Boston Beer (NYSE:SAM - Free Report) had its price objective decreased by Piper Sandler from $275.00 to $240.00 in a research note issued to investors on Wednesday,Benzinga reports. Piper Sandler currently has a neutral rating on the stock.
SAM has been the subject of several other reports. Citigroup lowered their target price on Boston Beer from $335.00 to $290.00 and set a "neutral" rating for the company in a research note on Wednesday, January 15th. Roth Mkm reaffirmed a "buy" rating and set a $349.00 price objective (down from $389.00) on shares of Boston Beer in a research note on Wednesday. UBS Group decreased their price objective on Boston Beer from $315.00 to $290.00 and set a "neutral" rating for the company in a research note on Thursday, January 16th. Needham & Company LLC initiated coverage on Boston Beer in a research note on Friday, December 6th. They set a "hold" rating for the company. Finally, Morgan Stanley decreased their price objective on Boston Beer from $290.00 to $270.00 and set an "equal weight" rating for the company in a research note on Wednesday. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, Boston Beer has a consensus rating of "Hold" and an average price target of $293.40.
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Boston Beer Stock Down 0.1 %
SAM traded down $0.24 during trading on Wednesday, hitting $243.80. The company's stock had a trading volume of 412,325 shares, compared to its average volume of 213,562. The firm's 50 day moving average price is $257.33 and its two-hundred day moving average price is $280.42. The stock has a market capitalization of $2.80 billion, a price-to-earnings ratio of 35.85, a price-to-earnings-growth ratio of 1.23 and a beta of 1.06. Boston Beer has a 12 month low of $222.27 and a 12 month high of $339.77.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in SAM. Norges Bank acquired a new position in Boston Beer in the fourth quarter valued at about $30,741,000. J. Goldman & Co LP lifted its holdings in shares of Boston Beer by 251.8% in the fourth quarter. J. Goldman & Co LP now owns 119,687 shares of the company's stock valued at $35,904,000 after purchasing an additional 85,669 shares in the last quarter. Cooper Creek Partners Management LLC bought a new stake in shares of Boston Beer in the fourth quarter valued at about $25,054,000. Global Alpha Capital Management Ltd. bought a new stake in shares of Boston Beer in the fourth quarter valued at about $23,349,000. Finally, Freestone Grove Partners LP bought a new stake in shares of Boston Beer in the fourth quarter valued at about $21,412,000. 81.13% of the stock is owned by institutional investors and hedge funds.
About Boston Beer
(
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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.
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