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

Price T Rowe Associates Inc. MD lessened its holdings in The Boston Beer Company, Inc. (NYSE:SAM - Free Report) by 26.3% during the 4th quarter, according to its most recent 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 quarter. Price T Rowe Associates Inc. MD owned 0.06% of Boston Beer worth $1,994,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Norges Bank acquired a new stake in shares of Boston Beer during the 4th quarter valued at about $30,741,000. Cooper Creek Partners Management LLC bought a new position in Boston Beer during the fourth quarter worth about $25,054,000. Global Alpha Capital Management Ltd. acquired a new stake in Boston Beer during the fourth quarter valued at approximately $23,349,000. Fisher Asset Management LLC boosted its holdings in Boston Beer by 27.1% during the fourth quarter. Fisher Asset Management LLC now owns 160,419 shares of the company's stock valued at $48,122,000 after purchasing an additional 34,176 shares in the last quarter. Finally, Wealthfront Advisers LLC bought a new stake in shares of Boston Beer in the 4th quarter valued at approximately $6,528,000. Institutional investors and hedge funds own 81.13% of the company's stock.

Boston Beer Stock Performance

Shares of NYSE SAM traded down $1.54 during trading on Tuesday, reaching $241.77. The company had a trading volume of 22,457 shares, compared to its average volume of 166,997. The Boston Beer Company, Inc. has a 52 week low of $215.10 and a 52 week high of $339.77. The business's 50 day moving average price is $238.21 and its 200-day moving average price is $265.13. The stock has a market cap of $2.69 billion, a PE ratio of 35.55, a PEG ratio of 1.23 and a beta of 1.14.

Boston Beer (NYSE:SAM - Get Free Report) last posted its quarterly earnings data 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. The firm had revenue of $481.36 million during the quarter, compared to analysts' expectations 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 was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.04 EPS. Equities analysts anticipate that The Boston Beer Company, Inc. will post 9.29 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently commented on SAM shares. UBS Group boosted their price target on Boston Beer from $265.00 to $279.00 and gave the company a "neutral" rating in a research note on Thursday, April 17th. Royal Bank of Canada restated a "sector perform" rating and issued a $279.00 target price on shares of Boston Beer in a research note on Tuesday, April 22nd. Morgan Stanley lowered their target price on shares of Boston Beer from $290.00 to $270.00 and set an "equal weight" rating on the stock 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. Finally, Berenberg Bank initiated coverage on shares of Boston Beer in a research report on Wednesday, April 2nd. They issued a "hold" rating and a $281.10 price target on the stock. Eight analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $286.12.

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.