The Boston Beer Company, Inc. (NYSE:SAM) Given Average Rating of "Hold" by Analysts

The Boston Beer Company, Inc. (NYSE:SAM - Get Free Report) has earned a consensus recommendation of "Hold" from the twelve research firms that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation and two have issued a buy recommendation on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $314.82.

SAM has been the subject of a number of analyst reports. Jefferies Financial Group cut shares of Boston Beer from a "buy" rating to a "hold" rating and decreased their price objective for the company from $355.00 to $325.00 in a research report on Friday, October 25th. Piper Sandler increased their price target on Boston Beer from $325.00 to $330.00 and gave the company an "overweight" rating in a report on Friday, October 25th. UBS Group lifted their price objective on Boston Beer from $300.00 to $309.00 in a report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft reduced their target price on Boston Beer from $281.00 to $277.00 and set a "hold" rating for the company in a research note on Thursday, October 24th. Finally, Needham & Company LLC started coverage on shares of Boston Beer in a research note on Friday. They issued a "hold" rating for the company.

Hedge Funds Weigh In On Boston Beer

Institutional investors have recently made changes to their positions in the stock. Mesirow Institutional Investment Management Inc. bought a new stake in Boston Beer in the 2nd quarter valued at about $16,014,000. D. E. Shaw & Co. Inc. increased its stake in shares of Boston Beer by 80.0% in the second quarter. D. E. Shaw & Co. Inc. now owns 114,736 shares of the company's stock valued at $35,000,000 after purchasing an additional 51,003 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of Boston Beer by 190.6% during the second quarter. Assenagon Asset Management S.A. now owns 46,659 shares of the company's stock valued at $14,233,000 after buying an additional 30,601 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Boston Beer by 17.0% during the second quarter. Dimensional Fund Advisors LP now owns 182,972 shares of the company's stock valued at $55,814,000 after buying an additional 26,538 shares during the last quarter. Finally, State Street Corp boosted its position in shares of Boston Beer by 7.8% during the third quarter. State Street Corp now owns 292,643 shares of the company's stock worth $84,615,000 after buying an additional 21,276 shares during the period. 81.13% of the stock is owned by institutional investors.

Boston Beer Stock Up 2.4 %

Shares of NYSE SAM traded up $7.66 during trading on Monday, reaching $322.47. 80,006 shares of the stock were exchanged, compared to its average volume of 153,469. The company has a market capitalization of $3.70 billion, a price-to-earnings ratio of 47.42, a price-to-earnings-growth ratio of 1.21 and a beta of 1.07. The business's 50-day moving average price is $300.77 and its 200 day moving average price is $288.54. Boston Beer has a twelve month low of $254.40 and a twelve month high of $371.65.

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.