JPMorgan Chase & Co. Has $24.17 Million Stake in Boston Beer Company Inc (SAM)

JPMorgan Chase & Co. grew its stake in Boston Beer Company Inc (NYSE:SAM) by 61.8% in the third quarter, HoldingsChannel reports. The firm owned 84,063 shares of the company’s stock after acquiring an additional 32,093 shares during the quarter. JPMorgan Chase & Co.’s holdings in Boston Beer were worth $24,168,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. FMR LLC purchased a new stake in shares of Boston Beer in the second quarter valued at approximately $216,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Boston Beer by 69.6% in 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 in the last quarter. Cambridge Investment Research Advisors Inc. purchased a new position in Boston Beer in the third quarter worth approximately $224,000. Tocqueville Asset Management L.P. purchased a new position in Boston Beer in the second quarter worth approximately $236,000. Finally, Janney Montgomery Scott LLC purchased a new position in Boston Beer in the third quarter worth approximately $258,000. Institutional investors and hedge funds own 72.16% of the company’s stock.

In other news, Chairman C James Koch sold 10,000 shares of the firm’s stock in a transaction on Thursday, September 13th. The stock was sold at an average price of $318.68, for a total transaction of $3,186,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Quincy B. Troupe sold 700 shares of the firm’s stock in a transaction on Tuesday, October 30th. The stock was sold at an average price of $298.80, for a total value of $209,160.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 25,700 shares of company stock valued at $8,018,760. Company insiders own 29.20% of the company’s stock.

Several research analysts recently weighed in on SAM shares. Guggenheim started coverage on Boston Beer in a research report on Thursday, September 13th. They issued a “buy” rating and a $381.00 price objective for the company. Jefferies Financial Group reiterated a “hold” rating and issued a $270.00 price objective on shares of Boston Beer in a research report on Friday, October 26th. Zacks Investment Research upgraded Boston Beer from a “sell” rating to a “hold” rating in a research report on Monday, October 1st. Berenberg Bank set a $290.00 price objective on Boston Beer and gave the stock a “hold” rating in a research report on Tuesday, September 11th. Finally, ValuEngine upgraded Boston Beer from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 31st. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. Boston Beer currently has a consensus rating of “Hold” and a consensus target price of $271.67.

Shares of Boston Beer stock opened at $274.54 on Friday. The company has a market capitalization of $3.24 billion, a P/E ratio of 45.68, a price-to-earnings-growth ratio of 3.78 and a beta of 0.56. Boston Beer Company Inc has a fifty-two week low of $160.40 and a fifty-two week high of $329.95.

Boston Beer (NYSE:SAM) last issued its quarterly earnings data on Thursday, October 25th. The company reported $3.21 earnings per share for the quarter, missing the consensus estimate of $3.35 by ($0.14). Boston Beer had a return on equity of 18.00% and a net margin of 10.17%. The business had revenue of $326.85 million during the quarter, compared to analysts’ expectations of $270.60 million. As a group, analysts anticipate that Boston Beer Company Inc will post 7.48 EPS for the current fiscal year.

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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 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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