Commonwealth of Pennsylvania Public School Empls Retrmt SYS Lowers Position in The Boston Beer Company, Inc. (NYSE:SAM)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS trimmed its stake in shares of The Boston Beer Company, Inc. (NYSE:SAM) by 2.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,900 shares of the company’s stock after selling 44 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Boston Beer were worth $570,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. State Street Corp grew its position in shares of Boston Beer by 7.8% during the third quarter. State Street Corp now owns 292,643 shares of the company’s stock valued at $84,615,000 after purchasing an additional 21,276 shares in the last quarter. Fisher Asset Management LLC increased its stake in Boston Beer by 27.1% in the 4th quarter. Fisher Asset Management LLC now owns 160,419 shares of the company’s stock worth $48,122,000 after acquiring an additional 34,176 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings 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 worth $28,305,000 after acquiring an additional 4,675 shares in the last quarter. Global Alpha Capital Management Ltd. purchased a new stake in shares of Boston Beer during the 4th quarter worth approximately $23,349,000. Finally, Wealthfront Advisers LLC purchased a new position in shares of Boston Beer in the fourth quarter valued at $6,528,000. 81.13% of the stock is currently owned by institutional investors.

Boston Beer Trading Up 1.9 %

Shares of SAM opened at $238.31 on Thursday. The firm has a market capitalization of $2.68 billion, a P/E ratio of 35.05, a P/E/G ratio of 1.23 and a beta of 1.14. The Boston Beer Company, Inc. has a 12-month low of $215.10 and a 12-month high of $339.77. The firm has a fifty day moving average price of $238.18 and a 200-day moving average price of $274.66.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on SAM shares. Piper Sandler decreased 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. Roth Mkm reaffirmed a “buy” rating and issued a $349.00 price target (down previously from $389.00) on shares of Boston Beer in a report on Wednesday, February 26th. StockNews.com cut Boston Beer from a “buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Citigroup raised Boston Beer from a “neutral” rating to a “buy” rating and raised their price objective for the company from $265.00 to $280.00 in a research note on Thursday, March 20th. Finally, Needham & Company LLC began coverage on Boston Beer in a research report on Friday, December 6th. They set a “hold” rating on the stock. One analyst has rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $292.40.

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.