Eukles Asset Management Boosts Stock Position in Boston Beer Company Inc (NYSE:SAM)

Eukles Asset Management boosted its holdings in shares of Boston Beer Company Inc (NYSE:SAM) by 2.6% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,234 shares of the company’s stock after purchasing an additional 31 shares during the quarter. Eukles Asset Management’s holdings in Boston Beer were worth $466,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Buffington Mohr McNeal purchased a new stake in Boston Beer during the 1st quarter worth approximately $29,000. Quadrant Capital Group LLC purchased a new stake in Boston Beer during the 1st quarter worth approximately $51,000. Osborn Williams & Donohoe LLC purchased a new stake in Boston Beer during the 1st quarter worth approximately $53,000. Marshall Wace North America L.P. purchased a new stake in Boston Beer during the 1st quarter worth approximately $59,000. Finally, NEXT Financial Group Inc increased its holdings in Boston Beer by 119.0% during the 2nd quarter. NEXT Financial Group Inc now owns 184 shares of the company’s stock worth $70,000 after purchasing an additional 100 shares during the last quarter. Institutional investors own 70.33% of the company’s stock.

In related news, Director Jean Michel Valette sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $400.00, for a total transaction of $1,000,000.00. Following the completion of the transaction, the director now owns 27,258 shares in the company, valued at approximately $10,903,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP David L. Grinnell sold 500 shares of the business’s stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $357.50, for a total value of $178,750.00. The disclosure for this sale can be found here. Insiders have sold a total of 5,500 shares of company stock valued at $2,130,425 in the last 90 days. Insiders own 28.40% of the company’s stock.

Several equities research analysts have issued reports on SAM shares. Zacks Investment Research downgraded Boston Beer from a “strong-buy” rating to a “hold” rating and set a $415.00 price objective on the stock. in a report on Wednesday, June 26th. Macquarie upgraded Boston Beer from a “neutral” rating to an “outperform” rating and set a $460.00 target price for the company in a research report on Wednesday, August 7th. BMO Capital Markets lifted their target price on Boston Beer to $350.00 and gave the stock a “market perform” rating in a research report on Friday, July 26th. ValuEngine upgraded Boston Beer from a “hold” rating to a “buy” rating in a research report on Thursday, April 25th. Finally, Citigroup set a $394.00 target price on Boston Beer and gave the stock a “hold” rating in a research report on Friday, July 26th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $345.23.

Shares of SAM traded up $7.93 during mid-day trading on Thursday, hitting $405.74. The stock had a trading volume of 3,308 shares, compared to its average volume of 202,580. The stock has a market capitalization of $4.87 billion, a P/E ratio of 53.60, a PEG ratio of 4.51 and a beta of 0.68. The company’s fifty day moving average price is $388.76. Boston Beer Company Inc has a fifty-two week low of $230.93 and a fifty-two week high of $411.59.

Boston Beer (NYSE:SAM) last released its quarterly earnings data on Thursday, July 25th. The company reported $2.34 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.83 by $0.51. Boston Beer had a return on equity of 22.89% and a net margin of 9.92%. The business had revenue of $318.40 million during the quarter, compared to analyst estimates of $308.49 million. During the same quarter in the previous year, the firm posted $1.98 EPS. The business’s revenue for the quarter was up 16.6% compared to the same quarter last year. Analysts forecast that Boston Beer Company Inc will post 8.93 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, and hard seltzers under the Samuel Adams, Twisted Tea, Angry Orchard Hard Cider, and Truly Hard Seltzer brand names.

Read More: Capital Gains Distribution

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

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