Nomura Asset Management Co. Ltd. Sells 1,643 Shares of The Boston Beer Company, Inc. (NYSE:SAM)

Nomura Asset Management Co. Ltd. reduced its stake in shares of The Boston Beer Company, Inc. (NYSE:SAM - Free Report) by 53.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,411 shares of the company's stock after selling 1,643 shares during the quarter. Nomura Asset Management Co. Ltd.'s holdings in Boston Beer were worth $423,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of SAM. Norges Bank bought a new position in Boston Beer during the 4th quarter valued at approximately $30,741,000. Global Alpha Capital Management Ltd. purchased a new stake in Boston Beer in the fourth quarter worth $23,349,000. Fisher Asset Management LLC lifted its stake in Boston Beer by 27.1% in the fourth quarter. Fisher Asset Management LLC now owns 160,419 shares of the company's stock worth $48,122,000 after acquiring an additional 34,176 shares during the period. Wealthfront Advisers LLC bought a new stake in Boston Beer in the fourth quarter valued at $6,528,000. Finally, WINTON GROUP Ltd purchased a new position in Boston Beer during the 4th quarter valued at $6,471,000. Institutional investors own 81.13% of the company's stock.

Boston Beer Stock Performance

Shares of NYSE:SAM traded up $2.41 during trading on Friday, reaching $245.70. 405,574 shares of the stock traded hands, compared to its average volume of 170,344. The stock has a market cap of $2.76 billion, a P/E ratio of 36.13, a price-to-earnings-growth ratio of 1.23 and a beta of 1.26. The stock has a 50-day moving average of $237.08 and a two-hundred day moving average of $273.25. The Boston Beer Company, Inc. has a 52-week low of $215.10 and a 52-week high of $339.77.

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Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Roth Mkm reaffirmed a "buy" rating and set a $349.00 target price (down previously from $389.00) on shares of Boston Beer in a research note on Wednesday, February 26th. Morgan Stanley lowered their price objective on shares of Boston Beer from $290.00 to $270.00 and set an "equal weight" rating for the company in a report on Wednesday, February 26th. Piper Sandler reduced their target price on Boston Beer from $275.00 to $240.00 and set a "neutral" rating on the stock in a report on Wednesday, February 26th. UBS Group lowered their target price on Boston Beer from $315.00 to $290.00 and set a "neutral" rating for the company in a research note on Thursday, January 16th. Finally, Berenberg Bank initiated coverage on Boston Beer in a research report on Wednesday. They set a "hold" rating and a $281.10 price target on the stock. One investment 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's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $291.37.

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.