The Boston Beer Company, Inc. (NYSE:SAM - Get Free Report) gapped down before the market opened on Friday . The stock had previously closed at $301.26, but opened at $294.05. Boston Beer shares last traded at $282.56, with a volume of 14,523 shares changing hands.
Analyst Ratings Changes
A number of analysts have commented on the stock. Needham & Company LLC initiated coverage on shares of Boston Beer in a report on Friday, December 6th. They set a "hold" rating for the company. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $318.00 target price on shares of Boston Beer in a report on Friday, October 25th. Jefferies Financial Group lowered Boston Beer from a "buy" rating to a "hold" rating and cut their price target for the company from $355.00 to $325.00 in a report on Friday, October 25th. Roth Mkm reaffirmed a "buy" rating and issued a $389.00 price objective on shares of Boston Beer in a research note on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective 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. One analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $314.82.
Read Our Latest Report on Boston Beer
Boston Beer Stock Performance
The company has a market capitalization of $3.33 billion, a P/E ratio of 42.61, a P/E/G ratio of 1.21 and a beta of 1.07. The business's fifty day simple moving average is $308.00 and its 200-day simple moving average is $291.18.
Institutional Investors Weigh In On Boston Beer
A number of hedge funds have recently made changes to their positions in the company. First Horizon Advisors Inc. increased its stake in Boston Beer by 105.1% in the 3rd quarter. First Horizon Advisors Inc. now owns 121 shares of the company's stock worth $35,000 after acquiring an additional 62 shares during the last quarter. Covestor Ltd grew its holdings in shares of Boston Beer by 36.6% in the third quarter. Covestor Ltd now owns 127 shares of the company's stock valued at $37,000 after purchasing an additional 34 shares in the last quarter. GAMMA Investing LLC increased its position in Boston Beer by 59.3% in the fourth quarter. GAMMA Investing LLC now owns 129 shares of the company's stock worth $39,000 after purchasing an additional 48 shares during the last quarter. True Wealth Design LLC purchased a new stake in Boston Beer during the third quarter valued at $47,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Boston Beer during the third quarter valued at $49,000. 81.13% of the stock is currently owned by hedge funds and other institutional investors.
Boston Beer Company Profile
(
Get Free Report)
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.
Further Reading
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