New York State Common Retirement Fund Reduces Position in Boston Beer Company Inc (NYSE:SAM)

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New York State Common Retirement Fund reduced its holdings in Boston Beer Company Inc (NYSE:SAM) by 55.4% during the first quarter, HoldingsChannel reports. The firm owned 8,300 shares of the company’s stock after selling 10,313 shares during the period. New York State Common Retirement Fund’s holdings in Boston Beer were worth $2,446,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in SAM. Arizona State Retirement System grew its stake in Boston Beer by 0.7% in the 4th quarter. Arizona State Retirement System now owns 6,174 shares of the company’s stock valued at $1,487,000 after purchasing an additional 43 shares during the period. Nisa Investment Advisors LLC increased its stake in Boston Beer by 1.7% during the 1st quarter. Nisa Investment Advisors LLC now owns 2,950 shares of the company’s stock worth $869,000 after buying an additional 50 shares during the period. Cardinal Capital Management increased its stake in Boston Beer by 1.7% during the 1st quarter. Cardinal Capital Management now owns 3,260 shares of the company’s stock worth $960,000 after buying an additional 56 shares during the period. Bank of Montreal Can increased its stake in Boston Beer by 19.8% during the 4th quarter. Bank of Montreal Can now owns 351 shares of the company’s stock worth $85,000 after buying an additional 58 shares during the period. Finally, Thrivent Financial for Lutherans increased its stake in Boston Beer by 3.9% during the 4th quarter. Thrivent Financial for Lutherans now owns 2,189 shares of the company’s stock worth $527,000 after buying an additional 82 shares during the period. 74.64% of the stock is currently owned by institutional investors and hedge funds.

Boston Beer stock opened at $338.21 on Thursday. The stock has a market cap of $3.89 billion, a price-to-earnings ratio of 45.28, a PEG ratio of 3.88 and a beta of 0.55. Boston Beer Company Inc has a 52-week low of $230.93 and a 52-week high of $353.02.

Boston Beer (NYSE:SAM) last posted its earnings results on Wednesday, April 24th. The company reported $1.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.98. The firm had revenue of $252.00 million during the quarter, compared to analyst estimates of $232.19 million. Boston Beer had a net margin of 9.94% and a return on equity of 23.00%. Boston Beer’s revenue was up 32.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.55 EPS. Equities research analysts predict that Boston Beer Company Inc will post 8.59 earnings per share for the current fiscal year.

SAM has been the subject of several recent analyst reports. Macquarie raised their price objective on shares of Boston Beer from $325.00 to $365.00 and gave the stock a “neutral” rating in a report on Friday, May 10th. Credit Suisse Group initiated coverage on shares of Boston Beer in a report on Monday. They set a “neutral” rating and a $320.00 price objective for the company. Zacks Investment Research lowered shares of Boston Beer from a “buy” rating to a “hold” rating in a report on Tuesday, March 12th. ValuEngine raised shares of Boston Beer from a “buy” rating to a “strong-buy” rating in a report on Friday, February 22nd. Finally, Citigroup set a $311.00 price objective on shares of Boston Beer and gave the stock a “hold” rating in a report on Tuesday, February 26th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $286.37.

In other Boston Beer news, VP David L. Grinnell sold 500 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $342.50, for a total transaction of $171,250.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP David L. Grinnell sold 1,000 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $331.25, for a total transaction of $331,250.00. The disclosure for this sale can be found here. Insiders have sold a total of 14,605 shares of company stock valued at $4,349,825 over the last three months. 28.40% of the stock is currently owned by company insiders.

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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, and hard seltzers under the Samuel Adams, Twisted Tea, Angry Orchard Hard Cider, and Truly Hard Seltzer brand names.

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Want to see what other hedge funds are holding SAM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Boston Beer Company Inc (NYSE:SAM).

Institutional Ownership by Quarter for Boston Beer (NYSE:SAM)

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