Teachers Retirement System of The State of Kentucky Has $2.47 Million Stake in The Boston Beer Company, Inc. (NYSE:SAM)

Teachers Retirement System of The State of Kentucky lifted its position in shares of The Boston Beer Company, Inc. (NYSE:SAM) by 21.4% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,109 shares of the company’s stock after buying an additional 1,432 shares during the quarter. Teachers Retirement System of The State of Kentucky owned about 0.07% of Boston Beer worth $2,474,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Quarry LP raised its stake in Boston Beer by 984.0% in the 2nd quarter. Quarry LP now owns 271 shares of the company’s stock worth $83,000 after purchasing an additional 246 shares in the last quarter. Creative Planning raised its position in shares of Boston Beer by 7.1% in the second quarter. Creative Planning now owns 2,385 shares of the company’s stock valued at $728,000 after buying an additional 158 shares in the last quarter. Algert Global LLC raised its position in shares of Boston Beer by 114.0% in the second quarter. Algert Global LLC now owns 5,053 shares of the company’s stock valued at $1,541,000 after buying an additional 2,692 shares in the last quarter. D. E. Shaw & Co. Inc. boosted its stake in shares of Boston Beer by 80.0% in the second quarter. D. E. Shaw & Co. Inc. now owns 114,736 shares of the company’s stock valued at $35,000,000 after buying an additional 51,003 shares during the period. Finally, Armistice Capital LLC grew its position in Boston Beer by 1.1% during the second quarter. Armistice Capital LLC now owns 97,292 shares of the company’s stock worth $29,679,000 after buying an additional 1,093 shares in the last quarter. Institutional investors and hedge funds own 81.13% of the company’s stock.

Analyst Ratings Changes

SAM has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft increased their target price on Boston Beer from $273.00 to $283.00 and gave the stock a “hold” rating in a report on Wednesday, July 17th. StockNews.com lowered shares of Boston Beer from a “buy” rating to a “hold” rating in a report on Wednesday, June 12th. Piper Sandler cut their price target on shares of Boston Beer from $344.00 to $325.00 and set an “overweight” rating for the company in a report on Friday, July 26th. Roth Mkm reduced their price target on shares of Boston Beer from $395.00 to $389.00 and set a “buy” rating on the stock in a research report on Friday, July 26th. Finally, Royal Bank of Canada lowered their price objective on shares of Boston Beer from $332.00 to $318.00 and set a “sector perform” rating for the company in a research report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Boston Beer presently has a consensus rating of “Hold” and a consensus price target of $326.92.

Boston Beer Trading Down 0.4 %

Shares of SAM stock opened at $280.66 on Friday. The business’s 50-day moving average price is $276.49 and its 200-day moving average price is $283.89. The Boston Beer Company, Inc. has a 12 month low of $254.40 and a 12 month high of $378.08. The firm has a market capitalization of $3.36 billion, a price-to-earnings ratio of 35.18, a PEG ratio of 1.16 and a beta of 1.06.

Boston Beer (NYSE:SAM) last announced its earnings results on Thursday, July 25th. The company reported $4.39 EPS for the quarter, missing the consensus estimate of $4.99 by ($0.60). The company had revenue of $579.10 million for the quarter, compared to analyst estimates of $597.33 million. Boston Beer had a return on equity of 9.69% and a net margin of 4.39%. The firm’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.72 earnings per share. On average, sell-side analysts predict that The Boston Beer Company, Inc. will post 9.65 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.