ING Groep NV Acquires Shares of 1,340 Boston Beer Company Inc (SAM)
ING Groep NV acquired a new stake in Boston Beer Company Inc (NYSE:SAM) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,340 shares of the company’s stock, valued at approximately $402,000.
Several other hedge funds have also recently added to or reduced their stakes in the company. Bessemer Group Inc. raised its stake in Boston Beer by 5.5% in the second quarter. Bessemer Group Inc. now owns 7,700 shares of the company’s stock valued at $2,308,000 after purchasing an additional 400 shares in the last quarter. Jennison Associates LLC purchased a new stake in Boston Beer in the second quarter valued at approximately $397,000. State Board of Administration of Florida Retirement System raised its stake in Boston Beer by 38.5% in the second quarter. State Board of Administration of Florida Retirement System now owns 4,996 shares of the company’s stock valued at $1,497,000 after purchasing an additional 1,390 shares in the last quarter. Contravisory Investment Management Inc. purchased a new stake in Boston Beer in the second quarter valued at approximately $221,000. Finally, Emerald Advisers Inc. PA purchased a new stake in Boston Beer in the second quarter valued at approximately $802,000. Institutional investors own 72.28% of the company’s stock.
A number of equities research analysts recently weighed in on SAM shares. Macquarie downgraded shares of Boston Beer from a “neutral” rating to an “underperform” rating and set a $225.00 target price on the stock. in a research note on Wednesday, July 25th. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of Boston Beer from a “buy” rating to a “hold” rating in a research note on Wednesday, June 27th. ValuEngine raised shares of Boston Beer from a “hold” rating to a “buy” rating in a research note on Tuesday, May 29th. Royal Bank of Canada reaffirmed a “neutral” rating and issued a $210.00 target price on shares of Boston Beer in a research note on Friday, July 27th. Finally, Cowen reaffirmed a “hold” rating and issued a $350.00 target price on shares of Boston Beer in a research note on Wednesday, July 25th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $234.83.
Boston Beer (NYSE:SAM) last posted its quarterly earnings results on Thursday, July 26th. The company reported $1.98 EPS for the quarter, missing the consensus estimate of $2.77 by ($0.79). The business had revenue of $273.10 million for the quarter, compared to analysts’ expectations of $273.05 million. Boston Beer had a return on equity of 17.21% and a net margin of 10.39%. The company’s revenue was up 10.2% compared to the same quarter last year. During the same period last year, the business posted $2.35 earnings per share. sell-side analysts predict that Boston Beer Company Inc will post 7.09 EPS for the current fiscal year.
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 sells approximately 60 beers under the Samuel Adams brand names; 10 flavored malt beverages under the Twisted Tea brand name; 20 hard cider beverages under the Angry Orchard brand; 5 hard sparkling waters under the Truly Spiked & Sparkling brand name; and approximately 50 beers under 4 brand names.
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