3,800 The Boston Beer Company, Inc. $SAM Shares Sold by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al trimmed its position in shares of The Boston Beer Company, Inc. (NYSE:SAM) by 74.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,288 shares of the company’s stock after selling 3,800 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Boston Beer were worth $211,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of SAM. IFP Advisors Inc grew its stake in shares of Boston Beer by 333.3% in the second quarter. IFP Advisors Inc now owns 156 shares of the company’s stock worth $28,000 after purchasing an additional 120 shares during the last quarter. Ascentis Independent Advisors bought a new position in Boston Beer during the 1st quarter valued at approximately $37,000. Plato Investment Management Ltd bought a new position in Boston Beer during the 2nd quarter valued at approximately $35,000. Sterling Capital Management LLC raised its position in Boston Beer by 223.5% during the 3rd quarter. Sterling Capital Management LLC now owns 220 shares of the company’s stock valued at $36,000 after purchasing an additional 152 shares during the last quarter. Finally, Pinnacle Wealth Planning Services Inc. lifted its holdings in Boston Beer by 22,300.0% in the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 224 shares of the company’s stock worth $37,000 after buying an additional 223 shares during the period. 81.13% of the stock is currently owned by hedge funds and other institutional investors.

Boston Beer Price Performance

Shares of NYSE SAM opened at $221.10 on Monday. The Boston Beer Company, Inc. has a 1 year low of $158.68 and a 1 year high of $264.46. The stock has a market capitalization of $2.24 billion, a P/E ratio of -32.37 and a beta of 0.81. The company’s 50-day moving average is $180.59 and its 200 day moving average is $199.25.

Boston Beer (NYSE:SAM) last issued its quarterly earnings data on Thursday, October 22nd. The company reported $4.37 EPS for the quarter, topping the consensus estimate of $4.21 by $0.16. The business had revenue of $520.10 million during the quarter, compared to analyst estimates of $522.95 million. Boston Beer had a negative net margin of 3.59% and a positive return on equity of 10.40%. Boston Beer’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same period last year, the business posted $4.25 earnings per share. Research analysts anticipate that The Boston Beer Company, Inc. will post 9.50 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on SAM shares. Wall Street Zen upgraded Boston Beer from a “sell” rating to a “hold” rating in a research report on Saturday, July 25th. Roth Capital restated a “buy” rating and set a $295.00 target price (down from $315.00) on shares of Boston Beer in a report on Friday, July 24th. Sanford C. Bernstein restated a “market perform” rating and set a $195.00 target price on shares of Boston Beer in a report on Monday, July 27th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Boston Beer in a research note on Friday, October 30th. Finally, UBS Group lifted their price target on shares of Boston Beer from $190.00 to $204.00 and gave the company a “neutral” rating in a report on Friday, October 23rd. One analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $208.82.

About Boston Beer

Boston Beer Company, Inc is an American beverage company that develops, produces, and sells alcoholic beverages. The company is best known for its Samuel Adams craft beer brand, which includes Boston Lager and a range of seasonal, specialty, and limited-release beers.

Its portfolio also includes Twisted Tea hard iced tea, Truly Hard Seltzer, Angry Orchard hard cider, and beverages associated with Dogfish Head, which Boston Beer acquired in 2019. The company offers products across several categories, including beer, flavored malt beverages, hard seltzer, and hard cider, with offerings distributed primarily through wholesalers, retailers, restaurants, and other on-premise establishments.

Founded in 1984 by Jim Koch, Boston Beer helped expand the U.S.