Teachers Retirement System of The State of Kentucky Has $950,000 Stake in The Boston Beer Company, Inc. (NYSE:SAM)

Teachers Retirement System of The State of Kentucky trimmed its position in The Boston Beer Company, Inc. (NYSE:SAM - Free Report) by 59.5% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 3,285 shares of the company's stock after selling 4,824 shares during the period. Teachers Retirement System of The State of Kentucky's holdings in Boston Beer were worth $950,000 as of its most recent filing with the SEC.

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

Wall Street Analysts Forecast Growth

SAM has been the subject of a number of analyst reports. Piper Sandler lifted their price objective on Boston Beer from $325.00 to $330.00 and gave the stock an "overweight" rating in a research note on Friday, October 25th. Deutsche Bank Aktiengesellschaft decreased their target price on Boston Beer from $281.00 to $277.00 and set a "hold" rating for the company in a research report on Thursday, October 24th. Jefferies Financial Group downgraded shares of Boston Beer from a "buy" rating to a "hold" rating and cut their price target for the company from $355.00 to $325.00 in a research report on Friday, October 25th. Royal Bank of Canada restated a "sector perform" rating and set a $318.00 price objective on shares of Boston Beer in a report on Friday, October 25th. Finally, Needham & Company LLC began coverage on shares of Boston Beer in a research report on Friday, December 6th. They set a "hold" rating on the stock. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $314.82.

Boston Beer Stock Up 1.8 %

SAM traded up $5.60 during trading on Thursday, hitting $308.59. The company had a trading volume of 93,031 shares, compared to its average volume of 151,290. The company has a market capitalization of $3.54 billion, a PE ratio of 45.38, a PEG ratio of 1.21 and a beta of 1.07. The Boston Beer Company, Inc. has a one year low of $254.40 and a one year high of $371.65. The firm's 50-day moving average price is $305.48 and its 200 day moving average price is $290.56.

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.