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, September 17th. The shares were sold at an average price of $316.39, for a total transaction of $1,581,950.00. The transaction was disclosed in a document filed with the SEC, which is accessible 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 stock was 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. In the last three months, insiders sold 25,700 shares of company stock worth $8,018,760. Insiders own 29.20% of the company’s stock.

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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 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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