Brevan Howard Capital Management LP Sells 2,673 Shares of The Boston Beer Company, Inc. (NYSE:SAM)

Brevan Howard Capital Management LP lowered its position in shares of The Boston Beer Company, Inc. (NYSE:SAM) by 40.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,974 shares of the company’s stock after selling 2,673 shares during the period. Brevan Howard Capital Management LP’s holdings in Boston Beer were worth $1,192,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in SAM. T. Rowe Price Investment Management Inc. increased its holdings in shares of Boston Beer by 4.4% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 703,480 shares of the company’s stock worth $211,030,000 after purchasing an additional 29,412 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of Boston Beer by 19.8% during the fourth quarter. AQR Capital Management LLC now owns 422,217 shares of the company’s stock valued at $125,821,000 after buying an additional 69,778 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Boston Beer by 9.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 225,762 shares of the company’s stock worth $67,723,000 after buying an additional 19,063 shares in the last quarter. Fisher Asset Management LLC raised its position in Boston Beer by 27.1% in the 4th quarter. Fisher Asset Management LLC now owns 160,419 shares of the company’s stock worth $48,122,000 after buying an additional 34,176 shares during the last quarter. Finally, Southernsun Asset Management LLC lifted its stake in Boston Beer by 1.6% during the 4th quarter. Southernsun Asset Management LLC now owns 121,972 shares of the company’s stock valued at $36,589,000 after acquiring an additional 1,864 shares during the period. 81.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on SAM shares. Citigroup boosted their price objective on shares of Boston Beer from $280.00 to $285.00 and gave the company a “buy” rating in a report on Monday, April 14th. Piper Sandler reduced their price objective on shares of Boston Beer from $240.00 to $230.00 and set a “neutral” rating for the company in a research note on Thursday, April 17th. UBS Group boosted their price objective on Boston Beer from $265.00 to $279.00 and gave the company a “neutral” rating in a research report on Thursday, April 17th. Roth Mkm reiterated a “buy” rating and set a $349.00 price objective (down previously from $389.00) on shares of Boston Beer in a research report on Wednesday, February 26th. Finally, Cfra Research upgraded shares of Boston Beer from a “moderate sell” rating to a “moderate buy” rating in a report on Thursday, April 24th. Eight analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $286.12.

Boston Beer Stock Down 0.3 %

Shares of NYSE SAM opened at $241.22 on Thursday. The firm has a market cap of $2.69 billion, a price-to-earnings ratio of 35.47, a price-to-earnings-growth ratio of 1.23 and a beta of 1.14. The company’s 50-day simple moving average is $238.09 and its 200-day simple moving average is $266.70. The Boston Beer Company, Inc. has a 52-week low of $215.10 and a 52-week high of $339.77.

Boston Beer (NYSE:SAM) last posted its quarterly earnings data on Thursday, April 24th. The company reported $2.16 EPS for the quarter, topping the consensus estimate of $0.78 by $1.38. The company had revenue of $481.36 million during the quarter, compared to analyst estimates of $436.27 million. Boston Beer had a return on equity of 11.76% and a net margin of 3.82%. Boston Beer’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.04 EPS. Equities research analysts anticipate that The Boston Beer Company, Inc. will post 9.29 EPS for the current fiscal 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.