New York State Teachers Retirement System Trims Stock Holdings in Boston Beer Company Inc (NYSE:SAM)

New York State Teachers Retirement System decreased its stake in Boston Beer Company Inc (NYSE:SAM) by 7.6% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 16,085 shares of the company’s stock after selling 1,319 shares during the period. New York State Teachers Retirement System’s holdings in Boston Beer were worth $6,076,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Buffington Mohr McNeal purchased a new stake in Boston Beer in the first quarter worth about $29,000. Quadrant Capital Group LLC purchased a new stake in Boston Beer in the first quarter worth about $51,000. Osborn Williams & Donohoe LLC purchased a new stake in Boston Beer in the first quarter worth about $53,000. Marshall Wace North America L.P. purchased a new stake in Boston Beer in the first quarter worth about $59,000. Finally, NEXT Financial Group Inc increased its position in Boston Beer by 119.0% in the second quarter. NEXT Financial Group Inc now owns 184 shares of the company’s stock worth $70,000 after buying an additional 100 shares in the last quarter. Institutional investors and hedge funds own 73.77% of the company’s stock.

In related news, VP David L. Grinnell sold 500 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $342.50, for a total transaction of $171,250.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 28.40% of the stock is currently owned by corporate insiders.

Several analysts recently issued reports on the company. Credit Suisse Group increased their target price on Boston Beer from $320.00 to $375.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Citigroup set a $394.00 target price on Boston Beer and gave the stock a “hold” rating in a research report on Friday, July 26th. Goldman Sachs Group cut Boston Beer from a “neutral” rating to a “sell” rating and set a $275.79 target price for the company. in a research report on Friday, April 5th. Royal Bank of Canada set a $346.00 target price on Boston Beer and gave the stock a “hold” rating in a research report on Friday, July 26th. Finally, Zacks Investment Research cut Boston Beer from a “strong-buy” rating to a “hold” rating and set a $415.00 target price for the company. in a research report on Wednesday, June 26th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $337.32.

Shares of NYSE:SAM traded up $0.75 during trading on Friday, hitting $383.79. 202,453 shares of the company’s stock were exchanged, compared to its average volume of 177,968. Boston Beer Company Inc has a 52-week low of $230.93 and a 52-week high of $403.01. The firm has a 50-day moving average of $375.89. The firm has a market capitalization of $4.58 billion, a P/E ratio of 51.38, a price-to-earnings-growth ratio of 4.39 and a beta of 0.68.

Boston Beer (NYSE:SAM) last announced its quarterly earnings results on Thursday, July 25th. The company reported $2.34 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.51. Boston Beer had a return on equity of 22.89% and a net margin of 9.92%. The company had revenue of $318.40 million during the quarter, compared to analyst estimates of $308.49 million. During the same period in the prior year, the company earned $1.98 earnings per share. The firm’s revenue was up 16.6% on a year-over-year basis. As a group, analysts anticipate that Boston Beer Company Inc will post 8.93 earnings per share 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, and hard seltzers under the Samuel Adams, Twisted Tea, Angry Orchard Hard Cider, and Truly Hard Seltzer brand names.

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Institutional Ownership by Quarter for Boston Beer (NYSE:SAM)

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