Chartwell Investment Partners LLC Sells 2,570 Shares of Boston Beer Company Inc (NYSE:SAM)

Chartwell Investment Partners LLC lowered its stake in shares of Boston Beer Company Inc (NYSE:SAM) by 31.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 5,558 shares of the company’s stock after selling 2,570 shares during the quarter. Chartwell Investment Partners LLC’s holdings in Boston Beer were worth $2,983,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in SAM. Marshall Wace North America L.P. purchased a new stake in shares of Boston Beer in the first quarter valued at $59,000. NEXT Financial Group Inc lifted its stake in Boston Beer by 14.8% in the first quarter. NEXT Financial Group Inc now owns 217 shares of the company’s stock worth $80,000 after purchasing an additional 28 shares during the last quarter. Sandy Spring Bank boosted its position in shares of Boston Beer by 681.8% during the first quarter. Sandy Spring Bank now owns 258 shares of the company’s stock valued at $95,000 after buying an additional 225 shares during the period. CIBC Asset Management Inc bought a new position in shares of Boston Beer during the second quarter valued at approximately $226,000. Finally, Parallel Advisors LLC raised its holdings in shares of Boston Beer by 35.1% in the second quarter. Parallel Advisors LLC now owns 423 shares of the company’s stock worth $227,000 after buying an additional 110 shares during the period. Institutional investors own 72.33% of the company’s stock.

In related news, insider Samuel A. Calagione III sold 18,754 shares of the company’s stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $799.02, for a total value of $14,984,821.08. Following the transaction, the insider now directly owns 6,141 shares of the company’s stock, valued at approximately $4,906,781.82. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder C James Koch sold 10,000 shares of the firm’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $533.66, for a total value of $5,336,600.00. Insiders have sold 62,934 shares of company stock worth $38,273,965 in the last 90 days. Insiders own 29.10% of the company’s stock.

Several equities analysts have commented on SAM shares. Deutsche Bank upped their price objective on Boston Beer from $540.00 to $656.00 and gave the company a “hold” rating in a research report on Friday, July 24th. Jefferies Financial Group reaffirmed an “underperform” rating on shares of Boston Beer in a research note on Friday, July 24th. Evercore ISI started coverage on shares of Boston Beer in a research report on Tuesday, July 14th. They issued an “outperform” rating and a $725.00 price objective for the company. Zacks Investment Research raised shares of Boston Beer from a “sell” rating to a “hold” rating and set a $505.00 price target for the company in a research note on Tuesday, May 12th. Finally, MKM Partners downgraded Boston Beer from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $351.00 to $371.00 in a report on Thursday, April 16th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company’s stock. Boston Beer has a consensus rating of “Buy” and an average target price of $535.43.

NYSE SAM opened at $810.44 on Friday. The firm’s fifty day simple moving average is $609.22 and its two-hundred day simple moving average is $464.10. The firm has a market capitalization of $9.90 billion, a P/E ratio of 72.75 and a beta of 0.82. Boston Beer Company Inc has a 12-month low of $290.02 and a 12-month high of $845.70.

Boston Beer (NYSE:SAM) last posted its quarterly earnings data on Thursday, July 23rd. The company reported $4.88 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.20 by $2.68. Boston Beer had a return on equity of 17.51% and a net margin of 9.18%. The firm had revenue of $452.14 million during the quarter, compared to analysts’ expectations of $418.75 million. On average, analysts forecast that Boston Beer Company Inc will post 12.45 EPS for the current year.

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 offers various beers, hard ciders, and hard seltzers under the Samuel Adams, Twisted Tea, Angry Orchard Hard Cider, and Truly Hard Seltzer brand names.

Further Reading: What is Net Asset Value (NAV)?

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

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