Texas Permanent School Fund grew its stake in shares of Boston Beer Company Inc (NYSE:SAM) by 5.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,252 shares of the company’s stock after purchasing an additional 315 shares during the quarter. Texas Permanent School Fund owned 0.05% of Boston Beer worth $2,276,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Nuveen Asset Management LLC acquired a new position in shares of Boston Beer during the second quarter worth about $40,789,000. HM Payson & Co. acquired a new position in shares of Boston Beer during the second quarter worth about $38,000. Royal Bank of Canada lifted its stake in shares of Boston Beer by 14.3% during the second quarter. Royal Bank of Canada now owns 24,168 shares of the company’s stock worth $9,130,000 after purchasing an additional 3,024 shares in the last quarter. Oppenheimer & Co. Inc. acquired a new position in shares of Boston Beer during the second quarter worth about $282,000. Finally, Atria Investments LLC acquired a new position in shares of Boston Beer during the second quarter worth about $214,000. Institutional investors own 71.80% of the company’s stock.
Shares of Boston Beer stock opened at $361.97 on Friday. The firm has a market cap of $4.22 billion, a P/E ratio of 48.46, a P/E/G ratio of 3.78 and a beta of 0.61. Boston Beer Company Inc has a fifty-two week low of $230.93 and a fifty-two week high of $444.64. The business has a 50-day moving average price of $374.05 and a 200 day moving average price of $368.99.
In related news, Chairman C James Koch sold 1,000 shares of the business’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $383.45, for a total value of $383,450.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last three months, insiders sold 71,000 shares of company stock valued at $27,901,780. 28.40% of the stock is owned by corporate insiders.
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, and hard seltzers under the Samuel Adams, Twisted Tea, Angry Orchard Hard Cider, and Truly Hard Seltzer brand names.
Recommended Story: What can cause a stock to outperform?
Receive News & Ratings for Boston Beer Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boston Beer and related companies with MarketBeat.com's FREE daily email newsletter.