Boston Beer (NYSE:SAM) Shares Gap Down – Should You Sell?

The Boston Beer Company, Inc. (NYSE:SAM) shares gapped down before the market opened on Friday . The stock had previously closed at $301.26, but opened at $294.05. Boston Beer shares last traded at $282.56, with a volume of 14,523 shares trading hands.

Analyst Ratings Changes

Several brokerages have recently commented on SAM. Piper Sandler upped their price objective 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. Deutsche Bank Aktiengesellschaft lowered their price target on Boston Beer from $281.00 to $277.00 and set a “hold” rating for the company in a research report on Thursday, October 24th. Needham & Company LLC started coverage on Boston Beer in a report on Friday, December 6th. They issued a “hold” rating on the stock. Jefferies Financial Group cut Boston Beer from a “buy” rating to a “hold” rating and lowered their target price for the company from $355.00 to $325.00 in a report on Friday, October 25th. Finally, UBS Group boosted their price target on shares of Boston Beer from $300.00 to $309.00 in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $314.82.

Boston Beer Trading Down 3.8 %

The firm’s fifty day simple moving average is $308.00 and its 200 day simple moving average is $291.15. The company has a market cap of $3.33 billion, a price-to-earnings ratio of 42.61, a PEG ratio of 1.21 and a beta of 1.07.

Institutional Trading of Boston Beer

A number of hedge funds and other institutional investors have recently bought and sold shares of SAM. First Horizon Advisors Inc. increased its holdings in shares of Boston Beer by 105.1% in the 3rd quarter. First Horizon Advisors Inc. now owns 121 shares of the company’s stock valued at $35,000 after acquiring an additional 62 shares during the last quarter. Covestor Ltd boosted its holdings in Boston Beer by 36.6% in the third quarter. Covestor Ltd now owns 127 shares of the company’s stock valued at $37,000 after purchasing an additional 34 shares in the last quarter. GAMMA Investing LLC increased its stake in Boston Beer by 59.3% in the fourth 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. True Wealth Design LLC purchased a new position in Boston Beer in the third quarter valued at approximately $47,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Boston Beer during the third quarter worth approximately $49,000. 81.13% of the stock is currently owned by institutional investors and hedge funds.

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.