Vanguard Group Inc. Purchases 21,060 Shares of The Boston Beer Company, Inc. (NYSE:SAM)

Vanguard Group Inc. increased its stake in shares of The Boston Beer Company, Inc. (NYSE:SAM - Free Report) by 2.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 918,502 shares of the company's stock after acquiring an additional 21,060 shares during the period. Vanguard Group Inc. owned 7.64% of Boston Beer worth $317,425,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in SAM. Envestnet Portfolio Solutions Inc. boosted its holdings in Boston Beer by 5.7% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 609 shares of the company's stock valued at $210,000 after acquiring an additional 33 shares during the period. CWM LLC grew its stake in shares of Boston Beer by 17.6% in the fourth quarter. CWM LLC now owns 227 shares of the company's stock worth $78,000 after acquiring an additional 34 shares during the last quarter. Cardinal Capital Management increased its position in Boston Beer by 1.3% during the fourth quarter. Cardinal Capital Management now owns 2,784 shares of the company's stock worth $962,000 after acquiring an additional 36 shares during the period. Treasurer of the State of North Carolina raised its stake in Boston Beer by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 4,167 shares of the company's stock valued at $1,440,000 after purchasing an additional 40 shares during the last quarter. Finally, Pacific Global Investment Management Co. boosted its holdings in Boston Beer by 6.5% in the 4th quarter. Pacific Global Investment Management Co. now owns 1,031 shares of the company's stock valued at $356,000 after purchasing an additional 63 shares during the period. 81.13% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, insider Carolyn L. O'boyle sold 101 shares of the business's stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $303.49, for a total transaction of $30,652.49. Following the completion of the sale, the insider now directly owns 7,029 shares of the company's stock, valued at $2,133,231.21. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 23.30% of the company's stock.

Boston Beer Trading Up 0.9 %

Shares of SAM traded up $2.69 during mid-day trading on Friday, hitting $305.05. 328,420 shares of the company traded hands, compared to its average volume of 262,282. The business has a 50-day moving average of $284.96 and a 200 day moving average of $313.30. The Boston Beer Company, Inc. has a one year low of $254.40 and a one year high of $395.52. The stock has a market capitalization of $3.65 billion, a price-to-earnings ratio of 38.27, a PEG ratio of 1.15 and a beta of 1.09.

Boston Beer (NYSE:SAM - Get Free Report) last released its earnings results on Thursday, April 25th. The company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.08 by $0.96. Boston Beer had a return on equity of 10.11% and a net margin of 4.60%. The company had revenue of $426.05 million during the quarter, compared to analysts' expectations of $414.18 million. As a group, analysts anticipate that The Boston Beer Company, Inc. will post 10.25 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SAM has been the subject of a number of research reports. Citigroup reduced their price objective on Boston Beer from $350.00 to $315.00 and set a "neutral" rating for the company in a research report on Tuesday, April 16th. Morgan Stanley raised shares of Boston Beer from an "underweight" rating to an "equal weight" rating and set a $290.00 target price on the stock in a research note on Wednesday, June 5th. StockNews.com cut shares of Boston Beer from a "buy" rating to a "hold" rating in a research note on Wednesday, June 12th. Piper Sandler started coverage on Boston Beer in a research note on Friday, March 22nd. They issued an "overweight" rating and a $350.00 price objective on the stock. Finally, The Goldman Sachs Group cut their target price on Boston Beer from $257.00 to $250.00 and set a "sell" rating for the company in a research report on Tuesday, April 9th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $335.00.

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.