Savoir Faire Capital Management L.P. Buys 8,585 Shares of The Boston Beer Company, Inc. $SAM

Savoir Faire Capital Management L.P. increased its stake in The Boston Beer Company, Inc. (NYSE:SAM) by 28.4% in the third quarter, Holdings Channel.com reports. The institutional investor owned 38,825 shares of the company’s stock after acquiring an additional 8,585 shares during the period. Boston Beer comprises 2.9% of Savoir Faire Capital Management L.P.’s holdings, making the stock its 14th largest position. Savoir Faire Capital Management L.P.’s holdings in Boston Beer were worth $8,208,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of SAM. Calamos Advisors LLC boosted its position in shares of Boston Beer by 12.1% during the third quarter. Calamos Advisors LLC now owns 65,364 shares of the company’s stock valued at $13,819,000 after purchasing an additional 7,035 shares in the last quarter. Acadian Asset Management LLC purchased a new position in Boston Beer during the second quarter valued at $12,795,000. SG Americas Securities LLC boosted its holdings in shares of Boston Beer by 835.1% during the 3rd quarter. SG Americas Securities LLC now owns 5,667 shares of the company’s stock valued at $1,198,000 after buying an additional 5,061 shares in the last quarter. Franklin Resources Inc. grew its position in shares of Boston Beer by 32.7% in the 2nd quarter. Franklin Resources Inc. now owns 24,133 shares of the company’s stock worth $4,605,000 after buying an additional 5,943 shares during the period. Finally, American Century Companies Inc. grew its position in shares of Boston Beer by 159.0% in the 2nd quarter. American Century Companies Inc. now owns 90,652 shares of the company’s stock worth $17,298,000 after buying an additional 55,645 shares during the period. 81.13% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on SAM shares. UBS Group dropped their price objective on shares of Boston Beer from $246.00 to $234.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 14th. Jefferies Financial Group cut their price target on Boston Beer from $230.00 to $225.00 and set a “hold” rating on the stock in a research note on Tuesday, September 30th. Piper Sandler lowered their price objective on Boston Beer from $230.00 to $220.00 and set a “neutral” rating for the company in a research note on Friday, November 21st. Weiss Ratings reissued a “sell (d+)” rating on shares of Boston Beer in a report on Thursday. Finally, Citigroup dropped their price target on shares of Boston Beer from $250.00 to $220.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 17th. One investment analyst has rated the stock with a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $247.28.

Boston Beer Stock Performance

Shares of NYSE:SAM opened at $220.54 on Monday. The firm has a market cap of $2.35 billion, a price-to-earnings ratio of 26.01, a price-to-earnings-growth ratio of 1.60 and a beta of 1.04. The business has a 50-day simple moving average of $200.93 and a two-hundred day simple moving average of $209.79. The Boston Beer Company, Inc. has a fifty-two week low of $185.34 and a fifty-two week high of $260.00.

Boston Beer (NYSE:SAM) last released its quarterly earnings data on Thursday, October 23rd. The company reported $4.25 earnings per share for the quarter, beating the consensus estimate of $3.78 by $0.47. Boston Beer had a net margin of 4.38% and a return on equity of 12.29%. The firm had revenue of $537.49 million during the quarter, compared to analysts’ expectations of $542.97 million. During the same period in the previous year, the company earned $2.86 earnings per share. The firm’s quarterly revenue was down 11.2% on a year-over-year basis. As a group, research analysts predict that The Boston Beer Company, Inc. will post 9.29 earnings per share for the current year.

Insider Buying and Selling at Boston Beer

In other news, Director Michael Spillane sold 3,120 shares of the firm’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $205.78, for a total value of $642,033.60. Following the transaction, the director directly owned 10,877 shares in the company, valued at $2,238,269.06. This trade represents a 22.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 26.10% of the stock is owned by insiders.

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.