Gideon Capital Advisors Inc. purchased a new position in shares of Boston Beer Company Inc (NYSE:SAM) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 1,389 shares of the company’s stock, valued at approximately $335,000.
Other institutional investors have also modified their holdings of the company. NumerixS Investment Technologies Inc purchased a new position in shares of Boston Beer during the 4th quarter worth $72,000. Bank of Montreal Can lifted its stake in shares of Boston Beer by 19.8% during the 4th quarter. Bank of Montreal Can now owns 351 shares of the company’s stock valued at $85,000 after buying an additional 58 shares in the last quarter. Flagship Harbor Advisors LLC lifted its stake in shares of Boston Beer by 159.4% during the 4th quarter. Flagship Harbor Advisors LLC now owns 415 shares of the company’s stock valued at $99,000 after buying an additional 255 shares in the last quarter. Oakworth Capital Inc. purchased a new position in shares of Boston Beer during the 4th quarter valued at $120,000. Finally, IFP Advisors Inc lifted its stake in shares of Boston Beer by 12.0% during the 4th quarter. IFP Advisors Inc now owns 577 shares of the company’s stock valued at $138,000 after buying an additional 62 shares in the last quarter. Institutional investors and hedge funds own 74.36% of the company’s stock.
In other news, VP David L. Grinnell sold 500 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $320.00, for a total value of $160,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider David A. Burwick sold 291 shares of the business’s stock in a transaction dated Wednesday, January 2nd. The stock was sold at an average price of $235.14, for a total transaction of $68,425.74. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,539 shares of company stock worth $5,954,745. 29.20% of the stock is currently owned by insiders.
Boston Beer (NYSE:SAM) last announced its quarterly earnings results on Wednesday, February 20th. The company reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.77 by $0.09. The company had revenue of $225.22 million for the quarter, compared to the consensus estimate of $227.89 million. Boston Beer had a net margin of 9.12% and a return on equity of 20.22%. Boston Beer’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.57 EPS. On average, equities research analysts predict that Boston Beer Company Inc will post 8.6 earnings per share for the current year.
A number of research analysts recently weighed in on the stock. ValuEngine upgraded shares of Boston Beer from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 22nd. Susquehanna Bancshares lowered their target price on shares of Boston Beer from $283.00 to $241.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 8th. BMO Capital Markets lifted their target price on shares of Boston Beer to $275.00 and gave the company a “market perform” rating in a research note on Thursday, February 21st. Guggenheim restated a “buy” rating and set a $308.00 target price on shares of Boston Beer in a research note on Thursday, February 21st. Finally, Macquarie upgraded shares of Boston Beer from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $260.00 to $275.00 in a research note on Thursday, February 21st. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Boston Beer presently has an average rating of “Hold” and a consensus target price of $268.85.
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Boston Beer Company 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 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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