Point72 Asset Management L.P. purchased a new stake in Boston Beer Company Inc (NYSE:SAM) during the 4th quarter, Holdings Channel reports. The fund purchased 67,847 shares of the company’s stock, valued at approximately $25,636,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in SAM. FMR LLC boosted its holdings in shares of Boston Beer by 48.5% during the fourth quarter. FMR LLC now owns 357,850 shares of the company’s stock worth $135,213,000 after purchasing an additional 116,867 shares during the period. Renaissance Technologies LLC increased its stake in shares of Boston Beer by 18.3% in the 4th quarter. Renaissance Technologies LLC now owns 490,759 shares of the company’s stock valued at $185,433,000 after acquiring an additional 75,759 shares during the last quarter. Marshall Wace North America L.P. increased its stake in shares of Boston Beer by 4,294.5% in the 4th quarter. Marshall Wace North America L.P. now owns 29,707 shares of the company’s stock valued at $11,225,000 after acquiring an additional 29,031 shares during the last quarter. Emerald Advisers LLC increased its stake in shares of Boston Beer by 208.5% in the 4th quarter. Emerald Advisers LLC now owns 39,657 shares of the company’s stock valued at $14,984,000 after acquiring an additional 26,801 shares during the last quarter. Finally, Emerald Mutual Fund Advisers Trust increased its stake in shares of Boston Beer by 193.0% in the 4th quarter. Emerald Mutual Fund Advisers Trust now owns 35,406 shares of the company’s stock valued at $13,378,000 after acquiring an additional 23,324 shares during the last quarter. 72.33% of the stock is currently owned by institutional investors and hedge funds.

NYSE:SAM traded up $0.04 during trading hours on Wednesday, hitting $343.95. The company’s stock had a trading volume of 179,217 shares, compared to its average volume of 175,407. The stock has a fifty day simple moving average of $371.09 and a 200-day simple moving average of $374.73. Boston Beer Company Inc has a twelve month low of $258.34 and a twelve month high of $444.64. The company has a market capitalization of $3.91 billion, a P/E ratio of 37.59 and a beta of 0.68.

Boston Beer (NYSE:SAM) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $1.24 EPS for the quarter, missing the Zacks’ consensus estimate of $1.42 by ($0.18). The company had revenue of $301.30 million during the quarter, compared to analyst estimates of $277.08 million. Boston Beer had a return on equity of 17.62% and a net margin of 8.80%. Equities research analysts forecast that Boston Beer Company Inc will post 11.53 EPS for the current fiscal year.

A number of research firms recently issued reports on SAM. Royal Bank of Canada raised Boston Beer from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $346.00 to $424.00 in a research note on Monday. Deutsche Bank raised their price target on Boston Beer from $403.00 to $424.00 and gave the stock a “hold” rating in a research report on Friday, February 14th. ValuEngine raised Boston Beer from a “sell” rating to a “hold” rating in a research note on Tuesday, February 25th. UBS Group raised Boston Beer from a “neutral” rating to a “buy” rating and raised their price objective for the company from $415.00 to $440.00 in a research note on Tuesday, December 3rd. Finally, MKM Partners raised Boston Beer from a “neutral” rating to a “buy” rating and set a $351.00 price objective on the stock in a research note on Tuesday, March 17th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $424.52.

In other news, Chairman C James Koch sold 4,495 shares of the stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $380.02, for a total transaction of $1,708,189.90. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP David L. Grinnell sold 170 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $373.05, for a total value of $63,418.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 85,711 shares of company stock valued at $32,742,528. 28.40% of the stock is currently owned by corporate insiders.

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, 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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