BlackRock Inc. Purchases 18,282 Shares of Boston Beer Company Inc (NYSE:SAM)

BlackRock Inc. raised its stake in Boston Beer Company Inc (NYSE:SAM) by 1.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 991,265 shares of the company’s stock after buying an additional 18,282 shares during the period. BlackRock Inc. owned about 8.50% of Boston Beer worth $292,154,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Buffington Mohr McNeal bought a new position in shares of Boston Beer in the 1st quarter worth $29,000. Quadrant Capital Group LLC bought a new position in shares of Boston Beer in the 1st quarter worth $51,000. Osborn Williams & Donohoe LLC bought a new position in shares of Boston Beer in the 1st quarter worth $53,000. NumerixS Investment Technologies Inc bought a new position in shares of Boston Beer in the 4th quarter worth $72,000. Finally, Bank of Montreal Can increased its holdings in shares of Boston Beer by 19.8% in the 4th quarter. Bank of Montreal Can now owns 351 shares of the company’s stock worth $85,000 after buying an additional 58 shares during the last quarter. 74.34% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities research analysts have recently issued reports on SAM shares. Goldman Sachs Group cut shares of Boston Beer from a “neutral” rating to a “sell” rating and set a $275.79 price objective for the company. in a research note on Friday, April 5th. ValuEngine cut shares of Boston Beer from a “buy” rating to a “hold” rating in a research note on Friday, April 5th. Zacks Investment Research cut shares of Boston Beer from a “buy” rating to a “hold” rating in a research note on Tuesday, March 12th. Credit Suisse Group started coverage on shares of Boston Beer in a research note on Monday, June 10th. They issued a “neutral” rating and a $320.00 price objective for the company. Finally, Macquarie upped their price objective on shares of Boston Beer from $325.00 to $365.00 and gave the company a “neutral” rating in a research note on Friday, May 10th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company. Boston Beer has a consensus rating of “Hold” and a consensus price target of $296.83.

SAM traded up $3.13 during trading on Friday, hitting $386.51. 78,003 shares of the stock traded hands, compared to its average volume of 142,712. The company has a market cap of $4.51 billion, a price-to-earnings ratio of 51.74, a P/E/G ratio of 4.50 and a beta of 0.69. The company has a 50-day moving average price of $341.21. Boston Beer Company Inc has a 12-month low of $230.93 and a 12-month high of $392.50.

Boston Beer (NYSE:SAM) last announced its quarterly earnings results on Wednesday, April 24th. The company reported $1.87 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.98. The business had revenue of $252.00 million during the quarter, compared to analysts’ expectations of $232.19 million. Boston Beer had a net margin of 9.94% and a return on equity of 23.00%. The firm’s revenue for the quarter was up 32.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.55 EPS. Research analysts expect that Boston Beer Company Inc will post 8.59 earnings per share for the current fiscal year.

In other Boston Beer news, CEO David A. Burwick sold 5,105 shares of the stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $303.57, for a total transaction of $1,549,724.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP David L. Grinnell sold 500 shares of the stock in a transaction on Friday, May 10th. The shares were sold at an average price of $342.50, for a total transaction of $171,250.00. The disclosure for this sale can be found here. Insiders have sold a total of 7,105 shares of company stock valued at $2,230,975 in the last three months. 28.40% 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, and hard seltzers under the Samuel Adams, Twisted Tea, Angry Orchard Hard Cider, and Truly Hard Seltzer brand names.

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

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