Deutsche Bank Aktiengesellschaft Lowers Boston Beer (NYSE:SAM) Price Target to $277.00

Boston Beer (NYSE:SAM) had its price target cut by Deutsche Bank Aktiengesellschaft from $281.00 to $277.00 in a research note published on Thursday. They currently have a hold rating on the stock.

A number of other research firms also recently commented on SAM. Piper Sandler reduced their target price on Boston Beer from $344.00 to $325.00 and set an “overweight” rating on the stock in a research report on Friday, July 26th. Roth Mkm restated a “buy” rating and issued a $389.00 target price on shares of Boston Beer in a research report on Wednesday. Finally, Royal Bank of Canada cut their price objective on Boston Beer from $332.00 to $318.00 and set a “sector perform” rating on the stock in a report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Boston Beer presently has an average rating of “Hold” and an average price target of $319.67.

Boston Beer Trading Down 1.9 %

NYSE SAM traded down $5.68 on Thursday, reaching $296.20. 116,381 shares of the company were exchanged, compared to its average volume of 158,734. The business’s fifty day moving average price is $279.44 and its 200 day moving average price is $282.31. The stock has a market capitalization of $3.47 billion, a P/E ratio of 37.39, a price-to-earnings-growth ratio of 1.23 and a beta of 1.06. Boston Beer has a fifty-two week low of $254.40 and a fifty-two week high of $372.61.

Boston Beer (NYSE:SAM) last posted its earnings results on Thursday, July 25th. The company reported $4.39 EPS for the quarter, missing analysts’ consensus estimates of $4.99 by ($0.60). Boston Beer had a net margin of 4.39% and a return on equity of 9.69%. The business had revenue of $579.10 million during the quarter, compared to analysts’ expectations of $597.33 million. During the same quarter in the prior year, the firm earned $4.72 EPS. Boston Beer’s revenue for the quarter was down 4.0% compared to the same quarter last year. Equities research analysts forecast that Boston Beer will post 9.63 earnings per share for the current year.

Institutional Investors Weigh In On Boston Beer

Several large investors have recently bought and sold shares of SAM. Mesirow Institutional Investment Management Inc. purchased a new stake in Boston Beer during the 2nd quarter worth about $16,014,000. D. E. Shaw & Co. Inc. boosted its position in shares of Boston Beer by 80.0% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 114,736 shares of the company’s stock worth $35,000,000 after acquiring an additional 51,003 shares in the last quarter. Jane Street Group LLC boosted its position in shares of Boston Beer by 171.8% during the 1st quarter. Jane Street Group LLC now owns 15,876 shares of the company’s stock worth $4,833,000 after acquiring an additional 37,985 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Boston Beer by 190.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 46,659 shares of the company’s stock worth $14,233,000 after acquiring an additional 30,601 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Boston Beer by 17.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 182,972 shares of the company’s stock worth $55,814,000 after acquiring an additional 26,538 shares in the last quarter. Hedge funds and other institutional investors 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.