StockNews.com downgraded shares of Boston Beer (NYSE:SAM - Free Report) from a buy rating to a hold rating in a research report sent to investors on Wednesday.
SAM has been the subject of a number of other research reports. Citigroup cut their price objective on shares of Boston Beer from $335.00 to $290.00 and set a "neutral" rating for the company in a report on Wednesday, January 15th. Roth Mkm reaffirmed a "buy" rating and issued a $349.00 price objective (down previously from $389.00) on shares of Boston Beer in a report on Wednesday, February 26th. Needham & Company LLC started coverage on shares of Boston Beer in a report on Friday, December 6th. They issued a "hold" rating for the company. UBS Group cut their price objective on shares of Boston Beer from $315.00 to $290.00 and set a "neutral" rating for the company in a report on Thursday, January 16th. Finally, Morgan Stanley dropped their target price on shares of Boston Beer from $290.00 to $270.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $293.40.
Read Our Latest Stock Analysis on Boston Beer
Boston Beer Trading Up 2.7 %
SAM traded up $6.27 on Wednesday, reaching $239.48. The stock had a trading volume of 231,459 shares, compared to its average volume of 220,601. Boston Beer has a 12-month low of $222.27 and a 12-month high of $339.77. The business's 50-day moving average price is $252.52 and its two-hundred day moving average price is $279.31. The company has a market cap of $2.75 billion, a P/E ratio of 35.22, a price-to-earnings-growth ratio of 1.23 and a beta of 1.14.
Institutional Investors Weigh In On Boston Beer
A number of large investors have recently made changes to their positions in the stock. Entropy Technologies LP acquired a new position in Boston Beer during the fourth quarter worth $368,000. Legato Capital Management LLC purchased a new position in shares of Boston Beer during the 4th quarter worth $1,966,000. Merit Financial Group LLC acquired a new position in shares of Boston Beer during the 4th quarter valued at about $434,000. Point72 Hong Kong Ltd purchased a new stake in shares of Boston Beer in the third quarter valued at about $1,746,000. Finally, Barclays PLC increased its position in Boston Beer by 44.2% during the third quarter. Barclays PLC now owns 12,988 shares of the company's stock worth $3,753,000 after purchasing an additional 3,983 shares during the last quarter. 81.13% of the stock is currently owned by hedge funds and other institutional investors.
About Boston Beer
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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.
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