Mackay Shields LLC Cuts Position in Boston Beer Company Inc (SAM)

Mackay Shields LLC lessened its holdings in Boston Beer Company Inc (NYSE:SAM) by 23.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,775 shares of the company’s stock after selling 2,025 shares during the quarter. Mackay Shields LLC owned about 0.06% of Boston Beer worth $1,632,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the stock. QS Investors LLC increased its holdings in Boston Beer by 2,250.7% in the 4th quarter. QS Investors LLC now owns 8,110 shares of the company’s stock worth $1,954,000 after buying an additional 7,765 shares during the period. Lord Abbett & CO. LLC grew its stake in shares of Boston Beer by 3.6% during the 4th quarter. Lord Abbett & CO. LLC now owns 24,428 shares of the company’s stock worth $5,883,000 after purchasing an additional 860 shares during the period. Geode Capital Management LLC grew its stake in shares of Boston Beer by 4.5% during the 4th quarter. Geode Capital Management LLC now owns 120,005 shares of the company’s stock worth $28,902,000 after purchasing an additional 5,179 shares during the period. California State Teachers Retirement System grew its stake in shares of Boston Beer by 1.0% during the 4th quarter. California State Teachers Retirement System now owns 13,030 shares of the company’s stock worth $3,138,000 after purchasing an additional 131 shares during the period. Finally, Stifel Financial Corp acquired a new stake in shares of Boston Beer during the 4th quarter worth approximately $454,000. Institutional investors own 74.02% of the company’s stock.

In other Boston Beer news, CAO Matthew Donal Murphy sold 6,000 shares of the firm’s stock in a transaction on Tuesday, February 26th. The stock was sold at an average price of $305.72, for a total value of $1,834,320.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP David L. Grinnell sold 1,500 shares of the firm’s stock in a transaction on Thursday, February 21st. The shares were sold at an average price of $297.50, for a total value of $446,250.00. The disclosure for this sale can be found here. Insiders sold a total of 19,539 shares of company stock worth $5,954,745 in the last 90 days. 29.20% of the stock is currently owned by insiders.



A number of brokerages have recently commented on SAM. Zacks Investment Research raised shares of Boston Beer from a “hold” rating to a “buy” rating and set a $279.00 price objective on the stock in a research note on Monday, December 31st. ValuEngine cut shares of Boston Beer from a “strong-buy” rating to a “buy” rating in a research note on Thursday. BMO Capital Markets raised their price objective on shares of Boston Beer to $275.00 and gave the stock a “market perform” rating in a research note on Thursday, February 21st. Citigroup set a $311.00 price objective on shares of Boston Beer and gave the stock a “hold” rating in a research note on Tuesday, February 26th. Finally, UBS Group began coverage on Boston Beer in a research report on Thursday, December 13th. They set a “sell” rating and a $228.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $268.85.

Shares of NYSE:SAM opened at $286.04 on Monday. Boston Beer Company Inc has a 1 year low of $183.05 and a 1 year high of $329.95. The company has a market cap of $3.32 billion, a PE ratio of 38.29, a price-to-earnings-growth ratio of 3.33 and a beta of 0.57.

Boston Beer (NYSE:SAM) last announced its 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 firm had revenue of $225.22 million for the quarter, compared to analyst estimates of $227.89 million. Boston Beer had a return on equity of 20.22% and a net margin of 9.12%. The business’s revenue was up 9.2% on a year-over-year basis. During the same quarter last year, the firm posted $2.57 EPS. As a group, analysts expect that Boston Beer Company Inc will post 8.6 earnings per share for the current fiscal year.

TRADEMARK VIOLATION WARNING: “Mackay Shields LLC Cuts Position in Boston Beer Company Inc (SAM)” was published by Dakota Financial News and is owned by of Dakota Financial News. If you are accessing this piece on another site, it was illegally copied and republished in violation of U.S. and international trademark & copyright legislation. The correct version of this piece can be read at https://dakotafinancialnews.com/2019/03/25/mackay-shields-llc-cuts-position-in-boston-beer-company-inc-sam.html.

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.

Further Reading: How dollar cost averaging works

Want to see what other hedge funds are holding SAM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Boston Beer Company Inc (NYSE:SAM).

Institutional Ownership by Quarter for Boston Beer (NYSE:SAM)

Receive News & Ratings for Boston Beer Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boston Beer and related companies with MarketBeat.com's FREE daily email newsletter.