Boston Beer (NYSE:SAM) Releases Quarterly Earnings Results, Beats Expectations By $0.20 EPS

Boston Beer (NYSE:SAM) posted its quarterly earnings results on Tuesday. The company reported ($2.12) EPS for the quarter, topping analysts’ consensus estimates of ($2.32) by $0.20, FiscalAI reports. Boston Beer had a net margin of 4.38% and a return on equity of 12.29%. The company had revenue of $385.68 million for the quarter, compared to analysts’ expectations of $381.75 million.

Boston Beer Trading Up 1.6%

Shares of SAM stock traded up $3.53 during trading hours on Tuesday, reaching $227.69. The stock had a trading volume of 190,566 shares, compared to its average volume of 166,016. The stock’s fifty day simple moving average is $216.07 and its 200 day simple moving average is $213.81. The firm has a market capitalization of $2.43 billion, a PE ratio of 26.85, a PEG ratio of 1.71 and a beta of 1.03. Boston Beer has a 12 month low of $185.34 and a 12 month high of $260.00.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SAM. AQR Capital Management LLC raised its position in shares of Boston Beer by 340.4% in the third quarter. AQR Capital Management LLC now owns 647,060 shares of the company’s stock worth $136,801,000 after buying an additional 500,120 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Boston Beer by 5.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 271,516 shares of the company’s stock worth $52,981,000 after acquiring an additional 13,113 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Boston Beer by 1.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 265,779 shares of the company’s stock worth $56,191,000 after acquiring an additional 3,336 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Boston Beer by 1.9% in the 4th quarter. Invesco Ltd. now owns 117,112 shares of the company’s stock valued at $22,852,000 after acquiring an additional 2,223 shares in the last quarter. Finally, Qube Research & Technologies Ltd boosted its position in shares of Boston Beer by 278.0% during the 2nd quarter. Qube Research & Technologies Ltd now owns 112,507 shares of the company’s stock valued at $21,467,000 after acquiring an additional 82,742 shares during the last quarter. 81.13% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Royal Bank Of Canada restated a “sector perform” rating and issued a $245.00 target price on shares of Boston Beer in a research note on Friday. UBS Group restated a “neutral” rating on shares of Boston Beer in a research note on Monday. Citigroup dropped their price objective on shares of Boston Beer from $250.00 to $220.00 and set a “neutral” rating on the stock in a report on Wednesday, December 17th. Weiss Ratings upgraded shares of Boston Beer from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, February 6th. Finally, Piper Sandler lowered their price target on shares of Boston Beer from $230.00 to $220.00 and set a “neutral” rating on the stock in a research report on Friday, November 21st. One research analyst has rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $244.19.

Boston Beer Company Profile

The Boston Beer Company, Inc (NYSE: SAM) is a leading craft brewer headquartered in Boston, Massachusetts. Since its founding in 1984 by Jim Koch, the company has focused on producing high-quality, distinctive beers and beverages for retail, on-premise, and distribution partners across the United States. Its operations include brewing, packaging, marketing and distribution, supported by a network of wholly owned brewing facilities and strategic partnerships with regional breweries.

Boston Beer’s flagship brand, Samuel Adams Boston Lager, helped establish the modern U.S.