Boston Beer (NYSE:SAM) Sets New 52-Week Low - Here's Why

The Boston Beer Company, Inc. (NYSE:SAM - Get Free Report)'s stock price reached a new 52-week low during trading on Tuesday . The stock traded as low as $243.14 and last traded at $243.64, with a volume of 30201 shares trading hands. The stock had previously closed at $246.63.

Analyst Ratings Changes

Several analysts recently issued reports on the company. UBS Group cut their price target on Boston Beer from $315.00 to $290.00 and set a "neutral" rating on the stock in a report on Thursday, January 16th. Citigroup cut their target price on Boston Beer from $335.00 to $290.00 and set a "neutral" rating on the stock in a research note on Wednesday, January 15th. Piper Sandler lowered shares of Boston Beer from an "overweight" rating to a "neutral" rating and lowered their price target for the stock from $370.00 to $275.00 in a research report on Thursday, January 23rd. Needham & Company LLC started coverage on shares of Boston Beer in a research note on Friday, December 6th. They set a "hold" rating for the company. Finally, Roth Mkm restated a "buy" rating and issued a $389.00 price target on shares of Boston Beer in a research note on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $302.90.

Boston Beer Stock Down 0.9 %

The company has a 50 day moving average of $281.30 and a two-hundred day moving average of $284.75. The firm has a market cap of $2.75 billion, a P/E ratio of 35.24, a PEG ratio of 0.78 and a beta of 1.06.

Institutional Investors Weigh In On Boston Beer

Institutional investors and hedge funds have recently modified their holdings of the stock. Covestor Ltd raised its holdings in Boston Beer by 36.6% during the 3rd quarter. Covestor Ltd now owns 127 shares of the company's stock worth $37,000 after buying an additional 34 shares during the period. GAMMA Investing LLC increased its position in shares of Boston Beer by 59.3% in the fourth quarter. GAMMA Investing LLC now owns 129 shares of the company's stock worth $39,000 after acquiring an additional 48 shares in the last quarter. First Horizon Advisors Inc. raised its holdings in shares of Boston Beer by 42.1% during 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 period. Exchange Traded Concepts LLC lifted its position in shares of Boston Beer by 2.5% in the 4th quarter. Exchange Traded Concepts LLC now owns 2,630 shares of the company's stock valued at $789,000 after acquiring an additional 65 shares in the last quarter. Finally, Great Valley Advisor Group Inc. boosted its stake in Boston Beer by 8.5% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 867 shares of the company's stock worth $251,000 after purchasing an additional 68 shares during the period. 81.13% of the stock is owned by institutional investors and hedge funds.

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.