The Boston Beer Company, Inc. (NYSE:SAM) Shares Bought by Teacher Retirement System of Texas

Teacher Retirement System of Texas grew its stake in shares of The Boston Beer Company, Inc. (NYSE:SAM - Free Report) by 34.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor 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 approximately 0.06% of Boston Beer worth $1,546,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Wedge Capital Management L L P NC boosted its position in shares of Boston Beer by 51.8% during the 1st quarter. Wedge Capital Management L L P NC now owns 8,593 shares of the company's stock worth $2,052,000 after purchasing an additional 2,932 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Boston Beer by 5.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 94,356 shares of the company's stock worth $28,305,000 after purchasing an additional 4,675 shares in the last quarter. Norges Bank purchased a new stake in shares of Boston Beer during the 4th quarter worth $30,741,000. GAMMA Investing LLC boosted its position in shares of Boston Beer by 7,861.2% during the 1st quarter. GAMMA Investing LLC now owns 10,270 shares of the company's stock worth $2,453,000 after purchasing an additional 10,141 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Boston Beer in the 1st quarter worth about $394,000. 81.13% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on SAM. Piper Sandler decreased their price objective on shares of Boston Beer from $240.00 to $230.00 and set a "neutral" rating on the stock in a research report on Thursday, April 17th. Berenberg Bank initiated coverage on shares of Boston Beer in a report on Wednesday, April 2nd. They issued a "hold" rating and a $281.10 target price on the stock. The Goldman Sachs Group reduced their target price 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. UBS Group upped their target price on shares of Boston Beer from $265.00 to $279.00 and gave the company a "neutral" rating in a report on Thursday, April 17th. Finally, Cfra Research upgraded shares of Boston Beer from a "moderate sell" rating to a "moderate buy" rating in a report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $272.01.

Boston Beer Stock Down 1.7%

Shares of SAM stock traded down $3.30 during trading hours on Friday, hitting $194.37. 271,875 shares of the company were exchanged, compared to its average volume of 169,964. The firm has a market cap of $2.17 billion, a PE ratio of 32.23, a PEG ratio of 1.45 and a beta of 0.99. The Boston Beer Company, Inc. has a 1 year low of $185.34 and a 1 year high of $329.55. The firm has a fifty day moving average of $218.48 and a 200 day moving average of $237.06.

Boston Beer (NYSE:SAM - Get Free Report) last posted its earnings results on Thursday, April 24th. The company reported $2.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.78 by $1.38. The firm had revenue of $481.36 million during the quarter, compared to the consensus estimate of $436.27 million. Boston Beer had a net margin of 3.30% and a return on equity of 13.81%. The company's revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.04 EPS. Analysts expect that The Boston Beer Company, Inc. will post 9.29 earnings per share for the current year.

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.