The Boston Beer Company, Inc. $SAM Shares Sold by T. Rowe Price Investment Management Inc.

Key Points

• T. Rowe Price Investment Management Inc. significantly reduced its stake in The Boston Beer Company by 92.5%, selling 650,767 shares and now holds 52,713 shares valued at approximately $12.59 million.
• Multiple hedge funds have adjusted their positions in Boston Beer, with significant increases from firms like Hsbc Holdings PLC (up 718.2%) and Northern Trust Corp (up 7.6%).
• Analysts have lowered price targets for Boston Beer, with Goldman Sachs reducing theirs from $219 to $187 and giving a "sell" rating, while the stock currently has a consensus rating of "Hold" with an average target price of $258.09.

T. Rowe Price Investment Management Inc. reduced its stake in shares of The Boston Beer Company, Inc. (NYSE:SAM - Free Report) by 92.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 52,713 shares of the company's stock after selling 650,767 shares during the period. T. Rowe Price Investment Management Inc. owned 0.47% of Boston Beer worth $12,590,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SAM. Rossby Financial LCC bought a new stake in Boston Beer during the 1st quarter valued at approximately $25,000. Elequin Capital LP bought a new position in shares of Boston Beer during the 1st quarter valued at approximately $30,000. GeoWealth Management LLC purchased a new position in Boston Beer during the 4th quarter valued at $35,000. Caitong International Asset Management Co. Ltd purchased a new position in Boston Beer during the 1st quarter valued at $44,000. Finally, First Horizon Advisors Inc. lifted its holdings in shares of Boston Beer by 24.4% in the 1st quarter. First Horizon Advisors Inc. now owns 214 shares of the company's stock worth $51,000 after buying an additional 42 shares during the period. Institutional investors own 81.13% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Evercore ISI dropped their price objective on Boston Beer from $275.00 to $250.00 and set an "in-line" rating on the stock in a research report on Friday, July 25th. UBS Group decreased their target price on Boston Beer from $275.00 to $214.00 and set a "neutral" rating for the company in a report on Thursday, July 17th. Sanford C. Bernstein set a $230.00 target price on Boston Beer and gave the stock a "market perform" rating in a report on Monday, July 28th. Wall Street Zen cut Boston Beer from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Finally, The Goldman Sachs Group reduced their price target on Boston Beer from $219.00 to $187.00 and set a "sell" rating for the company in a research report on Monday, June 23rd. Two equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Boston Beer presently has an average rating of "Hold" and an average target price of $258.09.

Boston Beer Stock Performance

Shares of SAM traded up $5.71 during trading hours on Friday, hitting $222.12. 156,516 shares of the stock were exchanged, compared to its average volume of 222,642. The stock's 50-day moving average price is $206.79 and its two-hundred day moving average price is $224.58. The company has a market cap of $2.48 billion, a price-to-earnings ratio of 31.36, a price-to-earnings-growth ratio of 1.89 and a beta of 0.84. The Boston Beer Company, Inc. has a 12-month low of $185.34 and a 12-month high of $329.55.

Boston Beer (NYSE:SAM - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The company reported $5.45 earnings per share for the quarter, topping analysts' consensus estimates of $4.37 by $1.08. The company had revenue of $587.95 million for the quarter, compared to analyst estimates of $599.18 million. Boston Beer had a return on equity of 15.15% and a net margin of 3.65%.The firm's revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.39 earnings per share. Boston Beer has set its FY 2025 guidance at 8.000-10.500 EPS. On average, research analysts expect that The Boston Beer Company, Inc. will post 9.29 earnings per share for the current year.

Insiders Place Their Bets

In other Boston Beer news, VP Annette N. Fritsch sold 600 shares of the business's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $219.24, for a total transaction of $131,544.00. Following the transaction, the vice president owned 9,715 shares of the company's stock, valued at approximately $2,129,916.60. The trade was a 5.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 26.10% of the company's stock.

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 offers various beers, hard ciders, flavored malt beverages, and hard seltzers under the Samuel Adams, Twisted Tea, Truly, Angry Orchard, Dogfish Head, Angel City, and Coney Island brand names.