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

Teacher Retirement System of Texas raised its position in The Boston Beer Company, Inc. (NYSE:SAM) by 98.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 4,801 shares of the company’s stock after buying an additional 2,387 shares during the period. Teacher Retirement System of Texas’ holdings in Boston Beer were worth $1,440,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Entropy Technologies LP acquired a new position in shares of Boston Beer during the fourth quarter valued at $368,000. Legato Capital Management LLC bought a new stake in Boston Beer during the 4th quarter worth about $1,966,000. Merit Financial Group LLC acquired a new position in Boston Beer during the 4th quarter valued at about $434,000. Point72 Hong Kong Ltd bought a new position in shares of Boston Beer in the 3rd quarter valued at about $1,746,000. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Boston Beer by 5.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 94,356 shares of the company’s stock worth $28,305,000 after buying an additional 4,675 shares during the period. 81.13% of the stock is currently owned by institutional investors.

Boston Beer Price Performance

NYSE:SAM opened at $238.83 on Friday. The business’s 50-day simple moving average is $237.67 and its 200-day simple moving average is $274.17. The Boston Beer Company, Inc. has a fifty-two week low of $215.10 and a fifty-two week high of $339.77. The stock has a market capitalization of $2.69 billion, a PE ratio of 35.12, a price-to-earnings-growth ratio of 1.23 and a beta of 1.14.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on SAM shares. Needham & Company LLC began coverage on shares of Boston Beer in a report on Friday, December 6th. They issued a “hold” rating on the stock. Roth Mkm restated a “buy” rating and issued a $349.00 price target (down from $389.00) on shares of Boston Beer in a research report on Wednesday, February 26th. StockNews.com downgraded Boston Beer from a “buy” rating to a “hold” rating in a report on Wednesday, March 5th. Citigroup raised Boston Beer from a “neutral” rating to a “buy” rating and increased their target price for the company from $265.00 to $280.00 in a research note on Thursday, March 20th. Finally, Morgan Stanley decreased their target price on Boston Beer from $290.00 to $270.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $292.40.

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.