California State Teachers Retirement System decreased its position in The Boston Beer Company, Inc. (NYSE:SAM - Free Report) by 65.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,538 shares of the company's stock after selling 16,314 shares during the quarter. California State Teachers Retirement System owned 0.08% of Boston Beer worth $2,561,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in SAM. Blue Trust Inc. increased its position in Boston Beer by 405.6% in the fourth quarter. Blue Trust Inc. now owns 91 shares of the company's stock worth $26,000 after buying an additional 73 shares during the period. EverSource Wealth Advisors LLC boosted its stake in Boston Beer by 2,225.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 93 shares of the company's stock valued at $28,000 after purchasing an additional 89 shares during the period. GeoWealth Management LLC acquired a new stake in shares of Boston Beer in the fourth quarter valued at approximately $35,000. First Horizon Advisors Inc. grew its holdings in Boston Beer by 42.1% in the 4th quarter. First Horizon Advisors Inc. now owns 172 shares of the company's stock worth $52,000 after buying an additional 51 shares in the last quarter. Finally, True Wealth Design LLC increased its position in Boston Beer by 44.1% in the 4th quarter. True Wealth Design LLC now owns 232 shares of the company's stock valued at $70,000 after acquiring an additional 71 shares during the period. 81.13% of the stock is currently owned by institutional investors.
Boston Beer Trading Up 0.1%
Shares of NYSE SAM opened at $221.38 on Friday. The firm has a market cap of $2.47 billion, a PE ratio of 32.56, a PEG ratio of 1.23 and a beta of 1.05. The Boston Beer Company, Inc. has a 1-year low of $215.10 and a 1-year high of $329.55. The company has a fifty day moving average price of $238.58 and a 200 day moving average price of $256.10.
Boston Beer (NYSE:SAM - Get Free Report) last issued its earnings results on Thursday, April 24th. The company reported $2.16 earnings per share for the quarter, topping analysts' consensus estimates of $0.78 by $1.38. Boston Beer had a net margin of 3.82% and a return on equity of 11.76%. The business had revenue of $481.36 million for the quarter, compared to the consensus estimate of $436.27 million. During the same period in the previous year, the company earned $1.04 earnings per share. The firm's revenue for the quarter was up 6.5% on a year-over-year basis. Equities research analysts forecast that The Boston Beer Company, Inc. will post 9.29 EPS for the current year.
Wall Street Analysts Forecast Growth
Several equities analysts have recently issued reports on SAM shares. Royal Bank of Canada reiterated a "sector perform" rating and set a $279.00 price target on shares of Boston Beer in a research report on Tuesday, April 22nd. Piper Sandler dropped their target price 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. Citigroup raised their target price on shares of Boston Beer from $280.00 to $285.00 and gave the stock a "buy" rating in a report on Monday, April 14th. Berenberg Bank initiated coverage on Boston Beer in a research report on Wednesday, April 2nd. They set a "hold" rating and a $281.10 price objective for the company. Finally, Wall Street Zen raised Boston Beer from a "hold" rating to a "buy" rating in a research note on Friday, April 25th. Eight analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $286.12.
Check Out Our Latest Report on Boston Beer
Boston Beer Company Profile
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding SAM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Boston Beer Company, Inc. (NYSE:SAM - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Boston Beer, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Boston Beer wasn't on the list.
While Boston Beer currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
