Brokerages Set The Boston Beer Company, Inc. (NYSE:SAM) Price Target at $302.90

The Boston Beer Company, Inc. (NYSE:SAM) has earned an average rating of “Hold” from the eleven research firms that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $302.90.

A number of research analysts recently issued reports on SAM shares. Deutsche Bank Aktiengesellschaft dropped their price target on Boston Beer from $281.00 to $277.00 and set a “hold” rating on the stock in a research note on Thursday, October 24th. Jefferies Financial Group lowered shares of Boston Beer from a “buy” rating to a “hold” rating and lowered their target price for the stock from $355.00 to $325.00 in a research report on Friday, October 25th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $318.00 price target on shares of Boston Beer in a research report on Friday, October 25th. Piper Sandler downgraded shares of Boston Beer from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $370.00 to $275.00 in a research report on Thursday, January 23rd. Finally, Needham & Company LLC assumed coverage on shares of Boston Beer in a research note on Friday, December 6th. They issued a “hold” rating on the stock.

Institutional Investors Weigh In On Boston Beer

A number of hedge funds have recently added to or reduced their stakes in SAM. Point72 Hong Kong Ltd purchased a new position in shares of Boston Beer during the 3rd quarter worth approximately $1,746,000. Merit Financial Group LLC acquired a new position in Boston Beer during the fourth quarter worth $434,000. Barclays PLC raised its position in Boston Beer by 44.2% in the third quarter. Barclays PLC now owns 12,988 shares of the company’s stock worth $3,753,000 after acquiring an additional 3,983 shares in the last quarter. SW Investment Management LLC acquired a new stake in Boston Beer in the second quarter valued at $1,525,000. Finally, Verition Fund Management LLC boosted its position in shares of Boston Beer by 582.6% during the 3rd quarter. Verition Fund Management LLC now owns 19,693 shares of the company’s stock worth $5,694,000 after purchasing an additional 16,808 shares in the last quarter. Institutional investors and hedge funds own 81.13% of the company’s stock.

Boston Beer Price Performance

NYSE SAM opened at $254.38 on Tuesday. The company has a fifty day moving average of $289.65 and a two-hundred day moving average of $286.25. Boston Beer has a 1 year low of $243.20 and a 1 year high of $371.65. The company has a market capitalization of $2.92 billion, a PE ratio of 37.41, a P/E/G ratio of 0.79 and a beta of 1.08.

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.