Principal Financial Group Inc. Sells 10,051 Shares of The Boston Beer Company, Inc. (NYSE:SAM)

Principal Financial Group Inc. trimmed 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 Securities & Exchange Commission. The institutional investor owned 20,420 shares of the company's stock after selling 10,051 shares during the quarter. Principal Financial Group Inc. owned 0.17% of Boston Beer worth $5,904,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Los Angeles Capital Management LLC boosted its holdings in Boston Beer by 0.5% during the second quarter. Los Angeles Capital Management LLC now owns 14,729 shares of the company's stock worth $4,493,000 after purchasing an additional 74 shares during the last quarter. QV Investors Inc. grew its holdings in Boston Beer by 0.4% during the third quarter. QV Investors Inc. now owns 20,650 shares of the company's stock worth $5,971,000 after purchasing an additional 80 shares during the period. DekaBank Deutsche Girozentrale increased its position in Boston Beer by 61.3% during the second quarter. DekaBank Deutsche Girozentrale now owns 250 shares of the company's stock worth $75,000 after buying an additional 95 shares during the last quarter. LRI Investments LLC bought a new stake in Boston Beer in the 1st quarter valued at $28,000. Finally, Creative Planning raised its position in shares of Boston Beer by 6.5% in the third quarter. Creative Planning now owns 2,540 shares of the company's stock valued at $734,000 after purchasing an additional 155 shares during the period. 81.13% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on SAM shares. Piper Sandler increased their target price 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. Deutsche Bank Aktiengesellschaft lowered their price objective on Boston Beer from $281.00 to $277.00 and set a "hold" rating on the stock in a research note on Thursday, October 24th. Royal Bank of Canada reiterated a "sector perform" rating and set a $318.00 target price on shares of Boston Beer in a research report on Friday, October 25th. Jefferies Financial Group lowered Boston Beer from a "buy" rating to a "hold" rating and reduced their target price for the stock from $355.00 to $325.00 in a report on Friday, October 25th. Finally, Roth Mkm reaffirmed a "buy" rating and issued a $389.00 price target on shares of Boston Beer in a research note on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $314.82.

Boston Beer Price Performance

Boston Beer stock opened at $309.16 on Thursday. 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 $3.55 billion, a P/E ratio of 45.46, a P/E/G ratio of 1.22 and a beta of 1.06. The business has a 50 day moving average of $290.59 and a 200-day moving average of $285.15.

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.