Boston Beer (NYSE:SAM) Sets New 1-Year Low - Should You Sell?

The Boston Beer Company, Inc. (NYSE:SAM - Get Free Report)'s share price reached a new 52-week low on Wednesday . The stock traded as low as $221.50 and last traded at $221.64, with a volume of 165728 shares traded. The stock had previously closed at $228.19.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on SAM shares. Roth Mkm reissued a "buy" rating and issued a $349.00 price target (down from $389.00) on shares of Boston Beer in a research note on Wednesday, February 26th. UBS Group lowered their price target on shares of Boston Beer from $315.00 to $290.00 and set a "neutral" rating for the company in a research note on Thursday, January 16th. Morgan Stanley lowered their price target on shares of 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. StockNews.com downgraded shares of Boston Beer from a "buy" rating to a "hold" rating in a research note on Wednesday, March 5th. Finally, Piper Sandler lowered their price target on shares of Boston Beer from $275.00 to $240.00 and set a "neutral" rating for the company in a research note on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $292.40.

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Boston Beer Price Performance

The stock has a market capitalization of $2.56 billion, a P/E ratio of 33.48, a P/E/G ratio of 1.23 and a beta of 1.14. The firm's 50 day moving average price is $239.53 and its 200 day moving average price is $275.64.

Hedge Funds Weigh In On Boston Beer

Institutional investors have recently bought and sold shares of the stock. Entropy Technologies LP bought a new position in Boston Beer in the fourth quarter worth about $368,000. Legato Capital Management LLC bought a new position in Boston Beer in the fourth quarter worth about $1,966,000. Merit Financial Group LLC purchased a new stake in Boston Beer in the fourth quarter worth about $434,000. Point72 Hong Kong Ltd purchased a new stake in Boston Beer in the third quarter worth about $1,746,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in Boston Beer by 5.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 94,356 shares of the company's stock worth $28,305,000 after purchasing an additional 4,675 shares during the period. 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.