Brokerages Set The Boston Beer Company, Inc. (NYSE:SAM) PT at $293.40

Shares of The Boston Beer Company, Inc. (NYSE:SAM) have been assigned a consensus recommendation of “Hold” from the eleven analysts that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $292.40.

Several brokerages have commented on SAM. Morgan Stanley lowered their price objective on shares of Boston Beer from $290.00 to $270.00 and set an “equal weight” rating for the company in a report on Wednesday, February 26th. Citigroup raised shares of Boston Beer from a “neutral” rating to a “buy” rating and raised their target price for the company from $265.00 to $280.00 in a research note on Thursday. Roth Mkm reaffirmed a “buy” rating and set a $349.00 target price (down previously from $389.00) on shares of Boston Beer in a research note on Wednesday, February 26th. UBS Group decreased their target price on shares of Boston Beer from $315.00 to $290.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Finally, Piper Sandler decreased their target price on shares of Boston Beer from $275.00 to $240.00 and set a “neutral” rating for the company in a research note on Wednesday, February 26th.

Institutional Investors Weigh In On Boston Beer

Several institutional investors and hedge funds have recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. increased its position in shares of Boston Beer by 4.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 703,480 shares of the company’s stock valued at $211,030,000 after acquiring an additional 29,412 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Boston Beer by 19.8% during the fourth quarter. AQR Capital Management LLC now owns 422,217 shares of the company’s stock valued at $125,821,000 after acquiring an additional 69,778 shares in the last quarter. State Street Corp grew its position in Boston Beer by 7.8% in the 3rd quarter. State Street Corp now owns 292,643 shares of the company’s stock worth $84,615,000 after purchasing an additional 21,276 shares during the period. Dimensional Fund Advisors LP grew its position in Boston Beer by 9.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 225,762 shares of the company’s stock worth $67,723,000 after purchasing an additional 19,063 shares during the period. Finally, Fisher Asset Management LLC grew its position in Boston Beer by 27.1% in the 4th quarter. Fisher Asset Management LLC now owns 160,419 shares of the company’s stock worth $48,122,000 after purchasing an additional 34,176 shares during the period. Institutional investors own 81.13% of the company’s stock.

Boston Beer Price Performance

Shares of SAM opened at $227.66 on Wednesday. Boston Beer has a one year low of $215.10 and a one year high of $339.77. The company has a 50-day simple moving average of $239.53 and a two-hundred day simple moving average of $275.64. The firm has a market capitalization of $2.56 billion, a PE ratio of 33.48, a price-to-earnings-growth ratio of 1.23 and a beta of 1.14.

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.