Morgan Stanley Cuts Boston Beer (NYSE:SAM) Price Target to $270.00

Boston Beer (NYSE:SAM) had its target price lowered by Morgan Stanley from $290.00 to $270.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

SAM has been the topic of several other reports. Needham & Company LLC assumed coverage on shares of Boston Beer in a research note on Friday, December 6th. They set a “hold” rating on the stock. Citigroup cut their price objective on Boston Beer from $335.00 to $290.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 15th. StockNews.com upgraded Boston Beer from a “hold” rating to a “buy” rating in a report on Tuesday. UBS Group lowered their target price on Boston Beer from $315.00 to $290.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Finally, Piper Sandler lowered Boston Beer from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $370.00 to $275.00 in a research report on Thursday, January 23rd. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Boston Beer currently has a consensus rating of “Hold” and an average price target of $293.40.

Boston Beer Price Performance

NYSE SAM opened at $243.80 on Wednesday. The company has a market cap of $2.80 billion, a P/E ratio of 35.85, a P/E/G ratio of 1.23 and a beta of 1.06. Boston Beer has a 1-year low of $222.27 and a 1-year high of $339.77. The stock has a 50-day moving average of $257.33 and a two-hundred day moving average of $280.37.

Institutional Investors Weigh In On Boston Beer

Institutional investors have recently added to or reduced their stakes in the business. Blue Trust Inc. increased its stake in Boston Beer by 405.6% in the fourth quarter. Blue Trust Inc. now owns 91 shares of the company’s stock valued at $26,000 after purchasing an additional 73 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Boston Beer by 2,225.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 93 shares of the company’s stock valued at $28,000 after buying an additional 89 shares during the last quarter. First Horizon Advisors Inc. raised its stake in Boston Beer by 105.1% during the 3rd quarter. First Horizon Advisors Inc. now owns 121 shares of the company’s stock worth $35,000 after acquiring an additional 62 shares in the last quarter. GeoWealth Management LLC acquired a new stake in Boston Beer during the 4th quarter worth $35,000. Finally, Covestor Ltd lifted its position in Boston Beer by 36.6% in the third quarter. Covestor Ltd now owns 127 shares of the company’s stock valued at $37,000 after acquiring an additional 34 shares during the last quarter. Hedge funds and other institutional investors own 81.13% of the company’s stock.

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.