Armistice Capital LLC Increases Position in The Boston Beer Company, Inc. (NYSE:SAM)

Armistice Capital LLC increased its holdings in The Boston Beer Company, Inc. (NYSE:SAM) by 1.1% during the 2nd quarter, HoldingsChannel reports. The fund owned 97,292 shares of the company’s stock after acquiring an additional 1,093 shares during the quarter. Armistice Capital LLC’s holdings in Boston Beer were worth $29,679,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Gilbert & Cook Inc. raised its holdings in Boston Beer by 8.3% in the fourth quarter. Gilbert & Cook Inc. now owns 1,204 shares of the company’s stock valued at $416,000 after acquiring an additional 92 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Boston Beer by 5.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 142,014 shares of the company’s stock valued at $49,080,000 after purchasing an additional 7,615 shares in the last quarter. Norges Bank bought a new position in shares of Boston Beer during the fourth quarter worth about $13,879,000. Quest Partners LLC acquired a new position in Boston Beer in the fourth quarter worth about $129,000. Finally, Franklin Resources Inc. grew its stake in Boston Beer by 299.4% in the fourth quarter. Franklin Resources Inc. now owns 2,648 shares of the company’s stock worth $915,000 after purchasing an additional 1,985 shares in the last quarter. Hedge funds and other institutional investors own 81.13% of the company’s stock.

Analyst Ratings Changes

SAM has been the topic of several research reports. Morgan Stanley upgraded Boston Beer from an “underweight” rating to an “equal weight” rating and set a $290.00 price objective on the stock in a research note on Wednesday, June 5th. Royal Bank of Canada dropped their price target on Boston Beer from $332.00 to $318.00 and set a “sector perform” rating on the stock in a research report on Friday, July 26th. Piper Sandler reduced their price objective on Boston Beer from $344.00 to $325.00 and set an “overweight” rating on the stock in a research note on Friday, July 26th. Roth Mkm lowered their target price on shares of Boston Beer from $395.00 to $389.00 and set a “buy” rating for the company in a research note on Friday, July 26th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Boston Beer from $273.00 to $283.00 and gave the stock a “hold” rating in a report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $326.92.

Boston Beer Trading Down 2.0 %

SAM opened at $270.82 on Thursday. The Boston Beer Company, Inc. has a twelve month low of $254.40 and a twelve month high of $395.52. The stock has a market cap of $3.24 billion, a PE ratio of 33.98, a price-to-earnings-growth ratio of 1.12 and a beta of 1.05. The business’s 50 day moving average is $275.41 and its 200-day moving average is $284.35.

Boston Beer (NYSE:SAM) last announced 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). The business had revenue of $579.10 million for the quarter, compared to analyst estimates of $597.33 million. Boston Beer had a return on equity of 9.69% and a net margin of 4.39%. The company’s revenue was down 4.0% compared to the same quarter last year. During the same quarter last year, the firm posted $4.72 EPS. As a group, analysts forecast 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.