The Boston Beer Company, Inc. (NYSE:SAM) Receives $314.82 Average PT from Analysts

The Boston Beer Company, Inc. (NYSE:SAM) has been given a consensus rating of “Hold” by the eleven brokerages that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $314.82.

A number of analysts have recently weighed in on SAM shares. UBS Group increased their price objective on shares of Boston Beer from $300.00 to $309.00 in a research note on Thursday, October 24th. Piper Sandler boosted 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. Roth Mkm reaffirmed a “buy” rating and set a $389.00 price objective on shares of Boston Beer in a research note on Wednesday, October 23rd. Jefferies Financial Group cut shares of Boston Beer from a “buy” rating to a “hold” rating and cut their price objective for the company from $355.00 to $325.00 in a report on Friday, October 25th. Finally, Deutsche Bank Aktiengesellschaft cut their price target 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.

Boston Beer Price Performance

NYSE SAM opened at $318.17 on Thursday. The stock’s fifty day moving average price is $288.17 and its 200 day moving average price is $284.45. The company has a market cap of $3.65 billion, a price-to-earnings ratio of 46.79, a PEG ratio of 1.24 and a beta of 1.06. Boston Beer has a 1 year low of $254.40 and a 1 year high of $371.65.

Institutional Investors Weigh In On Boston Beer

Large investors have recently made changes to their positions in the stock. SG Americas Securities LLC grew its holdings in shares of Boston Beer by 128.4% in the first quarter. SG Americas Securities LLC now owns 2,768 shares of the company’s stock valued at $843,000 after purchasing an additional 1,556 shares during the period. Headlands Technologies LLC purchased a new stake in Boston Beer in the 1st quarter valued at about $114,000. Russell Investments Group Ltd. boosted its stake in Boston Beer by 63.1% during the first quarter. Russell Investments Group Ltd. now owns 12,364 shares of the company’s stock worth $3,764,000 after buying an additional 4,782 shares during the period. Ontario Teachers Pension Plan Board acquired a new position in shares of Boston Beer in the 1st quarter worth approximately $3,333,000. Finally, Covestor Ltd lifted its stake in Boston Beer by 240.3% during the 1st quarter. Covestor Ltd now owns 405 shares of the company’s stock worth $124,000 after acquiring an additional 286 shares in the last quarter. 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.