Boston Beer (NYSE:SAM) Coverage Initiated by Analysts at Needham & Company LLC

Research analysts at Needham & Company LLC began coverage on shares of Boston Beer (NYSE:SAM - Get Free Report) in a research report issued on Friday, Marketbeat Ratings reports. The brokerage set a "hold" rating on the stock.

Other analysts have also recently issued research reports about the stock. Piper Sandler upped their price objective on shares of Boston Beer from $325.00 to $330.00 and gave the company an "overweight" rating in a research report on Friday, October 25th. Roth Mkm reissued a "buy" rating and set a $389.00 target price on shares of Boston Beer in a research note on Wednesday, October 23rd. UBS Group lifted their price target on shares of Boston Beer from $300.00 to $309.00 in a research note on Thursday, October 24th. Royal Bank of Canada reissued a "sector perform" rating and set a $318.00 price objective on shares of Boston Beer in a research report on Friday, October 25th. Finally, Deutsche Bank Aktiengesellschaft cut 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. One analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $314.82.

Boston Beer Stock Down 0.4 %

NYSE SAM traded down $1.28 during trading on Friday, reaching $314.81. 71,864 shares of the stock traded hands, compared to its average volume of 104,123. The stock's 50-day moving average price is $300.11 and its 200 day moving average price is $287.89. The firm has a market cap of $3.61 billion, a price-to-earnings ratio of 46.30, a price-to-earnings-growth ratio of 1.21 and a beta of 1.07. Boston Beer has a fifty-two week low of $254.40 and a fifty-two week high of $371.65.

Institutional Trading of Boston Beer

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. First Horizon Advisors Inc. lifted its stake in Boston Beer by 105.1% in the 3rd quarter. First Horizon Advisors Inc. now owns 121 shares of the company's stock valued at $35,000 after purchasing an additional 62 shares during the last quarter. Covestor Ltd lifted its position in shares of Boston Beer by 36.6% in the third quarter. Covestor Ltd now owns 127 shares of the company's stock valued at $37,000 after buying an additional 34 shares during the last quarter. True Wealth Design LLC bought a new position in shares of Boston Beer during the 3rd quarter worth approximately $47,000. ORG Partners LLC bought a new position in shares of Boston Beer during the 2nd quarter worth approximately $48,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Boston Beer during the 3rd quarter worth approximately $49,000. 81.13% of the stock is owned by institutional investors.

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.