T. Rowe Price Investment Management Inc. Acquires 29,412 Shares of The Boston Beer Company, Inc. (NYSE:SAM)

T. Rowe Price Investment Management Inc. lifted its holdings in shares of The Boston Beer Company, Inc. (NYSE:SAM - Free Report) by 4.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 703,480 shares of the company's stock after purchasing an additional 29,412 shares during the period. T. Rowe Price Investment Management Inc. owned about 6.13% of Boston Beer worth $211,030,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Dark Forest Capital Management LP bought a new position in shares of Boston Beer during the 4th quarter valued at $231,000. Southernsun Asset Management LLC grew its holdings 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 valued at $36,589,000 after purchasing an additional 1,864 shares during the last quarter. Hsbc Holdings PLC grew its holdings in shares of Boston Beer by 33.8% during the 4th quarter. Hsbc Holdings PLC now owns 1,442 shares of the company's stock valued at $433,000 after purchasing an additional 364 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in Boston Beer by 59.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 618 shares of the company's stock worth $185,000 after acquiring an additional 230 shares during the last quarter. Finally, MetLife Investment Management LLC grew its holdings in Boston Beer by 6.2% in the 4th quarter. MetLife Investment Management LLC now owns 4,929 shares of the company's stock worth $1,479,000 after acquiring an additional 289 shares during the last quarter. Institutional investors own 81.13% of the company's stock.

Boston Beer Stock Performance

Shares of SAM stock traded up $2.60 on Tuesday, reaching $240.61. The stock had a trading volume of 43,100 shares, compared to its average volume of 171,734. The stock has a market cap of $2.71 billion, a P/E ratio of 35.38, a price-to-earnings-growth ratio of 1.23 and a beta of 1.26. The Boston Beer Company, Inc. has a 1 year low of $215.10 and a 1 year high of $339.77. The company has a 50 day simple moving average of $237.02 and a 200 day simple moving average of $268.55.

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

Analysts Set New Price Targets

SAM has been the topic of a number of recent analyst reports. Needham & Company LLC reissued a "hold" rating on shares of Boston Beer in a report on Friday. Roth Mkm reissued a "buy" rating and issued a $349.00 price target (down previously from $389.00) on shares of Boston Beer in a report on Wednesday, February 26th. Royal Bank of Canada reissued a "sector perform" rating and issued a $279.00 price target on shares of Boston Beer in a report on Tuesday, April 22nd. UBS Group raised their price target on shares of Boston Beer from $265.00 to $279.00 and gave the stock a "neutral" rating in a report on Thursday, April 17th. Finally, Piper Sandler dropped their target price on shares of Boston Beer from $240.00 to $230.00 and set a "neutral" rating for the company in a research report on Thursday, April 17th. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $286.12.

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.