1,241 Shares in The Boston Beer Company, Inc. (NYSE:SAM) Purchased by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. acquired a new position in The Boston Beer Company, Inc. (NYSE:SAM) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,241 shares of the company’s stock, valued at approximately $429,000.

Other hedge funds have also added to or reduced their stakes in the company. Covestor Ltd grew its stake in Boston Beer by 88.4% in the 3rd quarter. Covestor Ltd now owns 81 shares of the company’s stock worth $32,000 after acquiring an additional 38 shares in the last quarter. Eagle Bay Advisors LLC bought a new position in Boston Beer in the 2nd quarter worth about $32,000. First Command Advisory Services Inc. bought a new position in Boston Beer in the 3rd quarter worth about $56,000. DekaBank Deutsche Girozentrale bought a new position in Boston Beer in the 3rd quarter worth about $59,000. Finally, Lazard Asset Management LLC bought a new position in Boston Beer in the 3rd quarter worth about $60,000. 81.13% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Boston Beer

In other Boston Beer news, insider Carolyn L. O’boyle sold 101 shares of Boston Beer stock in a transaction on Monday, April 1st. The shares were sold at an average price of $303.49, for a total value of $30,652.49. Following the completion of the transaction, the insider now owns 7,029 shares of the company’s stock, valued at $2,133,231.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Boston Beer news, insider Carolyn L. O’boyle sold 101 shares of Boston Beer stock in a transaction on Monday, April 1st. The shares were sold at an average price of $303.49, for a total value of $30,652.49. Following the completion of the transaction, the insider now owns 7,029 shares of the company’s stock, valued at $2,133,231.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Carolyn L. O’boyle sold 102 shares of Boston Beer stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $350.72, for a total transaction of $35,773.44. Following the completion of the transaction, the insider now directly owns 2,630 shares of the company’s stock, valued at approximately $922,393.60. The disclosure for this sale can be found here. 23.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently issued reports on SAM. Citigroup dropped their price objective on shares of Boston Beer from $350.00 to $315.00 and set a “neutral” rating on the stock in a research note on Tuesday. The Goldman Sachs Group dropped their price objective on shares of Boston Beer from $257.00 to $250.00 and set a “sell” rating on the stock in a research note on Tuesday, April 9th. UBS Group lowered their target price on shares of Boston Beer from $390.00 to $355.00 and set a “neutral” rating for the company in a research note on Wednesday, February 28th. Piper Sandler began coverage on shares of Boston Beer in a research note on Friday, March 22nd. They issued an “overweight” rating and a $350.00 target price for the company. Finally, Morgan Stanley lowered their target price on shares of Boston Beer from $285.00 to $275.00 and set an “underweight” rating for the company in a research note on Wednesday, February 28th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $334.86.

Boston Beer Price Performance

Shares of Boston Beer stock opened at $280.34 on Thursday. The firm has a fifty day moving average price of $313.04 and a 200 day moving average price of $337.51. The Boston Beer Company, Inc. has a 1 year low of $274.78 and a 1 year high of $395.52. The stock has a market cap of $3.37 billion, a PE ratio of 45.22, a price-to-earnings-growth ratio of 1.12 and a beta of 1.02.

Boston Beer (NYSE:SAM) last issued its earnings results on Tuesday, February 27th. The company reported ($1.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($1.27). Boston Beer had a return on equity of 8.13% and a net margin of 3.61%. The business had revenue of $393.72 million for the quarter, compared to analysts’ expectations of $413.57 million. During the same period last year, the business earned ($0.93) EPS. The company’s revenue for the quarter was down 12.0% on a year-over-year basis. As a group, equities analysts expect that The Boston Beer Company, Inc. will post 9.98 EPS for the current year.

Boston Beer 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, flavored malt beverages, and hard seltzers under the Samuel Adams, Twisted Tea, Truly, Angry Orchard, Dogfish Head, Angel City, and Coney Island brand names.