Edgestream Partners L.P. Acquires Shares of 986 The Boston Beer Company, Inc. (NYSE:SAM)

Edgestream Partners L.P. acquired a new stake in shares of The Boston Beer Company, Inc. (NYSE:SAM) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 986 shares of the company’s stock, valued at approximately $301,000.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its holdings in Boston Beer by 17.0% during the second quarter. Dimensional Fund Advisors LP now owns 182,972 shares of the company’s stock valued at $55,814,000 after purchasing an additional 26,538 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in Boston Beer by 18.7% during the second quarter. Oppenheimer Asset Management Inc. now owns 4,933 shares of the company’s stock valued at $1,505,000 after purchasing an additional 778 shares in the last quarter. Thoroughbred Financial Services LLC acquired a new position in shares of Boston Beer in the 2nd quarter worth approximately $228,000. DekaBank Deutsche Girozentrale boosted its holdings in shares of Boston Beer by 61.3% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 250 shares of the company’s stock worth $75,000 after acquiring an additional 95 shares in the last quarter. Finally, Cornercap Investment Counsel Inc. boosted its holdings in shares of Boston Beer by 213.9% in the 2nd quarter. Cornercap Investment Counsel Inc. now owns 3,895 shares of the company’s stock worth $1,188,000 after acquiring an additional 2,654 shares in the last quarter. 81.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SAM has been the topic of several recent analyst reports. Piper Sandler reduced 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 boosted their target price on Boston Beer from $273.00 to $283.00 and gave the stock a “hold” rating in a report on Wednesday, July 17th. Royal Bank of Canada reduced their target price on Boston Beer from $332.00 to $318.00 and set a “sector perform” rating on the stock in a report on Friday, July 26th. Morgan Stanley raised Boston Beer from an “underweight” rating to an “equal weight” rating and set a $290.00 target price on the stock in a report on Wednesday, June 5th. 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 investment analyst has rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Boston Beer currently has a consensus rating of “Hold” and a consensus price target of $326.92.

Boston Beer Stock Performance

Shares of Boston Beer stock opened at $274.65 on Tuesday. The firm has a fifty day moving average of $275.94 and a two-hundred day moving average of $284.60. The stock has a market capitalization of $3.28 billion, a price-to-earnings ratio of 34.46, a PEG ratio of 1.11 and a beta of 1.05. The Boston Beer Company, Inc. has a 52 week low of $254.40 and a 52 week high of $395.52.

Boston Beer (NYSE:SAM) last issued its earnings results on Thursday, July 25th. The company reported $4.39 EPS for the quarter, missing the consensus estimate of $4.99 by ($0.60). The business 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 business’s revenue was down 4.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.72 EPS. As a group, research analysts forecast that The Boston Beer Company, Inc. will post 9.65 EPS for the current fiscal year.

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.