Louisiana State Employees Retirement System Purchases New Stake in The Boston Beer Company, Inc. (NYSE:SAM)

Louisiana State Employees Retirement System purchased a new stake in The Boston Beer Company, Inc. (NYSE:SAM) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 2,600 shares of the company’s stock, valued at approximately $899,000.

Several other hedge funds have also added to or reduced their stakes in the company. Cardinal Capital Management boosted its holdings in Boston Beer by 1.3% in the fourth quarter. Cardinal Capital Management now owns 2,784 shares of the company’s stock valued at $962,000 after acquiring an additional 36 shares during the last quarter. International Assets Investment Management LLC bought a new position in Boston Beer in the fourth quarter valued at about $64,490,000. Stratos Wealth Partners LTD. boosted its holdings in Boston Beer by 21.5% in the fourth quarter. Stratos Wealth Partners LTD. now owns 1,085 shares of the company’s stock valued at $375,000 after acquiring an additional 192 shares during the last quarter. New York State Teachers Retirement System lifted its stake in Boston Beer by 2.2% in the fourth quarter. New York State Teachers Retirement System now owns 13,633 shares of the company’s stock valued at $4,711,000 after buying an additional 291 shares during the period. Finally, Camelot Portfolios LLC boosted its holdings in Boston Beer by 69.0% during the fourth quarter. Camelot Portfolios LLC now owns 980 shares of the company’s stock worth $339,000 after buying an additional 400 shares during the last quarter. Institutional investors own 81.13% of the company’s stock.

Boston Beer Stock Performance

NYSE:SAM opened at $287.22 on Friday. The stock’s 50-day simple moving average is $306.46 and its 200 day simple moving average is $334.48. The company has a market cap of $3.45 billion, a P/E ratio of 46.33, a P/E/G ratio of 1.16 and a beta of 1.02. The Boston Beer Company, Inc. has a 52-week low of $274.78 and a 52-week high of $395.52.

Boston Beer (NYSE:SAM) last posted its quarterly earnings results on Tuesday, February 27th. The company reported ($1.49) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($1.27). Boston Beer had a return on equity of 8.13% and a net margin of 3.61%. The business had revenue of $393.72 million for the quarter, compared to the consensus estimate of $413.57 million. During the same quarter in the previous year, the business posted ($0.93) EPS. The company’s revenue for the quarter was down 12.0% on a year-over-year basis. As a group, equities analysts predict that The Boston Beer Company, Inc. will post 9.98 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SAM has been the topic of a number of analyst reports. Royal Bank of Canada reiterated a “sector perform” rating and issued a $337.00 price target on shares of Boston Beer in a research report on Wednesday, February 28th. Citigroup decreased their price target on shares of Boston Beer from $350.00 to $315.00 and set a “neutral” rating for the company in a report on Tuesday, April 16th. Morgan Stanley decreased their price target on shares of Boston Beer from $285.00 to $275.00 and set an “underweight” rating for the company in a report on Wednesday, February 28th. Piper Sandler initiated coverage on Boston Beer in a report on Friday, March 22nd. They set an “overweight” rating and a $350.00 target price on the stock. Finally, UBS Group reduced their target price on Boston Beer from $390.00 to $355.00 and set a “neutral” rating on the stock in a report on Wednesday, February 28th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Boston Beer currently has an average rating of “Hold” and an average target price of $334.86.

Insider Buying and Selling

In other news, insider Carolyn L. O’boyle sold 101 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $303.49, for a total transaction of $30,652.49. Following the completion of the sale, the insider now owns 7,029 shares in the company, valued at $2,133,231.21. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Carolyn L. O’boyle sold 101 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $303.49, for a total transaction of $30,652.49. Following the completion of the sale, the insider now owns 7,029 shares in the company, valued at $2,133,231.21. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Carolyn L. O’boyle sold 102 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $350.72, for a total value of $35,773.44. Following the sale, the insider now owns 2,630 shares of the company’s stock, valued at approximately $922,393.60. The disclosure for this sale can be found here. 23.30% of the stock is currently owned by corporate insiders.

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.