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 rating of “Hold” from the twelve ratings firms that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $314.82.

Several research firms have weighed in on SAM. Deutsche Bank Aktiengesellschaft dropped their price target on Boston Beer from $281.00 to $277.00 and set a “hold” rating on the stock in a research note on Thursday, October 24th. Piper Sandler increased their price target on shares of Boston Beer from $325.00 to $330.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. UBS Group lifted their price objective on shares of Boston Beer from $300.00 to $309.00 in a research note on Thursday, October 24th. Needham & Company LLC began coverage on shares of Boston Beer in a research note on Friday, December 6th. They issued a “hold” rating on the stock. Finally, Roth Mkm restated a “buy” rating and set a $389.00 target price on shares of Boston Beer in a research report on Wednesday, October 23rd.

Hedge Funds Weigh In On Boston Beer

A number of institutional investors have recently made changes to their positions in SAM. First Horizon Advisors Inc. increased its holdings in shares of Boston Beer by 105.1% during the 3rd quarter. First Horizon Advisors Inc. now owns 121 shares of the company’s stock worth $35,000 after buying an additional 62 shares during the last quarter. Covestor Ltd increased its stake in Boston Beer by 36.6% during the third quarter. Covestor Ltd now owns 127 shares of the company’s stock worth $37,000 after acquiring an additional 34 shares during the last quarter. True Wealth Design LLC purchased a new position in shares of Boston Beer in the 3rd quarter worth about $47,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Boston Beer in the 3rd quarter valued at about $49,000. Finally, Sachetta LLC lifted 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 valued at $68,000 after purchasing an additional 230 shares in the last quarter. 81.13% of the stock is owned by institutional investors and hedge funds.

Boston Beer Stock Up 0.4 %

Shares of SAM opened at $301.26 on Friday. The company has a 50 day moving average of $308.12 and a two-hundred day moving average of $291.19. The company has a market cap of $3.46 billion, a price-to-earnings ratio of 44.30, a price-to-earnings-growth ratio of 1.21 and a beta of 1.07. Boston Beer has a twelve month low of $254.40 and a twelve month high of $371.65.

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.