Piper Sandler Downgrades Boston Beer (NYSE:SAM) to Neutral

Boston Beer (NYSE:SAM) was downgraded by equities research analysts at Piper Sandler from an “overweight” rating to a “neutral” rating in a report issued on Thursday, MarketBeat.com reports. They currently have a $275.00 price target on the stock, down from their previous price target of $370.00. Piper Sandler’s price target indicates a potential upside of 10.76% from the company’s current price.

Several other equities research analysts have also recently commented on the stock. Roth Mkm reiterated a “buy” rating and set a $389.00 price target on shares of Boston Beer in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Boston Beer from $281.00 to $277.00 and set a “hold” rating for the company in a research report on Thursday, October 24th. Citigroup lowered 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. Needham & Company LLC started coverage on shares of Boston Beer in a research report on Friday, December 6th. They set a “hold” rating for the company. Finally, Jefferies Financial Group cut shares of Boston Beer from a “buy” rating to a “hold” rating and decreased their price objective for the company from $355.00 to $325.00 in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $302.90.

Boston Beer Trading Up 1.5 %

Shares of NYSE SAM opened at $248.28 on Thursday. Boston Beer has a 1-year low of $243.20 and a 1-year high of $371.65. The company has a market cap of $2.85 billion, a PE ratio of 36.51, a P/E/G ratio of 0.79 and a beta of 1.08. The company has a 50-day moving average of $294.21 and a two-hundred day moving average of $287.22.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. State Street Corp boosted its holdings in shares of Boston Beer by 7.8% in the third quarter. State Street Corp now owns 292,643 shares of the company’s stock valued at $84,615,000 after buying an additional 21,276 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Boston Beer by 17.0% in the second quarter. Dimensional Fund Advisors LP now owns 182,972 shares of the company’s stock valued at $55,814,000 after buying an additional 26,538 shares during the period. D. E. Shaw & Co. Inc. boosted its holdings in shares of Boston Beer by 80.0% in the second quarter. D. E. Shaw & Co. Inc. now owns 114,736 shares of the company’s stock valued at $35,000,000 after buying an additional 51,003 shares during the period. Armistice Capital LLC lifted its position in shares of Boston Beer by 1.1% in the second quarter. Armistice Capital LLC now owns 97,292 shares of the company’s stock worth $29,679,000 after purchasing an additional 1,093 shares in the last quarter. Finally, Quantinno Capital Management LP lifted its position in shares of Boston Beer by 647.7% in the third quarter. Quantinno Capital Management LP now owns 21,064 shares of the company’s stock worth $6,090,000 after purchasing an additional 18,247 shares in the last quarter. Institutional investors and hedge funds 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.