Boston Beer (NYSE:SAM) Upgraded at Citigroup

Citigroup upgraded shares of Boston Beer (NYSE:SAM - Free Report) from a neutral rating to a buy rating in a research note released on Thursday morning, Marketbeat.com reports. They currently have $280.00 price objective on the stock, up from their previous price objective of $265.00.

Other analysts have also issued reports about the company. Needham & Company LLC began coverage on Boston Beer in a report on Friday, December 6th. They issued a "hold" rating for the company. StockNews.com downgraded Boston Beer from a "buy" rating to a "hold" rating in a report on Wednesday, March 5th. Morgan Stanley reduced their price objective on Boston Beer from $290.00 to $270.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 26th. Piper Sandler lowered 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 note on Wednesday, February 26th. Finally, Roth Mkm reissued a "buy" rating and set a $349.00 target price (down from $389.00) on shares of Boston Beer in a report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $292.40.

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Boston Beer Trading Up 4.1 %

SAM stock traded up $9.38 during mid-day trading on Thursday, hitting $237.34. 253,588 shares of the company were exchanged, compared to its average volume of 165,915. The firm has a fifty day simple moving average of $239.03 and a 200 day simple moving average of $275.27. The company has a market capitalization of $2.67 billion, a PE ratio of 34.90, a price-to-earnings-growth ratio of 1.23 and a beta of 1.14. Boston Beer has a twelve month low of $215.10 and a twelve month high of $339.77.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Norges Bank bought a new position in Boston Beer in the 4th quarter worth approximately $30,741,000. J. Goldman & Co LP boosted its position in Boston Beer by 251.8% during the 4th quarter. J. Goldman & Co LP now owns 119,687 shares of the company's stock worth $35,904,000 after acquiring an additional 85,669 shares during the period. Cooper Creek Partners Management LLC bought a new position in shares of Boston Beer in the fourth quarter worth $25,054,000. Global Alpha Capital Management Ltd. bought a new position in shares of Boston Beer in the fourth quarter worth $23,349,000. Finally, Freestone Grove Partners LP acquired a new position in shares of Boston Beer during the fourth quarter valued at $21,412,000. 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.