Boston Beer (NYSE:SAM) Shares Gap Up - Here's What Happened

The Boston Beer Company, Inc. (NYSE:SAM - Get Free Report) shares gapped up prior to trading on Thursday . The stock had previously closed at $219.16, but opened at $226.74. Boston Beer shares last traded at $228.14, with a volume of 32,491 shares trading hands.

Wall Street Analyst Weigh In

SAM has been the topic of several research reports. Roth Mkm reaffirmed a "buy" rating and set a $349.00 price target (down previously from $389.00) on shares of Boston Beer in a research note on Wednesday, February 26th. UBS Group cut their target price on shares of Boston Beer from $315.00 to $290.00 and set a "neutral" rating on the stock in a research report on Thursday, January 16th. Citigroup upgraded shares of Boston Beer from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $265.00 to $280.00 in a research report on Thursday. Morgan Stanley dropped 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. Finally, Needham & Company LLC started coverage on shares of Boston Beer in a research note on Friday, December 6th. They issued a "hold" rating on the stock. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $292.40.

Boston Beer Price Performance

The company has a market capitalization of $2.63 billion, a P/E ratio of 34.45, a PEG ratio of 1.23 and a beta of 1.14. The business's 50-day moving average price is $239.53 and its two-hundred day moving average price is $275.58.

Remove Ads

Institutional Investors Weigh In On Boston Beer

Several large investors have recently modified their holdings of SAM. Wealth Enhancement Advisory Services LLC grew its position in shares of Boston Beer by 21.5% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,942 shares of the company's stock valued at $2,082,000 after purchasing an additional 1,228 shares during the period. NorthCrest Asset Manangement LLC acquired a new position in shares of Boston Beer in the fourth quarter valued at approximately $220,000. Mackenzie Financial Corp bought a new stake in shares of Boston Beer during the fourth quarter worth $416,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Boston Beer by 24.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 20,835 shares of the company's stock worth $6,250,000 after acquiring an additional 4,082 shares in the last quarter. Finally, Squarepoint Ops LLC raised its holdings in shares of Boston Beer by 9.0% during the fourth quarter. Squarepoint Ops LLC now owns 8,666 shares of the company's stock worth $2,600,000 after acquiring an additional 717 shares during the period. 81.13% of the stock is currently owned by institutional investors.

About Boston Beer

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.