Todays Report: Today, Texas Permanent School Fund Reached $1,071,000 position of Boston Beer Co. (SAM)

Today, Texas Permanent School Fund Reached $1,071,000 position  of Boston Beer Co. (SAM)

Texas Permanent School Fund cut its stake in shares of Boston Beer Co. (NYSE:SAM) by 3.4% during the third quarter, Holdings Channel reports. The firm owned 6,899 shares of the company’s stock after selling 240 shares during the period. Texas Permanent School Fund owned about 0.06% of Boston Beer worth $1,071,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Acadian Asset Management LLC increased its position in shares of Boston Beer by 22.7% in the third quarter. Acadian Asset Management LLC now owns 8,619 shares of the company’s stock valued at $1,338,000 after buying an additional 1,597 shares during the period. BTIM Corp. increased its position in shares of Boston Beer by 0.5% in the third quarter. BTIM Corp. now owns 101,154 shares of the company’s stock valued at $15,706,000 after buying an additional 519 shares during the period. Algert Global LLC increased its position in shares of Boston Beer by 13.5% in the third quarter. Algert Global LLC now owns 4,122 shares of the company’s stock valued at $640,000 after buying an additional 490 shares during the period. Fisher Asset Management LLC increased its position in Boston Beer by 0.8% in the third quarter. Fisher Asset Management LLC now owns 348,515 shares of the company’s stock worth $54,110,000 after buying an additional 2,842 shares during the period. Finally, Oregon Public Employees Retirement Fund increased its position in Boston Beer by 2.0% in the third quarter. Oregon Public Employees Retirement Fund now owns 3,264 shares of the company’s stock worth $507,000 after buying an additional 64 shares during the period. Institutional investors and hedge funds own 62.72% of the company’s stock.

Boston Beer Co. (NYSE:SAM) traded up 0.49% during mid-day trading on Friday, hitting $174.90. 44,015 shares of the company were exchanged. Boston Beer Co. has a 12-month low of $145.30 and a 12-month high of $222.57. The company has a market cap of $2.17 billion, a price-to-earnings ratio of 28.02 and a beta of 0.38. The stock’s 50 day moving average is $162.63 and its 200-day moving average is $166.36.

Boston Beer (NYSE:SAM) last announced its earnings results on Thursday, October 20th. The company reported $2.48 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.60 by $0.12. Boston Beer had a return on equity of 18.49% and a net margin of 8.68%. The company had revenue of $253.40 million for the quarter, compared to the consensus estimate of $278.91 million. During the same period last year, the firm posted $2.85 EPS. The company’s revenue was down 13.5% compared to the same quarter last year. Equities research analysts predict that Boston Beer Co. will post $6.37 EPS for the current year.

A number of research analysts have commented on the stock. RBC Capital Markets reiterated a “sector perform” rating and set a $158.00 price objective (down from $172.00) on shares of Boston Beer in a research note on Saturday, October 22nd. Jefferies Group reduced their price objective on shares of Boston Beer from $151.00 to $140.00 and set a “hold” rating on the stock in a research note on Friday, October 21st. Royal Bank Of Canada reduced their price objective on shares of Boston Beer from $172.00 to $158.00 and set a “sector perform” rating on the stock in a research note on Friday, October 21st. Susquehanna reiterated a “hold” rating and set a $160.00 price objective on shares of Boston Beer in a research note on Tuesday, October 18th. Finally, Berenberg Bank downgraded shares of Boston Beer from a “hold” rating to a “sell” rating and set a $135.00 price objective on the stock. in a research note on Friday, October 14th. Five investment analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $160.09.

In related news, Chairman C James Koch sold 432 shares of the business’s stock in a transaction on Friday, November 4th. The shares were sold at an average price of $157.91, for a total transaction of $68,217.12. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Martin F. Roper sold 5,000 shares of the business’s stock in a transaction on Wednesday, September 28th. The stock was sold at an average price of $150.07, for a total transaction of $750,350.00. Following the transaction, the insider now directly owns 37,273 shares in the company, valued at approximately $5,593,559.11. The disclosure for this sale can be found here. Corporate insiders own 31.30% of the company’s stock.

Boston Beer Company Profile

The Boston Beer Company, Inc (Boston Beer) is a craft brewer in the United States. The Company is engaged in the business of producing and selling alcohol beverages primarily in the domestic market and in international markets. The Company operates through two segments: Boston Beer Company segment and A&S Brewing Collaborative segment.

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