Canada Pension Plan Investment Board Lowers Stake in The Boston Beer Company, Inc. (NYSE:SAM)

Canada Pension Plan Investment Board lowered its stake in The Boston Beer Company, Inc. (NYSE:SAM - Free Report) by 12.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 58,500 shares of the company's stock after selling 8,300 shares during the quarter. Canada Pension Plan Investment Board owned 0.51% of Boston Beer worth $17,549,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Fisher Asset Management LLC boosted its position in Boston Beer by 27.1% during the 4th quarter. Fisher Asset Management LLC now owns 160,419 shares of the company's stock valued at $48,122,000 after buying an additional 34,176 shares during the period. Norges Bank bought a new position in shares of Boston Beer in the 4th quarter worth approximately $30,741,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Boston Beer by 5.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 94,356 shares of the company's stock valued at $28,305,000 after purchasing an additional 4,675 shares during the period. Cooper Creek Partners Management LLC bought a new stake in shares of Boston Beer during the fourth quarter valued at approximately $25,054,000. Finally, Global Alpha Capital Management Ltd. purchased a new stake in Boston Beer in the fourth quarter worth $23,349,000. Hedge funds and other institutional investors own 81.13% of the company's stock.

Boston Beer Price Performance

Shares of NYSE:SAM traded up $7.05 during trading on Friday, hitting $249.45. The company's stock had a trading volume of 382,462 shares, compared to its average volume of 172,959. The company has a 50-day moving average of $236.30 and a 200-day moving average of $269.02. The firm has a market cap of $2.80 billion, a price-to-earnings ratio of 36.68, a P/E/G ratio of 1.23 and a beta of 1.26. The Boston Beer Company, Inc. has a 12 month low of $215.10 and a 12 month high of $339.77.

Boston Beer (NYSE:SAM - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The company reported $2.16 earnings per share for the quarter, topping the consensus estimate of $0.78 by $1.38. The business had revenue of $481.36 million for the quarter, compared to analysts' expectations of $436.27 million. Boston Beer had a net margin of 3.82% and a return on equity of 11.76%. As a group, research analysts anticipate that The Boston Beer Company, Inc. will post 9.29 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Needham & Company LLC reissued a "hold" rating on shares of Boston Beer in a research report on Friday. Citigroup lifted their target price 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. UBS Group lifted their price target on Boston Beer from $265.00 to $279.00 and gave the stock a "neutral" rating in a research report on Thursday, April 17th. StockNews.com downgraded shares of Boston Beer from a "buy" rating to a "hold" rating in a research report on Wednesday, March 5th. Finally, Berenberg Bank began coverage on Boston Beer in a research report on Wednesday, April 2nd. They set a "hold" rating and a $281.10 price objective on the stock. Ten investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $290.01.

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.