Allspring Global Investments Holdings LLC Has $233,000 Stake in The Boston Beer Company, Inc. (NYSE:SAM)

Allspring Global Investments Holdings LLC cut its stake in The Boston Beer Company, Inc. (NYSE:SAM) by 51.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 773 shares of the company’s stock after selling 834 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Boston Beer were worth $233,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. State Street Corp lifted its holdings in shares of Boston Beer by 7.8% in the third quarter. State Street Corp now owns 292,643 shares of the company’s stock valued at $84,615,000 after purchasing an additional 21,276 shares in the last quarter. Quantinno Capital Management LP raised its position in Boston Beer by 647.7% in the 3rd quarter. Quantinno Capital Management LP now owns 21,064 shares of the company’s stock valued at $6,090,000 after buying an additional 18,247 shares during the last quarter. Verition Fund Management LLC lifted its stake in Boston Beer by 582.6% in the 3rd quarter. Verition Fund Management LLC now owns 19,693 shares of the company’s stock valued at $5,694,000 after acquiring an additional 16,808 shares in the last quarter. Holocene Advisors LP boosted its position in Boston Beer by 130.9% during the 3rd quarter. Holocene Advisors LP now owns 17,431 shares of the company’s stock worth $5,040,000 after acquiring an additional 9,882 shares during the last quarter. Finally, Cerity Partners LLC bought a new position in shares of Boston Beer during the 3rd quarter worth approximately $2,750,000. 81.13% of the stock is owned by institutional investors and hedge funds.

Boston Beer Stock Up 0.1 %

SAM stock opened at $234.08 on Wednesday. The company’s 50-day moving average price is $261.05 and its two-hundred day moving average price is $281.06. The Boston Beer Company, Inc. has a 12 month low of $222.27 and a 12 month high of $371.65. The firm has a market cap of $2.69 billion, a P/E ratio of 34.42, a P/E/G ratio of 1.23 and a beta of 1.06.

Analyst Ratings Changes

SAM has been the topic of a number of research reports. StockNews.com raised shares of Boston Beer from a “hold” rating to a “buy” rating in a research report on Tuesday. UBS Group cut their price target on shares of Boston Beer from $315.00 to $290.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Needham & Company LLC started coverage on Boston Beer in a report on Friday, December 6th. They issued a “hold” rating for the company. Citigroup dropped their target price on Boston Beer from $335.00 to $290.00 and set a “neutral” rating on the stock in a report on Wednesday, January 15th. Finally, Piper Sandler downgraded Boston Beer from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $370.00 to $275.00 in a research note on Thursday, January 23rd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $302.90.

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.