T. Rowe Price Investment Management Inc. Raises Stock Holdings in The Boston Beer Company, Inc. (NYSE:SAM)

T. Rowe Price Investment Management Inc. increased its holdings in The Boston Beer Company, Inc. (NYSE:SAM - Free Report) by 4.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 703,480 shares of the company's stock after buying an additional 29,412 shares during the quarter. T. Rowe Price Investment Management Inc. owned 6.13% of Boston Beer worth $211,030,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Stifel Financial Corp raised its position in shares of Boston Beer by 15.5% during the third quarter. Stifel Financial Corp now owns 1,480 shares of the company's stock valued at $428,000 after buying an additional 199 shares during the last quarter. Barclays PLC lifted its stake in Boston Beer by 44.2% in the 3rd quarter. Barclays PLC now owns 12,988 shares of the company's stock worth $3,753,000 after purchasing an additional 3,983 shares in the last quarter. Sanctuary Advisors LLC boosted its holdings in shares of Boston Beer by 176.3% during the 3rd quarter. Sanctuary Advisors LLC now owns 2,078 shares of the company's stock valued at $650,000 after purchasing an additional 1,326 shares during the last quarter. Tidal Investments LLC purchased a new position in shares of Boston Beer during the third quarter valued at about $299,000. Finally, Franklin Resources Inc. increased its holdings in shares of Boston Beer by 10.1% in the third quarter. Franklin Resources Inc. now owns 15,389 shares of the company's stock worth $4,239,000 after purchasing an additional 1,406 shares during the last quarter. Institutional investors own 81.13% of the company's stock.

Boston Beer Trading Up 2.9 %

Shares of SAM traded up $7.05 during mid-day trading on Friday, hitting $249.45. The company's stock had a trading volume of 382,469 shares, compared to its average volume of 171,869. The company's 50-day moving average is $236.77 and its 200-day moving average is $268.86. The Boston Beer Company, Inc. has a 52-week low of $215.10 and a 52-week high of $339.77. The firm has a market capitalization of $2.80 billion, a price-to-earnings ratio of 36.68, a PEG ratio of 1.23 and a beta of 1.26.

Boston Beer (NYSE:SAM - Get Free Report) last posted its earnings results on Thursday, April 24th. The company reported $2.16 earnings per share for the quarter, topping analysts' consensus estimates of $0.78 by $1.38. Boston Beer had a return on equity of 11.76% and a net margin of 3.82%. The company had revenue of $481.36 million during the quarter, compared to analyst estimates of $436.27 million. As a group, sell-side analysts predict that The Boston Beer Company, Inc. will post 9.29 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Cfra Research upgraded shares of Boston Beer from a "moderate sell" rating to a "moderate buy" rating in a research report on Thursday. StockNews.com raised Boston Beer from a "hold" rating to a "buy" rating in a research note on Friday. Piper Sandler cut their target price on Boston Beer from $240.00 to $230.00 and set a "neutral" rating on the stock in a research report on Thursday, April 17th. Royal Bank of Canada restated a "sector perform" rating and issued a $279.00 price target on shares of Boston Beer in a research report on Tuesday. Finally, Morgan Stanley cut their price objective on shares of Boston Beer from $290.00 to $270.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 26th. Nine analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $290.01.

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.