Craft Brew Alliance Inc. (BREW) Shares Bought by California State Teachers Retirement System
California State Teachers Retirement System raised its position in shares of Craft Brew Alliance Inc. (NASDAQ:BREW) by 22.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,506 shares of the company’s stock after buying an additional 4,800 shares during the period. California State Teachers Retirement System owned 0.14% of Craft Brew Alliance worth $305,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the stock. Spark Investment Management LLC raised its stake in Craft Brew Alliance by 53.2% in the first quarter. Spark Investment Management LLC now owns 24,200 shares of the company’s stock worth $199,000 after buying an additional 8,400 shares during the period. Bank of New York Mellon Corp raised its stake in Craft Brew Alliance by 0.3% in the second quarter. Bank of New York Mellon Corp now owns 43,244 shares of the company’s stock worth $498,000 after buying an additional 123 shares during the period. Geode Capital Management LLC raised its stake in Craft Brew Alliance by 3.9% in the first quarter. Geode Capital Management LLC now owns 62,472 shares of the company’s stock worth $514,000 after buying an additional 2,322 shares during the period. Finally, State Street Corp raised its stake in Craft Brew Alliance by 1.0% in the first quarter. State Street Corp now owns 148,026 shares of the company’s stock worth $1,218,000 after buying an additional 1,433 shares during the period. 22.14% of the stock is currently owned by hedge funds and other institutional investors.
Craft Brew Alliance Inc. (NASDAQ:BREW) traded up 1.39% during trading on Tuesday, hitting $18.20. The company had a trading volume of 37,376 shares. The company has a market capitalization of $350.11 million, a price-to-earnings ratio of 337.04 and a beta of 0.59. The stock has a 50-day moving average of $19.13 and a 200 day moving average of $12.72. Craft Brew Alliance Inc. has a one year low of $6.80 and a one year high of $22.40.
Craft Brew Alliance (NASDAQ:BREW) last released its earnings results on Wednesday, August 3rd. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by $0.02. Craft Brew Alliance had a return on equity of 0.89% and a net margin of 0.51%. The company had revenue of $62.28 million for the quarter, compared to the consensus estimate of $61.52 million. During the same quarter in the previous year, the company posted $0.07 EPS. The business’s revenue was up 6.4% on a year-over-year basis. Equities analysts forecast that Craft Brew Alliance Inc. will post $0.26 EPS for the current fiscal year.
Several brokerages have recently weighed in on BREW. Zacks Investment Research raised Craft Brew Alliance from a “hold” rating to a “buy” rating and set a $22.00 price objective on the stock in a report on Wednesday, September 7th. TheStreet raised Craft Brew Alliance from a “hold” rating to a “buy” rating in a report on Wednesday, August 10th. Sidoti raised Craft Brew Alliance from a “neutral” rating to a “buy” rating in a report on Thursday, August 4th. Finally, Citigroup Inc. lifted their price objective on Craft Brew Alliance from $14.00 to $20.00 and gave the stock a “neutral” rating in a report on Friday, September 2nd. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $21.00.
In related news, Director John D. Rogers, Jr. sold 12,376 shares of the company’s stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $20.05, for a total transaction of $248,138.80. Following the sale, the director now owns 29,301 shares in the company, valued at $587,485.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.40% of the company’s stock.
About Craft Brew Alliance
Craft Brew Alliance, Inc is a craft brewing company that is engaged in brewing, branding and bringing to market American craft beers. The Company operates through two segments: Beer Related operations, which include the brewing operations and related domestic and international beer and cider sales of its Kona, Widmer Brothers, Redhook and Omission beer brands, and Square Mile cider brand, and Pubs operations, which include its approximately five pubs, over four of which are located adjacent to its Beer Related operations, as well as other merchandise sales, and sales of its beers directly to customers.
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