Teacher Retirement System of Texas Has $1.55 Million Stock Position in The Boston Beer Company, Inc. (NYSE:SAM)

Teacher Retirement System of Texas boosted its position in The Boston Beer Company, Inc. (NYSE:SAM) by 34.8% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 6,472 shares of the company’s stock after purchasing an additional 1,671 shares during the period. Teacher Retirement System of Texas owned about 0.06% of Boston Beer worth $1,546,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of SAM. US Bancorp DE lifted its stake in Boston Beer by 67.9% in the 4th quarter. US Bancorp DE now owns 272 shares of the company’s stock valued at $82,000 after purchasing an additional 110 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in Boston Beer by 18.6% in the 4th quarter. Jones Financial Companies Lllp now owns 573 shares of the company’s stock valued at $172,000 after acquiring an additional 90 shares during the period. Steward Partners Investment Advisory LLC raised its holdings in Boston Beer by 102.1% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 588 shares of the company’s stock valued at $176,000 after acquiring an additional 297 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Boston Beer by 5.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 94,356 shares of the company’s stock valued at $28,305,000 after acquiring an additional 4,675 shares during the period. Finally, Raymond James Financial Inc. bought a new position in Boston Beer in the 4th quarter valued at about $243,000. 81.13% of the stock is currently owned by institutional investors and hedge funds.

Boston Beer Trading Down 1.7%

Shares of SAM opened at $194.37 on Friday. The Boston Beer Company, Inc. has a 12 month low of $185.34 and a 12 month high of $329.55. The stock has a market capitalization of $2.17 billion, a PE ratio of 32.23, a P/E/G ratio of 1.45 and a beta of 0.99. The firm’s 50 day moving average is $218.48 and its 200-day moving average is $237.06.

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

Wall Street Analyst Weigh In

SAM has been the topic of several research analyst reports. Wall Street Zen cut shares of Boston Beer from a “buy” rating to a “hold” rating in a report on Friday, June 27th. Sanford C. Bernstein lowered their price target on shares of Boston Beer from $270.00 to $230.00 and set a “market perform” rating on the stock in a report on Wednesday. Piper Sandler lowered their price target on shares of Boston Beer from $240.00 to $230.00 and set a “neutral” rating on the stock in a report on Thursday, April 17th. The Goldman Sachs Group lowered their price target on shares of Boston Beer from $219.00 to $187.00 and set a “sell” rating on the stock in a report on Monday, June 23rd. Finally, Berenberg Bank assumed coverage on shares of Boston Beer in a report on Wednesday, April 2nd. They issued a “hold” rating and a $281.10 price target on the stock. One research 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. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $272.01.

Boston Beer Company 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.