California State Teachers Retirement System Cuts Stake in The Boston Beer Company, Inc. (NYSE:SAM)

California State Teachers Retirement System reduced its holdings in shares of The Boston Beer Company, Inc. (NYSE:SAM - Free Report) by 65.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,538 shares of the company's stock after selling 16,314 shares during the period. California State Teachers Retirement System owned approximately 0.08% of Boston Beer worth $2,561,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SAM. Blue Trust Inc. lifted its stake in shares of Boston Beer by 405.6% during 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 lifted its position in Boston Beer by 2,225.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 93 shares of the company's stock worth $28,000 after acquiring an additional 89 shares during the period. GeoWealth Management LLC acquired a new stake in Boston Beer during the 4th quarter worth about $35,000. First Horizon Advisors Inc. grew its stake in Boston Beer by 42.1% during the 4th quarter. First Horizon Advisors Inc. now owns 172 shares of the company's stock valued at $52,000 after purchasing an additional 51 shares during the last quarter. Finally, True Wealth Design LLC increased its holdings in shares of Boston Beer by 44.1% in the fourth quarter. True Wealth Design LLC now owns 232 shares of the company's stock valued at $70,000 after purchasing an additional 71 shares during the period. 81.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Roth Mkm reaffirmed a "buy" rating and set a $349.00 target price (down previously from $389.00) on shares of Boston Beer in a report on Wednesday, February 26th. Morgan Stanley reduced their price target on shares of Boston Beer from $290.00 to $270.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 26th. UBS Group upped their price objective 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. Royal Bank of Canada reiterated a "sector perform" rating and issued a $279.00 price objective on shares of Boston Beer in a research note on Tuesday, April 22nd. Finally, Cfra Research raised shares of Boston Beer from a "moderate sell" rating to a "moderate buy" rating in a report on Thursday, April 24th. Eight investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Boston Beer presently has an average rating of "Hold" and an average price target of $286.12.

Boston Beer Stock Performance

NYSE SAM traded up $1.42 during mid-day trading on Tuesday, reaching $220.13. 189,350 shares of the stock were exchanged, compared to its average volume of 155,555. The company has a market capitalization of $2.45 billion, a P/E ratio of 32.37, a P/E/G ratio of 1.23 and a beta of 1.05. The business's 50 day moving average is $237.54 and its 200-day moving average is $254.47. The Boston Beer Company, Inc. has a 1 year low of $215.10 and a 1 year high of $329.55.

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 the consensus estimate 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 analyst estimates of $436.27 million. During the same period in the prior year, the company posted $1.04 EPS. The company's revenue for the quarter was up 6.5% on a year-over-year basis. Equities analysts predict that The Boston Beer Company, Inc. will post 9.29 earnings per share for the current fiscal year.

About Boston Beer

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.