New York State Common Retirement Fund Has $2.56 Million Stake in The Boston Beer Company, Inc. (NYSE:SAM)

New York State Common Retirement Fund lowered its holdings in The Boston Beer Company, Inc. (NYSE:SAM) by 12.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 7,404 shares of the company’s stock after selling 1,096 shares during the period. New York State Common Retirement Fund’s holdings in Boston Beer were worth $2,559,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Wellington Management Group LLP lifted its position in Boston Beer by 26.5% during the 3rd quarter. Wellington Management Group LLP now owns 66,548 shares of the company’s stock worth $25,922,000 after buying an additional 13,951 shares in the last quarter. International Assets Investment Management LLC bought a new stake in shares of Boston Beer during the fourth quarter valued at approximately $64,490,000. Wedge Capital Management L L P NC acquired a new stake in shares of Boston Beer in the fourth quarter valued at approximately $1,010,000. AQR Capital Management LLC increased its holdings in shares of Boston Beer by 65.9% in the third quarter. AQR Capital Management LLC now owns 115,411 shares of the company’s stock valued at $44,433,000 after purchasing an additional 45,864 shares in the last quarter. Finally, Northern Trust Corp raised its position in Boston Beer by 1.9% in the 3rd quarter. Northern Trust Corp now owns 70,324 shares of the company’s stock worth $27,393,000 after purchasing an additional 1,315 shares during the last quarter. Institutional investors and hedge funds own 81.13% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on SAM. UBS Group lowered their target price on Boston Beer from $390.00 to $355.00 and set a “neutral” rating for the company in a research note on Wednesday, February 28th. Evercore ISI boosted their price objective on Boston Beer from $310.00 to $325.00 and gave the stock an “in-line” rating in a report on Friday, April 26th. Roth Mkm raised their target price 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. The Goldman Sachs Group cut their price objective on shares of Boston Beer from $257.00 to $250.00 and set a “sell” rating on the stock in a report on Tuesday, April 9th. Finally, Morgan Stanley dropped their target price on shares of Boston Beer from $285.00 to $275.00 and set an “underweight” rating for the company in a research report on Wednesday, February 28th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $335.21.

Boston Beer Trading Up 1.9 %

SAM stock opened at $273.31 on Wednesday. The Boston Beer Company, Inc. has a 1-year low of $264.63 and a 1-year high of $395.52. The firm has a market cap of $3.27 billion, a PE ratio of 34.29, a P/E/G ratio of 1.04 and a beta of 1.03. The business’s 50-day moving average price is $292.83 and its two-hundred day moving average price is $329.19.

Boston Beer (NYSE:SAM) last released its quarterly earnings data on Thursday, April 25th. The company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.96. Boston Beer had a return on equity of 10.11% and a net margin of 4.60%. The business had revenue of $426.05 million for the quarter, compared to analysts’ expectations of $414.18 million. On average, analysts forecast that The Boston Beer Company, Inc. will post 10.26 earnings per share for the current year.

Insider Activity

In related news, insider Carolyn L. O’boyle sold 101 shares of the business’s stock in a transaction 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 sale, the insider now directly owns 7,029 shares of the company’s stock, valued at approximately $2,133,231.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 24.00% 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.