Russell Investments Group Ltd. Sells 5,522 Shares of The Boston Beer Company, Inc. (NYSE:SAM)

Russell Investments Group Ltd. trimmed its stake in shares of The Boston Beer Company, Inc. (NYSE:SAM - Free Report) by 51.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 5,276 shares of the company's stock after selling 5,522 shares during the quarter. Russell Investments Group Ltd.'s holdings in Boston Beer were worth $1,583,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Fisher Asset Management LLC lifted its position in shares of Boston Beer by 27.1% during the 4th quarter. Fisher Asset Management LLC now owns 160,419 shares of the company's stock worth $48,122,000 after buying an additional 34,176 shares during the last quarter. Norges Bank acquired a new position in Boston Beer in the 4th quarter worth about $30,741,000. Charles Schwab Investment Management Inc. increased its holdings in Boston Beer by 5.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 94,356 shares of the company's stock worth $28,305,000 after purchasing an additional 4,675 shares in the last quarter. Global Alpha Capital Management Ltd. acquired a new position in Boston Beer in the 4th quarter worth about $23,349,000. Finally, Wealthfront Advisers LLC acquired a new position in Boston Beer in the 4th quarter worth about $6,528,000. 81.13% of the stock is currently owned by institutional investors.

Boston Beer Stock Performance

Boston Beer stock traded down $0.39 during mid-day trading on Thursday, reaching $245.03. The stock had a trading volume of 11,278 shares, compared to its average volume of 171,411. The Boston Beer Company, Inc. has a fifty-two week low of $215.10 and a fifty-two week high of $339.77. The stock's 50-day simple moving average is $236.09 and its 200-day simple moving average is $269.22. The firm has a market capitalization of $2.76 billion, a PE ratio of 36.03, a price-to-earnings-growth ratio of 1.23 and a beta of 1.26.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Berenberg Bank assumed coverage on Boston Beer in a report on Wednesday, April 2nd. They issued a "hold" rating and a $281.10 target price for the company. Morgan Stanley lowered their target price on Boston Beer from $290.00 to $270.00 and set an "equal weight" rating for the company in a report on Wednesday, February 26th. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $279.00 target price on shares of Boston Beer in a report on Tuesday. StockNews.com cut Boston Beer from a "buy" rating to a "hold" rating in a report on Wednesday, March 5th. Finally, Piper Sandler decreased their price target on Boston Beer from $240.00 to $230.00 and set a "neutral" rating for the company in a research note on Thursday, April 17th. Ten research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, Boston Beer currently has an average rating of "Hold" and an average price target of $290.01.

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.