BNP Paribas Financial Markets Cuts Position in The Boston Beer Company, Inc. (NYSE:SAM)

BNP Paribas Financial Markets reduced its stake in shares of The Boston Beer Company, Inc. (NYSE:SAM – Free Report) by 27.2% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 2,812 shares of the company after selling 1,052 shares during the period. BNP Paribas Financial Markets’ holdings in Boston Beer were worth $856,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Quarry LP purchased a new position in shares of Boston Beer during the fourth quarter worth approximately $42,000. CWM LLC increased its holdings in Boston Beer by 17.6% in the fourth quarter. CWM LLC now owns 227 shares of the company’s stock worth $78,000 after acquiring an additional 34 shares during the last quarter. Principal Securities Inc. purchased a new position in shares of Boston Beer during the fourth quarter worth approximately $82,000. Quest Partners LLC purchased a new position in shares of Boston Beer during the fourth quarter worth approximately $129,000. Finally, Envestnet Portfolio Solutions Inc. increased its holdings in shares of Boston Beer by 5.7% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 609 shares of the company’s stock, worth $210,000, after buying an additional 33 shares in the last quarter. 81.13% of the shares are currently held by institutional investors.

Boston beer price development

Boston Beer shares opened Friday at $279.26. The stock has a market cap of $3.34 billion, a price-to-earnings ratio of 35.04, a price-to-earnings growth ratio of 1.08 and a beta of 1.03. The company has a 50-day moving average of $287.34 and a 200-day moving average of $307.69. The Boston Beer Company, Inc. has a 1-year low of $254.40 and a 1-year high of $395.52.

Boston Beer (NYSE:SAM – Get Free Report) last announced its quarterly results on Thursday, April 25. The company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.96. The company had revenue of $426.05 million during the quarter, compared to analyst estimates of $414.18 million. Boston Beer had a return on equity of 10.11% and a net margin of 4.60%. Research analysts expect The Boston Beer Company, Inc. to post 10.26 EPS for the current year.

Wall Street analysts weigh in

Several equities analysts have commented on the stock. Goldman Sachs Group lowered their price target on shares of Boston Beer from $257.00 to $250.00 and set a “sell” rating on the company in a research report on Tuesday, April 9th. StockNews.com lowered Boston Beer from a “buy” rating to a “hold” rating in a research report on Wednesday, June 12th. Deutsche Bank Aktiengesellschaft raised their price target on Boston Beer from $273.00 to $283.00 and gave the company a “hold” rating in a research report on Wednesday. Jefferies Financial Group raised Boston Beer from a “hold” rating to a “buy” rating and raised their price target on the company from $335.00 to $360.00 in a research report on Tuesday, May 14th. Finally, Evercore ISI raised their price target on Boston Beer from $310.00 to $325.00 and gave the stock an “in-line” rating in a research report on Friday, April 26th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, and three have given a buy rating to the company’s stock. According to data from MarketBeat, Boston Beer currently has an average rating of “Hold” and an average price target of $335.29.

Check out our latest analysis on Boston Beer

Boston Beer Profile

(Free Report)

The Boston Beer Company, Inc. produces and sells alcoholic beverages primarily in the United States. The company’s flagship beer is Samuel Adams Boston Lager. It offers a variety of ales, hard ciders, flavored malt beverages, and hard seltzers under the Samuel Adams, Twisted Tea, Truly, Angry Orchard, Dogfish Head, Angel City, and Coney Island brands.

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