Citigroup Lowers Boston Beer (NYSE:SAM) Price Target to $290.00

Boston Beer (NYSE:SAM) had its price target cut by equities research analysts at Citigroup from $335.00 to $290.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Citigroup’s price target suggests a potential upside of 14.74% from the company’s current price.

SAM has been the topic of several other research reports. Needham & Company LLC started coverage on shares of Boston Beer in a report on Friday, December 6th. They issued a “hold” rating on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $318.00 target price on shares of Boston Beer in a research note on Friday, October 25th. UBS Group raised their price target on Boston Beer from $300.00 to $309.00 in a research report on Thursday, October 24th. Jefferies Financial Group downgraded Boston Beer from a “buy” rating to a “hold” rating and reduced their price objective for the company from $355.00 to $325.00 in a research report on Friday, October 25th. Finally, StockNews.com lowered Boston Beer from a “buy” rating to a “hold” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $308.40.

Boston Beer Stock Down 1.5 %

NYSE:SAM opened at $252.74 on Wednesday. The company has a market capitalization of $2.90 billion, a PE ratio of 37.17, a price-to-earnings-growth ratio of 0.81 and a beta of 1.08. Boston Beer has a 52-week low of $252.51 and a 52-week high of $371.65. The stock has a fifty day simple moving average of $303.36 and a 200-day simple moving average of $289.45.

Institutional Trading of Boston Beer

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Aaron Wealth Advisors LLC boosted its position in shares of Boston Beer by 12.0% in the fourth quarter. Aaron Wealth Advisors LLC now owns 1,273 shares of the company’s stock worth $382,000 after acquiring an additional 136 shares during the last quarter. Kera Capital Partners Inc. purchased a new position in Boston Beer during the fourth quarter worth approximately $256,000. Merit Financial Group LLC acquired a new position in shares of Boston Beer in the 4th quarter valued at $434,000. Wealth Enhancement Advisory Services LLC grew its stake in shares of Boston Beer by 1.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 5,788 shares of the company’s stock valued at $1,674,000 after buying an additional 74 shares during the period. Finally, GAMMA Investing LLC increased its holdings in shares of Boston Beer by 59.3% during the 4th quarter. GAMMA Investing LLC now owns 129 shares of the company’s stock worth $39,000 after buying an additional 48 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.