Principal Financial Group Inc. Lowers Stock Position in The Boston Beer Company, Inc. (NYSE:SAM)

Principal Financial Group Inc. decreased its position in The Boston Beer Company, Inc. (NYSE:SAM) by 33.0% in the third quarter, Holdings Channel reports. The institutional investor owned 20,420 shares of the company’s stock after selling 10,051 shares during the period. Principal Financial Group Inc.’s holdings in Boston Beer were worth $5,904,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of SAM. Covestor Ltd grew its position in shares of Boston Beer by 36.6% during the 3rd quarter. Covestor Ltd now owns 127 shares of the company’s stock valued at $37,000 after acquiring an additional 34 shares during the period. First Horizon Advisors Inc. grew its holdings in Boston Beer by 105.1% in the third quarter. First Horizon Advisors Inc. now owns 121 shares of the company’s stock valued at $35,000 after purchasing an additional 62 shares during the period. Great Valley Advisor Group Inc. increased its position in shares of Boston Beer by 8.5% in the third quarter. Great Valley Advisor Group Inc. now owns 867 shares of the company’s stock valued at $251,000 after buying an additional 68 shares in the last quarter. National Bank of Canada FI raised its stake in shares of Boston Beer by 10.0% during the 3rd quarter. National Bank of Canada FI now owns 793 shares of the company’s stock worth $229,000 after buying an additional 72 shares during the period. Finally, Los Angeles Capital Management LLC lifted its position in shares of Boston Beer by 0.5% during the 2nd quarter. Los Angeles Capital Management LLC now owns 14,729 shares of the company’s stock valued at $4,493,000 after buying an additional 74 shares in the last quarter. Institutional investors and hedge funds own 81.13% of the company’s stock.

Boston Beer Stock Up 0.6 %

Shares of SAM opened at $299.98 on Thursday. The stock has a fifty day simple moving average of $308.13 and a two-hundred day simple moving average of $291.12. The company has a market capitalization of $3.45 billion, a PE ratio of 44.11, a price-to-earnings-growth ratio of 1.21 and a beta of 1.07. The Boston Beer Company, Inc. has a 52-week low of $254.40 and a 52-week high of $371.65.

Wall Street Analyst Weigh In

SAM has been the subject of a number of research analyst reports. 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 report on Thursday, October 24th. Piper Sandler upped their price target on shares of Boston Beer from $325.00 to $330.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. UBS Group boosted their price objective on Boston Beer from $300.00 to $309.00 in a research note on Thursday, October 24th. Needham & Company LLC assumed coverage on Boston Beer in a research report on Friday, December 6th. They issued a “hold” rating on the stock. Finally, 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. One analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Boston Beer currently has a consensus rating of “Hold” and a consensus 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.