Allspring Global Investments Holdings LLC Sells 337 Shares of The Boston Beer Company, Inc. (NYSE:SAM)

Allspring Global Investments Holdings LLC trimmed its holdings in The Boston Beer Company, Inc. (NYSE:SAM) by 17.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,607 shares of the company’s stock after selling 337 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Boston Beer were worth $465,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in SAM. Aaron Wealth Advisors LLC purchased a new stake in shares of Boston Beer in the third quarter valued at about $329,000. Claro Advisors LLC purchased a new stake in shares of Boston Beer in the third quarter valued at about $1,762,000. Cardinal Capital Management increased its holdings in Boston Beer by 17.5% during the third quarter. Cardinal Capital Management now owns 5,719 shares of the company’s stock worth $1,654,000 after buying an additional 850 shares during the last quarter. nVerses Capital LLC purchased a new stake in Boston Beer during the third quarter worth about $202,000. Finally, QV Investors Inc. increased 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 buying an additional 80 shares during the last quarter. 81.13% of the stock is owned by institutional investors.

Boston Beer Stock Up 1.4 %

Shares of NYSE SAM opened at $295.06 on Friday. The firm’s fifty day moving average is $281.50 and its 200 day moving average is $282.64. The company has a market cap of $3.46 billion, a price-to-earnings ratio of 43.39, a PEG ratio of 1.15 and a beta of 1.06. The Boston Beer Company, Inc. has a 52 week low of $254.40 and a 52 week high of $371.65.

Analyst Ratings Changes

A number of analysts recently issued reports on SAM shares. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Boston Beer from $281.00 to $277.00 and set a “hold” rating for the company in a report on Thursday, October 24th. Roth Mkm reiterated a “buy” rating and issued a $389.00 target price on shares of Boston Beer in a research note on Wednesday, October 23rd. UBS Group lifted their target price on shares of Boston Beer from $300.00 to $309.00 in a research note on Thursday, October 24th. Jefferies Financial Group lowered shares of Boston Beer from a “buy” rating to a “hold” rating and cut their price objective for the company from $355.00 to $325.00 in a research report on Friday, October 25th. Finally, Piper Sandler raised their price objective on shares of Boston Beer from $325.00 to $330.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $314.82.

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.