Boston Beer (NYSE:SAM) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Boston Beer (NYSE:SAM) from a hold rating to a buy rating in a research note published on Tuesday morning.

SAM has been the topic of several other reports. Jefferies Financial Group cut shares of Boston Beer from a “buy” rating to a “hold” rating and decreased their price target for the stock from $355.00 to $325.00 in a research note on Friday, October 25th. Piper Sandler lifted their target price on shares of Boston Beer from $325.00 to $330.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Needham & Company LLC assumed coverage on Boston Beer in a research note on Friday, December 6th. They set a “hold” rating on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $318.00 price objective on shares of Boston Beer in a research report on Friday, October 25th. Finally, Roth Mkm reissued a “buy” rating and issued a $389.00 price target on shares of Boston Beer in a research note on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $314.82.

Boston Beer Stock Performance

Shares of NYSE:SAM opened at $280.06 on Tuesday. Boston Beer has a one year low of $254.40 and a one year high of $371.65. The stock has a market cap of $3.22 billion, a PE ratio of 41.19, a price-to-earnings-growth ratio of 1.21 and a beta of 1.08. The business’s fifty day moving average price is $307.31 and its two-hundred day moving average price is $290.95.

Institutional Trading of Boston Beer

Several large investors have recently added to or reduced their stakes in the stock. State Street Corp grew its stake 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 in the last quarter. Dimensional Fund Advisors LP grew its position in 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 acquiring an additional 26,538 shares in the last quarter. D. E. Shaw & Co. Inc. lifted its position in shares of Boston Beer by 80.0% during the second quarter. D. E. Shaw & Co. Inc. now owns 114,736 shares of the company’s stock worth $35,000,000 after purchasing an additional 51,003 shares in the last quarter. Armistice Capital LLC boosted its stake 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 valued at $29,679,000 after purchasing an additional 1,093 shares during the period. Finally, TD Asset Management Inc grew its holdings in Boston Beer by 6.6% during the 2nd quarter. TD Asset Management Inc now owns 49,132 shares of the company’s stock valued at $14,988,000 after purchasing an additional 3,032 shares in the last quarter. 81.13% of the stock is currently owned by institutional investors and hedge funds.

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.