Raymond James Financial Services Advisors Inc. Reduces Stake in The Boston Beer Company, Inc. (NYSE:SAM)

Raymond James Financial Services Advisors Inc. cut its stake in shares of The Boston Beer Company, Inc. (NYSE:SAM) by 7.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 695 shares of the company’s stock after selling 58 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Boston Beer were worth $240,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. National Bank of Canada FI boosted its stake in shares of Boston Beer by 20.5% during the 3rd quarter. National Bank of Canada FI now owns 664 shares of the company’s stock worth $259,000 after purchasing an additional 113 shares during the period. CWM LLC boosted its position in shares of Boston Beer by 264.2% during the third quarter. CWM LLC now owns 193 shares of the company’s stock valued at $75,000 after buying an additional 140 shares during the period. Global Retirement Partners LLC grew its stake in shares of Boston Beer by 262.3% during the third quarter. Global Retirement Partners LLC now owns 279 shares of the company’s stock valued at $106,000 after buying an additional 202 shares during the last quarter. HGK Asset Management Inc. raised its holdings in shares of Boston Beer by 19.3% in the third quarter. HGK Asset Management Inc. now owns 1,597 shares of the company’s stock worth $622,000 after buying an additional 258 shares during the period. Finally, Mission Wealth Management LP bought a new stake in shares of Boston Beer during the 3rd quarter worth approximately $227,000. 81.13% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SAM. Piper Sandler assumed coverage on Boston Beer in a research note on Friday, March 22nd. They issued an “overweight” rating and a $350.00 target price on the stock. Citigroup lowered their price objective on shares of Boston Beer from $350.00 to $315.00 and set a “neutral” rating for the company in a research report on Tuesday, April 16th. The Goldman Sachs Group reduced their target price on shares of Boston Beer from $257.00 to $250.00 and set a “sell” rating on the stock in a research report on Tuesday, April 9th. Sanford C. Bernstein upgraded Boston Beer from an “underperform” rating to a “market perform” rating and boosted their price target for the company from $280.00 to $335.00 in a report on Tuesday, January 16th. Finally, UBS Group reduced their price objective on Boston Beer from $390.00 to $355.00 and set a “neutral” rating on the stock in a report on Wednesday, February 28th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $334.86.

Insiders Place Their Bets

In related news, insider Carolyn L. O’boyle sold 101 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $303.49, for a total value of $30,652.49. Following the completion of the transaction, the insider now directly owns 7,029 shares of the company’s stock, valued at approximately $2,133,231.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Boston Beer news, insider Carolyn L. O’boyle sold 102 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $350.72, for a total transaction of $35,773.44. Following the sale, the insider now owns 2,630 shares in the company, valued at approximately $922,393.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Carolyn L. O’boyle sold 101 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $303.49, for a total value of $30,652.49. Following the completion of the transaction, the insider now directly owns 7,029 shares in the company, valued at $2,133,231.21. The disclosure for this sale can be found here. Corporate insiders own 24.00% of the company’s stock.

Boston Beer Stock Performance

NYSE:SAM opened at $286.10 on Wednesday. The company’s 50-day simple moving average is $307.69 and its 200-day simple moving average is $334.76. The Boston Beer Company, Inc. has a fifty-two week low of $274.78 and a fifty-two week high of $395.52. The stock has a market capitalization of $3.44 billion, a P/E ratio of 46.15, a P/E/G ratio of 1.17 and a beta of 1.02.

Boston Beer (NYSE:SAM) last announced its earnings results on Tuesday, February 27th. The company reported ($1.49) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($1.27). Boston Beer had a net margin of 3.61% and a return on equity of 8.13%. The firm had revenue of $393.72 million during the quarter, compared to analyst estimates of $413.57 million. During the same quarter last year, the business earned ($0.93) earnings per share. Boston Beer’s revenue was down 12.0% on a year-over-year basis. On average, research analysts forecast that The Boston Beer Company, Inc. will post 9.98 EPS for the current 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.