Brokerages Set The Boston Beer Company, Inc. (NYSE:SAM) PT at $314.82

Shares of The Boston Beer Company, Inc. (NYSE:SAM) have earned an average recommendation of “Hold” from the twelve analysts that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $314.82.

A number of equities research analysts have recently weighed in on SAM shares. Needham & Company LLC initiated coverage on Boston Beer in a research note on Friday, December 6th. They issued a “hold” rating for the company. UBS Group boosted their price target on shares of Boston Beer from $300.00 to $309.00 in a research note on Thursday, October 24th. Piper Sandler raised their price objective on shares of Boston Beer from $325.00 to $330.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Roth Mkm reaffirmed a “buy” rating and set a $389.00 target price on shares of Boston Beer in a research note on Wednesday, October 23rd. Finally, Jefferies Financial Group cut shares of Boston Beer from a “buy” rating to a “hold” rating and decreased their price target for the company from $355.00 to $325.00 in a research report on Friday, October 25th.

Boston Beer Stock Performance

Boston Beer stock opened at $289.72 on Friday. The company’s 50 day simple moving average is $308.00 and its 200-day simple moving average is $291.12. Boston Beer has a 1 year low of $254.40 and a 1 year high of $371.65. The company has a market capitalization of $3.33 billion, a price-to-earnings ratio of 42.61, a price-to-earnings-growth ratio of 1.21 and a beta of 1.07.

Hedge Funds Weigh In On Boston Beer

Several hedge funds have recently added to or reduced their stakes in SAM. D. E. Shaw & Co. Inc. boosted its holdings in shares of Boston Beer by 80.0% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 114,736 shares of the company’s stock valued at $35,000,000 after buying an additional 51,003 shares in the last quarter. Dimensional Fund Advisors LP grew 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 worth $55,814,000 after purchasing an additional 26,538 shares during the last quarter. State Street Corp increased 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 purchasing an additional 21,276 shares in the last quarter. Quantinno Capital Management LP lifted its holdings in shares of Boston Beer by 647.7% in the 3rd quarter. Quantinno Capital Management LP now owns 21,064 shares of the company’s stock valued at $6,090,000 after purchasing an additional 18,247 shares during the last quarter. Finally, Verition Fund Management LLC boosted its position in shares of Boston Beer by 582.6% in the 3rd quarter. Verition Fund Management LLC now owns 19,693 shares of the company’s stock valued at $5,694,000 after purchasing an additional 16,808 shares during the period. 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.