The Boston Beer Company, Inc. (NYSE:SAM) Shares Acquired by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board grew its position in shares of The Boston Beer Company, Inc. (NYSE:SAM) by 8.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 48,300 shares of the company’s stock after purchasing an additional 3,700 shares during the period. Canada Pension Plan Investment Board owned 0.40% of Boston Beer worth $14,734,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

SAM has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Boston Beer from $273.00 to $283.00 and gave the company a “hold” rating in a report on Wednesday, July 17th. Royal Bank of Canada dropped their price objective on Boston Beer from $332.00 to $318.00 and set a “sector perform” rating for the company in a report on Friday, July 26th. Morgan Stanley upgraded 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. Piper Sandler dropped their price target on Boston Beer from $344.00 to $325.00 and set an “overweight” rating for the company in a research note on Friday, July 26th. Finally, StockNews.com lowered Boston Beer from a “buy” rating to a “hold” rating in a research note on Wednesday, June 12th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $326.92.

Boston Beer Stock Up 1.9 %

Shares of NYSE:SAM opened at $274.65 on Tuesday. The company has a 50 day moving average of $275.94 and a two-hundred day moving average of $284.60. The Boston Beer Company, Inc. has a 52-week low of $254.40 and a 52-week high of $395.52. The company has a market capitalization of $3.28 billion, a price-to-earnings ratio of 34.46, a price-to-earnings-growth ratio of 1.11 and a beta of 1.05.

Boston Beer (NYSE:SAM) last released 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 net margin of 4.39% and a return on equity of 9.69%. The firm had revenue of $579.10 million for the quarter, compared to analyst estimates of $597.33 million. During the same period in the previous year, the business posted $4.72 earnings per share. Boston Beer’s revenue for the quarter was down 4.0% on a year-over-year basis. On average, equities analysts anticipate that The Boston Beer Company, Inc. will post 9.65 earnings per share for the current 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.