Great West Life Assurance Co. Can Reduces Position in The Boston Beer Company, Inc. (NYSE:SAM)

Great West Life Assurance Co. Can decreased its position in shares of The Boston Beer Company, Inc. (NYSE:SAM) by 18.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,987 shares of the company’s stock after selling 1,328 shares during the quarter. Great West Life Assurance Co. Can’s holdings in The Boston Beer were worth $5,293,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the company. Old North State Trust LLC acquired a new position in The Boston Beer in the third quarter valued at about $49,000. Clear Harbor Asset Management LLC purchased a new position in shares of The Boston Beer during the third quarter worth approximately $58,000. Marshall Wace North America L.P. purchased a new position in shares of The Boston Beer during the first quarter worth approximately $59,000. Private Advisor Group LLC acquired a new stake in shares of The Boston Beer during the second quarter worth $79,000. Finally, Harvest Fund Management Co. Ltd acquired a new stake in shares of The Boston Beer during the third quarter worth $82,000. 70.66% of the stock is currently owned by hedge funds and other institutional investors.

In other The Boston Beer news, Chairman C James Koch sold 8,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $1,029.21, for a total transaction of $8,748,285.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Tara L. Heath sold 100 shares of the company’s stock in a transaction that occurred on Friday, October 23rd. The stock was sold at an average price of $1,009.00, for a total value of $100,900.00. The disclosure for this sale can be found here. Insiders have sold a total of 74,782 shares of company stock valued at $72,541,380 over the last three months. Company insiders own 29.10% of the company’s stock.

Shares of SAM stock opened at $994.29 on Friday. The Boston Beer Company, Inc. has a 1 year low of $290.02 and a 1 year high of $1,092.80. The firm’s fifty day simple moving average is $950.30 and its 200 day simple moving average is $847.89. The firm has a market capitalization of $12.17 billion, a P/E ratio of 89.25 and a beta of 1.00.

The Boston Beer (NYSE:SAM) last issued its earnings results on Thursday, October 22nd. The company reported $6.51 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $5.24 by $1.27. The Boston Beer had a net margin of 9.18% and a return on equity of 17.51%. The company had revenue of $492.80 million for the quarter, compared to the consensus estimate of $520.93 million. During the same quarter in the previous year, the company earned $3.27 EPS. The firm’s revenue for the quarter was up 30.0% compared to the same quarter last year. As a group, equities analysts anticipate that The Boston Beer Company, Inc. will post 13.35 EPS for the current fiscal year.

A number of research firms have commented on SAM. BidaskClub downgraded The Boston Beer from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft lifted their price target on The Boston Beer from $835.00 to $996.00 and gave the company a “hold” rating in a report on Friday, October 23rd. ValuEngine raised The Boston Beer from a “sell” rating to a “hold” rating in a research note on Tuesday, December 1st. MKM Partners reissued a “neutral” rating on shares of The Boston Beer in a research report on Friday, October 23rd. Finally, Guggenheim boosted their price target on The Boston Beer from $977.00 to $1,142.00 and gave the stock a “buy” rating in a research report on Friday, September 25th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $863.45.

About The Boston Beer

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, Truly Hard Seltzer, Angry Orchard, Dogfish Head, Angel City, Coney Island, Concrete Beach, Wild Leaf, and Tura brand names.

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

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