The Boston Beer Company, Inc. (NYSE:SAM) Shares Sold by Profit Investment Management LLC

Profit Investment Management LLC trimmed its position in shares of The Boston Beer Company, Inc. (NYSE:SAM - Free Report) by 33.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,235 shares of the company's stock after selling 1,613 shares during the quarter. Profit Investment Management LLC's holdings in Boston Beer were worth $773,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of SAM. T. Rowe Price Investment Management Inc. lifted its position in shares of Boston Beer by 4.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 703,480 shares of the company's stock valued at $211,030,000 after acquiring an additional 29,412 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Boston Beer by 19.8% in the fourth quarter. AQR Capital Management LLC now owns 422,217 shares of the company's stock valued at $125,821,000 after acquiring an additional 69,778 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Boston Beer by 9.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 225,762 shares of the company's stock valued at $67,723,000 after acquiring an additional 19,063 shares in the last quarter. Fisher Asset Management LLC lifted its position in Boston Beer by 27.1% during the fourth quarter. Fisher Asset Management LLC now owns 160,419 shares of the company's stock worth $48,122,000 after buying an additional 34,176 shares during the period. Finally, Southernsun Asset Management LLC lifted its position in Boston Beer by 1.6% during the fourth quarter. Southernsun Asset Management LLC now owns 121,972 shares of the company's stock worth $36,589,000 after buying an additional 1,864 shares during the period. 81.13% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SAM has been the topic of several recent analyst reports. Roth Mkm reiterated a "buy" rating and set a $349.00 target price (down from $389.00) on shares of Boston Beer in a research report on Wednesday, February 26th. Citigroup increased their target price on Boston Beer from $280.00 to $285.00 and gave the stock a "buy" rating in a research report on Monday, April 14th. Piper Sandler reduced their target price on Boston Beer from $240.00 to $230.00 and set a "neutral" rating on the stock in a research report on Thursday, April 17th. UBS Group upped their price target on Boston Beer from $265.00 to $279.00 and gave the stock a "neutral" rating in a research note on Thursday, April 17th. Finally, Royal Bank of Canada restated a "sector perform" rating and issued a $279.00 price objective on shares of Boston Beer in a report on Tuesday, April 22nd. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $286.12.

Boston Beer Trading Down 2.9%

NYSE SAM traded down $6.48 during mid-day trading on Thursday, reaching $220.33. 47,281 shares of the company's stock traded hands, compared to its average volume of 154,891. The Boston Beer Company, Inc. has a 1-year low of $215.10 and a 1-year high of $329.55. The company has a fifty day simple moving average of $239.38 and a 200-day simple moving average of $257.35. The company has a market cap of $2.46 billion, a price-to-earnings ratio of 32.40, a P/E/G ratio of 1.23 and a beta of 1.14.

Boston Beer (NYSE:SAM - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The company reported $2.16 earnings per share for the quarter, beating analysts' consensus estimates of $0.78 by $1.38. The firm had revenue of $481.36 million during the quarter, compared to analyst estimates of $436.27 million. Boston Beer had a return on equity of 11.76% and a net margin of 3.82%. Boston Beer's quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.04 EPS. Equities research analysts forecast that The Boston Beer Company, Inc. will post 9.29 earnings per share 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 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.