New York State Teachers Retirement System Increases Position in The Boston Beer Company, Inc. (NYSE:SAM)

New York State Teachers Retirement System raised its stake in shares of The Boston Beer Company, Inc. (NYSE:SAM) by 2.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,633 shares of the company’s stock after purchasing an additional 291 shares during the period. New York State Teachers Retirement System owned 0.11% of Boston Beer worth $4,711,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of SAM. Commonwealth Equity Services LLC increased its position in shares of Boston Beer by 2.5% in the third quarter. Commonwealth Equity Services LLC now owns 1,201 shares of the company’s stock worth $388,000 after acquiring an additional 29 shares in the last quarter. Arizona State Retirement System grew its holdings in Boston Beer by 1.2% during the 3rd quarter. Arizona State Retirement System now owns 2,759 shares of the company’s stock valued at $1,075,000 after purchasing an additional 34 shares in the last quarter. Captrust Financial Advisors grew its holdings in Boston Beer by 5.3% during the 2nd quarter. Captrust Financial Advisors now owns 679 shares of the company’s stock valued at $209,000 after purchasing an additional 34 shares in the last quarter. Steward Partners Investment Advisory LLC grew its holdings in Boston Beer by 14.7% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 281 shares of the company’s stock valued at $92,000 after purchasing an additional 36 shares in the last quarter. Finally, Covestor Ltd grew its holdings in Boston Beer by 88.4% during the 3rd quarter. Covestor Ltd now owns 81 shares of the company’s stock valued at $32,000 after purchasing an additional 38 shares in the last quarter. Institutional investors and hedge funds own 81.13% of the company’s stock.

Insider Buying and Selling

In other Boston Beer news, insider Carolyn L. O’boyle sold 101 shares of Boston Beer 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 sale, the insider now directly owns 7,029 shares in the company, valued at $2,133,231.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Boston Beer news, insider Carolyn L. O’boyle sold 101 shares of Boston Beer 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 sale, the insider now directly owns 7,029 shares in the company, valued at $2,133,231.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Carolyn L. O’boyle sold 102 shares of Boston Beer stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $350.72, for a total transaction of $35,773.44. Following the completion of the sale, the insider now owns 2,630 shares of the company’s stock, valued at $922,393.60. The disclosure for this sale can be found here. 23.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on SAM shares. Sanford C. Bernstein raised shares of Boston Beer from an “underperform” rating to a “market perform” rating and raised their price target for the company from $280.00 to $335.00 in a report on Tuesday, January 16th. Morgan Stanley lowered their price target on shares of Boston Beer from $285.00 to $275.00 and set an “underweight” rating for the company in a report on Wednesday, February 28th. Piper Sandler began coverage on shares of Boston Beer in a report on Friday, March 22nd. They set an “overweight” rating and a $350.00 price target for the company. Roth Mkm increased their price objective on shares of Boston Beer from $406.00 to $422.00 and gave the company a “buy” rating in a research note on Tuesday, January 23rd. Finally, The Goldman Sachs Group reduced their price objective on shares of Boston Beer from $257.00 to $250.00 and set a “sell” rating on the stock in a research note on Tuesday, April 9th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $337.36.

Boston Beer Trading Down 2.0 %

Boston Beer stock opened at $285.65 on Friday. The stock has a market cap of $3.43 billion, a price-to-earnings ratio of 46.07, a PEG ratio of 1.05 and a beta of 1.02. The company’s 50-day moving average price is $317.56 and its two-hundred day moving average price is $339.71. The Boston Beer Company, Inc. has a 52 week low of $284.70 and a 52 week high of $395.52.

Boston Beer (NYSE:SAM) last released its earnings results on Tuesday, February 27th. The company reported ($1.49) EPS for the quarter, missing the consensus estimate of ($0.22) by ($1.27). Boston Beer had a net margin of 3.61% and a return on equity of 8.13%. The company had revenue of $393.72 million for the quarter, compared to analyst estimates of $413.57 million. During the same period in the previous year, the business posted ($0.93) EPS. The firm’s quarterly revenue was down 12.0% on a year-over-year basis. Research analysts expect that The Boston Beer Company, Inc. will post 9.98 earnings per share for the current fiscal year.

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.