Boston Beer (NYSE:SAM) Downgraded by StockNews.com to “Hold”

Boston Beer (NYSE:SAM) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Wednesday.

Several other brokerages also recently commented on SAM. Royal Bank of Canada restated a “sector perform” rating and set a $318.00 target price on shares of Boston Beer in a report on Friday, October 25th. Deutsche Bank Aktiengesellschaft lowered their target price on Boston Beer from $281.00 to $277.00 and set a “hold” rating for the company in a report on Thursday, October 24th. Piper Sandler boosted their price target on Boston Beer from $325.00 to $330.00 and gave the company an “overweight” rating in a report on Friday, October 25th. UBS Group raised their price target on shares of Boston Beer from $300.00 to $309.00 in a research note on Thursday, October 24th. Finally, Jefferies Financial Group downgraded shares of Boston Beer from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $355.00 to $325.00 in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Boston Beer currently has an average rating of “Hold” and a consensus target price of $314.82.

Boston Beer Price Performance

Boston Beer stock opened at $258.83 on Wednesday. Boston Beer has a fifty-two week low of $253.13 and a fifty-two week high of $371.65. The company’s 50 day simple moving average is $305.07 and its 200 day simple moving average is $290.00. The firm has a market capitalization of $2.97 billion, a price-to-earnings ratio of 38.06, a PEG ratio of 1.21 and a beta of 1.08.

Hedge Funds Weigh In On Boston Beer

Hedge funds and other institutional investors have recently made changes to their positions in the company. D. E. Shaw & Co. Inc. boosted its holdings in shares of Boston Beer by 80.0% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 114,736 shares of the company’s stock valued at $35,000,000 after acquiring an additional 51,003 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Boston Beer by 17.0% in the second quarter. Dimensional Fund Advisors LP now owns 182,972 shares of the company’s stock valued at $55,814,000 after buying an additional 26,538 shares during the period. State Street Corp boosted its position in Boston Beer by 7.8% during the 3rd quarter. State Street Corp now owns 292,643 shares of the company’s stock worth $84,615,000 after buying an additional 21,276 shares during the period. Quantinno Capital Management LP grew its holdings in Boston Beer by 647.7% during the 3rd quarter. Quantinno Capital Management LP now owns 21,064 shares of the company’s stock worth $6,090,000 after acquiring an additional 18,247 shares during the last quarter. Finally, Verition Fund Management LLC increased its position 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 during the period. 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.