Seven Eight Capital LP Has $1.50 Million Stake in The Boston Beer Company, Inc. (NYSE:SAM)

Seven Eight Capital LP boosted its holdings in shares of The Boston Beer Company, Inc. (NYSE:SAM) by 160.0% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 4,940 shares of the company’s stock after buying an additional 3,040 shares during the period. Seven Eight Capital LP’s holdings in Boston Beer were worth $1,504,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Quarry LP acquired a new position in Boston Beer during the fourth quarter worth $42,000. CWM LLC grew its position in shares of Boston Beer by 17.6% in the fourth quarter. CWM LLC now owns 227 shares of the company’s stock valued at $78,000 after purchasing an additional 34 shares during the last quarter. Principal Securities Inc. acquired a new stake in shares of Boston Beer in the fourth quarter valued at about $82,000. Headlands Technologies LLC acquired a new stake in shares of Boston Beer in the first quarter valued at about $114,000. Finally, Covestor Ltd grew its position in shares of Boston Beer by 240.3% in the first quarter. Covestor Ltd now owns 405 shares of the company’s stock valued at $124,000 after purchasing an additional 286 shares during the last quarter. 81.13% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on SAM shares. StockNews.com downgraded Boston Beer from a “buy” rating to a “hold” rating in a research report on Wednesday, June 12th. Morgan Stanley raised Boston Beer from an “underweight” rating to an “equal weight” rating and set a $290.00 price target on the stock in a research report on Wednesday, June 5th. Evercore ISI raised their price target on Boston Beer from $310.00 to $325.00 and gave the company an “in-line” rating in a research report on Friday, April 26th. Deutsche Bank Aktiengesellschaft raised their price target on Boston Beer from $273.00 to $283.00 and gave the company a “hold” rating in a research report on Wednesday, July 17th. Finally, Citigroup reduced their target price on shares of Boston Beer from $350.00 to $315.00 and set a “neutral” rating for the company in a research note on Tuesday, April 16th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $335.29.

Boston Beer Stock Down 0.7 %

SAM traded down $1.79 during midday trading on Tuesday, reaching $273.47. 143,131 shares of the company’s stock were exchanged, compared to its average volume of 172,777. The firm has a market capitalization of $3.27 billion, a price-to-earnings ratio of 34.31, a price-to-earnings-growth ratio of 1.07 and a beta of 1.03. The Boston Beer Company, Inc. has a one year low of $254.40 and a one year high of $395.52. The business has a 50-day simple moving average of $286.94 and a two-hundred day simple moving average of $306.54.

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