Oppenheimer Asset Management Inc. Has $1.51 Million Holdings in The Boston Beer Company, Inc. (NYSE:SAM)

Oppenheimer Asset Management Inc. raised its position in shares of The Boston Beer Company, Inc. (NYSE:SAM) by 18.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,933 shares of the company’s stock after acquiring an additional 778 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Boston Beer were worth $1,505,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Envestnet Portfolio Solutions Inc. boosted its stake in Boston Beer by 5.7% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 609 shares of the company’s stock valued at $210,000 after purchasing an additional 33 shares during the period. Treasurer of the State of North Carolina lifted its holdings in shares of Boston Beer by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 4,167 shares of the company’s stock worth $1,440,000 after buying an additional 40 shares in the last quarter. Los Angeles Capital Management LLC boosted its position in shares of Boston Beer by 0.5% in the second quarter. Los Angeles Capital Management LLC now owns 14,729 shares of the company’s stock valued at $4,493,000 after acquiring an additional 74 shares during the period. Gagnon Securities LLC grew its stake in shares of Boston Beer by 0.5% in the first quarter. Gagnon Securities LLC now owns 16,893 shares of the company’s stock valued at $5,143,000 after acquiring an additional 80 shares in the last quarter. Finally, Gilbert & Cook Inc. increased its position in Boston Beer by 8.3% during the fourth quarter. Gilbert & Cook Inc. now owns 1,204 shares of the company’s stock worth $416,000 after acquiring an additional 92 shares during the period. Institutional investors and hedge funds own 81.13% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on SAM. Morgan Stanley upgraded shares of Boston Beer from an “underweight” rating to an “equal weight” rating and set a $290.00 target price on the stock in a research report on Wednesday, June 5th. Roth Mkm lowered their price objective on Boston Beer from $395.00 to $389.00 and set a “buy” rating on the stock in a research note on Friday, July 26th. Piper Sandler cut their target price on Boston Beer from $344.00 to $325.00 and set an “overweight” rating for the company in a research report on Friday, July 26th. Deutsche Bank Aktiengesellschaft raised their price target on Boston Beer from $273.00 to $283.00 and gave the stock a “hold” rating in a research report on Wednesday, July 17th. Finally, StockNews.com cut shares of Boston Beer from a “buy” rating to a “hold” rating in a research report on Wednesday, June 12th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, Boston Beer presently has an average rating of “Hold” and a consensus price target of $326.92.

Boston Beer Trading Down 0.5 %

Shares of SAM stock opened at $274.85 on Thursday. The firm has a market capitalization of $3.22 billion, a price-to-earnings ratio of 34.59, a PEG ratio of 1.10 and a beta of 1.05. The business’s 50-day moving average price is $276.99 and its 200-day moving average price is $285.28. The Boston Beer Company, Inc. has a 12 month low of $254.40 and a 12 month high of $395.52.

Boston Beer (NYSE:SAM) last posted its earnings results on Thursday, July 25th. The company reported $4.39 earnings per share for the quarter, missing analysts’ consensus estimates of $4.99 by ($0.60). The business had revenue of $579.10 million for the quarter, compared to the consensus estimate of $597.33 million. Boston Beer had a return on equity of 9.69% and a net margin of 4.39%. The company’s revenue was down 4.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.72 earnings per share. On average, sell-side analysts predict that The Boston Beer Company, Inc. will post 9.65 earnings per share for the current fiscal year.

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.