Victory Capital Management Inc. Lowers Stock Position in The Boston Beer Company, Inc. (NYSE:SAM)

Victory Capital Management Inc. trimmed its holdings in shares of The Boston Beer Company, Inc. (NYSE:SAM) by 2.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,230 shares of the company’s stock after selling 57 shares during the period. Victory Capital Management Inc.’s holdings in Boston Beer were worth $680,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of SAM. LRI Investments LLC acquired a new stake in Boston Beer in the first quarter valued at $28,000. Quarry LP acquired a new stake in shares of Boston Beer in the fourth quarter valued at about $42,000. ORG Partners LLC purchased a new stake in Boston Beer during the second quarter worth about $48,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Boston Beer during the first quarter worth about $111,000. Finally, Headlands Technologies LLC purchased a new position in Boston Beer in the first quarter valued at about $114,000. 81.13% of the stock is currently owned by hedge funds and other institutional investors.

Boston Beer Price Performance

NYSE:SAM opened at $269.60 on Friday. The firm has a market cap of $3.22 billion, a PE ratio of 33.83, a P/E/G ratio of 1.11 and a beta of 1.05. The firm has a 50 day simple moving average of $276.15 and a 200-day simple moving average of $284.85. The Boston Beer Company, Inc. has a 1-year low of $254.40 and a 1-year high of $395.52.

Boston Beer (NYSE:SAM) last issued its quarterly 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). Boston Beer had a return on equity of 9.69% and a net margin of 4.39%. The business had revenue of $579.10 million for the quarter, compared to analysts’ expectations of $597.33 million. During the same period in the prior year, the company earned $4.72 EPS. The company’s revenue for the quarter was down 4.0% compared to the same quarter last year. As a group, sell-side analysts expect that The Boston Beer Company, Inc. will post 9.65 earnings per share for the current fiscal year.

Analyst Ratings Changes

SAM has been the topic of several research analyst reports. Royal Bank of Canada decreased their price target on 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. Piper Sandler lowered their target price on Boston Beer from $344.00 to $325.00 and set an “overweight” rating on the stock in a report on Friday, July 26th. Deutsche Bank Aktiengesellschaft lifted their price target on Boston Beer from $273.00 to $283.00 and gave the stock a “hold” rating in a research note on Wednesday, July 17th. Roth Mkm lowered their price objective on shares of Boston Beer from $395.00 to $389.00 and set a “buy” rating on the stock in a research note on Friday, July 26th. 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 equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target 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.