Boston Beer (NYSE:SAM) Rating Lowered to Hold at Jefferies Financial Group

Jefferies Financial Group cut shares of Boston Beer (NYSE:SAM) from a buy rating to a hold rating in a research report report published on Friday, MarketBeat.com reports. Jefferies Financial Group currently has $325.00 price objective on the stock, down from their prior price objective of $355.00.

Other equities analysts have also recently issued reports about the company. Royal Bank of Canada decreased their price objective on Boston Beer from $332.00 to $318.00 and set a “sector perform” rating on the stock in a report on Friday, July 26th. Piper Sandler decreased their price target on shares of Boston Beer from $344.00 to $325.00 and set an “overweight” rating on the stock in a research note on Friday, July 26th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Boston Beer from $281.00 to $277.00 and set a “hold” rating for the company in a report on Thursday. Roth Mkm reaffirmed a “buy” rating and set a $389.00 target price on shares of Boston Beer in a report on Wednesday, October 23rd. Finally, UBS Group boosted their price target on shares of Boston Beer from $300.00 to $309.00 in a research note on Thursday. One analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Boston Beer presently has a consensus rating of “Hold” and a consensus target price of $314.82.

Boston Beer Price Performance

Shares of NYSE:SAM opened at $295.96 on Friday. The company’s fifty day moving average price is $279.71 and its 200-day moving average price is $282.18. The firm has a market capitalization of $3.54 billion, a price-to-earnings ratio of 37.13, a PEG ratio of 1.23 and a beta of 1.06. Boston Beer has a one year low of $254.40 and a one year high of $372.61.

Boston Beer (NYSE:SAM) last released its earnings results 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 net margin of 4.39% and a return on equity of 9.69%. The firm had revenue of $579.10 million during the quarter, compared to the consensus estimate of $597.33 million. During the same period in the prior year, the company earned $4.72 EPS. The firm’s revenue was down 4.0% compared to the same quarter last year. As a group, equities research analysts expect that Boston Beer will post 9.63 EPS for the current year.

Hedge Funds Weigh In On Boston Beer

A number of hedge funds have recently modified their holdings of the company. LRI Investments LLC purchased a new stake in shares of Boston Beer during the first quarter worth about $28,000. ORG Partners LLC purchased a new stake in Boston Beer in the 2nd quarter worth approximately $48,000. Sachetta LLC grew its position in shares of Boston Beer by 1,533.3% in the 2nd quarter. Sachetta LLC now owns 245 shares of the company’s stock worth $68,000 after buying an additional 230 shares during the last quarter. DekaBank Deutsche Girozentrale increased its stake in shares of Boston Beer by 61.3% during the second quarter. DekaBank Deutsche Girozentrale now owns 250 shares of the company’s stock valued at $75,000 after buying an additional 95 shares during the period. Finally, Quarry LP raised its holdings in shares of Boston Beer by 984.0% during the second quarter. Quarry LP now owns 271 shares of the company’s stock valued at $83,000 after acquiring an additional 246 shares in the last quarter. Hedge funds and other 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.