Boston Beer (NYSE:SAM) Downgraded to “Hold” Rating by StockNews.com

Boston Beer (NYSE:SAM) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

Several other brokerages also recently commented on SAM. Jefferies Financial Group downgraded shares of Boston Beer from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $355.00 to $325.00 in a research report on Friday, October 25th. Roth Mkm reiterated a “buy” rating and set a $389.00 price objective on shares of Boston Beer in a report on Wednesday, October 23rd. Piper Sandler boosted their target price on Boston Beer from $325.00 to $330.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Needham & Company LLC initiated coverage on Boston Beer in a research note on Friday, December 6th. They issued a “hold” rating for the company. Finally, Deutsche Bank Aktiengesellschaft cut their target price on Boston Beer from $281.00 to $277.00 and set a “hold” rating on the stock in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $314.82.

Boston Beer Stock Down 1.2 %

SAM stock opened at $258.83 on Wednesday. The company’s fifty day simple moving average is $305.07 and its 200 day simple moving average is $290.00. Boston Beer has a 12-month low of $253.13 and a 12-month high of $371.65. The firm has a market cap of $2.97 billion, a price-to-earnings ratio of 38.06, a PEG ratio of 1.21 and a beta of 1.08.

Hedge Funds Weigh In On Boston Beer

A number of large investors have recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC boosted its stake in Boston Beer by 1.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 5,788 shares of the company’s stock worth $1,674,000 after purchasing an additional 74 shares during the period. GAMMA Investing LLC increased its holdings in 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 acquiring an additional 48 shares during the period. Versant Capital Management Inc lifted its stake in Boston Beer by 37.5% in the 4th quarter. Versant Capital Management Inc now owns 348 shares of the company’s stock worth $104,000 after purchasing an additional 95 shares in the last quarter. Franklin Resources Inc. boosted its holdings in Boston Beer by 10.1% in the 3rd quarter. Franklin Resources Inc. now owns 15,389 shares of the company’s stock valued at $4,239,000 after purchasing an additional 1,406 shares during the period. Finally, Tidal Investments LLC purchased a new position in shares of Boston Beer during the 3rd quarter valued at $299,000. 81.13% of the stock is owned by institutional investors.

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.