71,377 Shares in The Boston Beer Company, Inc. (NYSE:SAM) Acquired by Freestone Grove Partners LP

Freestone Grove Partners LP acquired a new stake in The Boston Beer Company, Inc. (NYSE:SAM - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 71,377 shares of the company's stock, valued at approximately $21,412,000. Freestone Grove Partners LP owned about 0.62% of Boston Beer at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Norges Bank bought a new position in shares of Boston Beer during the 4th quarter worth approximately $30,741,000. Cooper Creek Partners Management LLC bought a new position in Boston Beer during the fourth quarter worth $25,054,000. Global Alpha Capital Management Ltd. bought a new stake in shares of Boston Beer during the 4th quarter worth about $23,349,000. AQR Capital Management LLC raised its holdings in Boston Beer by 19.8% in the 4th 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. Finally, Fisher Asset Management LLC increased its stake in shares of 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 purchasing an additional 34,176 shares during the period. 81.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently weighed in on SAM. Piper Sandler cut their price target on shares of Boston Beer from $240.00 to $230.00 and set a "neutral" rating for the company in a report on Thursday, April 17th. Morgan Stanley dropped their target price 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. Needham & Company LLC reiterated a "hold" rating on shares of Boston Beer in a research report on Friday, April 25th. UBS Group boosted their target price on shares of Boston Beer from $265.00 to $279.00 and gave the stock a "neutral" rating in a research note on Thursday, April 17th. Finally, Citigroup increased their price target on Boston Beer from $280.00 to $285.00 and gave the company a "buy" rating in a research note on Monday, April 14th. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $286.12.

Boston Beer Price Performance

Shares of SAM stock traded down $0.82 on Wednesday, hitting $241.02. The stock had a trading volume of 21,945 shares, compared to its average volume of 207,970. The stock has a market cap of $2.69 billion, a price-to-earnings ratio of 35.44, a price-to-earnings-growth ratio of 1.23 and a beta of 1.14. The Boston Beer Company, Inc. has a 12-month low of $215.10 and a 12-month high of $339.77. The business has a 50 day moving average of $238.14 and a 200 day moving average of $266.88.

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

Boston Beer Company 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.