Federated Hermes Inc. Sells 98 Shares of The Boston Beer Company, Inc. (NYSE:SAM)

Federated Hermes Inc. reduced its stake in shares of The Boston Beer Company, Inc. (NYSE:SAM) by 6.7% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 1,371 shares of the company’s stock after selling 98 shares during the period. Federated Hermes Inc.’s holdings in Boston Beer were worth $418,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. LRI Investments LLC purchased a new stake in Boston Beer in the 1st quarter valued at $28,000. Seven Eight Capital LP lifted its position in shares of Boston Beer by 160.0% during the first quarter. Seven Eight Capital LP now owns 4,940 shares of the company’s stock valued at $1,504,000 after purchasing an additional 3,040 shares in the last quarter. Natixis purchased a new position in Boston Beer during the first quarter worth about $3,044,000. Commerce Bank purchased a new position in Boston Beer during the fourth quarter worth about $402,000. Finally, Gamco Investors INC. ET AL grew its position in Boston Beer by 16.9% in the 1st quarter. Gamco Investors INC. ET AL now owns 13,333 shares of the company’s stock worth $4,059,000 after purchasing an additional 1,925 shares in the last quarter. 81.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SAM. Roth Mkm reduced their target price on Boston Beer from $395.00 to $389.00 and set a “buy” rating for the company in a report on Friday, July 26th. Deutsche Bank Aktiengesellschaft raised their target price on Boston Beer from $273.00 to $283.00 and gave the company a “hold” rating in a research report on Wednesday, July 17th. Morgan Stanley raised shares of 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 downgraded shares of Boston Beer from a “buy” rating to a “hold” rating in a report on Wednesday, June 12th. Finally, Royal Bank of Canada dropped their target price on shares of Boston Beer from $332.00 to $318.00 and set a “sector perform” rating on the stock in a research note on Friday, July 26th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $326.92.

Boston Beer Stock Up 1.9 %

SAM stock opened at $274.65 on Tuesday. The Boston Beer Company, Inc. has a twelve month low of $254.40 and a twelve month high of $395.52. The firm has a market capitalization of $3.28 billion, a PE ratio of 34.46, a PEG ratio of 1.11 and a beta of 1.05. The stock has a 50-day simple moving average of $275.94 and a two-hundred day simple moving average of $284.60.

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