Boston Beer (NYSE:SAM) Sets New 12-Month Low - Time to Sell?

The Boston Beer Company, Inc. (NYSE:SAM - Get Free Report) shares hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $236.65 and last traded at $236.59, with a volume of 8422 shares traded. The stock had previously closed at $239.35.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SAM. Roth Mkm restated a "buy" rating and set a $389.00 price objective on shares of Boston Beer in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft dropped their target price on Boston Beer from $281.00 to $277.00 and set a "hold" rating on the stock in a research report on Thursday, October 24th. Needham & Company LLC started coverage on Boston Beer in a research report on Friday, December 6th. They issued a "hold" rating on the stock. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $318.00 target price on shares of Boston Beer in a research report on Friday, October 25th. Finally, Piper Sandler lowered Boston Beer from an "overweight" rating to a "neutral" rating and dropped their target price for the stock from $370.00 to $275.00 in a research report on Thursday, January 23rd. 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, the stock currently has a consensus rating of "Hold" and an average price target of $302.90.

Boston Beer Price Performance

The business has a fifty day moving average price of $274.71 and a 200 day moving average price of $283.44. The company has a market capitalization of $2.68 billion, a price-to-earnings ratio of 34.28, a price-to-earnings-growth ratio of 0.78 and a beta of 1.06.

Institutional Investors Weigh In On Boston Beer

Hedge funds and other institutional investors have recently bought and sold shares of the business. Dean Investment Associates LLC purchased a new position in Boston Beer during the 4th quarter valued at about $4,639,000. Savoir Faire Capital Management L.P. acquired a new position in shares of Boston Beer during the fourth quarter worth approximately $4,237,000. Gamco Investors INC. ET AL increased its position in shares of Boston Beer by 27.7% during the fourth quarter. Gamco Investors INC. ET AL now owns 15,670 shares of the company's stock valued at $4,701,000 after purchasing an additional 3,400 shares during the period. XTX Topco Ltd increased its position in shares of Boston Beer by 25.7% during the fourth quarter. XTX Topco Ltd now owns 6,162 shares of the company's stock valued at $1,848,000 after purchasing an additional 1,260 shares during the period. Finally, Barclays PLC increased its position in shares of Boston Beer by 65.0% during the fourth quarter. Barclays PLC now owns 21,428 shares of the company's stock valued at $6,428,000 after purchasing an additional 8,440 shares during the period. 81.13% of the stock is currently 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.