American Century Companies Inc. Sells 6,579 Shares of The Boston Beer Company, Inc. (NYSE:SAM)

American Century Companies Inc. lowered its position in shares of The Boston Beer Company, Inc. (NYSE:SAM) by 13.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,078 shares of the company’s stock after selling 6,579 shares during the period. American Century Companies Inc. owned approximately 0.34% of Boston Beer worth $12,531,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SAM. Vanguard Group Inc. raised its stake in shares of Boston Beer by 2.3% in the fourth quarter. Vanguard Group Inc. now owns 918,502 shares of the company’s stock worth $317,425,000 after purchasing an additional 21,060 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Boston Beer by 5.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 142,014 shares of the company’s stock worth $49,080,000 after buying an additional 7,615 shares during the last quarter. Bank of New York Mellon Corp raised its position in Boston Beer by 8.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 133,486 shares of the company’s stock worth $40,720,000 after buying an additional 9,997 shares during the last quarter. Armistice Capital LLC bought a new position in Boston Beer during the 4th quarter valued at about $21,499,000. Finally, Mesirow Institutional Investment Management Inc. purchased a new stake in shares of Boston Beer during the 2nd quarter valued at about $16,014,000. 81.13% of the stock is owned by institutional investors.

Boston Beer Trading Down 2.1 %

Boston Beer stock opened at $269.60 on Friday. The Boston Beer Company, Inc. has a 12-month low of $254.40 and a 12-month high of $395.52. The firm has a market capitalization of $3.22 billion, a price-to-earnings ratio of 33.83, a P/E/G ratio of 1.11 and a beta of 1.05. The firm has a 50 day moving average of $276.15 and a 200 day moving average of $284.85.

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

Wall Street Analyst Weigh In

SAM has been the topic of a number of research analyst reports. Royal Bank of Canada lowered their price objective on shares of Boston Beer from $332.00 to $318.00 and set a “sector perform” rating on the stock in a research report on Friday, July 26th. 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 report on Wednesday, June 5th. StockNews.com lowered Boston Beer from a “buy” rating to a “hold” rating in a report on Wednesday, June 12th. Deutsche Bank Aktiengesellschaft increased their target price on Boston Beer from $273.00 to $283.00 and gave the company a “hold” rating in a report on Wednesday, July 17th. Finally, Piper Sandler cut their price target on Boston Beer from $344.00 to $325.00 and set an “overweight” rating for the company in a research note on Friday, July 26th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $326.92.

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.