Neuberger Berman Group LLC Sells 6,550 Shares of Craft Brew Alliance, Inc. (BREW)
Neuberger Berman Group LLC cut its stake in shares of Craft Brew Alliance, Inc. (NASDAQ:BREW) by 4.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 140,400 shares of the company’s stock after selling 6,550 shares during the quarter. Neuberger Berman Group LLC owned approximately 0.73% of Craft Brew Alliance worth $2,464,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. The Manufacturers Life Insurance Company grew its holdings in shares of Craft Brew Alliance by 15.3% during the second quarter. The Manufacturers Life Insurance Company now owns 12,325 shares of the company’s stock valued at $207,000 after purchasing an additional 1,638 shares during the last quarter. Cornerstone Capital Management Holdings LLC. bought a new position in Craft Brew Alliance in the 3rd quarter worth approximately $248,000. Goldman Sachs Group Inc. grew its holdings in Craft Brew Alliance by 17.7% in the 2nd quarter. Goldman Sachs Group Inc. now owns 26,193 shares of the company’s stock worth $441,000 after buying an additional 3,937 shares in the last quarter. Schwab Charles Investment Management Inc. grew its holdings in Craft Brew Alliance by 54.4% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 27,800 shares of the company’s stock worth $372,000 after buying an additional 9,800 shares in the last quarter. Finally, TIAA CREF Investment Management LLC grew its holdings in Craft Brew Alliance by 3.4% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 32,878 shares of the company’s stock worth $554,000 after buying an additional 1,081 shares in the last quarter. 34.19% of the stock is owned by institutional investors.
A number of brokerages recently issued reports on BREW. Zacks Investment Research raised Craft Brew Alliance from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a report on Monday, November 13th. Stifel Nicolaus began coverage on Craft Brew Alliance in a report on Tuesday, December 5th. They issued a “hold” rating and a $19.00 price objective for the company. Cowen reissued a “buy” rating and issued a $20.00 price objective on shares of Craft Brew Alliance in a report on Thursday, October 19th. Susquehanna Bancshares set a $22.00 price objective on Craft Brew Alliance and gave the stock a “buy” rating in a report on Monday, December 11th. Finally, ValuEngine raised Craft Brew Alliance from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $20.75.
Craft Brew Alliance, Inc. (NASDAQ:BREW) opened at $19.20 on Friday. The stock has a market capitalization of $368.56, a P/E ratio of 173.64 and a beta of 0.47. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.56 and a quick ratio of 1.18. Craft Brew Alliance, Inc. has a fifty-two week low of $12.00 and a fifty-two week high of $20.10.
Craft Brew Alliance (NASDAQ:BREW) last released its earnings results on Wednesday, November 8th. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.03. The firm had revenue of $60.04 million during the quarter, compared to the consensus estimate of $57.13 million. Craft Brew Alliance had a return on equity of 1.79% and a net margin of 0.85%. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.03 earnings per share. analysts anticipate that Craft Brew Alliance, Inc. will post 0.12 earnings per share for the current fiscal year.
About Craft Brew Alliance
Craft Brew Alliance, Inc is a craft brewing company that is engaged in brewing, branding and bringing to market American craft beers. The Company operates through two segments: Beer Related operations, which include the brewing operations and related domestic and international beer and cider sales of its Kona, Widmer Brothers, Redhook and Omission beer brands, and Square Mile cider brand, and Pubs operations, which include its approximately five pubs, over four of which are located adjacent to its Beer Related operations, as well as other merchandise sales, and sales of its beers directly to customers.
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