Boston Beer (NYSE:SAM) Cut to Hold at Jefferies Financial Group

Jefferies Financial Group downgraded shares of Boston Beer (NYSE:SAM - Free Report) from a buy rating to a hold rating in a research report report published on Friday, MarketBeat.com reports. The firm currently has $325.00 target price on the stock, down from their previous target price of $355.00.

A number of other analysts have also commented on SAM. Piper Sandler reduced their price objective on shares of Boston Beer from $344.00 to $325.00 and set an "overweight" rating for the company in a research note on Friday, July 26th. UBS Group upped their price target on shares of Boston Beer from $300.00 to $309.00 in a research report on Thursday. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Boston Beer from $281.00 to $277.00 and set a "hold" rating on the stock in a research report on Thursday. Royal Bank of Canada reduced their price objective on 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, Roth Mkm restated a "buy" rating and set a $389.00 price objective on shares of Boston Beer in a research report on Wednesday. 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 company's stock. According to data from MarketBeat, Boston Beer currently has a consensus rating of "Hold" and an average price target of $320.08.

Boston Beer Stock Performance

Shares of NYSE:SAM traded down $5.92 during trading on Friday, reaching $295.96. The company had a trading volume of 340,988 shares, compared to its average volume of 159,857. Boston Beer has a twelve month low of $254.40 and a twelve month high of $372.61. The firm has a market capitalization of $3.47 billion, a PE ratio of 38.74, a price-to-earnings-growth ratio of 1.23 and a beta of 1.06. The firm's fifty day moving average is $279.44 and its 200 day moving average is $282.31.

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

Institutional Trading of Boston Beer

Large investors have recently added to or reduced their stakes in the business. Pallas Capital Advisors LLC lifted its stake in shares of Boston Beer by 323.5% in the 3rd quarter. Pallas Capital Advisors LLC now owns 3,261 shares of the company's stock valued at $984,000 after purchasing an additional 2,491 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Boston Beer by 389.2% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 5,714 shares of the company's stock worth $1,652,000 after acquiring an additional 4,546 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of Boston Beer during the 3rd quarter valued at about $45,150,000. Aaron Wealth Advisors LLC bought a new position in shares of Boston Beer in the 3rd quarter valued at approximately $329,000. Finally, Claro Advisors LLC bought a new position in shares of Boston Beer in the 3rd quarter valued at approximately $1,762,000. 81.13% of the stock is owned by institutional investors.

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.