Boston Beer (NYSE:SAM) Stock Breaks Below 200-Day Moving Average – Here’s Why

Shares of The Boston Beer Company, Inc. (NYSE:SAM) passed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $199.10 and traded as low as $194.68. Boston Beer shares last traded at $197.55, with a volume of 194,137 shares traded.

Analyst Ratings Changes

Several analysts have recently weighed in on SAM shares. Jefferies Financial Group reissued a “hold” rating and issued a $200.00 price target on shares of Boston Beer in a research note on Friday, October 23rd. Morgan Stanley restated an “equal weight” rating on shares of Boston Beer in a report on Tuesday. Zacks Research raised shares of Boston Beer from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 22nd. Wall Street Zen upgraded Boston Beer from a “sell” rating to a “hold” rating in a report on Saturday, July 25th. Finally, Sanford C. Bernstein reiterated a “market perform” rating and issued a $195.00 price objective on shares of Boston Beer in a research report on Monday, July 27th. One research analyst has rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $208.82.

Boston Beer Stock Up 1.1%

The company has a market cap of $2.04 billion, a price-to-earnings ratio of -29.37 and a beta of 0.82. The stock’s 50-day simple moving average is $177.02 and its 200 day simple moving average is $199.02.

Boston Beer (NYSE:SAM) last announced its quarterly earnings results on Thursday, October 22nd. The company reported $4.37 earnings per share for the quarter, beating analysts’ consensus estimates of $4.21 by $0.16. Boston Beer had a negative net margin of 3.59% and a positive return on equity of 10.40%. The business had revenue of $520.10 million during the quarter, compared to analysts’ expectations of $522.95 million. During the same period last year, the business earned $4.25 earnings per share. The business’s revenue for the quarter was down 3.2% on a year-over-year basis. On average, sell-side analysts expect that The Boston Beer Company, Inc. will post 9.28 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SAM. Odyssean LLC grew its position in Boston Beer by 152.3% during the 2nd quarter. Odyssean LLC now owns 16,344 shares of the company’s stock worth $2,893,000 after purchasing an additional 9,867 shares during the last quarter. Quantedge Capital Pte Ltd purchased a new position in Boston Beer during the 1st quarter valued at about $2,396,000. Engineers Gate Manager LP increased its position in Boston Beer by 367.2% during the 2nd quarter. Engineers Gate Manager LP now owns 9,610 shares of the company’s stock worth $1,701,000 after purchasing an additional 7,553 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Boston Beer by 6.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 273,612 shares of the company’s stock worth $63,040,000 after purchasing an additional 15,611 shares during the period. Finally, Royal Bank of Canada raised its stake in Boston Beer by 136.5% during the first quarter. Royal Bank of Canada now owns 19,081 shares of the company’s stock worth $4,395,000 after purchasing an additional 11,012 shares during the period. 81.13% of the stock is currently owned by hedge funds and other institutional investors.

Boston Beer Company Profile

Boston Beer Company, Inc is an American beverage company that develops, produces, and sells alcoholic beverages. The company is best known for its Samuel Adams craft beer brand, which includes Boston Lager and a range of seasonal, specialty, and limited-release beers.

Its portfolio also includes Twisted Tea hard iced tea, Truly Hard Seltzer, Angry Orchard hard cider, and beverages associated with Dogfish Head, which Boston Beer acquired in 2019. The company offers products across several categories, including beer, flavored malt beverages, hard seltzer, and hard cider, with offerings distributed primarily through wholesalers, retailers, restaurants, and other on-premise establishments.

Founded in 1984 by Jim Koch, Boston Beer helped expand the U.S.