The Boston Beer Company, Inc. (NYSE:SAM) Receives Average Rating of “Hold” from Analysts

Shares of The Boston Beer Company, Inc. (NYSE:SAM) have been assigned an average recommendation of “Hold” from the twelve brokerages that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation and two have issued a buy recommendation on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $314.82.

SAM has been the topic of several recent analyst reports. UBS Group upped their price target on shares of Boston Beer from $300.00 to $309.00 in a report on Thursday, October 24th. Piper Sandler increased their price target 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 for the company in a report on Thursday, October 24th. Jefferies Financial Group downgraded 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, Needham & Company LLC assumed coverage on Boston Beer in a research report on Friday. They set a “hold” rating on the stock.

Institutional Investors Weigh In On Boston Beer

Hedge funds have recently made changes to their positions in the business. First Horizon Advisors Inc. raised its stake in shares of Boston Beer by 105.1% during the third quarter. First Horizon Advisors Inc. now owns 121 shares of the company’s stock valued at $35,000 after purchasing an additional 62 shares in the last quarter. Covestor Ltd increased 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 buying an additional 34 shares during the period. ORG Partners LLC bought a new stake in shares of Boston Beer during the 2nd quarter worth about $48,000. True Wealth Design LLC acquired a new stake in shares of Boston Beer in the 3rd quarter worth approximately $47,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Boston Beer in the third quarter valued at approximately $49,000. Institutional investors own 81.13% of the company’s stock.

Boston Beer Price Performance

Shares of Boston Beer stock opened at $314.81 on Monday. Boston Beer has a 1-year low of $254.40 and a 1-year high of $371.65. The business has a 50-day moving average of $300.11 and a 200-day moving average of $288.15. The company has a market capitalization of $3.61 billion, a PE ratio of 46.30, a P/E/G ratio of 1.21 and a beta of 1.07.

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.