Oregon Public Employees Retirement Fund Reduces Position in The Boston Beer Company, Inc. Stock (NYSE:SAM)


The Oregon Public Employees Retirement Fund reduced its holdings of shares in The Boston Beer Company, Inc. (NYSE: SAM – Get Rating) by 3.3% during the 1st quarter, according to its latest filing with the Securities and Exchange. Commission. The institutional investor owned 2,972 shares of the company after selling 100 shares during the quarter. The Oregon Public Employees Retirement Fund holdings in Boston Beer were worth $1,155,000 at the end of the most recent reporting period.

Several other large investors also changed their positions in the stock. FNY Investment Advisers LLC bought a new stake in Boston Beer in the fourth quarter for $25,000. Concord Wealth Partners increased its stake in Boston Beer shares by 1,733.3% in the fourth quarter. Concord Wealth Partners now owns 55 shares of the company valued at $28,000 after acquiring 52 additional shares during the period. Cornerstone Advisory LLC purchased a new stake in Boston Beer stock in Q4 for approximately $30,000. Allegheny Financial Group LTD bought a new position in Boston Beer stock during Q4 for a value of approximately $33,000. Finally, Addison Advisors LLC bought a new position in Boston Beer during Q4 valued at around $47,000. 62.12% of the shares are held by hedge funds and other institutional investors.

Separately, Vice Chairman David L. Grinnell sold 425 shares of the company in a transaction dated Friday, July 1. The stock was sold at an average price of $304.97, for a total transaction of $129,612.25. Following the sale, the vice president now owns 1,611 shares of the company, valued at $491,306.67. The sale was disclosed in a filing with the SEC, which is available on the SEC’s website. Company insiders own 23.30% of the company’s shares.

Several analysts have released reports on the stock. Evercore ISI lowered its price target on Boston Beer shares from $600.00 to $400.00 in a Friday, April 22 research note. Guggenheim lowered its price target on Boston Beer from $660.00 to $520.00 and set a “buy” rating for the company in a Wednesday, April 20 report. Deutsche Bank Aktiengesellschaft cut its price target on Boston Beer from $420.00 to $337.00 and placed a “hold” rating on the stock in a Friday, April 22 research note. Citigroup lowered its target price on Boston Beer shares from $424.00 to $375.00 in a Sunday, April 24 research note. Finally, Cowen lowered his price target on Boston Beer shares from $500.00 to $375.00 and set a “market performance” rating on the stock in a Friday, April 22 research note. Two investment analysts gave the stock a sell rating, nine gave the company a hold rating and four gave the company a buy rating. According to MarketBeat.com, Boston Beer has a consensus rating of “Hold” and an average price target of $419.57.

Shares of SAM opened at $314.29 on Wednesday. The company has a debt ratio of 0.02, a quick ratio of 0.79 and a current ratio of 1.45. The company has a 50-day moving average price of $330.41 and a 200-day moving average price of $382.59. The Boston Beer Company, Inc. has a fifty-two week low of $287.00 and a fifty-two week high of $990.40. The stock has a market capitalization of $3.86 billion, a PE ratio of -71.59 and a beta of 0.87.

Boston Beer (NYSE:SAM – Get Rating) last released its results on Thursday, April 21. The company reported ($0.16) earnings per share for the quarter, missing analyst consensus estimates of $2.05 per ($2.21). The company posted revenue of $430.11 million for the quarter, compared to $444.80 million expected by analysts. Boston Beer posted a positive return on equity of 9.05% and a negative net margin of 2.64%. The company’s quarterly revenue was down 21.1% year over year. In the same quarter of the previous year, the company achieved EPS of $4.58. Equity research analysts expect The Boston Beer Company, Inc. to post EPS of 12.11 for the current year.

About Boston Beer (Get a rating)

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 various beers, hard ciders and hard seltzers under the brands Samuel Adams, Twisted Tea, Truly Hard Seltzer, Angry Orchard, Dogfish Head, Angel City, Coney Island, Concrete Beach.

Further reading

Want to see which other hedge funds hold SAM? Visit HoldingsChannel.com for the latest 13F filings and insider trading for The Boston Beer Company, Inc. (NYSE:SAM – Get Rating).

Institutional ownership by quarter for Boston Beer (NYSE: SAM)



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