The Boston Beer Company, Inc. (NYSE:SAM) Given Consensus Recommendation of "Hold" by Brokerages

Shares of The Boston Beer Company, Inc. (NYSE:SAM - Get Free Report) have been assigned a consensus rating of "Hold" from the fourteen ratings firms that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, ten have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $335.00.

Several equities research analysts recently commented on the company. The Goldman Sachs Group lowered their price target on Boston Beer from $257.00 to $250.00 and set a "sell" rating for the company in a research note on Tuesday, April 9th. Citigroup reduced their price objective on shares of Boston Beer from $350.00 to $315.00 and set a "neutral" rating for the company in a research note on Tuesday, April 16th. Piper Sandler assumed coverage on shares of Boston Beer in a research report on Friday, March 22nd. They set an "overweight" rating and a $350.00 target price on the stock. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $337.00 price target on shares of Boston Beer in a research report on Wednesday, February 28th. Finally, Evercore ISI increased their price objective on Boston Beer from $310.00 to $325.00 and gave the company an "in-line" rating in a report on Friday, April 26th.

Insider Activity at Boston Beer

In related news, insider Carolyn L. O'boyle sold 101 shares of the business's stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $303.49, for a total transaction of $30,652.49. Following the transaction, the insider now directly owns 7,029 shares in the company, valued at $2,133,231.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 24.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Boston Beer

Several institutional investors and hedge funds have recently bought and sold shares of the business. Trexquant Investment LP boosted its position in shares of Boston Beer by 136.3% during the 4th quarter. Trexquant Investment LP now owns 13,171 shares of the company's stock valued at $4,552,000 after acquiring an additional 7,598 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Boston Beer by 26.5% in the 3rd quarter. Wellington Management Group LLP now owns 66,548 shares of the company's stock worth $25,922,000 after buying an additional 13,951 shares in the last quarter. Wedge Capital Management L L P NC acquired a new position in shares of Boston Beer in the 4th quarter worth approximately $1,010,000. International Assets Investment Management LLC bought a new position in shares of Boston Beer during the 4th quarter worth approximately $64,490,000. Finally, Amica Mutual Insurance Co. acquired a new position in Boston Beer in the fourth quarter worth $1,109,000. Institutional investors own 81.13% of the company's stock.

Boston Beer Trading Up 2.2 %

Boston Beer stock traded up $6.40 during mid-day trading on Monday, reaching $291.27. The company's stock had a trading volume of 108,963 shares, compared to its average volume of 182,619. The firm has a market cap of $3.48 billion, a price-to-earnings ratio of 36.55, a PEG ratio of 1.07 and a beta of 1.09. Boston Beer has a twelve month low of $254.40 and a twelve month high of $395.52. The business has a 50 day moving average price of $282.53 and a 200-day moving average price of $317.07.

Boston Beer (NYSE:SAM - Get Free Report) last issued its quarterly earnings results on Thursday, April 25th. The company reported $1.04 earnings per share for the quarter, topping analysts' consensus estimates of $0.08 by $0.96. The company had revenue of $426.05 million during the quarter, compared to analyst estimates of $414.18 million. Boston Beer had a net margin of 4.60% and a return on equity of 10.11%. On average, equities analysts expect that Boston Beer will post 10.25 EPS for the current fiscal year.

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.