The Boston Beer Company, Inc. (NYSE:SAM) Holdings Trimmed by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its holdings in The Boston Beer Company, Inc. (NYSE:SAM) by 33.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,420 shares of the company’s stock after selling 10,051 shares during the period. Principal Financial Group Inc. owned about 0.17% of Boston Beer worth $5,904,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Dimensional Fund Advisors LP grew its holdings 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 acquiring an additional 26,538 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Boston Beer by 8.1% during the 2nd 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 in the last quarter. D. E. Shaw & Co. Inc. lifted its holdings in shares of Boston Beer by 80.0% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 114,736 shares of the company’s stock valued at $35,000,000 after buying an additional 51,003 shares during the last quarter. Armistice Capital LLC grew its stake in shares of Boston Beer by 1.1% in the 2nd quarter. Armistice Capital LLC now owns 97,292 shares of the company’s stock valued at $29,679,000 after buying an additional 1,093 shares in the last quarter. Finally, Mesirow Institutional Investment Management Inc. acquired a new position in Boston Beer in the second quarter worth approximately $16,014,000. Hedge funds and other institutional investors own 81.13% of the company’s stock.

Boston Beer Trading Down 0.8 %

SAM opened at $309.16 on Thursday. The business has a 50 day moving average of $290.59 and a 200-day moving average of $285.15. The stock has a market capitalization of $3.55 billion, a price-to-earnings ratio of 45.46, a P/E/G ratio of 1.22 and a beta of 1.06. The Boston Beer Company, Inc. has a 1-year low of $254.40 and a 1-year high of $371.65.

Analyst Ratings Changes

SAM has been the subject of a number of analyst reports. Jefferies Financial Group cut shares of Boston Beer from a “buy” rating to a “hold” rating and reduced their target price for the company from $355.00 to $325.00 in a research note on Friday, October 25th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Boston Beer from $281.00 to $277.00 and set a “hold” rating for the company in a research note on Thursday, October 24th. Roth Mkm reissued a “buy” rating and set a $389.00 target price on shares of Boston Beer in a research report on Wednesday, October 23rd. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $318.00 price target on shares of Boston Beer in a research report on Friday, October 25th. Finally, Piper Sandler increased their price objective on Boston Beer from $325.00 to $330.00 and gave the company an “overweight” rating in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $314.82.

Boston Beer 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.