Freestone Grove Partners LP Purchases Shares of 71,377 The Boston Beer Company, Inc. (NYSE:SAM)

Freestone Grove Partners LP purchased a new position in The Boston Beer Company, Inc. (NYSE:SAM - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 71,377 shares of the company's stock, valued at approximately $21,412,000. Freestone Grove Partners LP owned approximately 0.62% of Boston Beer as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SAM. T. Rowe Price Investment Management Inc. raised its holdings in shares of Boston Beer by 4.4% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 703,480 shares of the company's stock worth $211,030,000 after buying an additional 29,412 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Boston Beer by 19.8% during 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 during the period. Dimensional Fund Advisors LP boosted its stake in shares of Boston Beer by 9.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 225,762 shares of the company's stock valued at $67,723,000 after purchasing an additional 19,063 shares in the last quarter. Fisher Asset Management LLC grew its holdings in shares of Boston Beer by 27.1% in the 4th quarter. Fisher Asset Management LLC now owns 160,419 shares of the company's stock worth $48,122,000 after purchasing an additional 34,176 shares during the last quarter. Finally, Southernsun Asset Management LLC increased its position in shares of Boston Beer by 1.6% during the 4th quarter. Southernsun Asset Management LLC now owns 121,972 shares of the company's stock worth $36,589,000 after purchasing an additional 1,864 shares in the last quarter. Institutional investors own 81.13% of the company's stock.

Wall Street Analysts Forecast Growth

SAM has been the subject of a number of research analyst reports. Berenberg Bank initiated coverage on shares of Boston Beer in a research note on Wednesday, April 2nd. They issued a "hold" rating and a $281.10 target price for the company. UBS Group upped their target price on shares of Boston Beer from $265.00 to $279.00 and gave the stock a "neutral" rating in a research report on Thursday, April 17th. Morgan Stanley lowered their price target on shares of Boston Beer from $290.00 to $270.00 and set an "equal weight" rating for the company in a report on Wednesday, February 26th. Citigroup upped their price objective on Boston Beer from $280.00 to $285.00 and gave the stock a "buy" rating in a report on Monday, April 14th. Finally, Cfra Research raised Boston Beer from a "moderate sell" rating to a "moderate buy" rating in a research note on Thursday, April 24th. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $286.12.

Boston Beer Trading Up 1.0 %

Shares of SAM stock traded up $2.41 on Monday, reaching $241.97. The company had a trading volume of 134,485 shares, compared to its average volume of 171,002. The company has a 50-day moving average of $238.15 and a 200-day moving average of $267.45. The Boston Beer Company, Inc. has a 12 month low of $215.10 and a 12 month high of $339.77. The stock has a market cap of $2.72 billion, a PE ratio of 35.58, a PEG ratio of 1.23 and a beta of 1.26.

Boston Beer (NYSE:SAM - Get Free Report) last posted its earnings results on Thursday, April 24th. The company reported $2.16 earnings per share for the quarter, topping the consensus estimate of $0.78 by $1.38. Boston Beer had a net margin of 3.82% and a return on equity of 11.76%. The company had revenue of $481.36 million for the quarter, compared to analyst estimates of $436.27 million. During the same period last year, the business posted $1.04 earnings per share. The business's revenue for the quarter was up 6.5% compared to the same quarter last year. Sell-side analysts anticipate that The Boston Beer Company, Inc. will post 9.29 earnings per share for the current year.

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 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.