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

Retirement Systems of Alabama trimmed its position in The Boston Beer Company, Inc. (NYSE:SAM) by 39.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 10,463 shares of the company’s stock after selling 6,748 shares during the period. Retirement Systems of Alabama’s holdings in Boston Beer were worth $3,139,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Merit Financial Group LLC purchased a new position in shares of Boston Beer during the 4th quarter worth about $434,000. Point72 Hong Kong Ltd purchased a new position in shares of Boston Beer during the 3rd quarter worth about $1,746,000. Barclays PLC lifted its holdings in shares of Boston Beer by 44.2% during the 3rd quarter. Barclays PLC now owns 12,988 shares of the company’s stock worth $3,753,000 after acquiring an additional 3,983 shares during the period. Verition Fund Management LLC lifted its holdings in shares of Boston Beer by 582.6% during the 3rd quarter. Verition Fund Management LLC now owns 19,693 shares of the company’s stock worth $5,694,000 after acquiring an additional 16,808 shares during the period. Finally, CWM LLC lifted its holdings in shares of Boston Beer by 726.0% during the 3rd quarter. CWM LLC now owns 5,146 shares of the company’s stock worth $1,488,000 after acquiring an additional 4,523 shares during the period. 81.13% of the stock is currently owned by hedge funds and other institutional investors.

Boston Beer Stock Down 0.8 %

Shares of NYSE:SAM opened at $233.14 on Wednesday. The Boston Beer Company, Inc. has a 52-week low of $231.01 and a 52-week high of $371.65. The company has a 50 day moving average of $278.11 and a two-hundred day moving average of $284.19. The company has a market capitalization of $2.68 billion, a price-to-earnings ratio of 34.29, a price-to-earnings-growth ratio of 0.78 and a beta of 1.06.

Analysts Set New Price Targets

Several research analysts have recently weighed in on SAM shares. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Boston Beer from $281.00 to $277.00 and set a “hold” rating on the stock in a report on Thursday, October 24th. UBS Group dropped 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 report on Thursday, January 16th. Needham & Company LLC started coverage on shares of Boston Beer in a research report on Friday, December 6th. They set a “hold” rating for the company. Piper Sandler downgraded shares of Boston Beer from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $370.00 to $275.00 in a research report on Thursday, January 23rd. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $318.00 target price on shares of Boston Beer in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $302.90.

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.