Thrivent Financial for Lutherans Cuts Stake in The Boston Beer Company, Inc. (NYSE:SAM)

Thrivent Financial for Lutherans lowered its stake in shares of The Boston Beer Company, Inc. (NYSE:SAM) by 6.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,209 shares of the company’s stock after selling 149 shares during the period. Thrivent Financial for Lutherans’ holdings in Boston Beer were worth $674,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. LRI Investments LLC purchased a new stake in Boston Beer during the 1st quarter valued at about $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 grew its stake in 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 in the last quarter. Finally, DekaBank Deutsche Girozentrale grew its stake in Boston Beer by 61.3% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 250 shares of the company’s stock valued at $75,000 after acquiring an additional 95 shares in the last quarter. Hedge funds and other institutional investors own 81.13% of the company’s stock.

Boston Beer Stock Performance

Shares of Boston Beer stock opened at $271.44 on Tuesday. The Boston Beer Company, Inc. has a 1 year low of $254.40 and a 1 year high of $378.08. The company has a market capitalization of $3.24 billion, a P/E ratio of 34.06, a PEG ratio of 1.16 and a beta of 1.06. The company’s fifty day moving average is $276.03 and its two-hundred day moving average is $283.54.

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

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Royal Bank of Canada dropped their price objective on shares of Boston Beer from $332.00 to $318.00 and set a “sector perform” rating for the company in a research note on Friday, July 26th. 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. StockNews.com lowered shares of Boston Beer from a “buy” rating to a “hold” rating in a report on Wednesday, June 12th. Piper Sandler decreased their target price on shares of Boston Beer from $344.00 to $325.00 and set an “overweight” rating on the stock in a report on Friday, July 26th. Finally, Roth Mkm decreased their target price on shares of Boston Beer from $395.00 to $389.00 and set a “buy” rating on the stock in a report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $326.92.

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.