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

Nomura Asset Management Co. Ltd. decreased its holdings in The Boston Beer Company, Inc. (NYSE:SAM - Free Report) by 53.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor 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 have also added to or reduced their stakes in SAM. Entropy Technologies LP purchased a new stake in shares of Boston Beer in the fourth quarter valued at about $368,000. Legato Capital Management LLC bought a new stake in Boston Beer in the 4th quarter worth about $1,966,000. Merit Financial Group LLC purchased a new stake in Boston Beer in the 4th quarter valued at about $434,000. Charles Schwab Investment Management Inc. lifted its position in shares of Boston Beer by 5.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 94,356 shares of the company's stock worth $28,305,000 after buying an additional 4,675 shares in the last quarter. Finally, Alberta Investment Management Corp boosted its stake in shares of Boston Beer by 67.2% in the 4th quarter. Alberta Investment Management Corp now owns 11,540 shares of the company's stock worth $3,462,000 after buying an additional 4,640 shares during the last quarter. Institutional investors and hedge funds own 81.13% of the company's stock.

Boston Beer Stock Performance

Boston Beer stock traded down $8.13 during mid-day trading on Tuesday, reaching $228.00. The company's stock had a trading volume of 194,881 shares, compared to its average volume of 171,032. The company has a market capitalization of $2.56 billion, a P/E ratio of 33.53, a PEG ratio of 1.23 and a beta of 1.26. The firm's fifty day moving average price is $235.79 and its two-hundred day moving average price is $272.36. The Boston Beer Company, Inc. has a 12-month low of $215.10 and a 12-month high of $339.77.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Piper Sandler dropped their price target on Boston Beer from $275.00 to $240.00 and set a "neutral" rating on the stock in a report on Wednesday, February 26th. Roth Mkm reiterated a "buy" rating and set a $349.00 target price (down from $389.00) on shares of Boston Beer in a research note on Wednesday, February 26th. StockNews.com lowered shares of Boston Beer from a "buy" rating to a "hold" rating in a research report on Wednesday, March 5th. UBS Group decreased their price objective on shares of Boston Beer from $315.00 to $290.00 and set a "neutral" rating for the company in a report on Thursday, January 16th. Finally, Morgan Stanley dropped their target price on shares of Boston Beer from $290.00 to $270.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $291.37.

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.