Franklin Resources Inc. Acquires 1,985 Shares of The Boston Beer Company, Inc. (NYSE:SAM)

Franklin Resources Inc. increased its holdings in The Boston Beer Company, Inc. (NYSE:SAMFree Report) by 299.4% during the 4th quarter, HoldingsChannel reports. The firm owned 2,648 shares of the company’s stock after buying an additional 1,985 shares during the period. Franklin Resources Inc.’s holdings in Boston Beer were worth $915,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Covestor Ltd increased its position in Boston Beer by 88.4% in the third quarter. Covestor Ltd now owns 81 shares of the company’s stock worth $32,000 after purchasing an additional 38 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new stake in Boston Beer in the third quarter worth $59,000. CWM LLC increased its position in Boston Beer by 17.6% during the fourth quarter. CWM LLC now owns 227 shares of the company’s stock valued at $78,000 after acquiring an additional 34 shares during the last quarter. Principal Securities Inc. bought a new position in Boston Beer during the fourth quarter valued at $82,000. Finally, Quest Partners LLC bought a new position in Boston Beer during the fourth quarter valued at $129,000. Institutional investors own 81.13% of the company’s stock.

Insider Activity at Boston Beer

In related news, insider Carolyn L. O’boyle sold 101 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $303.49, for a total value of $30,652.49. Following the completion of the transaction, the insider now directly owns 7,029 shares of the company’s stock, valued at approximately $2,133,231.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 23.30% of the stock is currently owned by insiders.

Boston Beer Stock Performance

NYSE:SAM opened at $294.78 on Friday. The Boston Beer Company, Inc. has a fifty-two week low of $254.40 and a fifty-two week high of $395.52. The stock has a market capitalization of $3.52 billion, a P/E ratio of 36.99, a P/E/G ratio of 1.12 and a beta of 1.09. The company’s 50-day simple moving average is $283.78 and its 200-day simple moving average is $319.60.

Boston Beer (NYSE:SAMGet Free Report) last announced its quarterly earnings data on Thursday, April 25th. The company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.08 by $0.96. The firm had revenue of $426.05 million during the quarter, compared to analyst estimates of $414.18 million. Boston Beer had a net margin of 4.60% and a return on equity of 10.11%. On average, research analysts forecast that The Boston Beer Company, Inc. will post 10.31 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Royal Bank of Canada reiterated a “sector perform” rating and set a $337.00 price objective on shares of Boston Beer in a research report on Wednesday, February 28th. Citigroup lowered their target price on shares of Boston Beer from $350.00 to $315.00 and set a “neutral” rating for the company in a research note on Tuesday, April 16th. Piper Sandler began coverage on shares of Boston Beer in a research note on Friday, March 22nd. They set an “overweight” rating and a $350.00 target price for the company. Evercore ISI boosted their target price on shares of Boston Beer from $310.00 to $325.00 and gave the company an “in-line” rating in a research note on Friday, April 26th. Finally, StockNews.com lowered shares of Boston Beer from a “buy” rating to a “hold” rating in a research note on Monday. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Boston Beer currently has an average rating of “Hold” and a consensus price target of $335.00.

Read Our Latest Stock Report on SAM

Boston Beer Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Boston Beer (NYSE:SAM)

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