Howe & Rusling Inc. Sells 66 Shares of The Boston Beer Company, Inc. $SAM

Howe & Rusling Inc. reduced its holdings in shares of The Boston Beer Company, Inc. (NYSE:SAM) by 6.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 974 shares of the company’s stock after selling 66 shares during the quarter. Howe & Rusling Inc.’s holdings in Boston Beer were worth $233,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Boston Beer by 1.8% in the first quarter. Vanguard Group Inc. now owns 865,251 shares of the company’s stock valued at $206,657,000 after purchasing an additional 15,563 shares during the last quarter. Armistice Capital LLC raised its position in shares of Boston Beer by 72.7% during the first quarter. Armistice Capital LLC now owns 210,553 shares of the company’s stock worth $50,288,000 after acquiring an additional 88,624 shares during the last quarter. Millennium Management LLC raised its position in shares of Boston Beer by 97.3% during the first quarter. Millennium Management LLC now owns 185,898 shares of the company’s stock worth $44,400,000 after acquiring an additional 91,667 shares during the last quarter. Invesco Ltd. grew its stake in Boston Beer by 10.3% during the first quarter. Invesco Ltd. now owns 109,259 shares of the company’s stock worth $26,095,000 after purchasing an additional 10,241 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in Boston Beer by 5.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 99,457 shares of the company’s stock worth $23,754,000 after purchasing an additional 5,101 shares during the period. 81.13% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on SAM shares. Sanford C. Bernstein set a $230.00 target price on Boston Beer and gave the stock a “market perform” rating in a research note on Monday, July 28th. Evercore ISI decreased their target price on Boston Beer from $275.00 to $250.00 and set an “in-line” rating for the company in a research note on Friday, July 25th. The Goldman Sachs Group decreased their target price on Boston Beer from $219.00 to $187.00 and set a “sell” rating for the company in a research note on Monday, June 23rd. Morgan Stanley decreased their target price on Boston Beer from $270.00 to $245.00 and set an “equal weight” rating for the company in a research note on Friday, July 25th. Finally, Wall Street Zen cut Boston Beer from a “buy” rating to a “hold” rating in a research note on Friday, June 27th. Two research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $258.09.

Insiders Place Their Bets

In other Boston Beer news, VP Annette N. Fritsch sold 600 shares of the business’s stock in a transaction on Friday, August 8th. The stock was sold at an average price of $219.24, for a total value of $131,544.00. Following the transaction, the vice president owned 9,715 shares of the company’s stock, valued at approximately $2,129,916.60. The trade was a 5.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 26.10% of the company’s stock.

Boston Beer Stock Performance

Shares of Boston Beer stock opened at $216.67 on Friday. The Boston Beer Company, Inc. has a 52 week low of $185.34 and a 52 week high of $329.55. The stock has a 50 day moving average price of $212.34 and a two-hundred day moving average price of $223.91. The stock has a market capitalization of $2.42 billion, a PE ratio of 30.56, a price-to-earnings-growth ratio of 1.88 and a beta of 0.82.

Boston Beer (NYSE:SAM) last announced its earnings results on Thursday, July 24th. The company reported $5.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.37 by $1.08. The company had revenue of $587.95 million for the quarter, compared to analysts’ expectations of $599.18 million. Boston Beer had a return on equity of 15.15% and a net margin of 3.65%.Boston Beer’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.39 earnings per share. Boston Beer has set its FY 2025 guidance at 8.000-10.500 EPS. Research analysts forecast that The Boston Beer Company, Inc. will post 9.29 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, flavored malt beverages, and hard seltzers under the Samuel Adams, Twisted Tea, Truly, Angry Orchard, Dogfish Head, Angel City, and Coney Island brand names.