T. Rowe Price Investment Management Inc. Has $12.59 Million Stake in The Boston Beer Company, Inc. $SAM

T. Rowe Price Investment Management Inc. trimmed its holdings in shares of The Boston Beer Company, Inc. (NYSE:SAM) by 92.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 52,713 shares of the company’s stock after selling 650,767 shares during the quarter. T. Rowe Price Investment Management Inc. owned about 0.47% of Boston Beer worth $12,590,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Asset Management Group Inc. increased its position in Boston Beer by 3.3% during the first quarter. Asset Management Group Inc. now owns 6,720 shares of the company’s stock worth $1,605,000 after buying an additional 213 shares during the last quarter. Hsbc Holdings PLC increased its position in Boston Beer by 718.2% during the first quarter. Hsbc Holdings PLC now owns 11,799 shares of the company’s stock worth $2,818,000 after buying an additional 10,357 shares during the last quarter. Quantbot Technologies LP acquired a new position in Boston Beer during the first quarter worth $3,489,000. Northern Trust Corp increased its position in Boston Beer by 7.6% during the first quarter. Northern Trust Corp now owns 86,791 shares of the company’s stock worth $20,729,000 after buying an additional 6,159 shares during the last quarter. Finally, Elequin Capital LP acquired a new position in Boston Beer during the first quarter worth $30,000. 81.13% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have commented on SAM. The Goldman Sachs Group lowered their target price on shares of Boston Beer from $219.00 to $187.00 and set a “sell” rating on the stock in a research report on Monday, June 23rd. Morgan Stanley decreased their price target on shares of Boston Beer from $270.00 to $245.00 and set an “equal weight” rating for the company in a report on Friday, July 25th. Citigroup decreased their price target on shares of Boston Beer from $285.00 to $230.00 and set a “buy” rating for the company in a report on Tuesday, July 15th. Evercore ISI decreased their price target on shares of Boston Beer from $275.00 to $250.00 and set an “in-line” rating for the company in a report on Friday, July 25th. Finally, Wall Street Zen cut shares of Boston Beer from a “buy” rating to a “hold” rating in a report on Friday, June 27th. Two analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $258.09.

Boston Beer Stock Performance

NYSE SAM opened at $223.8030 on Monday. The firm has a 50-day simple moving average of $205.65 and a 200 day simple moving average of $224.93. The Boston Beer Company, Inc. has a twelve month low of $185.34 and a twelve month high of $329.55. The stock has a market cap of $2.50 billion, a PE ratio of 31.57, a PEG ratio of 1.91 and a beta of 0.84.

Boston Beer (NYSE:SAM) last released its earnings results on Thursday, July 24th. The company reported $5.45 earnings per share for the quarter, beating the consensus estimate of $4.37 by $1.08. Boston Beer had a net margin of 3.65% and a return on equity of 15.15%. The business had revenue of $587.95 million during the quarter, compared to analysts’ expectations of $599.18 million. During the same quarter last year, the company earned $4.39 earnings per share. The firm’s revenue was up 1.5% on a year-over-year basis. Boston Beer has set its FY 2025 guidance at 8.000-10.500 EPS. Research analysts forecast that The Boston Beer Company, Inc. will post 9.29 earnings per share for the current fiscal year.

Insider Buying and Selling at Boston Beer

In related news, VP Annette N. Fritsch sold 600 shares of the stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $219.24, for a total value of $131,544.00. Following the completion of the sale, the vice president owned 9,715 shares in the company, valued at approximately $2,129,916.60. This trade represents a 5.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 26.10% of the company’s stock.

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.