Boston Beer (NYSE:SAM) Coverage Initiated at Berenberg Bank

Berenberg Bank began coverage on shares of Boston Beer (NYSE:SAM) in a research report released on Wednesday, MarketBeat reports. The firm issued a hold rating and a $281.10 target price on the stock.

A number of other research firms have also recently commented on SAM. UBS Group decreased their target price on shares of Boston Beer from $315.00 to $290.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. StockNews.com cut Boston Beer from a “buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Citigroup raised Boston Beer from a “neutral” rating to a “buy” rating and upped their target price for the company from $265.00 to $280.00 in a research report on Thursday, March 20th. Morgan Stanley lowered their price target on Boston Beer from $290.00 to $270.00 and set an “equal weight” rating for the company in a report on Wednesday, February 26th. Finally, Roth Mkm restated a “buy” rating and set a $349.00 price target (down previously from $389.00) on shares of Boston Beer in a research note on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $291.37.

Boston Beer Stock Performance

Shares of Boston Beer stock opened at $246.54 on Wednesday. The company has a market capitalization of $2.77 billion, a PE ratio of 36.26, a P/E/G ratio of 1.23 and a beta of 1.14. The company has a 50-day simple moving average of $237.13 and a two-hundred day simple moving average of $273.66. Boston Beer has a one year low of $215.10 and a one year high of $339.77.

Institutional Trading of Boston Beer

Hedge funds and other institutional investors have recently made changes to their positions in the business. T. Rowe Price Investment Management Inc. boosted its holdings in Boston Beer by 4.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 703,480 shares of the company’s stock valued at $211,030,000 after purchasing an additional 29,412 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Boston Beer by 19.8% in the 4th quarter. AQR Capital Management LLC now owns 422,217 shares of the company’s stock valued at $125,821,000 after buying an additional 69,778 shares during the period. State Street Corp boosted 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 worth $84,615,000 after buying an additional 21,276 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Boston Beer by 9.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 225,762 shares of the company’s stock worth $67,723,000 after acquiring an additional 19,063 shares during the period. Finally, Fisher Asset Management LLC raised its position in Boston Beer by 27.1% during the fourth quarter. Fisher Asset Management LLC now owns 160,419 shares of the company’s stock valued at $48,122,000 after acquiring an additional 34,176 shares in the last quarter. Institutional investors and hedge funds own 81.13% of the company’s stock.

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.