Brokerages Set The Boston Beer Company, Inc. (NYSE:SAM) PT at $326.92

Shares of The Boston Beer Company, Inc. (NYSE:SAM) have received a consensus recommendation of “Hold” from the twelve brokerages that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation and three have given a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $326.92.

A number of analysts have recently weighed in on the company. Roth Mkm lowered their target price on Boston Beer from $395.00 to $389.00 and set a “buy” rating for the company in a research note on Friday, July 26th. Royal Bank of Canada lowered their price objective on shares of Boston Beer from $332.00 to $318.00 and set a “sector perform” rating for the company in a research report on Friday, July 26th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Boston Beer from $273.00 to $283.00 and gave the stock a “hold” rating in a research report on Wednesday, July 17th. Finally, Piper Sandler decreased their price target on shares of Boston Beer from $344.00 to $325.00 and set an “overweight” rating on the stock in a research note on Friday, July 26th.

Boston Beer Stock Performance

SAM opened at $295.64 on Friday. The firm has a market cap of $3.46 billion, a price-to-earnings ratio of 38.70, a PEG ratio of 1.22 and a beta of 1.06. The firm’s 50-day simple moving average is $278.00 and its 200-day simple moving average is $282.03. Boston Beer has a twelve month low of $254.40 and a twelve month high of $378.08.

Boston Beer (NYSE:SAM) last issued its quarterly earnings data on Thursday, July 25th. The company reported $4.39 earnings per share for the quarter, missing the consensus estimate of $4.99 by ($0.60). Boston Beer had a return on equity of 9.69% and a net margin of 4.39%. The firm had revenue of $579.10 million for the quarter, compared to the consensus estimate of $597.33 million. During the same period in the prior year, the company posted $4.72 earnings per share. Boston Beer’s quarterly revenue was down 4.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Boston Beer will post 9.63 EPS for the current fiscal year.

Institutional Trading of Boston Beer

A number of hedge funds have recently modified their holdings of the company. Mesirow Institutional Investment Management Inc. bought a new position in Boston Beer during the second quarter worth about $16,014,000. D. E. Shaw & Co. Inc. lifted its holdings 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 valued at $35,000,000 after purchasing an additional 51,003 shares in the last quarter. Jane Street Group LLC grew its position in shares of Boston Beer by 171.8% in the 1st quarter. Jane Street Group LLC now owns 15,876 shares of the company’s stock valued at $4,833,000 after purchasing an additional 37,985 shares during the period. Assenagon Asset Management S.A. lifted its stake in Boston Beer by 190.6% in the second quarter. Assenagon Asset Management S.A. now owns 46,659 shares of the company’s stock valued at $14,233,000 after buying an additional 30,601 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Boston Beer by 17.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 182,972 shares of the company’s stock valued at $55,814,000 after acquiring an additional 26,538 shares in the last quarter. 81.13% of the stock is currently owned by institutional investors and hedge funds.

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.