Van ECK Associates Corp Has $2.82 Million Stock Holdings in The Boston Beer Company, Inc. (NYSE:SAM)

Van ECK Associates Corp raised its position in The Boston Beer Company, Inc. (NYSE:SAM) by 11.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 8,166 shares of the company’s stock after buying an additional 827 shares during the period. Van ECK Associates Corp owned about 0.07% of Boston Beer worth $2,822,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. AQR Capital Management LLC raised its stake in Boston Beer by 65.9% during the 3rd quarter. AQR Capital Management LLC now owns 115,411 shares of the company’s stock worth $44,433,000 after buying an additional 45,864 shares during the period. Assenagon Asset Management S.A. raised its position in shares of Boston Beer by 1,337.9% during the third quarter. Assenagon Asset Management S.A. now owns 32,727 shares of the company’s stock worth $12,748,000 after purchasing an additional 30,451 shares during the period. Los Angeles Capital Management LLC bought a new position in shares of Boston Beer during the 3rd quarter valued at about $10,275,000. International Assets Investment Management LLC acquired a new position in shares of Boston Beer in the 4th quarter valued at approximately $64,490,000. Finally, iA Global Asset Management Inc. bought a new stake in Boston Beer during the 3rd quarter worth approximately $6,627,000. 81.13% of the stock is owned by institutional investors and hedge funds.

Boston Beer Price Performance

Shares of SAM stock opened at $273.31 on Wednesday. The company has a fifty day moving average price of $292.83 and a two-hundred day moving average price of $329.19. The Boston Beer Company, Inc. has a one year low of $264.63 and a one year high of $395.52. The stock has a market cap of $3.27 billion, a P/E ratio of 34.29, a P/E/G ratio of 1.04 and a beta of 1.03.

Boston Beer (NYSE:SAM) last issued its earnings results on Thursday, April 25th. The company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.96. The business had revenue of $426.05 million during the quarter, compared to the consensus estimate of $414.18 million. Boston Beer had a net margin of 4.60% and a return on equity of 10.11%. As a group, equities research analysts anticipate that The Boston Beer Company, Inc. will post 10.26 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SAM has been the subject of several research analyst reports. The Goldman Sachs Group reduced their price target on shares of Boston Beer from $257.00 to $250.00 and set a “sell” rating for the company in a report on Tuesday, April 9th. Piper Sandler started coverage on Boston Beer in a research note on Friday, March 22nd. They issued an “overweight” rating and a $350.00 price target on the stock. Citigroup reduced their price objective on Boston Beer from $350.00 to $315.00 and set a “neutral” rating for the company in a research report on Tuesday, April 16th. Roth Mkm lifted their target price on Boston Beer from $406.00 to $422.00 and gave the company a “buy” rating in a research report on Tuesday, January 23rd. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $337.00 price target on shares of Boston Beer in a research report on Wednesday, February 28th. Two 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’s stock. According to MarketBeat.com, Boston Beer currently has an average rating of “Hold” and an average price target of $335.21.

Insider Transactions at Boston Beer

In other Boston Beer news, insider Carolyn L. O’boyle sold 101 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $303.49, for a total transaction of $30,652.49. Following the completion of the sale, the insider now owns 7,029 shares of the company’s stock, valued at approximately $2,133,231.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 24.00% of the stock is currently owned by corporate insiders.

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