State of Tennessee Department of Treasury Sells 51 Shares of The Boston Beer Company, Inc. (NYSE:SAM)

State of Tennessee Department of Treasury lessened its stake in The Boston Beer Company, Inc. (NYSE:SAM) by 2.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,841 shares of the company’s stock after selling 51 shares during the period. State of Tennessee Department of Treasury’s holdings in Boston Beer were worth $552,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Dimensional Fund Advisors LP grew its holdings in shares of Boston Beer by 9.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 225,762 shares of the company’s stock worth $67,723,000 after acquiring an additional 19,063 shares during the period. Fisher Asset Management LLC grew its stake in shares of Boston Beer by 27.1% during the 4th quarter. Fisher Asset Management LLC now owns 160,419 shares of the company’s stock valued at $48,122,000 after purchasing an additional 34,176 shares during the period. Norges Bank purchased a new stake in shares of Boston Beer during the 4th quarter valued at about $30,741,000. Charles Schwab Investment Management Inc. increased its position in shares of Boston Beer by 5.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 94,356 shares of the company’s stock valued at $28,305,000 after purchasing an additional 4,675 shares during the last quarter. Finally, Cooper Creek Partners Management LLC bought a new position in shares of Boston Beer in the 4th quarter worth approximately $25,054,000. 81.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Boston Beer in a report on Friday, April 25th. Cfra Research upgraded Boston Beer from a “moderate sell” rating to a “moderate buy” rating in a research report on Thursday, April 24th. Piper Sandler reduced their price target on Boston Beer from $240.00 to $230.00 and set a “neutral” rating for the company in a research report on Thursday, April 17th. Morgan Stanley lowered their price objective on Boston Beer from $290.00 to $270.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 26th. Finally, Roth Mkm reissued a “buy” rating and issued a $349.00 target price (down from $389.00) on shares of Boston Beer in a report on Wednesday, February 26th. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Boston Beer has an average rating of “Hold” and a consensus price target of $286.12.

Boston Beer Stock Down 2.2 %

Shares of SAM stock opened at $239.59 on Friday. The company’s fifty day simple moving average is $238.15 and its two-hundred day simple moving average is $267.64. The Boston Beer Company, Inc. has a 52 week low of $215.10 and a 52 week high of $339.77. The stock has a market cap of $2.69 billion, a P/E ratio of 35.23, a PEG ratio of 1.23 and a beta of 1.26.

Boston Beer (NYSE:SAM) last announced its quarterly earnings results on Thursday, April 24th. The company reported $2.16 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $1.38. Boston Beer had a return on equity of 11.76% and a net margin of 3.82%. The company had revenue of $481.36 million during the quarter, compared to analyst estimates of $436.27 million. During the same period in the prior year, the company earned $1.04 earnings per share. The firm’s revenue was up 6.5% on a year-over-year basis. On average, analysts anticipate that The Boston Beer Company, Inc. will post 9.29 EPS for the current fiscal year.

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.