Savoir Faire Capital Management L.P. Acquires 8,585 Shares of The Boston Beer Company, Inc. $SAM

Savoir Faire Capital Management L.P. increased its holdings in The Boston Beer Company, Inc. (NYSE:SAM) by 28.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 38,825 shares of the company’s stock after buying an additional 8,585 shares during the period. Boston Beer accounts for 2.9% of Savoir Faire Capital Management L.P.’s investment portfolio, making the stock its 14th biggest position. Savoir Faire Capital Management L.P. owned approximately 0.35% of Boston Beer worth $8,208,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Quent Capital LLC bought a new stake in shares of Boston Beer during the third quarter valued at about $27,000. MassMutual Private Wealth & Trust FSB lifted its stake in Boston Beer by 137.3% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 159 shares of the company’s stock worth $34,000 after purchasing an additional 92 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Boston Beer by 81.7% in the 3rd quarter. GAMMA Investing LLC now owns 189 shares of the company’s stock valued at $40,000 after purchasing an additional 85 shares during the period. TD Waterhouse Canada Inc. boosted its stake in Boston Beer by 606.1% during the second quarter. TD Waterhouse Canada Inc. now owns 233 shares of the company’s stock valued at $46,000 after buying an additional 200 shares during the period. Finally, Elevation Point Wealth Partners LLC purchased a new position in Boston Beer during the second quarter worth about $50,000. Institutional investors own 81.13% of the company’s stock.

Boston Beer Stock Performance

Shares of Boston Beer stock opened at $220.54 on Monday. The Boston Beer Company, Inc. has a 52-week low of $185.34 and a 52-week high of $260.00. The company’s 50 day moving average price is $200.93 and its 200-day moving average price is $209.79. The stock has a market capitalization of $2.35 billion, a price-to-earnings ratio of 26.01, a P/E/G ratio of 1.60 and a beta of 1.04.

Boston Beer (NYSE:SAM) last announced its quarterly earnings results on Thursday, October 23rd. The company reported $4.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.78 by $0.47. The business had revenue of $537.49 million for the quarter, compared to analyst estimates of $542.97 million. Boston Beer had a net margin of 4.38% and a return on equity of 12.29%. The company’s revenue was down 11.2% on a year-over-year basis. During the same quarter last year, the firm earned $2.86 EPS. As a group, equities research analysts forecast that The Boston Beer Company, Inc. will post 9.29 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Michael Spillane sold 3,120 shares of Boston Beer stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $205.78, for a total value of $642,033.60. Following the sale, the director directly owned 10,877 shares in the company, valued at approximately $2,238,269.06. This trade represents a 22.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 26.10% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on SAM shares. Piper Sandler dropped their price target on Boston Beer from $230.00 to $220.00 and set a “neutral” rating for the company in a research report on Friday, November 21st. Jefferies Financial Group dropped their price objective on shares of Boston Beer from $230.00 to $225.00 and set a “hold” rating for the company in a report on Tuesday, September 30th. Weiss Ratings reissued a “sell (d+)” rating on shares of Boston Beer in a research note on Thursday. Citigroup dropped their price target on Boston Beer from $250.00 to $220.00 and set a “neutral” rating for the company in a research note on Wednesday, December 17th. Finally, UBS Group decreased their price objective on Boston Beer from $246.00 to $234.00 and set a “neutral” rating on the stock in a report on Wednesday, January 14th. One research analyst has rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Boston Beer has an average rating of “Reduce” and a consensus target price of $247.28.

Boston Beer Company Profile

The Boston Beer Company, Inc (NYSE: SAM) is a leading craft brewer headquartered in Boston, Massachusetts. Since its founding in 1984 by Jim Koch, the company has focused on producing high-quality, distinctive beers and beverages for retail, on-premise, and distribution partners across the United States. Its operations include brewing, packaging, marketing and distribution, supported by a network of wholly owned brewing facilities and strategic partnerships with regional breweries.

Boston Beer’s flagship brand, Samuel Adams Boston Lager, helped establish the modern U.S.