Arizona State Retirement System Trims Stock Position in The Boston Beer Company, Inc. (NYSE:SAM)

Arizona State Retirement System cut its stake in The Boston Beer Company, Inc. (NYSE:SAM) by 1.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,660 shares of the company’s stock after selling 45 shares during the period. Arizona State Retirement System’s holdings in Boston Beer were worth $798,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Covestor Ltd raised 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 valued at $37,000 after buying an additional 34 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Boston Beer by 59.3% in the fourth quarter. GAMMA Investing LLC now owns 129 shares of the company’s stock valued at $39,000 after buying an additional 48 shares during the last quarter. First Horizon Advisors Inc. raised its holdings in shares of Boston Beer by 42.1% in the fourth quarter. First Horizon Advisors Inc. now owns 172 shares of the company’s stock valued at $52,000 after buying an additional 51 shares during the last quarter. Exchange Traded Concepts LLC raised its holdings in shares of Boston Beer by 2.5% in the fourth quarter. Exchange Traded Concepts LLC now owns 2,630 shares of the company’s stock valued at $789,000 after buying an additional 65 shares during the last quarter. Finally, Great Valley Advisor Group Inc. raised its holdings in shares of Boston Beer by 8.5% in the third quarter. Great Valley Advisor Group Inc. now owns 867 shares of the company’s stock valued at $251,000 after buying an additional 68 shares during the last quarter. 81.13% of the stock is owned by hedge funds and other institutional investors.

Boston Beer Trading Down 2.9 %

Shares of SAM opened at $226.73 on Friday. The firm’s 50-day moving average is $247.30 and its two-hundred day moving average is $278.04. The Boston Beer Company, Inc. has a twelve month low of $222.27 and a twelve month high of $339.77. The firm has a market capitalization of $2.55 billion, a P/E ratio of 33.34, a PEG ratio of 1.23 and a beta of 1.14.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on SAM shares. Needham & Company LLC started coverage on shares of Boston Beer in a report on Friday, December 6th. They issued a “hold” rating for the company. Morgan Stanley dropped their price target on shares of Boston Beer from $290.00 to $270.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 26th. Piper Sandler dropped their price target on shares of Boston Beer from $275.00 to $240.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 26th. Citigroup dropped their price target on shares of Boston Beer from $335.00 to $290.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th. Finally, UBS Group dropped their price target on shares of Boston Beer from $315.00 to $290.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $293.40.

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.