Citigroup Has Lowered Expectations for Boston Beer (NYSE:SAM) Stock Price

Boston Beer (NYSE:SAM - Free Report) had its target price trimmed by Citigroup from $335.00 to $290.00 in a report released on Wednesday morning,Benzinga reports. They currently have a neutral rating on the stock.

SAM has been the topic of a number of other reports. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $318.00 price target on shares of Boston Beer in a research report on Friday, October 25th. Piper Sandler raised their target price on shares of Boston Beer from $325.00 to $330.00 and gave the stock an "overweight" rating in a report on Friday, October 25th. Needham & Company LLC initiated coverage on Boston Beer in a research note on Friday, December 6th. They issued a "hold" rating for the company. StockNews.com cut Boston Beer from a "buy" rating to a "hold" rating in a report on Wednesday. Finally, UBS Group boosted their price target on Boston Beer from $300.00 to $309.00 in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $312.55.

Boston Beer Price Performance

Boston Beer stock traded down $2.65 during trading hours on Wednesday, hitting $256.26. The company had a trading volume of 191,025 shares, compared to its average volume of 197,669. Boston Beer has a one year low of $253.13 and a one year high of $371.65. The firm has a market cap of $2.94 billion, a PE ratio of 37.69, a PEG ratio of 1.21 and a beta of 1.08. The firm has a 50-day moving average of $304.24 and a 200 day moving average of $289.68.

Institutional Investors Weigh In On Boston Beer

Hedge funds and other institutional investors have recently bought and sold shares of the company. Covestor Ltd increased its position in Boston Beer by 36.6% in the 3rd quarter. Covestor Ltd now owns 127 shares of the company's stock valued at $37,000 after acquiring an additional 34 shares during the period. GAMMA Investing LLC raised its position in shares of Boston Beer by 59.3% during the fourth quarter. GAMMA Investing LLC now owns 129 shares of the company's stock worth $39,000 after acquiring an additional 48 shares during the last quarter. First Horizon Advisors Inc. raised its holdings in Boston Beer by 105.1% during the 3rd quarter. First Horizon Advisors Inc. now owns 121 shares of the company's stock worth $35,000 after purchasing an additional 62 shares during the last quarter. Great Valley Advisor Group Inc. lifted its position in shares of 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. Finally, National Bank of Canada FI increased its position in shares of Boston Beer by 10.0% during the third quarter. National Bank of Canada FI now owns 793 shares of the company's stock worth $229,000 after buying an additional 72 shares during the period. Institutional investors own 81.13% of the company's stock.

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.