Xponance Inc. Lowers Stock Position in The Boston Beer Company, Inc. (NYSE:SAM)

Xponance Inc. lessened its stake in shares of The Boston Beer Company, Inc. (NYSE:SAM) by 5.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,952 shares of the company’s stock after selling 116 shares during the quarter. Xponance Inc.’s holdings in Boston Beer were worth $675,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. Covestor Ltd lifted its position in shares of Boston Beer by 88.4% during the third quarter. Covestor Ltd now owns 81 shares of the company’s stock worth $32,000 after purchasing an additional 38 shares in the last quarter. First Command Advisory Services Inc. acquired a new stake in shares of Boston Beer during the third quarter worth about $56,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Boston Beer during the third quarter worth about $59,000. CWM LLC lifted its position in shares of Boston Beer by 264.2% during the third quarter. CWM LLC now owns 193 shares of the company’s stock worth $75,000 after purchasing an additional 140 shares in the last quarter. Finally, OLD National Bancorp IN acquired a new stake in shares of Boston Beer during the third quarter worth about $210,000. Hedge funds and other institutional investors own 81.13% of the company’s stock.

Insider Activity at Boston Beer

In related 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 transaction, the insider now directly owns 7,029 shares in the company, valued at approximately $2,133,231.21. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Boston Beer news, insider Carolyn L. O’boyle sold 102 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $350.72, for a total value of $35,773.44. Following the completion of the sale, the insider now owns 2,630 shares of the company’s stock, valued at $922,393.60. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Carolyn L. O’boyle sold 101 shares of the firm’s 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 sale, the insider now directly owns 7,029 shares of the company’s stock, valued at approximately $2,133,231.21. The disclosure for this sale can be found here. 23.30% of the stock is currently owned by insiders.

Boston Beer Price Performance

NYSE:SAM opened at $283.20 on Friday. The firm’s fifty day moving average price is $303.71 and its 200 day moving average price is $333.63. The Boston Beer Company, Inc. has a 1-year low of $274.78 and a 1-year high of $395.52. The firm has a market cap of $3.40 billion, a price-to-earnings ratio of 35.53, a price-to-earnings-growth ratio of 1.18 and a beta of 1.02.

Boston Beer (NYSE:SAM) last posted its quarterly earnings data on Thursday, April 25th. The company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.96. Boston Beer had a net margin of 4.60% and a return on equity of 10.00%. The firm had revenue of $426.05 million for the quarter, compared to analyst estimates of $414.18 million. As a group, analysts expect that The Boston Beer Company, Inc. will post 9.9 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Evercore ISI increased their price target on shares of Boston Beer from $310.00 to $325.00 and gave the stock an “in-line” rating in a research report on Friday. Piper Sandler assumed coverage on shares of Boston Beer in a report on Friday, March 22nd. They issued an “overweight” rating and a $350.00 target price on the stock. The Goldman Sachs Group reduced their target price on shares of Boston Beer from $257.00 to $250.00 and set a “sell” rating on the stock in a report on Tuesday, April 9th. Citigroup reduced their target price on shares of Boston Beer from $350.00 to $315.00 and set a “neutral” rating on the stock in a report on Tuesday, April 16th. Finally, Morgan Stanley reduced their target price on shares of Boston Beer from $285.00 to $275.00 and set an “underweight” rating on the stock in a report on Wednesday, February 28th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Boston Beer currently has a consensus rating of “Hold” and an average price target of $335.21.

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