Boston Beer (NYSE:SAM) Earns “Sector Perform” Rating from Royal Bank of Canada

Royal Bank of Canada restated their sector perform rating on shares of Boston Beer (NYSE:SAM) in a report issued on Friday, Benzinga reports. The brokerage currently has a $318.00 target price on the stock.

Several other analysts have also commented on SAM. UBS Group raised their price objective on Boston Beer from $300.00 to $309.00 in a report on Thursday, October 24th. Piper Sandler lifted their price target on shares of Boston Beer from $325.00 to $330.00 and gave the company an “overweight” rating in a research note on Friday. Roth Mkm restated a “buy” rating and set a $389.00 price objective on shares of Boston Beer in a research report on Wednesday, October 23rd. Jefferies Financial Group lowered shares of Boston Beer from a “buy” rating to a “hold” rating and dropped their target price for the company from $355.00 to $325.00 in a research report on Friday. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of Boston Beer from $281.00 to $277.00 and set a “hold” rating for the company in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Boston Beer currently has an average rating of “Hold” and an average price target of $314.82.

Boston Beer Stock Up 2.9 %

SAM stock opened at $304.52 on Friday. Boston Beer has a 52-week low of $254.40 and a 52-week high of $371.65. The firm has a market cap of $3.57 billion, a P/E ratio of 44.78, a PEG ratio of 1.24 and a beta of 1.06. The company’s 50-day simple moving average is $280.19 and its 200-day simple moving average is $282.27.

Institutional Trading of Boston Beer

A number of hedge funds have recently bought and sold shares of SAM. LRI Investments LLC purchased a new stake in shares of Boston Beer in the first quarter valued at approximately $28,000. ORG Partners LLC purchased a new stake in Boston Beer in the 2nd quarter valued at $48,000. Sachetta LLC increased its stake in shares of Boston Beer by 1,533.3% in the 2nd quarter. Sachetta LLC now owns 245 shares of the company’s stock worth $68,000 after acquiring an additional 230 shares during the last quarter. DekaBank Deutsche Girozentrale increased its stake in shares of Boston Beer by 61.3% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 250 shares of the company’s stock worth $75,000 after acquiring an additional 95 shares during the last quarter. Finally, Quarry LP boosted its position in shares of Boston Beer by 984.0% during the 2nd quarter. Quarry LP now owns 271 shares of the company’s stock valued at $83,000 after acquiring an additional 246 shares during the last quarter. 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.