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

The Boston Beer Company, Inc. (NYSE:SAM) has been given an average rating of “Hold” by the eleven research firms that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $302.90.

Several equities analysts recently commented on the company. Royal Bank of Canada restated a “sector perform” rating and set a $318.00 target price on shares of Boston Beer in a research report on Friday, October 25th. Jefferies Financial Group cut Boston Beer from a “buy” rating to a “hold” rating and cut their price objective for the company from $355.00 to $325.00 in a report on Friday, October 25th. Needham & Company LLC initiated coverage on shares of Boston Beer in a report on Friday, December 6th. They issued a “hold” rating on the stock. Citigroup dropped their target price on shares of Boston Beer from $335.00 to $290.00 and set a “neutral” rating for the company in a research report on Wednesday, January 15th. Finally, Piper Sandler cut shares of Boston Beer from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $370.00 to $275.00 in a research note on Thursday, January 23rd.

Boston Beer Stock Up 2.2 %

Shares of SAM opened at $253.93 on Tuesday. The company has a 50-day moving average price of $293.08 and a two-hundred day moving average price of $286.98. The stock has a market cap of $2.92 billion, a price-to-earnings ratio of 37.34, a P/E/G ratio of 0.79 and a beta of 1.08. Boston Beer has a 12 month low of $243.20 and a 12 month high of $371.65.

Hedge Funds Weigh In On Boston Beer

Several large investors have recently made changes to their positions in the company. Blue Trust Inc. lifted its holdings 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 buying an additional 73 shares during the period. First Horizon Advisors Inc. lifted its stake 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 purchasing an additional 62 shares during the period. Covestor Ltd boosted its position in shares of Boston Beer by 36.6% in the 3rd quarter. Covestor Ltd now owns 127 shares of the company’s stock worth $37,000 after purchasing an additional 34 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Boston Beer by 59.3% in the 4th quarter. GAMMA Investing LLC now owns 129 shares of the company’s stock worth $39,000 after purchasing an additional 48 shares during the last quarter. Finally, True Wealth Design LLC acquired a new stake in shares of Boston Beer during the third quarter worth $47,000. Institutional investors and hedge funds 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.