Price T Rowe Associates Inc. MD Sells 2,373 Shares of The Boston Beer Company, Inc. (NYSE:SAM)

Price T Rowe Associates Inc. MD cut its position in The Boston Beer Company, Inc. (NYSE:SAM - Free Report) by 26.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,647 shares of the company's stock after selling 2,373 shares during the period. Price T Rowe Associates Inc. MD owned 0.06% of Boston Beer worth $1,994,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SAM. GAMMA Investing LLC increased its holdings in shares of Boston Beer by 59.3% during the fourth quarter. GAMMA Investing LLC now owns 129 shares of the company's stock valued at $39,000 after acquiring an additional 48 shares in the last quarter. First Horizon Advisors Inc. increased its stake in Boston Beer by 42.1% during the 4th quarter. First Horizon Advisors Inc. now owns 172 shares of the company's stock valued at $52,000 after purchasing an additional 51 shares in the last quarter. Exchange Traded Concepts LLC raised its holdings in Boston Beer by 2.5% during the fourth quarter. Exchange Traded Concepts LLC now owns 2,630 shares of the company's stock worth $789,000 after buying an additional 65 shares during the last quarter. Bank of Montreal Can lifted its stake in shares of Boston Beer by 7.3% in the fourth quarter. Bank of Montreal Can now owns 1,001 shares of the company's stock valued at $300,000 after buying an additional 68 shares in the last quarter. Finally, Blue Trust Inc. lifted its position in Boston Beer by 405.6% in the 4th quarter. Blue Trust Inc. now owns 91 shares of the company's stock valued at $26,000 after acquiring an additional 73 shares in the last quarter. 81.13% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on SAM. Needham & Company LLC restated a "hold" rating on shares of Boston Beer in a report on Friday, April 25th. UBS Group raised their price objective on Boston Beer from $265.00 to $279.00 and gave the company a "neutral" rating in a research note on Thursday, April 17th. Cfra Research upgraded shares of Boston Beer from a "moderate sell" rating to a "moderate buy" rating in a research note on Thursday, April 24th. Royal Bank of Canada restated a "sector perform" rating and set a $279.00 price target on shares of Boston Beer in a report on Tuesday, April 22nd. Finally, Piper Sandler decreased their price objective on shares of Boston Beer from $240.00 to $230.00 and set a "neutral" rating for the company in a research note on Thursday, April 17th. Eight investment 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.com, Boston Beer currently has an average rating of "Hold" and an average target price of $286.12.

Boston Beer Stock Down 0.3 %

NYSE SAM opened at $241.22 on Thursday. The company has a market cap of $2.69 billion, a PE ratio of 35.47, a price-to-earnings-growth ratio of 1.23 and a beta of 1.14. The firm's 50-day simple moving average is $238.09 and its two-hundred day simple moving average is $266.70. The Boston Beer Company, Inc. has a 52 week low of $215.10 and a 52 week high of $339.77.

Boston Beer (NYSE:SAM - Get Free Report) last released 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 company had revenue of $481.36 million during the quarter, compared to the consensus estimate of $436.27 million. Boston Beer had a net margin of 3.82% and a return on equity of 11.76%. Boston Beer's revenue for the quarter was up 6.5% on a year-over-year basis. During the same period last year, the firm earned $1.04 EPS. As a group, equities research analysts anticipate that The Boston Beer Company, Inc. will post 9.29 EPS for the current 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.

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