Russell Investments Group Ltd. lifted its position in shares of Boston Beer Company Inc (NYSE:SAM) by 3.1% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 8,975 shares of the company’s stock after purchasing an additional 270 shares during the quarter. Russell Investments Group Ltd.’s holdings in Boston Beer were worth $2,688,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. CAPROCK Group Inc. acquired a new position in Boston Beer during the second quarter valued at approximately $219,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Boston Beer by 69.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 731 shares of the company’s stock valued at $219,000 after purchasing an additional 300 shares during the last quarter. Contravisory Investment Management Inc. acquired a new position in Boston Beer during the second quarter valued at approximately $221,000. Balasa Dinverno & Foltz LLC acquired a new position in Boston Beer during the second quarter valued at approximately $264,000. Finally, Campbell & CO Investment Adviser LLC acquired a new position in Boston Beer during the second quarter valued at approximately $298,000. 72.34% of the stock is owned by institutional investors.

SAM has been the subject of several recent research reports. Macquarie cut Boston Beer from a “neutral” rating to an “underperform” rating and set a $225.00 price target for the company. in a research report on Wednesday, July 25th. They noted that the move was a valuation call. Guggenheim initiated coverage on Boston Beer in a research report on Thursday, September 13th. They set a “buy” rating and a $381.00 price target for the company. Berenberg Bank set a $290.00 price target on Boston Beer and gave the company a “hold” rating in a research report on Tuesday, September 11th. Zacks Investment Research cut Boston Beer from a “buy” rating to a “hold” rating in a research report on Wednesday, June 27th. Finally, ValuEngine raised Boston Beer from a “hold” rating to a “buy” rating in a research report on Tuesday, May 29th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and one has given a buy rating to the company’s stock. Boston Beer presently has an average rating of “Hold” and an average price target of $258.85.

SAM opened at $297.70 on Friday. Boston Beer Company Inc has a 12-month low of $151.25 and a 12-month high of $329.95. The company has a market capitalization of $3.50 billion, a PE ratio of 48.41, a price-to-earnings-growth ratio of 4.42 and a beta of 0.72.

Boston Beer (NYSE:SAM) last released its quarterly earnings data on Thursday, July 26th. The company reported $1.98 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.77 by ($0.79). Boston Beer had a net margin of 10.39% and a return on equity of 17.21%. The business had revenue of $273.10 million during the quarter, compared to analyst estimates of $273.05 million. During the same period in the previous year, the business earned $2.35 earnings per share. The business’s quarterly revenue was up 10.2% on a year-over-year basis. sell-side analysts anticipate that Boston Beer Company Inc will post 7.09 EPS for the current year.

In other news, Chairman C James Koch sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 13th. The stock was sold at an average price of $318.68, for a total value of $3,186,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last ninety days, insiders sold 25,000 shares of company stock valued at $7,809,600. Insiders own 29.20% of the company’s stock.

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 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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Institutional Ownership by Quarter for Boston Beer (NYSE:SAM)

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