California Public Employees Retirement System Has $2.42 Million Stake in Boston Beer Company Inc (SAM)
California Public Employees Retirement System grew its stake in shares of Boston Beer Company Inc (NYSE:SAM) by 17.1% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 12,650 shares of the company’s stock after acquiring an additional 1,850 shares during the period. California Public Employees Retirement System’s holdings in Boston Beer were worth $2,417,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in SAM. Endurance Wealth Management Inc. bought a new stake in shares of Boston Beer during the fourth quarter valued at about $134,000. Huntington National Bank increased its position in shares of Boston Beer by 173.9% in the fourth quarter. Huntington National Bank now owns 775 shares of the company’s stock worth $148,000 after purchasing an additional 492 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of Boston Beer in the third quarter worth approximately $203,000. Macquarie Group Ltd. bought a new position in shares of Boston Beer in the third quarter worth approximately $219,000. Finally, Van Hulzen Asset Management LLC bought a new position in shares of Boston Beer in the third quarter worth approximately $236,000. Hedge funds and other institutional investors own 73.16% of the company’s stock.
SAM has been the topic of several research analyst reports. BMO Capital Markets initiated coverage on shares of Boston Beer in a research report on Monday, February 5th. They issued a “market perform” rating and a $180.00 price objective on the stock. Berenberg Bank upgraded shares of Boston Beer from a “sell” rating to a “hold” rating in a research report on Monday, December 18th. ValuEngine cut shares of Boston Beer from a “hold” rating to a “sell” rating in a research report on Thursday, March 1st. Jefferies Group restated a “hold” rating and issued a $175.00 price objective on shares of Boston Beer in a research report on Thursday, January 4th. Finally, Macquarie upgraded shares of Boston Beer from an “underperform” rating to a “neutral” rating and set a $140.00 price objective on the stock in a research report on Thursday, February 8th. Three research analysts have rated the stock with a sell rating and twelve have assigned a hold rating to the company. Boston Beer currently has an average rating of “Hold” and an average target price of $161.33.
Boston Beer (NYSE:SAM) last issued its earnings results on Wednesday, February 21st. The company reported $0.85 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.03. The business had revenue of $206.32 million during the quarter, compared to analyst estimates of $206.46 million. Boston Beer had a return on equity of 18.55% and a net margin of 11.04%. Boston Beer’s revenue for the quarter was down 5.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.75 earnings per share. analysts predict that Boston Beer Company Inc will post 6.72 earnings per share for the current fiscal year.
In other Boston Beer news, Director David A. Burwick sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $190.01, for a total value of $950,050.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP David L. Grinnell sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 26th. The stock was sold at an average price of $195.00, for a total value of $195,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 105,459 shares of company stock valued at $19,965,416. 28.50% of the stock is owned by insiders.
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About Boston Beer
The Boston Beer Company, Inc is a craft brewer in the United States. The Company is engaged in the business of producing and selling alcohol beverages primarily in the domestic market and in selected international markets. The Company operates through two segments: Boston Beer Company segment, and A&S Brewing Collaborative segment.
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