Boston Beer (NYSE:SAM) Research Coverage Started at Berenberg Bank

Berenberg Bank initiated coverage on shares of Boston Beer (NYSE:SAM) in a research report report published on Wednesday morning, Marketbeat.com reports. The brokerage issued a hold rating and a $281.10 target price on the stock.

Several other brokerages also recently commented on SAM. Piper Sandler dropped their price target 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. Roth Mkm reiterated a “buy” rating and set a $349.00 target price (down from $389.00) on shares of Boston Beer in a research note on Wednesday, February 26th. Needham & Company LLC started coverage on shares of Boston Beer in a research report on Friday, December 6th. They issued a “hold” rating on the stock. Morgan Stanley cut their price objective on shares of Boston Beer from $290.00 to $270.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 26th. Finally, StockNews.com downgraded Boston Beer from a “buy” rating to a “hold” rating in a research report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $291.37.

Boston Beer Stock Performance

Boston Beer stock opened at $245.70 on Wednesday. Boston Beer has a 52 week low of $215.10 and a 52 week high of $339.77. The firm has a market capitalization of $2.76 billion, a PE ratio of 36.13, a PEG ratio of 1.23 and a beta of 1.14. The business’s 50-day simple moving average is $237.08 and its 200-day simple moving average is $273.27.

Hedge Funds Weigh In On Boston Beer

Several hedge funds and other institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC lifted its holdings in Boston Beer by 59.3% during the 4th quarter. GAMMA Investing LLC now owns 129 shares of the company’s stock valued at $39,000 after purchasing an additional 48 shares during the last quarter. Lazard Asset Management LLC increased its holdings in shares of Boston Beer by 10.3% during the fourth quarter. Lazard Asset Management LLC now owns 515 shares of the company’s stock worth $153,000 after buying an additional 48 shares in the last quarter. First Horizon Advisors Inc. boosted its holdings in shares of Boston Beer by 42.1% in the 4th quarter. First Horizon Advisors Inc. now owns 172 shares of the company’s stock worth $52,000 after acquiring an additional 51 shares in the last quarter. Cetera Investment Advisers boosted its holdings in shares of Boston Beer by 4.6% in the 4th quarter. Cetera Investment Advisers now owns 1,269 shares of the company’s stock worth $381,000 after acquiring an additional 56 shares in the last quarter. Finally, Exchange Traded Concepts LLC grew its position in Boston Beer by 2.5% during the 4th quarter. Exchange Traded Concepts LLC now owns 2,630 shares of the company’s stock worth $789,000 after acquiring an additional 65 shares during the last quarter. Institutional investors 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.