Teachers Retirement System of The State of Kentucky Sells 4,824 Shares of The Boston Beer Company, Inc. (NYSE:SAM)

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

Other hedge funds and other institutional investors also recently bought and sold shares of the company. First Horizon Advisors Inc. raised its position 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 valued at $35,000 after buying an additional 62 shares during the last quarter. Covestor Ltd increased its stake in Boston Beer by 36.6% during the third quarter. Covestor Ltd now owns 127 shares of the company’s stock valued at $37,000 after acquiring an additional 34 shares during the period. True Wealth Design LLC acquired a new position in Boston Beer in the 3rd quarter valued at approximately $47,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Boston Beer in the 3rd quarter worth approximately $49,000. Finally, Sachetta LLC grew its holdings in shares of Boston Beer by 1,533.3% during the 2nd quarter. Sachetta LLC now owns 245 shares of the company’s stock worth $68,000 after purchasing an additional 230 shares in the last quarter. 81.13% of the stock is currently owned by institutional investors and hedge funds.

Boston Beer Price Performance

Shares of SAM opened at $302.99 on Thursday. The business’s 50 day simple moving average is $305.48 and its 200-day simple moving average is $290.56. The Boston Beer Company, Inc. has a one year low of $254.40 and a one year high of $371.65. The company has a market capitalization of $3.48 billion, a P/E ratio of 44.56, a PEG ratio of 1.21 and a beta of 1.07.

Wall Street Analyst Weigh In

A number of research analysts recently commented on SAM shares. Piper Sandler upped 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. Roth Mkm restated a “buy” rating and issued a $389.00 price objective on shares of Boston Beer in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Boston Beer from $281.00 to $277.00 and set a “hold” rating on the stock in a research report on Thursday, October 24th. Jefferies Financial Group lowered shares of Boston Beer from a “buy” rating to a “hold” rating and dropped their price target for the stock from $355.00 to $325.00 in a research report on Friday, October 25th. Finally, Needham & Company LLC started coverage on Boston Beer in a report on Friday, December 6th. They set a “hold” rating on the stock. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $314.82.

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.