Principal Financial Group Inc. Grows Holdings in The Boston Beer Company, Inc. (NYSE:SAM)

Principal Financial Group Inc. lifted its stake in shares of The Boston Beer Company, Inc. (NYSE:SAM) by 0.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 19,912 shares of the company’s stock after purchasing an additional 79 shares during the period. Principal Financial Group Inc. owned about 0.18% of Boston Beer worth $4,756,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Rossby Financial LCC bought a new position in Boston Beer during the first quarter valued at about $25,000. EverSource Wealth Advisors LLC raised its stake in shares of Boston Beer by 2,225.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 93 shares of the company’s stock valued at $28,000 after acquiring an additional 89 shares in the last quarter. GeoWealth Management LLC acquired a new stake in shares of Boston Beer in the fourth quarter valued at about $35,000. First Horizon Advisors Inc. increased its holdings in shares of Boston Beer by 24.4% during the 1st quarter. First Horizon Advisors Inc. now owns 214 shares of the company’s stock worth $51,000 after purchasing an additional 42 shares during the period. Finally, True Wealth Design LLC increased its holdings in Boston Beer by 44.1% in the 4th quarter. True Wealth Design LLC now owns 232 shares of the company’s stock valued at $70,000 after buying an additional 71 shares during the period. 81.13% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Needham & Company LLC restated a “hold” rating on shares of Boston Beer in a research report on Friday, April 25th. UBS Group decreased their price objective on shares of Boston Beer from $275.00 to $214.00 and set a “neutral” rating for the company in a research report on Thursday. Berenberg Bank began coverage on shares of Boston Beer in a research note on Wednesday, April 2nd. They issued a “hold” rating and a $281.10 price target on the stock. Cfra Research upgraded Boston Beer from a “moderate sell” rating to a “moderate buy” rating in a research report on Thursday, April 24th. Finally, Citigroup lowered their price objective on shares of Boston Beer from $285.00 to $230.00 and set a “buy” rating for the company in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $261.10.

Boston Beer Stock Performance

Shares of NYSE SAM opened at $194.68 on Friday. The Boston Beer Company, Inc. has a 52-week low of $185.34 and a 52-week high of $329.55. The firm’s 50 day moving average price is $214.47 and its 200-day moving average price is $234.08. The company has a market cap of $2.17 billion, a PE ratio of 32.28, a P/E/G ratio of 1.42 and a beta of 0.99.

Boston Beer (NYSE:SAM) last announced its earnings results on Thursday, April 24th. The company reported $2.16 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $1.38. The business had revenue of $481.36 million during the quarter, compared to analysts’ expectations of $436.27 million. Boston Beer had a net margin of 3.30% and a return on equity of 13.81%. The firm’s revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the company earned $1.04 earnings per share. On average, analysts forecast that The Boston Beer Company, Inc. will post 9.29 earnings per share for the current fiscal year.

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.