10,950 Shares in The Boston Beer Company, Inc. (NYSE:SAM) Purchased by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board purchased a new position in shares of The Boston Beer Company, Inc. (NYSE:SAM) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 10,950 shares of the company’s stock, valued at approximately $3,333,000. Ontario Teachers Pension Plan Board owned approximately 0.09% of Boston Beer at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Envestnet Portfolio Solutions Inc. increased its stake in shares of Boston Beer by 5.7% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 609 shares of the company’s stock worth $210,000 after purchasing an additional 33 shares in the last quarter. CWM LLC raised its holdings in shares of Boston Beer by 17.6% during the fourth quarter. CWM LLC now owns 227 shares of the company’s stock valued at $78,000 after acquiring an additional 34 shares during the last quarter. Cardinal Capital Management lifted its position in shares of Boston Beer by 1.3% in the fourth quarter. Cardinal Capital Management now owns 2,784 shares of the company’s stock valued at $962,000 after acquiring an additional 36 shares in the last quarter. Treasurer of the State of North Carolina lifted its position in shares of Boston Beer by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 4,167 shares of the company’s stock valued at $1,440,000 after acquiring an additional 40 shares in the last quarter. Finally, Pacific Global Investment Management Co. boosted its stake in shares of Boston Beer by 6.5% in the fourth quarter. Pacific Global Investment Management Co. now owns 1,031 shares of the company’s stock worth $356,000 after acquiring an additional 63 shares during the last quarter. 81.13% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SAM has been the topic of a number of research reports. StockNews.com lowered Boston Beer from a “buy” rating to a “hold” rating in a report on Wednesday, June 12th. Piper Sandler lowered their price target on shares of Boston Beer from $350.00 to $344.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. Citigroup cut their price objective on shares of Boston Beer from $350.00 to $315.00 and set a “neutral” rating for the company in a report on Tuesday, April 16th. Jefferies Financial Group upgraded Boston Beer from a “hold” rating to a “buy” rating and boosted their target price for the stock from $335.00 to $360.00 in a report on Tuesday, May 14th. Finally, The Goldman Sachs Group cut their price target on Boston Beer from $257.00 to $250.00 and set a “sell” rating for the company in a report on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $335.29.

Boston Beer Trading Down 1.4 %

SAM traded down $4.03 on Monday, hitting $275.26. The company had a trading volume of 124,306 shares, compared to its average volume of 172,990. The company’s fifty day moving average price is $287.34 and its 200 day moving average price is $307.30. The Boston Beer Company, Inc. has a 1 year low of $254.40 and a 1 year high of $395.52. The firm has a market cap of $3.29 billion, a P/E ratio of 35.04, a PEG ratio of 1.07 and a beta of 1.03.

Boston Beer (NYSE:SAM) last released its quarterly earnings results on Thursday, April 25th. The company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.96. The business had revenue of $426.05 million for the quarter, compared to the consensus estimate of $414.18 million. Boston Beer had a net margin of 4.60% and a return on equity of 10.11%. On average, analysts predict that The Boston Beer Company, Inc. will post 10.26 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.