Teacher Retirement System of Texas Purchases 2,387 Shares of The Boston Beer Company, Inc. (NYSE:SAM)

Teacher Retirement System of Texas increased its holdings in The Boston Beer Company, Inc. (NYSE:SAM - Free Report) by 98.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,801 shares of the company's stock after purchasing an additional 2,387 shares during the period. Teacher Retirement System of Texas' holdings in Boston Beer were worth $1,440,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SAM. Blue Trust Inc. raised its holdings in shares of Boston Beer by 405.6% in the 4th quarter. Blue Trust Inc. now owns 91 shares of the company's stock worth $26,000 after buying an additional 73 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in 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 buying an additional 89 shares in the last quarter. GAMMA Investing LLC grew its position in Boston Beer by 59.3% in the fourth quarter. GAMMA Investing LLC now owns 129 shares of the company's stock valued at $39,000 after acquiring an additional 48 shares during the period. True Wealth Design LLC acquired a new position in Boston Beer during the third quarter worth $47,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Boston Beer during the third quarter valued at $49,000. Institutional investors own 81.13% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on SAM shares. Berenberg Bank initiated coverage on shares of Boston Beer in a report on Wednesday. They issued a "hold" rating and a $281.10 target price on the stock. UBS Group dropped their price objective on shares of Boston Beer from $315.00 to $290.00 and set a "neutral" rating for the company in a report on Thursday, January 16th. Piper Sandler reduced their target price on Boston Beer from $275.00 to $240.00 and set a "neutral" rating on the stock in a report on Wednesday, February 26th. Needham & Company LLC initiated coverage on Boston Beer in a report on Friday, December 6th. They set a "hold" rating for the company. Finally, Roth Mkm reissued a "buy" rating and issued a $349.00 price objective (down previously from $389.00) on shares of Boston Beer in a research note on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $291.37.

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Boston Beer Price Performance

Shares of SAM stock traded up $3.07 during trading hours on Wednesday, reaching $246.54. The company had a trading volume of 169,857 shares, compared to its average volume of 168,259. The Boston Beer Company, Inc. has a 1-year low of $215.10 and a 1-year high of $339.77. The firm has a market cap of $2.77 billion, a price-to-earnings ratio of 36.26, a P/E/G ratio of 1.23 and a beta of 1.14. The company has a 50 day moving average of $237.13 and a 200 day moving average of $273.66.

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.