NEXT Financial Group Inc Acquires 100 Shares of Boston Beer Company Inc (NYSE:SAM)

NEXT Financial Group Inc raised its holdings in shares of Boston Beer Company Inc (NYSE:SAM) by 119.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 184 shares of the company’s stock after purchasing an additional 100 shares during the period. NEXT Financial Group Inc’s holdings in Boston Beer were worth $70,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in SAM. Norges Bank purchased a new stake in shares of Boston Beer during the fourth quarter valued at approximately $22,173,000. FMR LLC grew its holdings in shares of Boston Beer by 29.0% during the first quarter. FMR LLC now owns 90,102 shares of the company’s stock valued at $26,555,000 after buying an additional 20,259 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Boston Beer by 1.9% during the first quarter. BlackRock Inc. now owns 991,265 shares of the company’s stock valued at $292,154,000 after buying an additional 18,282 shares during the last quarter. Dorsey Wright & Associates grew its holdings in shares of Boston Beer by 171.6% during the second quarter. Dorsey Wright & Associates now owns 16,146 shares of the company’s stock valued at $6,099,000 after buying an additional 10,201 shares during the last quarter. Finally, 361 Capital LLC purchased a new stake in shares of Boston Beer during the first quarter valued at approximately $2,773,000. 73.73% of the stock is owned by institutional investors and hedge funds.

Shares of SAM stock opened at $402.96 on Friday. Boston Beer Company Inc has a 12-month low of $230.93 and a 12-month high of $411.59. The stock has a 50 day moving average of $383.33. The stock has a market capitalization of $4.77 billion, a PE ratio of 53.94, a P/E/G ratio of 4.42 and a beta of 0.68.

Boston Beer (NYSE:SAM) last issued its earnings results on Thursday, July 25th. The company reported $2.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.83 by $0.51. Boston Beer had a net margin of 9.92% and a return on equity of 22.89%. The company had revenue of $318.40 million for the quarter, compared to analysts’ expectations of $308.49 million. During the same quarter last year, the company posted $1.98 earnings per share. The firm’s quarterly revenue was up 16.6% on a year-over-year basis. Equities research analysts expect that Boston Beer Company Inc will post 8.93 EPS for the current fiscal year.

In related news, VP David L. Grinnell sold 500 shares of the firm’s stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $357.50, for a total value of $178,750.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jean Michel Valette sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $380.67, for a total transaction of $951,675.00. Following the completion of the sale, the director now owns 27,258 shares in the company, valued at approximately $10,376,302.86. The disclosure for this sale can be found here. Insiders sold 5,500 shares of company stock worth $2,130,425 in the last 90 days. 28.40% of the stock is currently owned by corporate insiders.

A number of research firms have recently commented on SAM. Macquarie upgraded shares of Boston Beer from a “neutral” rating to an “outperform” rating and set a $460.00 price target on the stock in a report on Wednesday. Royal Bank of Canada set a $346.00 price target on shares of Boston Beer and gave the company a “hold” rating in a report on Friday, July 26th. Citigroup set a $394.00 price target on shares of Boston Beer and gave the company a “hold” rating in a report on Friday, July 26th. Guggenheim increased their price target on shares of Boston Beer from $372.00 to $421.00 and gave the company a “buy” rating in a report on Friday, July 12th. Finally, Zacks Investment Research cut shares of Boston Beer from a “strong-buy” rating to a “hold” rating and set a $415.00 price target on the stock. in a report on Wednesday, June 26th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $345.23.

Boston Beer 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, and hard seltzers under the Samuel Adams, Twisted Tea, Angry Orchard Hard Cider, and Truly Hard Seltzer brand names.

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Institutional Ownership by Quarter for Boston Beer (NYSE:SAM)

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