Boston Beer Company Inc (SAM) Shares Bought by Macquarie Group Ltd.
Macquarie Group Ltd. lifted its position in Boston Beer Company Inc (NYSE:SAM) by 30,313.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 182,480 shares of the company’s stock after purchasing an additional 181,880 shares during the quarter. Macquarie Group Ltd. owned about 1.55% of Boston Beer worth $54,689,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Jennison Associates LLC bought a new position in Boston Beer in the second quarter valued at $397,000. Bessemer Group Inc. increased its stake in Boston Beer by 5.5% in the second quarter. Bessemer Group Inc. now owns 7,700 shares of the company’s stock valued at $2,308,000 after acquiring an additional 400 shares during the last quarter. State Board of Administration of Florida Retirement System increased its stake in Boston Beer by 38.5% in the second quarter. State Board of Administration of Florida Retirement System now owns 4,996 shares of the company’s stock valued at $1,497,000 after acquiring an additional 1,390 shares during the last quarter. Contravisory Investment Management Inc. bought a new position in Boston Beer in the second quarter valued at $221,000. Finally, Grimes & Company Inc. bought a new position in Boston Beer in the second quarter valued at $313,000. 72.34% of the stock is currently owned by hedge funds and other institutional investors.
NYSE SAM opened at $313.55 on Friday. Boston Beer Company Inc has a 12-month low of $150.57 and a 12-month high of $329.95. The stock has a market cap of $3.80 billion, a price-to-earnings ratio of 52.17, a price-to-earnings-growth ratio of 4.80 and a beta of 0.72.
Several analysts have issued reports on the stock. Guggenheim assumed coverage on shares of Boston Beer in a research report on Thursday. They set a “buy” rating for the company. Berenberg Bank set a $290.00 price target on shares of Boston Beer and gave the company a “hold” rating in a research report on Tuesday. Zacks Investment Research lowered shares of Boston Beer from a “buy” rating to a “hold” rating in a research report on Monday. ValuEngine lowered shares of Boston Beer from a “buy” rating to a “hold” rating in a research report on Saturday, July 28th. Finally, Royal Bank of Canada restated a “neutral” rating and set a $210.00 price target on shares of Boston Beer in a research report on Friday, July 27th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and one has given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $248.67.
In other news, Chairman C James Koch sold 10,000 shares of the stock in a transaction dated Thursday, September 13th. The shares were sold at an average price of $318.68, for a total transaction of $3,186,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 29.20% of the company’s stock.
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 sells approximately 60 beers under the Samuel Adams brand names; 10 flavored malt beverages under the Twisted Tea brand name; 20 hard cider beverages under the Angry Orchard brand; 5 hard sparkling waters under the Truly Spiked & Sparkling brand name; and approximately 50 beers under 4 brand names.
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