Boston Beer (NYSE:SAM) Given New $270.00 Price Target at Morgan Stanley

Boston Beer (NYSE:SAM) had its target price decreased by Morgan Stanley from $290.00 to $270.00 in a research note issued to investors on Wednesday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Several other equities research analysts have also issued reports on the stock. Citigroup decreased their price target on shares of Boston Beer from $335.00 to $290.00 and set a “neutral” rating on the stock in a report on Wednesday, January 15th. Needham & Company LLC assumed coverage on shares of Boston Beer in a report on Friday, December 6th. They set a “hold” rating on the stock. Piper Sandler lowered shares of Boston Beer from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $370.00 to $275.00 in a report on Thursday, January 23rd. StockNews.com raised shares of Boston Beer from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, UBS Group reduced their target price on shares of Boston Beer from $315.00 to $290.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $293.40.

Boston Beer Stock Up 2.8 %

SAM stock opened at $240.91 on Wednesday. Boston Beer has a 12 month low of $222.27 and a 12 month high of $371.65. The firm has a market cap of $2.77 billion, a P/E ratio of 35.43, a P/E/G ratio of 1.23 and a beta of 1.06. The company’s 50-day moving average price is $259.81 and its two-hundred day moving average price is $280.78.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Covestor Ltd lifted 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 period. GAMMA Investing LLC lifted its position in shares of Boston Beer by 59.3% during the 4th quarter. GAMMA Investing LLC now owns 129 shares of the company’s stock valued at $39,000 after acquiring an additional 48 shares during the period. Lazard Asset Management LLC lifted its position in shares of Boston Beer by 10.3% during the 4th quarter. Lazard Asset Management LLC now owns 515 shares of the company’s stock valued at $153,000 after acquiring an additional 48 shares during the period. First Horizon Advisors Inc. lifted its position in shares of Boston Beer by 42.1% during the 4th quarter. First Horizon Advisors Inc. now owns 172 shares of the company’s stock valued at $52,000 after acquiring an additional 51 shares during the period. Finally, Cetera Investment Advisers lifted its position in shares of Boston Beer by 4.6% during the 4th quarter. Cetera Investment Advisers now owns 1,269 shares of the company’s stock valued at $381,000 after acquiring an additional 56 shares during the period. 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.