Needham & Company LLC Initiates Coverage on Boston Beer (NYSE:SAM)

Equities researchers at Needham & Company LLC assumed coverage on shares of Boston Beer (NYSE:SAM) in a report released on Friday, MarketBeat reports. The brokerage set a “hold” rating on the stock.

A number of other analysts also recently commented on SAM. Roth Mkm restated a “buy” rating and set a $389.00 price target on shares of Boston Beer in a research report on Wednesday, October 23rd. Piper Sandler boosted their target price on Boston Beer from $325.00 to $330.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Jefferies Financial Group lowered Boston Beer from a “buy” rating to a “hold” rating and decreased their price target for the company from $355.00 to $325.00 in a research note on Friday, October 25th. Deutsche Bank Aktiengesellschaft cut their price objective on Boston Beer from $281.00 to $277.00 and set a “hold” rating for the company in a report on Thursday, October 24th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $318.00 target price on shares of Boston Beer in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $314.82.

Boston Beer Price Performance

Shares of Boston Beer stock opened at $314.81 on Friday. Boston Beer has a 1-year low of $254.40 and a 1-year high of $371.65. The business’s fifty day moving average price is $300.11 and its two-hundred day moving average price is $288.00. The company has a market capitalization of $3.61 billion, a P/E ratio of 46.30, a PEG ratio of 1.21 and a beta of 1.07.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. First Horizon Advisors Inc. lifted its position in shares of Boston Beer by 105.1% in the 3rd quarter. First Horizon Advisors Inc. now owns 121 shares of the company’s stock valued at $35,000 after acquiring an additional 62 shares in the last quarter. Covestor Ltd raised its stake in Boston Beer by 36.6% during the 3rd quarter. Covestor Ltd now owns 127 shares of the company’s stock valued at $37,000 after purchasing an additional 34 shares during the period. True Wealth Design LLC purchased a new stake in shares of Boston Beer in the third quarter valued at $47,000. ORG Partners LLC purchased a new position in shares of Boston Beer during the second quarter valued at $48,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Boston Beer during the third quarter valued at $49,000. 81.13% of the stock is currently owned by institutional investors and hedge funds.

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.