Piper Sandler Cuts Boston Beer (NYSE:SAM) Price Target to $230.00

Boston Beer (NYSE:SAM - Free Report) had its target price trimmed by Piper Sandler from $240.00 to $230.00 in a report issued on Thursday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other research firms have also weighed in on SAM. UBS Group reduced their price objective on shares of Boston Beer from $315.00 to $290.00 and set a "neutral" rating for the company in a research note on Thursday, January 16th. Roth Mkm reiterated 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, February 26th. Citigroup raised their target price on Boston Beer from $280.00 to $285.00 and gave the stock a "buy" rating in a research note on Monday, April 14th. Berenberg Bank initiated coverage on Boston Beer in a research report on Wednesday, April 2nd. They set a "hold" rating and a $281.10 price target on the stock. Finally, StockNews.com lowered shares of Boston Beer from a "buy" rating to a "hold" rating in a research report on Wednesday, March 5th. Ten analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Boston Beer presently has an average rating of "Hold" and a consensus target price of $293.91.

Boston Beer Stock Up 0.2 %

Boston Beer stock traded up $0.56 during midday trading on Thursday, reaching $238.98. The stock had a trading volume of 147,457 shares, compared to its average volume of 171,903. The firm has a market capitalization of $2.69 billion, a PE ratio of 35.14, a P/E/G ratio of 1.23 and a beta of 1.26. Boston Beer has a 12 month low of $215.10 and a 12 month high of $339.77. The firm's 50-day moving average price is $235.44 and its 200 day moving average price is $269.96.

Institutional Trading of Boston Beer

A number of hedge funds have recently made changes to their positions in the stock. Cardinal Capital Management raised its position in Boston Beer by 30.9% during the first quarter. Cardinal Capital Management now owns 7,841 shares of the company's stock valued at $1,873,000 after purchasing an additional 1,850 shares in the last quarter. Exchange Traded Concepts LLC raised its holdings in shares of Boston Beer by 34.4% during the 1st quarter. Exchange Traded Concepts LLC now owns 3,535 shares of the company's stock valued at $844,000 after buying an additional 905 shares in the last quarter. SG Americas Securities LLC bought a new stake in Boston Beer in the 1st quarter worth approximately $394,000. Farther Finance Advisors LLC lifted its position in Boston Beer by 602.4% in the 1st quarter. Farther Finance Advisors LLC now owns 295 shares of the company's stock worth $72,000 after buying an additional 253 shares during the last quarter. Finally, Wedge Capital Management L L P NC boosted its stake in Boston Beer by 51.8% in the first quarter. Wedge Capital Management L L P NC now owns 8,593 shares of the company's stock worth $2,052,000 after buying an additional 2,932 shares in the last quarter. 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.