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

Principal Financial Group Inc. lowered its position in shares of The Boston Beer Company, Inc. (NYSE:SAM - Free Report) by 33.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 20,420 shares of the company's stock after selling 10,051 shares during the quarter. Principal Financial Group Inc. owned approximately 0.18% of Boston Beer worth $5,904,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Point72 Hong Kong Ltd acquired a new position in shares of Boston Beer in the 3rd quarter valued at $1,746,000. Savant Capital LLC purchased a new stake in Boston Beer during the second quarter valued at about $982,000. Barclays PLC raised its holdings in shares of Boston Beer by 44.2% in the 3rd quarter. Barclays PLC now owns 12,988 shares of the company's stock worth $3,753,000 after purchasing an additional 3,983 shares during the period. SW Investment Management LLC acquired a new position in shares of Boston Beer in the 2nd quarter valued at about $1,525,000. Finally, Verition Fund Management LLC grew its holdings in shares of Boston Beer by 582.6% during the 3rd quarter. Verition Fund Management LLC now owns 19,693 shares of the company's stock worth $5,694,000 after purchasing an additional 16,808 shares during the period. 81.13% of the stock is owned by hedge funds and other institutional investors.

Boston Beer Price Performance

Shares of SAM stock traded up $1.28 on Thursday, hitting $301.26. 74,634 shares of the stock traded hands, compared to its average volume of 150,295. The company's fifty day moving average is $308.12 and its 200 day moving average is $291.19. The Boston Beer Company, Inc. has a 1-year low of $254.40 and a 1-year high of $371.65. The company has a market capitalization of $3.46 billion, a PE ratio of 44.30, a PEG ratio of 1.21 and a beta of 1.07.

Analyst Upgrades and Downgrades

SAM has been the topic of several research reports. Jefferies Financial Group lowered shares of Boston Beer from a "buy" rating to a "hold" rating and cut their price target for the company from $355.00 to $325.00 in a report on Friday, October 25th. Royal Bank of Canada reiterated a "sector perform" rating and set a $318.00 target price on shares of Boston Beer in a report on Friday, October 25th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Boston Beer from $281.00 to $277.00 and set a "hold" rating on the stock in a research report on Thursday, October 24th. Roth Mkm restated a "buy" rating and issued a $389.00 target price on shares of Boston Beer in a research note on Wednesday, October 23rd. Finally, Needham & Company LLC started coverage on shares of Boston Beer in a research report on Friday, December 6th. They issued a "hold" rating for the company. One research analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, Boston Beer currently has a consensus rating of "Hold" and an average price target of $314.82.

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.