The Boston Beer Company, Inc. (NYSE:SAM) Shares Acquired by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp increased its position in The Boston Beer Company, Inc. (NYSE:SAM) by 18.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,776 shares of the company’s stock after acquiring an additional 1,539 shares during the period. Texas Permanent School Fund Corp’s holdings in Boston Beer were worth $2,982,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. LRI Investments LLC acquired a new stake in shares of Boston Beer in the 1st quarter worth about $28,000. Seven Eight Capital LP increased its stake in Boston Beer by 160.0% during the 1st quarter. Seven Eight Capital LP now owns 4,940 shares of the company’s stock valued at $1,504,000 after buying an additional 3,040 shares during the period. Trexquant Investment LP increased its stake in Boston Beer by 136.3% during the 4th quarter. Trexquant Investment LP now owns 13,171 shares of the company’s stock valued at $4,552,000 after buying an additional 7,598 shares during the period. Natixis acquired a new position in Boston Beer during the 1st quarter valued at about $3,044,000. Finally, Commerce Bank acquired a new position in Boston Beer during the 4th quarter valued at about $402,000. Institutional investors and hedge funds own 81.13% of the company’s stock.

Boston Beer Price Performance

Shares of SAM opened at $269.34 on Monday. The Boston Beer Company, Inc. has a one year low of $254.40 and a one year high of $395.52. The company has a 50-day moving average of $277.66 and a two-hundred day moving average of $285.73. The stock has a market cap of $3.16 billion, a price-to-earnings ratio of 33.79, a PEG ratio of 1.10 and a beta of 1.05.

Boston Beer (NYSE:SAM) last announced its earnings results on Thursday, July 25th. The company reported $4.39 EPS for the quarter, missing the consensus estimate of $4.99 by ($0.60). The firm had revenue of $579.10 million during the quarter, compared to analyst estimates of $597.33 million. Boston Beer had a return on equity of 9.69% and a net margin of 4.39%. The business’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.72 earnings per share. Analysts anticipate that The Boston Beer Company, Inc. will post 9.65 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have commented on SAM. Royal Bank of Canada lowered their target price on shares of Boston Beer from $332.00 to $318.00 and set a “sector perform” rating on the stock in a research note on Friday, July 26th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Boston Beer from $273.00 to $283.00 and gave the company a “hold” rating in a research note on Wednesday, July 17th. Morgan Stanley raised shares of Boston Beer from an “underweight” rating to an “equal weight” rating and set a $290.00 target price on the stock in a research note on Wednesday, June 5th. Piper Sandler lowered their price objective on shares of Boston Beer from $344.00 to $325.00 and set an “overweight” rating on the stock in a research note on Friday, July 26th. Finally, Roth Mkm lowered their price objective on shares of Boston Beer from $395.00 to $389.00 and set a “buy” rating on the stock in a research note on Friday, July 26th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $326.92.

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.