Boston Beer (NYSE:SAM) Upgraded at StockNews.com

StockNews.com upgraded shares of Boston Beer (NYSE:SAM) from a hold rating to a buy rating in a research note published on Tuesday morning.

Several other brokerages also recently commented on SAM. Piper Sandler downgraded Boston Beer from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $370.00 to $275.00 in a research note on Thursday, January 23rd. UBS Group decreased their price objective on Boston Beer from $315.00 to $290.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Needham & Company LLC initiated coverage on Boston Beer in a research report on Friday, December 6th. They set a “hold” rating on the stock. Finally, Citigroup reduced their price target 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. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $293.40.

Boston Beer Stock Up 1.0 %

Shares of NYSE SAM opened at $243.67 on Tuesday. The firm has a market cap of $2.80 billion, a PE ratio of 35.83, a P/E/G ratio of 1.23 and a beta of 1.06. The company’s fifty day simple moving average is $258.51 and its 200 day simple moving average is $280.52. Boston Beer has a 12-month low of $222.27 and a 12-month high of $339.77.

Institutional Trading of Boston Beer

Several institutional investors and hedge funds have recently made changes to their positions in the company. Norges Bank bought a new stake in Boston Beer in the 4th quarter worth about $30,741,000. J. Goldman & Co LP boosted its stake in shares of Boston Beer by 251.8% in the 4th quarter. J. Goldman & Co LP now owns 119,687 shares of the company’s stock worth $35,904,000 after buying an additional 85,669 shares during the last quarter. Cooper Creek Partners Management LLC bought a new position in shares of Boston Beer in the fourth quarter valued at approximately $25,054,000. Global Alpha Capital Management Ltd. purchased a new stake in shares of Boston Beer during the fourth quarter valued at approximately $23,349,000. Finally, Freestone Grove Partners LP bought a new stake in Boston Beer during the fourth quarter worth $21,412,000. Hedge funds and other institutional investors own 81.13% of the company’s stock.

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.