Brokerages Set The Boston Beer Company, Inc. (NYSE:SAM) Price Target at $302.90

Shares of The Boston Beer Company, Inc. (NYSE:SAMGet Free Report) have been assigned an average rating of “Hold” from the eleven research firms that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $302.90.

SAM has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Boston Beer from $281.00 to $277.00 and set a “hold” rating on the stock in a research note on Thursday, October 24th. UBS Group decreased their price objective on Boston Beer from $315.00 to $290.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Piper Sandler cut Boston Beer from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $370.00 to $275.00 in a research note on Thursday, January 23rd. Citigroup decreased their price target on Boston Beer from $335.00 to $290.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th. Finally, StockNews.com downgraded Boston Beer from a “buy” rating to a “hold” rating in a research report on Wednesday, January 15th.

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Boston Beer Stock Up 1.7 %

Shares of SAM opened at $254.38 on Tuesday. The firm’s fifty day moving average is $289.65 and its two-hundred day moving average is $286.25. The stock has a market cap of $2.92 billion, a PE ratio of 37.41, a price-to-earnings-growth ratio of 0.79 and a beta of 1.08. Boston Beer has a 52-week low of $243.20 and a 52-week high of $371.65.

Institutional Investors Weigh In On Boston Beer

A number of hedge funds and other institutional investors have recently modified their holdings of SAM. Covestor Ltd raised its stake 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 buying an additional 34 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Boston Beer by 59.3% in the 4th quarter. GAMMA Investing LLC now owns 129 shares of the company’s stock valued at $39,000 after acquiring an additional 48 shares during the last quarter. First Horizon Advisors Inc. raised its position 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 acquiring an additional 62 shares in the last quarter. Exchange Traded Concepts LLC lifted its stake in Boston Beer by 2.5% during the fourth quarter. Exchange Traded Concepts LLC now owns 2,630 shares of the company’s stock worth $789,000 after purchasing an additional 65 shares during the last quarter. Finally, Great Valley Advisor Group Inc. boosted its holdings in Boston Beer by 8.5% in the third quarter. Great Valley Advisor Group Inc. now owns 867 shares of the company’s stock valued at $251,000 after purchasing an additional 68 shares in the last quarter. 81.13% of the stock is currently owned by institutional investors and hedge funds.

Boston Beer Company Profile

(Get Free Report

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.

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Analyst Recommendations for Boston Beer (NYSE:SAM)

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