Allspring Global Investments Holdings LLC Sells 337 Shares of The Boston Beer Company, Inc. (NYSE:SAM)

Allspring Global Investments Holdings LLC lessened its holdings in The Boston Beer Company, Inc. (NYSE:SAM) by 17.3% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,607 shares of the company’s stock after selling 337 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Boston Beer were worth $465,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in SAM. Los Angeles Capital Management LLC raised its stake in Boston Beer by 0.5% during the 2nd 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 during the period. Gagnon Securities LLC raised its position in shares of Boston Beer by 0.5% during the first quarter. Gagnon Securities LLC now owns 16,893 shares of the company’s stock valued at $5,143,000 after buying an additional 80 shares during the last quarter. QV Investors Inc. grew its holdings in shares of Boston Beer by 0.4% in the third quarter. QV Investors Inc. now owns 20,650 shares of the company’s stock valued at $5,971,000 after purchasing an additional 80 shares in the last quarter. DekaBank Deutsche Girozentrale grew its holdings in shares of Boston Beer by 61.3% in the second quarter. DekaBank Deutsche Girozentrale now owns 250 shares of the company’s stock valued at $75,000 after purchasing an additional 95 shares in the last quarter. Finally, LRI Investments LLC purchased a new position in shares of Boston Beer in the first quarter valued at $28,000. Institutional investors own 81.13% of the company’s stock.

Analyst Upgrades and Downgrades

SAM has been the subject of a number of recent research reports. Roth Mkm reissued a “buy” rating and issued a $389.00 target price on shares of Boston Beer in a report on Wednesday, October 23rd. Jefferies Financial Group lowered shares of Boston Beer from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $355.00 to $325.00 in a research note on Friday, October 25th. Deutsche Bank Aktiengesellschaft dropped 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. Piper Sandler boosted their target price on shares of Boston Beer from $325.00 to $330.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $318.00 price objective on shares of Boston Beer 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 given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $314.82.

Boston Beer Stock Performance

Shares of SAM stock opened at $295.06 on Friday. The Boston Beer Company, Inc. has a fifty-two week low of $254.40 and a fifty-two week high of $371.65. The firm has a market capitalization of $3.46 billion, a price-to-earnings ratio of 43.39, a PEG ratio of 1.15 and a beta of 1.06. The stock’s 50-day simple moving average is $281.50 and its 200-day simple moving average is $282.64.

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.