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

Texas Permanent School Fund Corp raised its stake in shares of The Boston Beer Company, Inc. (NYSE:SAM) by 18.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,776 shares of the company’s stock after purchasing an additional 1,539 shares during the period. Texas Permanent School Fund Corp owned 0.08% of Boston Beer worth $2,982,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Envestnet Portfolio Solutions Inc. increased its position in Boston Beer by 5.7% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 609 shares of the company’s stock worth $210,000 after purchasing an additional 33 shares during the last quarter. Treasurer of the State of North Carolina increased its position in shares of Boston Beer by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 4,167 shares of the company’s stock worth $1,440,000 after acquiring an additional 40 shares in the last quarter. Los Angeles Capital Management LLC increased its position in shares of Boston Beer by 0.5% in the second quarter. Los Angeles Capital Management LLC now owns 14,729 shares of the company’s stock worth $4,493,000 after acquiring an additional 74 shares in the last quarter. Gagnon Securities LLC increased its position in shares of Boston Beer by 0.5% in the first quarter. Gagnon Securities LLC now owns 16,893 shares of the company’s stock worth $5,143,000 after acquiring an additional 80 shares in the last quarter. Finally, Gilbert & Cook Inc. increased its position in shares of Boston Beer by 8.3% in the fourth quarter. Gilbert & Cook Inc. now owns 1,204 shares of the company’s stock worth $416,000 after acquiring an additional 92 shares in the last quarter. Institutional investors and hedge funds own 81.13% of the company’s stock.

Boston Beer Price Performance

NYSE SAM opened at $269.34 on Monday. The Boston Beer Company, Inc. has a 12 month low of $254.40 and a 12 month high of $395.52. The company has a market capitalization of $3.16 billion, a price-to-earnings ratio of 33.79, a price-to-earnings-growth ratio of 1.10 and a beta of 1.05. The company’s fifty day moving average price is $277.66 and its two-hundred day moving average price is $285.73.

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

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Royal Bank of Canada dropped their price objective on shares of Boston Beer from $332.00 to $318.00 and set a “sector perform” rating for the company in a research report on Friday, July 26th. Roth Mkm dropped their price objective on shares of Boston Beer from $395.00 to $389.00 and set a “buy” rating for the company in a research report on Friday, July 26th. Piper Sandler lowered their price target on shares of Boston Beer from $344.00 to $325.00 and set an “overweight” rating for the company in a report on Friday, July 26th. Morgan Stanley raised shares of Boston Beer from an “underweight” rating to an “equal weight” rating and set a $290.00 price target for the company in a report on Wednesday, June 5th. Finally, StockNews.com lowered shares of Boston Beer from a “buy” rating to a “hold” rating in a report on Wednesday, June 12th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price 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.