The Boston Beer Company, Inc. (NYSE:SAM) Stake Cut by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky cut its holdings in shares of The Boston Beer Company, Inc. (NYSE:SAM) by 59.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,285 shares of the company’s stock after selling 4,824 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Boston Beer were worth $950,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. First Horizon Advisors Inc. boosted its holdings in shares of Boston Beer by 105.1% during the third quarter. First Horizon Advisors Inc. now owns 121 shares of the company’s stock worth $35,000 after purchasing an additional 62 shares during the period. Covestor Ltd boosted its stake in shares of Boston Beer by 36.6% during the 3rd quarter. Covestor Ltd now owns 127 shares of the company’s stock valued at $37,000 after buying an additional 34 shares during the period. True Wealth Design LLC purchased a new position in shares of Boston Beer during the 3rd quarter valued at $47,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Boston Beer during the 3rd quarter valued at $49,000. Finally, Sachetta LLC increased its stake in shares of Boston Beer by 1,533.3% in the second quarter. Sachetta LLC now owns 245 shares of the company’s stock worth $68,000 after acquiring an additional 230 shares during the last quarter. Hedge funds and other institutional investors own 81.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Piper Sandler boosted their target price on Boston Beer from $325.00 to $330.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Jefferies Financial Group cut Boston Beer from a “buy” rating to a “hold” rating and lowered their price target for the company from $355.00 to $325.00 in a research note on Friday, October 25th. Needham & Company LLC initiated coverage on shares of Boston Beer in a research report on Friday, December 6th. They set a “hold” rating on the stock. Royal Bank of Canada reissued a “sector perform” rating and issued a $318.00 target price on shares of Boston Beer in a research report on Friday, October 25th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of Boston Beer from $281.00 to $277.00 and set a “hold” rating on the stock in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $314.82.

Boston Beer Price Performance

Boston Beer stock opened at $302.99 on Thursday. The Boston Beer Company, Inc. has a fifty-two week low of $254.40 and a fifty-two week high of $371.65. The firm has a fifty day moving average price of $305.48 and a two-hundred day moving average price of $290.56. The firm has a market cap of $3.48 billion, a price-to-earnings ratio of 44.56, a P/E/G ratio of 1.21 and a beta of 1.07.

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.