Magnetar Financial LLC Has $3.44 Million Holdings in The Boston Beer Company, Inc. $SAM

Magnetar Financial LLC grew its position in The Boston Beer Company, Inc. (NYSE:SAM) by 1,704.8% in the second quarter, according to its most recent filing with the SEC. The fund owned 18,012 shares of the company’s stock after acquiring an additional 17,014 shares during the period. Magnetar Financial LLC owned 0.16% of Boston Beer worth $3,437,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Envestnet Asset Management Inc. increased its holdings in Boston Beer by 47.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 7,917 shares of the company’s stock worth $1,891,000 after purchasing an additional 2,531 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Boston Beer by 4.6% during the first quarter. Victory Capital Management Inc. now owns 2,226 shares of the company’s stock worth $532,000 after purchasing an additional 98 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Boston Beer in the first quarter valued at approximately $1,952,000. Cetera Investment Advisers raised its holdings in Boston Beer by 10.5% in the 1st quarter. Cetera Investment Advisers now owns 1,402 shares of the company’s stock valued at $335,000 after buying an additional 133 shares during the last quarter. Finally, Mackenzie Financial Corp raised its holdings in Boston Beer by 17.2% in the 1st quarter. Mackenzie Financial Corp now owns 1,625 shares of the company’s stock valued at $388,000 after buying an additional 239 shares during the last quarter. Institutional investors and hedge funds own 81.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SAM. Sanford C. Bernstein set a $230.00 target price on shares of Boston Beer and gave the stock a “market perform” rating in a report on Monday, July 28th. Citigroup lowered shares of Boston Beer from a “buy” rating to a “neutral” rating and cut their price target for the stock from $255.00 to $235.00 in a report on Monday, October 6th. Weiss Ratings restated a “sell (d+)” rating on shares of Boston Beer in a report on Wednesday, October 8th. Jefferies Financial Group lowered their target price on Boston Beer from $230.00 to $225.00 and set a “hold” rating for the company in a research report on Tuesday, September 30th. Finally, Piper Sandler reduced their price target on Boston Beer from $230.00 to $220.00 and set a “neutral” rating on the stock in a research report on Friday. One equities research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $249.74.

Insider Buying and Selling

In related news, Director Michael Spillane sold 3,120 shares of the firm’s stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $205.78, for a total transaction of $642,033.60. Following the completion of the sale, the director owned 10,877 shares of the company’s stock, valued at $2,238,269.06. This trade represents a 22.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 26.10% of the stock is owned by corporate insiders.

Boston Beer Stock Up 1.6%

SAM opened at $195.97 on Friday. The Boston Beer Company, Inc. has a twelve month low of $185.34 and a twelve month high of $323.98. The company has a fifty day moving average of $213.77 and a 200-day moving average of $215.13. The stock has a market cap of $2.09 billion, a PE ratio of 23.11, a price-to-earnings-growth ratio of 1.85 and a beta of 0.91.

Boston Beer (NYSE:SAM) last released its earnings results on Thursday, October 23rd. The company reported $4.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.78 by $0.47. Boston Beer had a net margin of 4.38% and a return on equity of 12.29%. The business had revenue of $537.49 million for the quarter, compared to analyst estimates of $542.97 million. During the same quarter in the previous year, the business earned $2.86 earnings per share. Boston Beer’s revenue for the quarter was down 11.2% on a year-over-year basis. Boston Beer has set its FY 2025 guidance at 7.800-9.800 EPS. Sell-side analysts anticipate that The Boston Beer Company, Inc. will post 9.29 EPS for the current fiscal year.

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.