The Manufacturers Life Insurance Company Has $2.38 Million Stock Position in The Boston Beer Company, Inc. (NYSE:SAM)

The Manufacturers Life Insurance Company lowered its holdings in shares of The Boston Beer Company, Inc. (NYSE:SAM) by 3.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,801 shares of the company’s stock after selling 286 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.07% of Boston Beer worth $2,380,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. D. E. Shaw & Co. Inc. boosted its holdings in 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 in the last quarter. Armistice Capital LLC boosted its holdings in Boston Beer by 1.1% in the second quarter. Armistice Capital LLC now owns 97,292 shares of the company’s stock worth $29,679,000 after acquiring an additional 1,093 shares in the last quarter. Gabelli Funds LLC boosted its holdings in Boston Beer by 12.3% in the second quarter. Gabelli Funds LLC now owns 18,750 shares of the company’s stock worth $5,720,000 after acquiring an additional 2,050 shares in the last quarter. Sei Investments Co. boosted its holdings in Boston Beer by 64.8% in the second quarter. Sei Investments Co. now owns 4,254 shares of the company’s stock worth $1,298,000 after acquiring an additional 1,673 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its holdings in Boston Beer by 8.3% in the second quarter. Canada Pension Plan Investment Board now owns 48,300 shares of the company’s stock worth $14,734,000 after acquiring an additional 3,700 shares in the last quarter. Institutional investors and hedge funds own 81.13% of the company’s stock.

Boston Beer Price Performance

Shares of SAM opened at $270.19 on Thursday. The firm has a market cap of $3.17 billion, a PE ratio of 33.90, a PEG ratio of 1.14 and a beta of 1.06. The stock’s fifty day moving average price is $275.68 and its two-hundred day moving average price is $283.20. The Boston Beer Company, Inc. has a 1 year low of $254.40 and a 1 year high of $378.08.

Boston Beer (NYSE:SAM) last issued its earnings results on Thursday, July 25th. The company reported $4.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.99 by ($0.60). The firm had revenue of $579.10 million during 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 quarterly revenue was down 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.72 earnings per share. Sell-side analysts anticipate that The Boston Beer Company, Inc. will post 9.65 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SAM. Roth Mkm dropped their target price on Boston Beer from $395.00 to $389.00 and set a “buy” rating on the stock in a report on Friday, July 26th. Deutsche Bank Aktiengesellschaft raised their target price on 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 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. Piper Sandler decreased their price target on Boston Beer from $344.00 to $325.00 and set an “overweight” rating for the company in a research report on Friday, July 26th. Finally, StockNews.com downgraded Boston Beer from a “buy” rating to a “hold” rating in a research report on Wednesday, June 12th. One analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Boston Beer presently has an average rating of “Hold” and an average price target of $326.92.

About Boston Beer

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.