Boston Beer (NYSE:SAM) Price Target Raised to $309.00

Boston Beer (NYSE:SAM) had its price target lifted by equities researchers at UBS Group from $300.00 to $309.00 in a research report issued on Thursday. UBS Group’s price objective would suggest a potential upside of 4.41% from the stock’s previous close.

A number of other brokerages have also recently commented on SAM. Deutsche Bank Aktiengesellschaft cut 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 note on Thursday. Royal Bank of Canada decreased their price target on Boston Beer from $332.00 to $318.00 and set a “sector perform” rating on the stock in a research note on Friday, July 26th. Roth Mkm reiterated a “buy” rating and set a $389.00 price objective on shares of Boston Beer in a research note on Wednesday. Finally, Piper Sandler cut their price objective on Boston Beer from $344.00 to $325.00 and set an “overweight” rating for the company in a report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $314.82.

Boston Beer Trading Down 2.0 %

Shares of NYSE SAM opened at $295.96 on Thursday. Boston Beer has a one year low of $254.40 and a one year high of $372.61. The business has a fifty day simple moving average of $279.71 and a 200 day simple moving average of $282.30. The firm has a market capitalization of $3.47 billion, a price-to-earnings ratio of 38.74, a PEG ratio of 1.23 and a beta of 1.06.

Boston Beer (NYSE:SAM) last released its quarterly earnings data on Thursday, July 25th. The company reported $4.39 EPS for the quarter, missing analysts’ consensus estimates of $4.99 by ($0.60). Boston Beer had a return on equity of 9.69% and a net margin of 4.39%. The business had revenue of $579.10 million for the quarter, compared to the consensus estimate of $597.33 million. During the same period in the previous year, the business posted $4.72 earnings per share. Boston Beer’s revenue was down 4.0% on a year-over-year basis. On average, research analysts anticipate that Boston Beer will post 9.63 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Boston Beer

Hedge funds have recently added to or reduced their stakes in the stock. Mesirow Institutional Investment Management Inc. acquired a new position in shares of Boston Beer during the second quarter worth approximately $16,014,000. D. E. Shaw & Co. Inc. raised its position in Boston Beer by 80.0% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 114,736 shares of the company’s stock worth $35,000,000 after purchasing an additional 51,003 shares during the last quarter. Jane Street Group LLC lifted its holdings in Boston Beer by 171.8% during the 1st quarter. Jane Street Group LLC now owns 15,876 shares of the company’s stock worth $4,833,000 after buying an additional 37,985 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in Boston Beer by 190.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 46,659 shares of the company’s stock valued at $14,233,000 after buying an additional 30,601 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Boston Beer by 17.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 182,972 shares of the company’s stock valued at $55,814,000 after buying an additional 26,538 shares during the period. Institutional investors own 81.13% of the company’s stock.

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.