Seven Eight Capital LP Trims Stock Holdings in The Boston Beer Company, Inc. (NYSE:SAM)

Seven Eight Capital LP trimmed its holdings in The Boston Beer Company, Inc. (NYSE:SAM) by 40.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,966 shares of the company’s stock after selling 1,974 shares during the period. Seven Eight Capital LP’s holdings in Boston Beer were worth $905,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. LRI Investments LLC acquired a new stake in Boston Beer in the first quarter valued at $28,000. Quarry LP bought a new position in shares of Boston Beer during the fourth quarter worth about $42,000. ORG Partners LLC acquired a new position in Boston Beer in the second quarter worth about $48,000. Sachetta LLC increased its holdings in Boston Beer by 1,533.3% in the second quarter. Sachetta LLC now owns 245 shares of the company’s stock valued at $68,000 after buying an additional 230 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale raised its stake in Boston Beer by 61.3% during the second quarter. DekaBank Deutsche Girozentrale now owns 250 shares of the company’s stock valued at $75,000 after buying an additional 95 shares in the last quarter. 81.13% of the stock is currently owned by hedge funds and other institutional investors.

Boston Beer Price Performance

Shares of Boston Beer stock opened at $269.40 on Friday. The Boston Beer Company, Inc. has a 1-year low of $254.40 and a 1-year high of $395.52. The company has a market capitalization of $3.22 billion, a P/E ratio of 33.83, a PEG ratio of 1.11 and a beta of 1.05. The business’s fifty day moving average price is $276.54 and its two-hundred day moving average price is $285.14.

Boston Beer (NYSE:SAM) last posted its quarterly earnings data on Thursday, July 25th. The company reported $4.39 earnings per share for the quarter, missing the consensus estimate of $4.99 by ($0.60). The company had revenue of $579.10 million during the quarter, compared to analyst estimates 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 period in the previous year, the company earned $4.72 EPS. On average, research analysts expect that The Boston Beer Company, Inc. will post 9.65 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on SAM shares. Piper Sandler lowered their price target on Boston Beer from $344.00 to $325.00 and set an “overweight” rating for the company in a report on Friday, July 26th. StockNews.com cut shares of Boston Beer from a “buy” rating to a “hold” rating in a report on Wednesday, June 12th. Roth Mkm decreased their price target on shares of Boston Beer from $395.00 to $389.00 and set a “buy” rating for the company in a report on Friday, July 26th. Morgan Stanley upgraded shares of Boston Beer from an “underweight” rating to an “equal weight” rating and set a $290.00 price objective on the stock in a research note on Wednesday, June 5th. Finally, Royal Bank of Canada decreased their target price on Boston Beer from $332.00 to $318.00 and set a “sector perform” rating for the company in a research note on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Boston Beer has an average rating of “Hold” and a consensus price target of $326.92.

Boston Beer Company 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.