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

Commonwealth of Pennsylvania Public School Empls Retrmt SYS decreased its position in shares of The Boston Beer Company, Inc. (NYSE:SAM) by 2.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,900 shares of the company’s stock after selling 44 shares during the quarter. 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.

Several other institutional investors have also recently made changes to their positions in the company. Blue Trust Inc. lifted its stake in Boston Beer by 405.6% in the fourth quarter. Blue Trust Inc. now owns 91 shares of the company’s stock worth $26,000 after acquiring an additional 73 shares during the period. EverSource Wealth Advisors LLC raised its holdings in shares of Boston Beer by 2,225.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 93 shares of the company’s stock valued at $28,000 after purchasing an additional 89 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Boston Beer by 59.3% in the 4th quarter. GAMMA Investing LLC now owns 129 shares of the company’s stock worth $39,000 after purchasing an additional 48 shares during the period. True Wealth Design LLC purchased a new position in Boston Beer during the third quarter valued at approximately $47,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Boston Beer in the third quarter worth approximately $49,000. Hedge funds and other institutional investors own 81.13% of the company’s stock.

Boston Beer Trading Up 1.9 %

NYSE SAM opened at $238.31 on Thursday. The Boston Beer Company, Inc. has a 12-month low of $215.10 and a 12-month high of $339.77. The company has a fifty day simple moving average of $238.18 and a two-hundred day simple moving average of $274.66. The stock has a market cap 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.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Roth Mkm reaffirmed a “buy” rating and set a $349.00 target price (down previously from $389.00) on shares of Boston Beer in a research report on Wednesday, February 26th. Morgan Stanley cut their target price on Boston Beer from $290.00 to $270.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 26th. Piper Sandler decreased their price target on shares of Boston Beer from $275.00 to $240.00 and set a “neutral” rating for the company in a research report on Wednesday, February 26th. Citigroup raised shares of Boston Beer from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $265.00 to $280.00 in a research report on Thursday, March 20th. Finally, StockNews.com cut shares of Boston Beer from a “buy” rating to a “hold” rating in a research report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $292.40.

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.