New York State Teachers Retirement System Trims Stake in The Boston Beer Company, Inc. (NYSE:SAM)

New York State Teachers Retirement System reduced its position in shares of The Boston Beer Company, Inc. (NYSE:SAM) by 4.2% in the third quarter, Holdings Channel reports. The firm owned 13,993 shares of the company’s stock after selling 609 shares during the period. New York State Teachers Retirement System’s holdings in Boston Beer were worth $4,046,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its position in shares of Boston Beer by 17.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 182,972 shares of the company’s stock valued at $55,814,000 after purchasing an additional 26,538 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Boston Beer by 8.1% in the second quarter. Bank of New York Mellon Corp now owns 133,486 shares of the company’s stock worth $40,720,000 after purchasing an additional 9,997 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its stake in Boston Beer by 80.0% in the second quarter. D. E. Shaw & Co. Inc. now owns 114,736 shares of the company’s stock worth $35,000,000 after purchasing an additional 51,003 shares during the last quarter. Armistice Capital LLC lifted its stake in Boston Beer by 1.1% in the second quarter. Armistice Capital LLC now owns 97,292 shares of the company’s stock worth $29,679,000 after purchasing an additional 1,093 shares during the last quarter. Finally, Mesirow Institutional Investment Management Inc. bought a new position in shares of Boston Beer during the second quarter valued at about $16,014,000. 81.13% of the stock is currently owned by hedge funds and other institutional investors.

Boston Beer Stock Up 0.0 %

Shares of SAM opened at $300.19 on Thursday. The company has a market capitalization of $3.45 billion, a P/E ratio of 44.20, a price-to-earnings-growth ratio of 1.14 and a beta of 1.06. The firm has a 50 day moving average of $282.24 and a 200 day moving average of $282.89. The Boston Beer Company, Inc. has a twelve month low of $254.40 and a twelve month high of $371.65.

Analysts Set New Price Targets

Several brokerages have recently commented on SAM. Jefferies Financial Group downgraded shares of Boston Beer from a “buy” rating to a “hold” rating and lowered their price objective for the company from $355.00 to $325.00 in a research note on Friday, October 25th. Royal Bank of Canada reiterated a “sector perform” rating and set a $318.00 price target on shares of Boston Beer in a research report on Friday, October 25th. UBS Group boosted their price target on shares of Boston Beer from $300.00 to $309.00 in a research report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Boston Beer from $281.00 to $277.00 and set a “hold” rating on the stock in a research report on Thursday, October 24th. Finally, Roth Mkm restated a “buy” rating and issued a $389.00 price objective on shares of Boston Beer in a report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $314.82.

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.