Retirement Systems of Alabama Reduces Stock Holdings in The Boston Beer Company, Inc. (NYSE:SAM)

Retirement Systems of Alabama reduced its position in The Boston Beer Company, Inc. (NYSE:SAM) by 3.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,211 shares of the company’s stock after selling 575 shares during the quarter. Retirement Systems of Alabama owned approximately 0.15% of Boston Beer worth $4,976,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. First Horizon Advisors Inc. increased its holdings in Boston Beer by 105.1% in the 3rd quarter. First Horizon Advisors Inc. now owns 121 shares of the company’s stock worth $35,000 after acquiring an additional 62 shares during the last quarter. Covestor Ltd increased its stake in shares of Boston Beer by 36.6% in the third quarter. Covestor Ltd now owns 127 shares of the company’s stock worth $37,000 after purchasing an additional 34 shares in the last quarter. True Wealth Design LLC bought a new stake in shares of Boston Beer in the third quarter valued at approximately $47,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Boston Beer during the 3rd quarter valued at approximately $49,000. Finally, Sachetta LLC boosted its holdings in Boston Beer by 1,533.3% in the 2nd quarter. Sachetta LLC now owns 245 shares of the company’s stock worth $68,000 after buying an additional 230 shares during the period. 81.13% of the stock is currently owned by institutional investors.

Boston Beer Stock Performance

Boston Beer stock opened at $302.99 on Thursday. The Boston Beer Company, Inc. has a fifty-two week low of $254.40 and a fifty-two week high of $371.65. The stock has a market cap of $3.48 billion, a P/E ratio of 44.56, a price-to-earnings-growth ratio of 1.21 and a beta of 1.07. The firm’s fifty day moving average price is $305.48 and its 200-day moving average price is $290.56.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Needham & Company LLC started coverage on Boston Beer in a research report on Friday, December 6th. They set a “hold” rating on the stock. Royal Bank of Canada reissued a “sector perform” rating and set a $318.00 price objective on shares of Boston Beer in a report on Friday, October 25th. UBS Group lifted their target price on Boston Beer from $300.00 to $309.00 in a report on Thursday, October 24th. Jefferies Financial Group downgraded shares of Boston Beer from a “buy” rating to a “hold” rating and lowered their price target for the stock from $355.00 to $325.00 in a report on Friday, October 25th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $389.00 price objective on shares of Boston Beer in a research note on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $314.82.

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.