Citigroup Boosts Boston Beer (NYSE:SAM) Price Target to $285.00

Boston Beer (NYSE:SAM - Free Report) had its price objective boosted by Citigroup from $280.00 to $285.00 in a research note issued to investors on Monday, MarketBeat reports. Citigroup currently has a buy rating on the stock.

Other equities research analysts also recently issued research reports about the company. Berenberg Bank began coverage on Boston Beer in a report on Wednesday, April 2nd. They issued a "hold" rating and a $281.10 price objective for the company. StockNews.com cut shares of Boston Beer from a "buy" rating to a "hold" rating in a report on Wednesday, March 5th. Roth Mkm reissued a "buy" rating and set a $349.00 price target (down previously from $389.00) on shares of Boston Beer in a research report on Wednesday, February 26th. Morgan Stanley reduced their target price on Boston Beer from $290.00 to $270.00 and set an "equal weight" rating for the company in a research note on Wednesday, February 26th. Finally, Piper Sandler reduced their price objective on shares of Boston Beer from $275.00 to $240.00 and set a "neutral" rating for the company in a research report on Wednesday, February 26th. Ten analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $293.91.

Boston Beer Trading Up 0.2 %

Shares of NYSE SAM traded up $0.56 during mid-day trading on Monday, hitting $238.98. The company had a trading volume of 147,457 shares, compared to its average volume of 171,903. Boston Beer has a one year low of $215.10 and a one year high of $339.77. The company has a market capitalization of $2.69 billion, a PE ratio of 35.14, a price-to-earnings-growth ratio of 1.23 and a beta of 1.26. The firm has a 50-day simple moving average of $235.44 and a two-hundred day simple moving average of $269.96.

Hedge Funds Weigh In On Boston Beer

Several hedge funds have recently bought and sold shares of SAM. T. Rowe Price Investment Management Inc. raised its position in Boston Beer by 4.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 703,480 shares of the company's stock valued at $211,030,000 after purchasing an additional 29,412 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Boston Beer by 19.8% during the 4th quarter. AQR Capital Management LLC now owns 422,217 shares of the company's stock worth $125,821,000 after buying an additional 69,778 shares during the last quarter. State Street Corp boosted its stake in Boston Beer by 7.8% in the third quarter. State Street Corp now owns 292,643 shares of the company's stock valued at $84,615,000 after buying an additional 21,276 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Boston Beer by 9.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 225,762 shares of the company's stock valued at $67,723,000 after acquiring an additional 19,063 shares during the last quarter. Finally, Fisher Asset Management LLC raised its stake in Boston Beer by 27.1% during the fourth quarter. Fisher Asset Management LLC now owns 160,419 shares of the company's stock worth $48,122,000 after acquiring an additional 34,176 shares in the last quarter. 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.