Berenberg Bank Initiates Coverage on Boston Beer (NYSE:SAM)

Berenberg Bank initiated coverage on shares of Boston Beer (NYSE:SAM - Free Report) in a research note issued to investors on Wednesday morning, MarketBeat reports. The firm issued a hold rating and a $281.10 price target on the stock.

A number of other brokerages have also weighed in on SAM. Piper Sandler cut their price target on shares of Boston Beer from $275.00 to $240.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 26th. Roth Mkm reaffirmed a "buy" rating and issued a $349.00 target price (down from $389.00) on shares of Boston Beer in a research note on Wednesday, February 26th. 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. Morgan Stanley decreased their price objective 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, Citigroup raised Boston Beer from a "neutral" rating to a "buy" rating and upped their price target for the stock from $265.00 to $280.00 in a research report on Thursday, March 20th. 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's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $291.37.

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Boston Beer Stock Up 1.0 %

Shares of SAM traded up $2.41 during trading hours on Wednesday, reaching $245.70. The stock had a trading volume of 405,574 shares, compared to its average volume of 170,344. The company has a market cap of $2.76 billion, a P/E ratio of 36.13, a P/E/G ratio of 1.23 and a beta of 1.26. Boston Beer has a 52 week low of $215.10 and a 52 week high of $339.77. The firm has a 50-day moving average of $237.08 and a 200 day moving average of $273.25.

Institutional Investors Weigh In On Boston Beer

Institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets increased its position in Boston Beer by 104.8% during the third quarter. BNP Paribas Financial Markets now owns 1,440 shares of the company's stock worth $416,000 after acquiring an additional 737 shares during the period. Captrust Financial Advisors increased its holdings in shares of Boston Beer by 258.8% during the third quarter. Captrust Financial Advisors now owns 2,558 shares of the company's stock worth $740,000 after purchasing an additional 1,845 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Boston Beer in the third quarter valued at approximately $49,000. Paloma Partners Management Co acquired a new position in Boston Beer in the 3rd quarter valued at $278,000. Finally, Holocene Advisors LP lifted its position in Boston Beer by 130.9% during the third quarter. Holocene Advisors LP now owns 17,431 shares of the company's stock worth $5,040,000 after purchasing an additional 9,882 shares during the period. Institutional investors 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.