Brokerages Set The Boston Beer Company, Inc. (NYSE:SAM) Price Target at $335.00

The Boston Beer Company, Inc. (NYSE:SAM) has been given a consensus rating of “Hold” by the fourteen brokerages that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, ten have issued a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $335.00.

A number of research firms recently weighed in on SAM. Citigroup lowered their price target on Boston Beer from $350.00 to $315.00 and set a “neutral” rating on the stock in a report on Tuesday, April 16th. Royal Bank of Canada restated a “sector perform” rating and issued a $337.00 price target on shares of Boston Beer in a report on Wednesday, February 28th. Evercore ISI upped their price target on Boston Beer from $310.00 to $325.00 and gave the stock an “in-line” rating in a report on Friday, April 26th. StockNews.com cut Boston Beer from a “buy” rating to a “hold” rating in a report on Wednesday, June 12th. Finally, Jefferies Financial Group upgraded Boston Beer from a “hold” rating to a “buy” rating and upped their price target for the stock from $335.00 to $360.00 in a report on Tuesday, May 14th.

Boston Beer Trading Up 1.6 %

NYSE SAM opened at $295.56 on Monday. The business’s 50 day moving average is $282.51 and its two-hundred day moving average is $316.20. Boston Beer has a 12-month low of $254.40 and a 12-month high of $395.52. The stock has a market capitalization of $3.53 billion, a price-to-earnings ratio of 37.08, a PEG ratio of 1.09 and a beta of 1.09.

Boston Beer (NYSE:SAM) last released its earnings results on Thursday, April 25th. The company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.96. Boston Beer had a return on equity of 10.11% and a net margin of 4.60%. The company had revenue of $426.05 million for the quarter, compared to analysts’ expectations of $414.18 million. Equities analysts forecast that Boston Beer will post 10.25 earnings per share for the current fiscal year.

Insider Buying and Selling at Boston Beer

In other Boston Beer news, insider Carolyn L. O’boyle sold 101 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $303.49, for a total transaction of $30,652.49. Following the transaction, the insider now owns 7,029 shares of the company’s stock, valued at approximately $2,133,231.21. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 24.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in SAM. Armistice Capital LLC purchased a new position in shares of Boston Beer in the 4th quarter worth $21,499,000. AQR Capital Management LLC raised its position in shares of Boston Beer by 65.9% in the 3rd quarter. AQR Capital Management LLC now owns 115,411 shares of the company’s stock worth $44,433,000 after buying an additional 45,864 shares during the period. Norges Bank purchased a new position in shares of Boston Beer in the 4th quarter worth $13,879,000. Jane Street Group LLC raised its position in shares of Boston Beer by 171.8% in the 1st quarter. Jane Street Group LLC now owns 15,876 shares of the company’s stock worth $4,833,000 after buying an additional 37,985 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of Boston Beer by 2.3% in the 4th quarter. Vanguard Group Inc. now owns 918,502 shares of the company’s stock worth $317,425,000 after buying an additional 21,060 shares during the period. Hedge funds and other 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.