The Boston Beer Company, Inc. (NYSE:SAM) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC reduced its holdings in shares of The Boston Beer Company, Inc. (NYSE:SAM) by 47.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,200 shares of the company’s stock after selling 40,300 shares during the period. Renaissance Technologies LLC owned approximately 0.38% of Boston Beer worth $13,788,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. LRI Investments LLC acquired a new position in Boston Beer during the 1st quarter valued at approximately $28,000. Quarry LP purchased a new stake in Boston Beer during the 4th quarter valued at about $42,000. ORG Partners LLC purchased a new stake in Boston Beer during the 2nd quarter valued at about $48,000. Sachetta LLC raised its stake in shares of Boston Beer by 1,533.3% in the second quarter. Sachetta LLC now owns 245 shares of the company’s stock worth $68,000 after purchasing an additional 230 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale raised its stake in shares of Boston Beer by 61.3% in the second quarter. DekaBank Deutsche Girozentrale now owns 250 shares of the company’s stock worth $75,000 after purchasing an additional 95 shares during the last quarter. Institutional investors and hedge funds own 81.13% of the company’s stock.

Boston Beer Price Performance

Shares of NYSE:SAM opened at $269.60 on Monday. The business’s 50 day moving average price is $276.15 and its 200-day moving average price is $284.77. The Boston Beer Company, Inc. has a 1 year low of $254.40 and a 1 year high of $395.52. The firm has a market capitalization of $3.22 billion, a price-to-earnings ratio of 33.83, a price-to-earnings-growth ratio of 1.11 and a beta of 1.05.

Boston Beer (NYSE:SAM) last released its earnings results on Thursday, July 25th. The company reported $4.39 EPS 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 company 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 firm earned $4.72 EPS. The firm’s revenue for the quarter was down 4.0% on a year-over-year basis. On average, sell-side analysts expect that The Boston Beer Company, Inc. will post 9.65 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on SAM shares. Royal Bank of Canada cut their price target on shares of Boston Beer from $332.00 to $318.00 and set a “sector perform” rating on the stock in a report on Friday, July 26th. Roth Mkm reduced their target price 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 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. Deutsche Bank Aktiengesellschaft lifted their price objective on Boston Beer from $273.00 to $283.00 and gave the company a “hold” rating in a research note on Wednesday, July 17th. Finally, StockNews.com downgraded Boston Beer from a “buy” rating to a “hold” rating in a research note on Wednesday, June 12th. One equities 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 stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus 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.