UBS Group Cuts Boston Beer (NYSE:SAM) Price Target to $290.00

Boston Beer (NYSE:SAM) had its price objective reduced by UBS Group from $315.00 to $290.00 in a report issued on Thursday morning,Benzinga reports. They currently have a neutral rating on the stock.

A number of other brokerages also recently commented on SAM. Piper Sandler lifted their price target on shares of Boston Beer from $325.00 to $330.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Needham & Company LLC began coverage on Boston Beer in a report on Friday, December 6th. They issued a “hold” rating for the company. Deutsche Bank Aktiengesellschaft reduced their price target on Boston Beer from $281.00 to $277.00 and set a “hold” rating on the stock in a research note on Thursday, October 24th. StockNews.com downgraded Boston Beer from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $318.00 target price on shares of Boston Beer in a research report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $308.40.

Boston Beer Price Performance

Shares of NYSE SAM opened at $251.90 on Thursday. The firm’s 50-day moving average is $301.14 and its two-hundred day moving average is $288.76. The company has a market capitalization of $2.89 billion, a PE ratio of 37.04, a price-to-earnings-growth ratio of 0.81 and a beta of 1.08. Boston Beer has a 12-month low of $249.21 and a 12-month high of $371.65.

Institutional Trading of Boston Beer

A number of institutional investors and hedge funds have recently bought and sold shares of the business. First Horizon Advisors Inc. boosted its position in Boston Beer by 105.1% during the 3rd quarter. First Horizon Advisors Inc. now owns 121 shares of the company’s stock worth $35,000 after purchasing an additional 62 shares during the period. Covestor Ltd lifted its stake in shares of Boston Beer by 36.6% during the third quarter. Covestor Ltd now owns 127 shares of the company’s stock worth $37,000 after purchasing an additional 34 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Boston Beer by 59.3% in the fourth quarter. GAMMA Investing LLC now owns 129 shares of the company’s stock worth $39,000 after buying an additional 48 shares during the period. True Wealth Design LLC acquired a new stake in shares of Boston Beer in the third quarter valued at about $47,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Boston Beer during the 3rd quarter valued at about $49,000. Institutional investors and hedge funds own 81.13% of the company’s stock.

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.