Jensen Investment Management Inc. Purchases 630 Shares of Boston Beer Co. (SAM)
Jensen Investment Management Inc. raised its position in shares of Boston Beer Co. (NYSE:SAM) by 29.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,740 shares of the company’s stock after buying an additional 630 shares during the period. Jensen Investment Management Inc.’s holdings in Boston Beer were worth $469,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Diversified Trust Co acquired a new position in shares of Boston Beer during the second quarter worth about $218,000. Strs Ohio increased its position in shares of Boston Beer by 2.8% in the second quarter. Strs Ohio now owns 26,000 shares of the company’s stock worth $4,446,000 after buying an additional 700 shares in the last quarter. Palo Capital Inc. increased its position in shares of Boston Beer by 294.0% in the second quarter. Palo Capital Inc. now owns 18,610 shares of the company’s stock worth $3,182,000 after buying an additional 13,887 shares in the last quarter. Acadian Asset Management LLC increased its position in shares of Boston Beer by 104.2% in the second quarter. Acadian Asset Management LLC now owns 7,022 shares of the company’s stock worth $1,201,000 after buying an additional 3,584 shares in the last quarter. Finally, Cim LLC increased its position in shares of Boston Beer by 1.6% in the second quarter. Cim LLC now owns 1,868 shares of the company’s stock worth $319,000 after buying an additional 30 shares in the last quarter. Institutional investors own 65.23% of the company’s stock.
Boston Beer Co. (NYSE:SAM) traded up 0.17% during trading on Thursday, reaching $151.32. The company had a trading volume of 249,228 shares. Boston Beer Co. has a 12-month low of $145.33 and a 12-month high of $260.51. The stock has a 50 day moving average of $179.64 and a 200-day moving average of $171.28. The stock has a market capitalization of $1.86 billion, a P/E ratio of 22.66 and a beta of 0.69.
Boston Beer (NYSE:SAM) last announced its quarterly earnings data on Thursday, July 21st. The company reported $2.06 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.94 by $0.12. The business earned $244.80 million during the quarter, compared to the consensus estimate of $238.87 million. Boston Beer had a net margin of 9.22% and a return on equity of 19.60%. On average, analysts forecast that Boston Beer Co. will post $6.50 earnings per share for the current fiscal year.
A number of brokerages recently issued reports on SAM. Cowen and Company downgraded Boston Beer from a “market perform” rating to an “underperform” rating and reduced their price target for the company from $170.00 to $128.00 in a report on Wednesday. William Blair began coverage on Boston Beer in a report on Wednesday. They set an “outperform” rating on the stock. Credit Suisse Group AG began coverage on Boston Beer in a report on Thursday, September 15th. They set an “underperform” rating and a $156.00 target price on the stock. Susquehanna reiterated a “hold” rating on shares of Boston Beer in a report on Monday, August 22nd. Finally, Jefferies Group reiterated a “hold” rating on shares of Boston Beer in a report on Wednesday, August 10th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company. Boston Beer currently has an average rating of “Hold” and an average target price of $173.91.
In other news, major shareholder Tybourne Capital Management Hk sold 600 shares of the firm’s stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $186.33, for a total transaction of $111,798.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP David L. Grinnell sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 21st. The stock was sold at an average price of $164.81, for a total transaction of $164,810.00. The disclosure for this sale can be found here. 31.30% of the stock is currently owned by company insiders.
About Boston Beer
The Boston Beer Company, Inc (Boston Beer) is a craft brewer in the United States. The Company is engaged in the business of producing and selling alcohol beverages primarily in the domestic market and in international markets. The Company operates through two segments: Boston Beer Company segment and A&S Brewing Collaborative segment.
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