Boston Beer (NYSE:SAM) Hits New 1-Year Low - Here's What Happened

The Boston Beer Company, Inc. (NYSE:SAM - Get Free Report)'s stock price reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $253.13 and last traded at $256.52, with a volume of 6533 shares trading hands. The stock had previously closed at $256.05.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft decreased their price target on Boston Beer from $281.00 to $277.00 and set a "hold" rating for the company in a research note on Thursday, October 24th. StockNews.com raised Boston Beer from a "hold" rating to a "buy" rating in a research note on Tuesday, January 7th. Jefferies Financial Group lowered Boston Beer from a "buy" rating to a "hold" rating and decreased their price target for the stock from $355.00 to $325.00 in a research note on Friday, October 25th. Piper Sandler lifted 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. Finally, Needham & Company LLC began coverage on Boston Beer in a research report on Friday, December 6th. They set a "hold" rating for the company. One analyst has rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Boston Beer presently has an average rating of "Hold" and an average target price of $314.82.

Boston Beer Price Performance

The stock has a market cap of $3.01 billion, a price-to-earnings ratio of 38.54, a PEG ratio of 1.21 and a beta of 1.08. The firm has a fifty day moving average of $305.76 and a 200 day moving average of $290.29.

Institutional Investors Weigh In On Boston Beer

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SAM. Texas Permanent School Fund Corp increased its stake in Boston Beer by 18.7% during the second quarter. Texas Permanent School Fund Corp now owns 9,776 shares of the company's stock worth $2,982,000 after acquiring an additional 1,539 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its position in shares of Boston Beer by 61.3% during the second quarter. DekaBank Deutsche Girozentrale now owns 250 shares of the company's stock worth $75,000 after buying an additional 95 shares during the period. Thoroughbred Financial Services LLC purchased a new position in shares of Boston Beer during the second quarter worth $228,000. Oppenheimer Asset Management Inc. boosted its position in shares of Boston Beer by 18.7% during the second quarter. Oppenheimer Asset Management Inc. now owns 4,933 shares of the company's stock worth $1,505,000 after buying an additional 778 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Boston Beer by 17.0% during the second quarter. Dimensional Fund Advisors LP now owns 182,972 shares of the company's stock worth $55,814,000 after buying an additional 26,538 shares during the period. 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.