The Boston Beer Company, Inc. (NYSE:SAM) Shares Bought by Hsbc Holdings PLC

Hsbc Holdings PLC grew its stake in The Boston Beer Company, Inc. (NYSE:SAM) by 33.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,442 shares of the company’s stock after purchasing an additional 364 shares during the period. Hsbc Holdings PLC’s holdings in Boston Beer were worth $433,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in SAM. Dimensional Fund Advisors LP grew its position in Boston Beer by 9.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 225,762 shares of the company’s stock valued at $67,723,000 after buying an additional 19,063 shares during the period. Fisher Asset Management LLC grew its position in shares of Boston Beer by 27.1% during the 4th quarter. Fisher Asset Management LLC now owns 160,419 shares of the company’s stock valued at $48,122,000 after acquiring an additional 34,176 shares during the period. Norges Bank purchased a new position in shares of Boston Beer in the 4th quarter valued at about $30,741,000. Charles Schwab Investment Management Inc. raised its holdings in Boston Beer by 5.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 94,356 shares of the company’s stock worth $28,305,000 after purchasing an additional 4,675 shares during the period. Finally, Cooper Creek Partners Management LLC purchased a new position in Boston Beer during the fourth quarter worth approximately $25,054,000. Institutional investors and hedge funds own 81.13% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on SAM shares. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $279.00 target price on shares of Boston Beer in a research note on Tuesday, April 22nd. Roth Mkm reaffirmed a “buy” rating and set a $349.00 price objective (down from $389.00) on shares of Boston Beer in a report on Wednesday, February 26th. Berenberg Bank started coverage on shares of Boston Beer in a research note on Wednesday, April 2nd. They set a “hold” rating and a $281.10 target price for the company. StockNews.com raised shares of Boston Beer from a “hold” rating to a “buy” rating in a research note on Friday, April 25th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Boston Beer in a research note on Friday, April 25th. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $286.12.

Boston Beer Price Performance

SAM stock opened at $241.22 on Thursday. The Boston Beer Company, Inc. has a 1 year low of $215.10 and a 1 year high of $339.77. The firm has a market capitalization of $2.69 billion, a PE ratio of 35.47, a price-to-earnings-growth ratio of 1.23 and a beta of 1.14. The business has a 50 day simple moving average of $238.09 and a 200-day simple moving average of $266.70.

Boston Beer (NYSE:SAM) last issued its earnings results on Thursday, April 24th. The company reported $2.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $1.38. The company had revenue of $481.36 million during the quarter, compared to analysts’ expectations of $436.27 million. Boston Beer had a return on equity of 11.76% and a net margin of 3.82%. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.04 EPS. On average, equities research analysts expect that The Boston Beer Company, Inc. will post 9.29 EPS for the current year.

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 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.