Retirement Systems of Alabama Sells 575 Shares of The Boston Beer Company, Inc. (NYSE:SAM)

Retirement Systems of Alabama trimmed its holdings in The Boston Beer Company, Inc. (NYSE:SAM) by 3.2% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 17,211 shares of the company’s stock after selling 575 shares during the quarter. Retirement Systems of Alabama’s holdings in Boston Beer were worth $4,976,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. First Horizon Advisors Inc. lifted its stake in Boston Beer by 105.1% in 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 last quarter. Covestor Ltd increased its holdings in shares of Boston Beer by 36.6% in the third quarter. Covestor Ltd now owns 127 shares of the company’s stock worth $37,000 after buying an additional 34 shares during the period. True Wealth Design LLC bought a new stake in shares of Boston Beer in the 3rd quarter valued at about $47,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Boston Beer during the 3rd quarter valued at about $49,000. Finally, Sachetta LLC grew its position in 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 acquiring an additional 230 shares during the last quarter. Hedge funds and other institutional investors own 81.13% of the company’s stock.

Boston Beer Stock Performance

Shares of NYSE:SAM opened at $302.99 on Thursday. The firm has a market capitalization of $3.48 billion, a P/E ratio of 44.56, a P/E/G ratio of 1.21 and a beta of 1.07. The stock has a 50 day moving average price of $305.48 and a 200-day moving average price of $290.56. The Boston Beer Company, Inc. has a 52-week low of $254.40 and a 52-week high of $371.65.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SAM. Jefferies Financial Group lowered Boston Beer from a “buy” rating to a “hold” rating and dropped their price objective for the company from $355.00 to $325.00 in a research note on Friday, October 25th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Boston Beer from $281.00 to $277.00 and set a “hold” rating for the company in a research report on Thursday, October 24th. Piper Sandler boosted their price objective on shares of Boston Beer from $325.00 to $330.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Roth Mkm reiterated a “buy” rating and set a $389.00 target price on shares of Boston Beer in a report on Wednesday, October 23rd. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $318.00 price target on shares of Boston Beer in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $314.82.

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.