Boston Beer (NYSE:SAM) Stock Price Up 3% - Should You Buy?

The Boston Beer Company, Inc. (NYSE:SAM - Get Free Report)'s stock price rose 3% during trading on Friday . The company traded as high as $249.59 and last traded at $250.69. Approximately 84,030 shares changed hands during trading, a decline of 60% from the average daily volume of 212,626 shares. The stock had previously closed at $243.29.

Wall Street Analyst Weigh In

SAM has been the subject of a number of analyst reports. Roth Mkm restated 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. StockNews.com lowered Boston Beer from a "buy" rating to a "hold" rating in a research note on Wednesday, March 5th. Citigroup upgraded Boston Beer from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $265.00 to $280.00 in a research note on Thursday, March 20th. Berenberg Bank initiated coverage on shares of Boston Beer in a research note on Wednesday, April 2nd. They issued a "hold" rating and a $281.10 target price on the stock. Finally, Piper Sandler dropped their target price on shares of Boston Beer from $275.00 to $240.00 and set a "neutral" rating for the company in a research report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $291.37.

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Boston Beer Stock Performance

The business's 50-day simple moving average is $235.29 and its 200-day simple moving average is $271.90. The company has a market capitalization of $2.70 billion, a price-to-earnings ratio of 35.30, a P/E/G ratio of 1.23 and a beta of 1.26.

Institutional Trading of Boston Beer

Several institutional investors and hedge funds have recently made changes to their positions in SAM. NBC Securities Inc. lifted its stake in Boston Beer by 189,500.0% in the first quarter. NBC Securities Inc. now owns 1,896 shares of the company's stock valued at $452,000 after buying an additional 1,895 shares during the period. Investors Research Corp boosted its stake in Boston Beer by 12.8% during the 1st quarter. Investors Research Corp now owns 1,325 shares of the company's stock worth $316,000 after acquiring an additional 150 shares during the last quarter. Parallel Advisors LLC grew its holdings in Boston Beer by 74.9% during the first quarter. Parallel Advisors LLC now owns 502 shares of the company's stock valued at $120,000 after purchasing an additional 215 shares during the period. GAMMA Investing LLC increased its stake in Boston Beer by 7,861.2% in the first quarter. GAMMA Investing LLC now owns 10,270 shares of the company's stock valued at $2,453,000 after purchasing an additional 10,141 shares in the last quarter. Finally, RK Asset Management LLC acquired a new stake in Boston Beer in the first quarter worth $4,466,000. Institutional investors own 81.13% of the company's stock.

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.