The Boston Beer Company, Inc. (NYSE:SAM) Receives $302.90 Average Target Price from Brokerages

Shares of The Boston Beer Company, Inc. (NYSE:SAM) have been given an average recommendation of “Hold” by the eleven research firms that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, nine have given a hold recommendation and one has given a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $302.90.

SAM has been the topic of several recent analyst reports. Royal Bank of Canada restated a “sector perform” rating and set a $318.00 price objective on shares of Boston Beer in a research note on Friday, October 25th. Roth Mkm restated a “buy” rating and set a $389.00 price objective on shares of Boston Beer in a research note on Wednesday, October 23rd. Needham & Company LLC initiated coverage on Boston Beer in a research note on Friday, December 6th. They set a “hold” rating on the stock. Jefferies Financial Group cut Boston Beer from a “buy” rating to a “hold” rating and dropped their price objective for the company from $355.00 to $325.00 in a research note on Friday, October 25th. Finally, Piper Sandler cut Boston Beer from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $370.00 to $275.00 in a research note on Thursday, January 23rd.

Institutional Trading of Boston Beer

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Covestor Ltd increased its holdings in shares of Boston Beer by 36.6% during the third quarter. Covestor Ltd now owns 127 shares of the company’s stock valued at $37,000 after acquiring an additional 34 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Boston Beer by 59.3% during the fourth quarter. GAMMA Investing LLC now owns 129 shares of the company’s stock valued at $39,000 after buying an additional 48 shares during the last quarter. First Horizon Advisors Inc. boosted its position in shares of Boston Beer by 42.1% during the fourth quarter. First Horizon Advisors Inc. now owns 172 shares of the company’s stock valued at $52,000 after buying an additional 51 shares during the last quarter. Exchange Traded Concepts LLC boosted its position in shares of Boston Beer by 2.5% during the fourth quarter. Exchange Traded Concepts LLC now owns 2,630 shares of the company’s stock valued at $789,000 after buying an additional 65 shares during the last quarter. Finally, Great Valley Advisor Group Inc. boosted its position in shares of Boston Beer by 8.5% during the third quarter. Great Valley Advisor Group Inc. now owns 867 shares of the company’s stock valued at $251,000 after buying an additional 68 shares during the last quarter. Hedge funds and other institutional investors own 81.13% of the company’s stock.

Boston Beer Stock Down 1.6 %

Shares of SAM opened at $246.64 on Tuesday. Boston Beer has a 12-month low of $243.20 and a 12-month high of $371.65. The business’s fifty day moving average is $287.03 and its 200 day moving average is $285.76. The stock has a market cap of $2.83 billion, a P/E ratio of 36.27, a P/E/G ratio of 0.80 and a beta of 1.06.

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.