Franklin Resources Inc. Has $1.07 Million Stock Holdings in The Boston Beer Company, Inc. (NYSE:SAM)

Franklin Resources Inc. lowered its stake in The Boston Beer Company, Inc. (NYSE:SAM - Free Report) by 76.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,564 shares of the company's stock after selling 11,825 shares during the quarter. Franklin Resources Inc.'s holdings in Boston Beer were worth $1,069,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. State Street Corp grew its position in shares of Boston Beer by 7.8% in the third quarter. State Street Corp now owns 292,643 shares of the company's stock valued at $84,615,000 after purchasing an additional 21,276 shares during the period. Fisher Asset Management LLC increased its position in shares of Boston Beer by 27.1% in the fourth quarter. Fisher Asset Management LLC now owns 160,419 shares of the company's stock worth $48,122,000 after acquiring an additional 34,176 shares in the last quarter. Norges Bank acquired a new stake in Boston Beer during the 4th quarter valued at $30,741,000. Charles Schwab Investment Management Inc. increased its position in shares of Boston Beer by 5.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 94,356 shares of the company's stock worth $28,305,000 after acquiring an additional 4,675 shares during the last quarter. Finally, Global Alpha Capital Management Ltd. acquired a new stake in shares of Boston Beer during the fourth quarter worth approximately $23,349,000. Institutional investors and hedge funds own 81.13% of the company's stock.

Boston Beer Stock Up 0.2 %

NYSE:SAM traded up $0.56 during trading hours on Friday, reaching $238.98. The company had a trading volume of 147,457 shares, compared to its average volume of 171,760. The stock has a 50-day moving average of $235.44 and a two-hundred day moving average of $270.07. The Boston Beer Company, Inc. has a one year low of $215.10 and a one year high of $339.77. The firm has a market capitalization of $2.69 billion, a PE ratio of 35.14, a PEG ratio of 1.23 and a beta of 1.26.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Citigroup raised their price target on shares of Boston Beer from $280.00 to $285.00 and gave the stock a "buy" rating in a research report on Monday, April 14th. UBS Group raised their price objective on shares of Boston Beer from $265.00 to $279.00 and gave the company a "neutral" rating in a research note on Thursday. Berenberg Bank assumed coverage on shares of Boston Beer in a research note on Wednesday, April 2nd. They issued a "hold" rating and a $281.10 price objective on the stock. Piper Sandler reduced their target price on shares of Boston Beer from $240.00 to $230.00 and set a "neutral" rating for the company in a report on Thursday. Finally, Roth Mkm reaffirmed 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. Ten equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $293.91.

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.