Analysts Set The Boston Beer Company, Inc. (NYSE:SAM) Price Target at $293.40

The Boston Beer Company, Inc. (NYSE:SAM) has been assigned a consensus rating of “Hold” from the eleven ratings firms that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $292.40.

SAM has been the topic of a number of research reports. Piper Sandler decreased their price target on shares of Boston Beer from $275.00 to $240.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 26th. Morgan Stanley decreased their target price on Boston Beer from $290.00 to $270.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 26th. StockNews.com cut Boston Beer from a “buy” rating to a “hold” rating in a report on Wednesday, March 5th. Needham & Company LLC began coverage on Boston Beer in a report on Friday, December 6th. They issued a “hold” rating on the stock. Finally, UBS Group dropped their target price on Boston Beer from $315.00 to $290.00 and set a “neutral” rating for the company in a report on Thursday, January 16th.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its position in shares of Boston Beer by 59.3% during the 4th quarter. GAMMA Investing LLC now owns 129 shares of the company’s stock worth $39,000 after buying an additional 48 shares during the last quarter. Lazard Asset Management LLC grew its position in shares of Boston Beer by 10.3% in the 4th quarter. Lazard Asset Management LLC now owns 515 shares of the company’s stock valued at $153,000 after buying an additional 48 shares during the last quarter. First Horizon Advisors Inc. boosted its holdings in Boston Beer by 42.1% in the fourth quarter. First Horizon Advisors Inc. now owns 172 shares of the company’s stock valued at $52,000 after acquiring an additional 51 shares during the last quarter. Cetera Investment Advisers increased its position in shares of Boston Beer by 4.6% during the fourth quarter. Cetera Investment Advisers now owns 1,269 shares of the company’s stock worth $381,000 after buying an additional 56 shares during the period. Finally, Exchange Traded Concepts LLC grew its holdings in Boston Beer by 2.5% during the 4th quarter. Exchange Traded Concepts LLC now owns 2,630 shares of the company’s stock worth $789,000 after acquiring an additional 65 shares during the period. 81.13% of the stock is owned by institutional investors.

Boston Beer Price Performance

NYSE:SAM opened at $234.00 on Wednesday. The company has a market cap of $2.63 billion, a P/E ratio of 34.41, a P/E/G ratio of 1.23 and a beta of 1.14. The firm’s fifty day moving average price is $238.54 and its two-hundred day moving average price is $274.91. Boston Beer has a one year low of $215.10 and a one year high of $339.77.

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.