The Boston Beer Company, Inc. (NYSE:SAM) Given Average Rating of “Hold” by Brokerages

The Boston Beer Company, Inc. (NYSE:SAM) has received an average recommendation of “Hold” from the twelve ratings firms that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $314.82.

Several research analysts have commented on SAM shares. Roth Mkm reissued a “buy” rating and issued a $389.00 price objective on shares of Boston Beer in a research report on Wednesday, October 23rd. Piper Sandler boosted their price target on Boston Beer from $325.00 to $330.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Needham & Company LLC began coverage on shares of Boston Beer in a research report on Friday, December 6th. They issued a “hold” rating for the company. Jefferies Financial Group cut shares of Boston Beer from a “buy” rating to a “hold” rating and reduced their target price for the stock from $355.00 to $325.00 in a research report on Friday, October 25th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $318.00 price target on shares of Boston Beer in a report on Friday, October 25th.

Institutional Trading of Boston Beer

Several hedge funds and other institutional investors have recently bought and sold shares of the company. First Horizon Advisors Inc. grew its position in shares of Boston Beer by 105.1% in the 3rd quarter. First Horizon Advisors Inc. now owns 121 shares of the company’s stock worth $35,000 after acquiring an additional 62 shares in the last quarter. Covestor Ltd boosted its holdings in Boston Beer by 36.6% in the third quarter. Covestor Ltd now owns 127 shares of the company’s stock worth $37,000 after purchasing an additional 34 shares during the period. True Wealth Design LLC bought a new stake in Boston Beer during the third quarter valued at $47,000. ORG Partners LLC acquired a new stake in shares of Boston Beer during the second quarter worth $48,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Boston Beer in the 3rd quarter valued at about $49,000. 81.13% of the stock is owned by institutional investors.

Boston Beer Stock Down 1.1 %

Boston Beer stock opened at $315.50 on Monday. The firm has a fifty day moving average of $303.38 and a 200-day moving average of $289.70. Boston Beer has a 52-week low of $254.40 and a 52-week high of $371.65. The firm has a market capitalization of $3.62 billion, a P/E ratio of 46.40, a PEG ratio of 1.21 and a beta of 1.07.

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.