Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Boston Beer Company Inc (NYSE:SAM) by 28.6% during the third quarter, HoldingsChannel.com reports. The fund owned 940 shares of the company’s stock after acquiring an additional 209 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Boston Beer were worth $270,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Stone Ridge Asset Management LLC increased its position in Boston Beer by 17.2% during the third quarter. Stone Ridge Asset Management LLC now owns 1,364 shares of the company’s stock worth $392,000 after acquiring an additional 200 shares during the period. Victory Capital Management Inc. increased its position in Boston Beer by 16.0% during the second quarter. Victory Capital Management Inc. now owns 1,631 shares of the company’s stock worth $489,000 after acquiring an additional 225 shares during the period. Russell Investments Group Ltd. increased its position in Boston Beer by 3.1% during the second quarter. Russell Investments Group Ltd. now owns 8,975 shares of the company’s stock worth $2,688,000 after acquiring an additional 270 shares during the period. Vident Investment Advisory LLC increased its position in Boston Beer by 1.5% during the second quarter. Vident Investment Advisory LLC now owns 18,677 shares of the company’s stock worth $5,597,000 after acquiring an additional 279 shares during the period. Finally, ARP Americas LP increased its position in Boston Beer by 12.5% during the third quarter. ARP Americas LP now owns 2,958 shares of the company’s stock worth $850,000 after acquiring an additional 329 shares during the period. 74.49% of the stock is currently owned by institutional investors and hedge funds.

Shares of Boston Beer stock opened at $265.90 on Friday. The firm has a market capitalization of $3.14 billion, a price-to-earnings ratio of 41.52, a price-to-earnings-growth ratio of 3.65 and a beta of 0.51. Boston Beer Company Inc has a 52-week low of $160.40 and a 52-week high of $329.95.

Boston Beer (NYSE:SAM) last announced its quarterly earnings results on Thursday, October 25th. The company reported $3.21 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.35 by ($0.14). The business had revenue of $326.85 million during the quarter, compared to the consensus estimate of $270.60 million. Boston Beer had a net margin of 10.17% and a return on equity of 18.00%. On average, equities research analysts forecast that Boston Beer Company Inc will post 7.48 earnings per share for the current fiscal year.

In other news, VP Quincy B. Troupe sold 700 shares of the company’s stock in a transaction dated Tuesday, October 30th. The shares were sold at an average price of $298.80, for a total value of $209,160.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman C James Koch sold 5,000 shares of the company’s stock in a transaction dated Monday, September 17th. The stock was sold at an average price of $316.39, for a total transaction of $1,581,950.00. The disclosure for this sale can be found here. Insiders sold a total of 36,225 shares of company stock worth $10,946,210 in the last three months. Insiders own 29.20% of the company’s stock.

SAM has been the topic of a number of research reports. Zacks Investment Research raised shares of Boston Beer from a “sell” rating to a “hold” rating in a research report on Monday, October 1st. Guggenheim initiated coverage on shares of Boston Beer in a research report on Thursday, September 13th. They set a “buy” rating and a $381.00 target price on the stock. ValuEngine raised shares of Boston Beer from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 31st. Berenberg Bank set a $290.00 target price on shares of Boston Beer and gave the stock a “hold” rating in a research report on Tuesday, September 11th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $270.00 target price on shares of Boston Beer in a research report on Friday, October 26th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $271.67.

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Boston Beer Profile

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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Institutional Ownership by Quarter for Boston Beer (NYSE:SAM)

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