Exchange Traded Concepts LLC Has $742,000 Stock Position in The Boston Beer Company, Inc. (NYSE:SAM)

Exchange Traded Concepts LLC lifted its stake in The Boston Beer Company, Inc. (NYSE:SAM) by 15.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,565 shares of the company’s stock after acquiring an additional 350 shares during the period. Exchange Traded Concepts LLC’s holdings in Boston Beer were worth $742,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of SAM. Mesirow Institutional Investment Management Inc. acquired a new stake in shares of Boston Beer in the second quarter worth $16,014,000. D. E. Shaw & Co. Inc. grew its stake in shares of Boston Beer by 80.0% in the second quarter. D. E. Shaw & Co. Inc. now owns 114,736 shares of the company’s stock worth $35,000,000 after acquiring an additional 51,003 shares during the last quarter. Jane Street Group LLC boosted its stake in Boston Beer by 171.8% during the first quarter. Jane Street Group LLC now owns 15,876 shares of the company’s stock worth $4,833,000 after buying an additional 37,985 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in Boston Beer by 190.6% during the second quarter. Assenagon Asset Management S.A. now owns 46,659 shares of the company’s stock worth $14,233,000 after buying an additional 30,601 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Boston Beer by 17.0% during the second quarter. Dimensional Fund Advisors LP now owns 182,972 shares of the company’s stock worth $55,814,000 after buying an additional 26,538 shares in the last quarter. Institutional investors and hedge funds own 81.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SAM. Royal Bank of Canada decreased 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 research note on Friday, July 26th. Piper Sandler decreased their price target on shares of Boston Beer from $344.00 to $325.00 and set an “overweight” rating on the stock in a research note on Friday, July 26th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Boston Beer from $273.00 to $283.00 and gave the stock a “hold” rating in a research note on Wednesday, July 17th. Finally, Roth Mkm decreased their price target 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. One research 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.com, the company has a consensus rating of “Hold” and a consensus price target of $326.92.

Boston Beer Stock Up 1.6 %

Boston Beer stock opened at $298.68 on Friday. The stock has a 50-day simple moving average of $277.42 and a 200 day simple moving average of $282.26. The Boston Beer Company, Inc. has a 12-month low of $254.40 and a 12-month high of $378.08. The stock has a market capitalization of $3.50 billion, a price-to-earnings ratio of 39.09, a P/E/G ratio of 1.12 and a beta of 1.06.

Boston Beer (NYSE:SAM) last released its quarterly earnings results on Thursday, July 25th. The company reported $4.39 earnings per share (EPS) 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 business had revenue of $579.10 million during the quarter, compared to the consensus estimate of $597.33 million. During the same period in the prior year, the firm earned $4.72 earnings per share. The business’s quarterly revenue was down 4.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Boston Beer Company, Inc. will post 9.65 EPS 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.