State of Michigan Retirement System Sells 100 Shares of The Boston Beer Company, Inc. (NYSE:SAM)

State of Michigan Retirement System reduced its position in shares of The Boston Beer Company, Inc. (NYSE:SAM) by 4.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,183 shares of the company’s stock after selling 100 shares during the period. State of Michigan Retirement System’s holdings in Boston Beer were worth $666,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Boston Beer by 2.3% in the fourth quarter. Vanguard Group Inc. now owns 918,502 shares of the company’s stock valued at $317,425,000 after acquiring an additional 21,060 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Boston Beer by 5.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 142,014 shares of the company’s stock valued at $49,080,000 after purchasing an additional 7,615 shares in the last quarter. Bank of New York Mellon Corp raised its position in Boston Beer by 8.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 133,486 shares of the company’s stock valued at $40,720,000 after purchasing an additional 9,997 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Boston Beer by 3.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 107,312 shares of the company’s stock worth $37,086,000 after purchasing an additional 3,382 shares in the last quarter. Finally, Armistice Capital LLC bought a new stake in shares of Boston Beer during the fourth quarter worth $21,499,000. 81.13% of the stock is currently owned by institutional investors and hedge funds.

Boston Beer Stock Up 0.6 %

NYSE:SAM opened at $271.72 on Friday. The Boston Beer Company, Inc. has a 12-month low of $254.40 and a 12-month high of $395.52. The stock’s fifty day simple moving average is $282.71 and its 200-day simple moving average is $291.94. The firm has a market capitalization of $3.25 billion, a P/E ratio of 34.09, a P/E/G ratio of 1.15 and a beta of 1.03.

Boston Beer (NYSE:SAM) last posted its earnings results on Thursday, July 25th. The company reported $4.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.99 by ($0.60). The company had revenue of $579.10 million for the quarter, compared to analyst estimates of $597.33 million. Boston Beer had a return on equity of 9.69% and a net margin of 4.39%. Boston Beer’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.72 earnings per share. As a group, equities research analysts expect that The Boston Beer Company, Inc. will post 9.65 earnings per share for the current year.

Analyst Ratings Changes

SAM has been the subject of a number of research analyst reports. Piper Sandler cut their price target on Boston Beer from $344.00 to $325.00 and set an “overweight” rating for the company in a report on Friday, July 26th. StockNews.com downgraded shares of Boston Beer from a “buy” rating to a “hold” rating in a research note on Wednesday, June 12th. Morgan Stanley raised shares of Boston Beer from an “underweight” rating to an “equal weight” rating and set a $290.00 price target on the stock in a research note on Wednesday, June 5th. Roth Mkm dropped their price objective on shares of Boston Beer from $395.00 to $389.00 and set a “buy” rating for the company in a research report on Friday, July 26th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Boston Beer from $273.00 to $283.00 and gave the company a “hold” rating in a research report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $326.92.

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.