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Boston Beer (NYSE:SAM) Cut to "Hold" at StockNews.com

Boston Beer logo with Consumer Staples background

StockNews.com lowered shares of Boston Beer (NYSE:SAM - Free Report) from a buy rating to a hold rating in a research report report published on Wednesday.

Several other research analysts have also recently issued reports on SAM. Royal Bank of Canada restated a "sector perform" rating and issued a $318.00 target price on shares of Boston Beer in a report on Friday, October 25th. Jefferies Financial Group cut Boston Beer from a "buy" rating to a "hold" rating and dropped their price target for the company from $355.00 to $325.00 in a research report on Friday, October 25th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Boston Beer from $281.00 to $277.00 and set a "hold" rating on the stock in a research report on Thursday, October 24th. Needham & Company LLC began coverage on shares of Boston Beer in a report on Friday, December 6th. They set a "hold" rating for the company. Finally, Roth Mkm reaffirmed a "buy" rating and issued a $389.00 price target on shares of Boston Beer in a report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $312.55.

Get Our Latest Stock Analysis on Boston Beer

Boston Beer Trading Down 1.0 %

NYSE:SAM traded down $2.65 during mid-day trading on Wednesday, hitting $256.26. The stock had a trading volume of 191,025 shares, compared to its average volume of 197,669. Boston Beer has a twelve month low of $253.13 and a twelve month high of $371.65. The stock has a 50-day simple moving average of $304.24 and a two-hundred day simple moving average of $289.68. The company has a market capitalization of $2.94 billion, a PE ratio of 37.69, a PEG ratio of 1.21 and a beta of 1.08.

Institutional Investors Weigh In On Boston Beer

Large investors have recently made changes to their positions in the business. Point72 Hong Kong Ltd acquired a new stake in Boston Beer in the third quarter valued at approximately $1,746,000. Barclays PLC increased its holdings in Boston Beer by 44.2% during the 3rd quarter. Barclays PLC now owns 12,988 shares of the company's stock worth $3,753,000 after purchasing an additional 3,983 shares during the last quarter. SW Investment Management LLC acquired a new position in shares of Boston Beer in the 2nd quarter valued at approximately $1,525,000. Verition Fund Management LLC raised its position in shares of Boston Beer by 582.6% in the 3rd quarter. Verition Fund Management LLC now owns 19,693 shares of the company's stock valued at $5,694,000 after purchasing an additional 16,808 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its stake in shares of Boston Beer by 18.7% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 4,933 shares of the company's stock valued at $1,505,000 after buying an additional 778 shares during the last quarter. Institutional investors and hedge funds own 81.13% of the company's stock.

Boston Beer Company Profile

(Get Free Report)

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.

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