The Boston Beer Company, Inc. (NYSE:SAM) Receives Average Recommendation of “Hold” from Analysts

Shares of The Boston Beer Company, Inc. (NYSE:SAM) have earned an average recommendation of “Hold” from the eleven analysts that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $302.90.

SAM has been the subject of a number of recent analyst reports. Citigroup lowered their price objective on shares of Boston Beer from $335.00 to $290.00 and set a “neutral” rating for the company in a research report on Wednesday, January 15th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $318.00 price target on shares of Boston Beer in a research report on Friday, October 25th. Roth Mkm reiterated a “buy” rating and issued a $389.00 price objective on shares of Boston Beer in a research report on Wednesday, October 23rd. StockNews.com downgraded shares of Boston Beer from a “buy” rating to a “hold” rating in a report on Wednesday, January 15th. Finally, Jefferies Financial Group cut shares of Boston Beer from a “buy” rating to a “hold” rating and reduced their price target for the company from $355.00 to $325.00 in a report on Friday, October 25th.

Boston Beer Stock Performance

Shares of NYSE:SAM opened at $253.93 on Tuesday. The company has a 50 day moving average price of $293.08 and a two-hundred day moving average price of $286.98. The company has a market capitalization of $2.92 billion, a PE ratio of 37.34, a PEG ratio of 0.79 and a beta of 1.08. Boston Beer has a 52 week low of $243.20 and a 52 week high of $371.65.

Institutional Investors Weigh In On Boston Beer

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. State Street Corp boosted its holdings in shares of Boston Beer by 7.8% in the 3rd quarter. State Street Corp now owns 292,643 shares of the company’s stock valued at $84,615,000 after buying an additional 21,276 shares during the last quarter. Quantinno Capital Management LP lifted its stake in Boston Beer by 647.7% in the third quarter. Quantinno Capital Management LP now owns 21,064 shares of the company’s stock valued at $6,090,000 after acquiring an additional 18,247 shares during the last quarter. Verition Fund Management LLC lifted its stake in Boston Beer by 582.6% in the third quarter. Verition Fund Management LLC now owns 19,693 shares of the company’s stock valued at $5,694,000 after acquiring an additional 16,808 shares during the last quarter. International Assets Investment Management LLC bought a new position in shares of Boston Beer in the 3rd quarter valued at about $45,150,000. Finally, Holocene Advisors LP increased its stake in shares of Boston Beer by 130.9% during the 3rd quarter. Holocene Advisors LP now owns 17,431 shares of the company’s stock worth $5,040,000 after purchasing an additional 9,882 shares during the last quarter. 81.13% of the stock is owned by institutional investors.

About Boston Beer

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.