Brokerages Set The Boston Beer Company, Inc. (NYSE:SAM) Price Target at $293.40

The Boston Beer Company, Inc. (NYSE:SAM - Get Free Report) has earned an average rating of "Hold" from the eleven brokerages that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $292.40.

Several research analysts have weighed in on the company. Piper Sandler dropped their target price on Boston Beer from $275.00 to $240.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 26th. UBS Group dropped their target price on Boston Beer from $315.00 to $290.00 and set a "neutral" rating on the stock in a research report on Thursday, January 16th. Needham & Company LLC assumed coverage on Boston Beer in a research report on Friday, December 6th. They issued a "hold" rating on the stock. Citigroup raised Boston Beer from a "neutral" rating to a "buy" rating and upped their target price for the stock from $265.00 to $280.00 in a research report on Thursday. Finally, StockNews.com lowered Boston Beer from a "buy" rating to a "hold" rating in a research report on Wednesday, March 5th.

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Institutional Trading of Boston Beer

Several large investors have recently made changes to their positions in the stock. Entropy Technologies LP bought a new stake in Boston Beer during the 4th quarter valued at approximately $368,000. Legato Capital Management LLC bought a new stake in shares of Boston Beer in the fourth quarter valued at approximately $1,966,000. Merit Financial Group LLC acquired a new stake in shares of Boston Beer in the fourth quarter worth $434,000. Point72 Hong Kong Ltd bought a new position in Boston Beer during the third quarter worth $1,746,000. Finally, Charles Schwab Investment Management Inc. increased its position in Boston Beer by 5.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 94,356 shares of the company's stock worth $28,305,000 after acquiring an additional 4,675 shares during the period. Institutional investors own 81.13% of the company's stock.

Boston Beer Stock Performance

NYSE:SAM traded up $0.15 during trading hours on Wednesday, hitting $227.66. 337,296 shares of the company's stock traded hands, compared to its average volume of 165,711. The firm has a market cap of $2.56 billion, a P/E ratio of 33.48, a P/E/G ratio of 1.23 and a beta of 1.14. Boston Beer has a twelve month low of $215.10 and a twelve month high of $339.77. The stock's fifty day moving average price is $239.53 and its two-hundred day moving average price is $275.64.

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.