Boston Beer (NYSE:SAM) Stock Rating Lowered by Piper Sandler

Piper Sandler lowered shares of Boston Beer (NYSE:SAM - Free Report) from an overweight rating to a neutral rating in a research note released on Thursday morning, Marketbeat Ratings reports. They currently have $275.00 target price on the stock, down from their previous target price of $370.00.

Other research analysts have also issued reports about the stock. Jefferies Financial Group lowered shares of Boston Beer from a "buy" rating to a "hold" rating and cut their target price for the stock from $355.00 to $325.00 in a research note on Friday, October 25th. UBS Group reduced their target price on Boston Beer from $315.00 to $290.00 and set a "neutral" rating for the company in a research note on Thursday, January 16th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $318.00 price target on shares of Boston Beer in a report on Friday, October 25th. Deutsche Bank Aktiengesellschaft decreased their price objective on Boston Beer from $281.00 to $277.00 and set a "hold" rating for the company in a report on Thursday, October 24th. Finally, Citigroup cut their target price on Boston Beer from $335.00 to $290.00 and set a "neutral" rating on the stock in a report on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $302.90.

Boston Beer Stock Down 2.5 %

SAM traded down $6.23 during trading on Thursday, reaching $243.96. 178,762 shares of the stock traded hands, compared to its average volume of 194,051. The stock's 50-day moving average is $297.14 and its 200 day moving average is $287.83. Boston Beer has a 12 month low of $243.20 and a 12 month high of $371.65. The stock has a market capitalization of $2.80 billion, a PE ratio of 35.88, a P/E/G ratio of 0.80 and a beta of 1.08.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Blue Trust Inc. increased its stake in Boston Beer by 405.6% in the 4th quarter. Blue Trust Inc. now owns 91 shares of the company's stock valued at $26,000 after buying an additional 73 shares during the last quarter. First Horizon Advisors Inc. grew its holdings in shares of Boston Beer by 105.1% in the third quarter. First Horizon Advisors Inc. now owns 121 shares of the company's stock valued at $35,000 after acquiring an additional 62 shares in the last quarter. Covestor Ltd increased its position in shares of Boston Beer by 36.6% during the third quarter. Covestor Ltd now owns 127 shares of the company's stock valued at $37,000 after acquiring an additional 34 shares during the last quarter. GAMMA Investing LLC lifted its holdings in 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 period. Finally, True Wealth Design LLC purchased a new position in Boston Beer in the third quarter worth $47,000. 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.