Boston Beer (NYSE:SAM) Given New $277.00 Price Target at Deutsche Bank Aktiengesellschaft

Boston Beer (NYSE:SAM - Get Free Report) had its price target dropped by investment analysts at Deutsche Bank Aktiengesellschaft from $281.00 to $277.00 in a research report issued to clients and investors on Thursday. The firm currently has a "hold" rating on the stock. Deutsche Bank Aktiengesellschaft's price objective suggests a potential downside of 8.20% from the stock's previous close.

Other analysts have also recently issued research reports about the company. Roth Mkm reaffirmed a "buy" rating and set a $389.00 price target on shares of Boston Beer in a research report on Wednesday. Royal Bank of Canada dropped their target price on Boston Beer from $332.00 to $318.00 and set a "sector perform" rating on the stock in a research report on Friday, July 26th. Finally, Piper Sandler reduced their price target on shares of Boston Beer from $344.00 to $325.00 and set an "overweight" rating for the company in a research report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $322.58.

Boston Beer Stock Up 0.1 %

Shares of SAM traded up $0.24 during mid-day trading on Thursday, hitting $301.75. 160,652 shares of the company traded hands, compared to its average volume of 158,976. The business has a 50 day moving average of $279.01 and a 200 day moving average of $282.17. The company has a market capitalization of $3.54 billion, a PE ratio of 39.50, a price-to-earnings-growth ratio of 1.23 and a beta of 1.06. Boston Beer has a 1-year low of $254.40 and a 1-year high of $378.08.

Boston Beer (NYSE:SAM - Get Free Report) last posted 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). The company had revenue of $579.10 million during the quarter, compared to analysts' expectations of $597.33 million. Boston Beer had a return on equity of 9.69% and a net margin of 4.39%. The company's quarterly revenue was down 4.0% on a year-over-year basis. During the same period in the prior year, the business posted $4.72 EPS. As a group, research analysts expect that Boston Beer will post 9.63 EPS for the current fiscal year.

Institutional Trading of Boston Beer

Institutional investors and hedge funds have recently made changes to their positions in the business. LRI Investments LLC purchased a new stake in Boston Beer in the 1st quarter worth $28,000. ORG Partners LLC purchased a new stake in shares of Boston Beer during the second quarter worth about $48,000. Sachetta LLC lifted its stake in Boston Beer by 1,533.3% in the 2nd quarter. Sachetta LLC now owns 245 shares of the company's stock valued at $68,000 after buying an additional 230 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its stake in Boston Beer by 61.3% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 250 shares of the company's stock valued at $75,000 after buying an additional 95 shares in the last quarter. Finally, Quarry LP boosted its holdings in Boston Beer by 984.0% in the 2nd quarter. Quarry LP now owns 271 shares of the company's stock worth $83,000 after buying an additional 246 shares during the last quarter. 81.13% of the stock is currently owned by hedge funds and other 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.