Boston Beer (NYSE:SAM) Price Target Cut to $270.00 by Analysts at Morgan Stanley

Boston Beer (NYSE:SAM - Get Free Report) had its target price decreased by research analysts at Morgan Stanley from $290.00 to $270.00 in a report released on Wednesday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Morgan Stanley's target price indicates a potential upside of 10.75% from the stock's previous close.

A number of other research analysts have also weighed in on the company. StockNews.com raised Boston Beer from a "hold" rating to a "buy" rating in a report on Tuesday. Needham & Company LLC started coverage on Boston Beer in a report on Friday, December 6th. They set a "hold" rating for the company. Piper Sandler lowered Boston Beer from an "overweight" rating to a "neutral" rating and cut their price objective for the stock from $370.00 to $275.00 in a report on Thursday, January 23rd. UBS Group cut their price objective on Boston Beer from $315.00 to $290.00 and set a "neutral" rating for the company in a report on Thursday, January 16th. Finally, Citigroup cut their price objective on Boston Beer from $335.00 to $290.00 and set a "neutral" rating for the company in a report on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $293.40.

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Boston Beer Price Performance

SAM stock traded down $0.24 during mid-day trading on Wednesday, reaching $243.80. 412,325 shares of the company traded hands, compared to its average volume of 213,562. The company has a market capitalization of $2.80 billion, a P/E ratio of 35.85, a P/E/G ratio of 1.23 and a beta of 1.06. Boston Beer has a 52-week low of $222.27 and a 52-week high of $339.77. The company has a fifty day moving average price of $257.33 and a 200-day moving average price of $280.42.

Institutional Trading of Boston Beer

A number of hedge funds have recently bought and sold shares of SAM. Creative Planning raised its holdings in shares of Boston Beer by 6.5% during the third quarter. Creative Planning now owns 2,540 shares of the company's stock valued at $734,000 after acquiring an additional 155 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Boston Beer by 389.2% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 5,714 shares of the company's stock valued at $1,652,000 after acquiring an additional 4,546 shares in the last quarter. Pallas Capital Advisors LLC raised its holdings in shares of Boston Beer by 323.5% during the third quarter. Pallas Capital Advisors LLC now owns 3,261 shares of the company's stock valued at $984,000 after acquiring an additional 2,491 shares in the last quarter. Kornitzer Capital Management Inc. KS raised its holdings in shares of Boston Beer by 3.4% during the third quarter. Kornitzer Capital Management Inc. KS now owns 3,968 shares of the company's stock valued at $1,147,000 after acquiring an additional 129 shares in the last quarter. Finally, Capital Performance Advisors LLP bought a new position in shares of Boston Beer during the third quarter valued at approximately $138,000. Institutional investors own 81.13% of the company's stock.

Boston Beer Company Profile

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.