Nationwide Fund Advisors trimmed its holdings in shares of Boston Beer Company, Inc. (The) (NYSE:SAM) by 5.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,720 shares of the company’s stock after selling 1,091 shares during the quarter. Nationwide Fund Advisors owned approximately 0.16% of Boston Beer worth $3,080,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in SAM. Northwestern Mutual Wealth Management Co. raised its stake in shares of Boston Beer by 95.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 842 shares of the company’s stock worth $111,000 after buying an additional 411 shares during the period. Victory Capital Management Inc. raised its stake in Boston Beer by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 971 shares of the company’s stock valued at $128,000 after purchasing an additional 145 shares during the last quarter. IFP Advisors Inc raised its stake in Boston Beer by 12.7% in the 2nd quarter. IFP Advisors Inc now owns 1,206 shares of the company’s stock valued at $159,000 after purchasing an additional 136 shares during the last quarter. Cubist Systematic Strategies LLC raised its stake in Boston Beer by 5.1% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 1,576 shares of the company’s stock valued at $208,000 after purchasing an additional 76 shares during the last quarter. Finally, Quantitative Systematic Strategies LLC acquired a new position in Boston Beer in the 3rd quarter valued at $237,000. 75.83% of the stock is owned by institutional investors and hedge funds.
Several research analysts recently commented on SAM shares. TheStreet raised Boston Beer from a “c+” rating to a “b-” rating in a research note on Thursday, November 2nd. Zacks Investment Research raised Boston Beer from a “hold” rating to a “buy” rating and set a $187.00 price objective for the company in a research note on Monday, October 30th. Jefferies Group reissued a “hold” rating on shares of Boston Beer in a research note on Thursday, September 7th. Stifel Nicolaus started coverage on Boston Beer in a research note on Tuesday, December 5th. They issued a “hold” rating and a $166.00 price objective for the company. Finally, Berenberg Bank raised Boston Beer from a “sell” rating to a “hold” rating in a research note on Monday. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the stock. Boston Beer currently has a consensus rating of “Hold” and a consensus target price of $151.27.
Boston Beer (NYSE:SAM) last issued its earnings results on Thursday, October 26th. The company reported $2.78 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.99 by $0.79. The company had revenue of $247.04 million during the quarter, compared to analysts’ expectations of $256.73 million. Boston Beer had a return on equity of 21.11% and a net margin of 9.97%. The firm’s quarterly revenue was down 2.5% on a year-over-year basis. During the same period in the prior year, the business earned $2.48 EPS. analysts forecast that Boston Beer Company, Inc. will post 6.22 EPS for the current year.
In other news, CMO Jonathan N. Potter sold 439 shares of the stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $171.90, for a total transaction of $75,464.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP David L. Grinnell sold 1,000 shares of the stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $186.75, for a total value of $186,750.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,210 shares of company stock valued at $395,983. 28.50% of the stock is owned by company insiders.
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Boston Beer Profile
The Boston Beer Company, Inc is a craft brewer in the United States. The Company is engaged in the business of producing and selling alcohol beverages primarily in the domestic market and in selected international markets. The Company operates through two segments: Boston Beer Company segment, and A&S Brewing Collaborative segment.
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