Retirement Systems of Alabama Sells 6,748 Shares of The Boston Beer Company, Inc. (NYSE:SAM)

Retirement Systems of Alabama reduced its stake in The Boston Beer Company, Inc. (NYSE:SAM - Free Report) by 39.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 10,463 shares of the company's stock after selling 6,748 shares during the quarter. Retirement Systems of Alabama owned approximately 0.09% of Boston Beer worth $3,139,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Sanctuary Advisors LLC bought a new stake in Boston Beer in the second quarter valued at about $213,000. CWM LLC increased its stake in Boston Beer by 726.0% in the third quarter. CWM LLC now owns 5,146 shares of the company's stock valued at $1,488,000 after acquiring an additional 4,523 shares during the period. Exchange Traded Concepts LLC increased its stake in Boston Beer by 15.8% in the third quarter. Exchange Traded Concepts LLC now owns 2,565 shares of the company's stock valued at $742,000 after acquiring an additional 350 shares during the period. Creative Planning increased its stake in Boston Beer by 6.5% in the third quarter. Creative Planning now owns 2,540 shares of the company's stock valued at $734,000 after acquiring an additional 155 shares during the period. Finally, QV Investors Inc. increased its stake in Boston Beer by 0.4% in the third quarter. QV Investors Inc. now owns 20,650 shares of the company's stock valued at $5,971,000 after acquiring an additional 80 shares during the period. Institutional investors and hedge funds own 81.13% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on SAM shares. Deutsche Bank Aktiengesellschaft cut their target price on shares of Boston Beer from $281.00 to $277.00 and set a "hold" rating for the company in a research note on Thursday, October 24th. StockNews.com cut shares of Boston Beer from a "buy" rating to a "hold" rating in a research note on Wednesday, January 15th. Jefferies Financial Group cut shares of Boston Beer from a "buy" rating to a "hold" rating and cut their target price for the company from $355.00 to $325.00 in a research note on Friday, October 25th. UBS Group cut their target price on shares of Boston Beer from $315.00 to $290.00 and set a "neutral" rating for the company in a research note on Thursday, January 16th. Finally, Citigroup cut their target price on shares of Boston Beer from $335.00 to $290.00 and set a "neutral" rating for the company in a research note on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $302.90.

Boston Beer Price Performance

Boston Beer stock traded down $1.18 during trading hours on Friday, hitting $231.80. The company had a trading volume of 196,909 shares, compared to its average volume of 168,288. The firm has a market cap of $2.66 billion, a PE ratio of 34.09, a PEG ratio of 0.78 and a beta of 1.06. The Boston Beer Company, Inc. has a one year low of $223.07 and a one year high of $371.65. The firm has a 50-day moving average of $273.05 and a 200 day moving average of $283.10.

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.