Boston Beer (NYSE:SAM) PT Raised to $309.00

Boston Beer (NYSE:SAM - Free Report) had its target price hoisted by UBS Group from $300.00 to $309.00 in a research report report published on Thursday.

Several other analysts have also recently issued reports on SAM. Deutsche Bank Aktiengesellschaft reduced their price objective on Boston Beer from $281.00 to $277.00 and set a "hold" rating on the stock in a research note on Thursday. Roth Mkm restated a "buy" rating and issued a $389.00 price objective on shares of Boston Beer in a report on Wednesday. Royal Bank of Canada lowered their target price on shares of Boston Beer from $332.00 to $318.00 and set a "sector perform" rating for the company in a research note on Friday, July 26th. Finally, Piper Sandler dropped their price target on shares of Boston Beer from $344.00 to $325.00 and set an "overweight" rating on the stock in a research note on Friday, July 26th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Boston Beer presently has a consensus rating of "Hold" and a consensus target price of $322.58.

Boston Beer Price Performance

Shares of SAM stock traded up $0.24 on Thursday, hitting $301.75. The stock had a trading volume of 160,652 shares, compared to its average volume of 158,976. The company's 50 day moving average price is $279.01 and its 200-day moving average price is $282.17. Boston Beer has a 1 year low of $254.40 and a 1 year high of $378.08. The firm has a market capitalization of $3.54 billion, a P/E ratio of 39.50, a P/E/G ratio of 1.23 and a beta of 1.06.

Boston Beer (NYSE:SAM - Get Free Report) last issued its quarterly earnings results on Thursday, July 25th. The company reported $4.39 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.99 by ($0.60). Boston Beer had a return on equity of 9.69% and a net margin of 4.39%. The business had revenue of $579.10 million for the quarter, compared to analysts' expectations of $597.33 million. During the same quarter last year, the company earned $4.72 earnings per share. The firm's revenue for the quarter was down 4.0% on a year-over-year basis. On average, equities analysts forecast that Boston Beer will post 9.63 EPS for the current year.

Hedge Funds Weigh In On Boston Beer

Several hedge funds have recently bought and sold shares of SAM. Mesirow Institutional Investment Management Inc. acquired a new stake in shares of Boston Beer during the second quarter valued at $16,014,000. D. E. Shaw & Co. Inc. grew its holdings in shares of Boston Beer by 80.0% during the second quarter. D. E. Shaw & Co. Inc. now owns 114,736 shares of the company's stock worth $35,000,000 after buying an additional 51,003 shares in the last quarter. Jane Street Group LLC raised its position in shares of Boston Beer by 171.8% in the first quarter. Jane Street Group LLC now owns 15,876 shares of the company's stock valued at $4,833,000 after buying an additional 37,985 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Boston Beer by 190.6% during the second quarter. Assenagon Asset Management S.A. now owns 46,659 shares of the company's stock valued at $14,233,000 after buying an additional 30,601 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in Boston Beer by 17.0% during the second quarter. Dimensional Fund Advisors LP now owns 182,972 shares of the company's stock worth $55,814,000 after acquiring an additional 26,538 shares during the last quarter. Hedge funds and other 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.