Hsbc Holdings PLC trimmed its holdings in shares of The Boston Beer Company, Inc. (NYSE:SAM – Get Rating) by 63.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,452 shares of the company’s stock after selling 5,872 shares during the quarter. Hsbc Holdings PLC’s holdings in Boston Beer were worth $1,148,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in SAM. Eagle Bay Advisors LLC acquired a new position in Boston Beer during the second quarter worth $32,000. Quadrant Capital Group LLC raised its position in shares of Boston Beer by 47.6% during the 2nd quarter. Quadrant Capital Group LLC now owns 121 shares of the company’s stock worth $37,000 after purchasing an additional 39 shares during the last quarter. Wipfli Financial Advisors LLC purchased a new position in Boston Beer in the 3rd quarter valued at about $38,000. Dark Forest Capital Management LP acquired a new stake in Boston Beer in the 2nd quarter worth about $40,000. Finally, Lazard Asset Management LLC purchased a new stake in Boston Beer during the 2nd quarter worth approximately $48,000. Hedge funds and other institutional investors own 68.72% of the company’s stock.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on SAM. Royal Bank of Canada decreased their target price on Boston Beer from $314.00 to $300.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 16th. Morgan Stanley decreased their price objective on Boston Beer from $300.00 to $270.00 and set an “underweight” rating on the stock in a report on Thursday, February 16th. Jefferies Financial Group lowered shares of Boston Beer from a “hold” rating to an “underperform” rating and dropped their target price for the stock from $331.00 to $275.00 in a report on Wednesday, January 4th. Roth Mkm decreased their price target on shares of Boston Beer from $282.00 to $276.00 and set a “neutral” rating on the stock in a research note on Thursday, February 16th. Finally, UBS Group lowered their price target on shares of Boston Beer from $416.00 to $376.00 and set a “neutral” rating on the stock in a research report on Thursday, February 16th. Six investment analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Boston Beer has a consensus rating of “Hold” and an average target price of $335.19.
Boston Beer Stock Down 1.6 %
Boston Beer (NYSE:SAM – Get Rating) last issued its quarterly earnings data on Wednesday, February 15th. The company reported ($0.93) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($1.65). Boston Beer had a net margin of 3.12% and a return on equity of 8.36%. The company had revenue of $447.53 million during the quarter, compared to analysts’ expectations of $392.76 million. During the same quarter last year, the firm posted ($0.09) earnings per share. The firm’s quarterly revenue was up 28.6% on a year-over-year basis. As a group, equities analysts expect that The Boston Beer Company, Inc. will post 8 earnings per share for the current year.
About Boston Beer
Boston Beer Co, Inc engages in the production of alcoholic beverages. Its brands include Truly Hard Seltzer, Twisted Tea, Samuel Adams, Angry Orchard, Hard Cider and Dogfish Head Craft Brewery. Boston Beer produces alcohol beverages, including hard seltzer, malt beverages (“beers“), and hard cider at company-owned breweries and its cidery, and under contract arrangements at other brewery locations.
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