Boston Beer (NYSE:SAM) Price Target Lowered to $250.00 at The Goldman Sachs Group

Boston Beer (NYSE:SAM) had its price objective decreased by investment analysts at The Goldman Sachs Group from $257.00 to $250.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has a “sell” rating on the stock. The Goldman Sachs Group’s price objective points to a potential downside of 15.87% from the company’s current price.

Several other equities analysts have also recently issued reports on the stock. Piper Sandler assumed coverage on shares of Boston Beer in a research note on Friday, March 22nd. They set an “overweight” rating and a $350.00 target price on the stock. Royal Bank of Canada reiterated a “sector perform” rating and issued a $337.00 price objective on shares of Boston Beer in a research note on Wednesday, February 28th. Citigroup lowered their price objective on shares of Boston Beer from $370.00 to $350.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 28th. UBS Group decreased their target price on shares of Boston Beer from $390.00 to $355.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 28th. Finally, Sanford C. Bernstein upgraded shares of Boston Beer from an “underperform” rating to a “market perform” rating and raised their target price for the stock from $280.00 to $335.00 in a research note on Tuesday, January 16th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $337.36.

Boston Beer Stock Performance

Shares of SAM stock opened at $297.15 on Tuesday. Boston Beer has a one year low of $287.33 and a one year high of $395.52. The company’s 50-day moving average is $322.82 and its 200 day moving average is $341.96. The company has a market capitalization of $3.57 billion, a price-to-earnings ratio of 47.93, a price-to-earnings-growth ratio of 1.06 and a beta of 1.02.

Boston Beer (NYSE:SAM) last announced its quarterly earnings data on Tuesday, February 27th. The company reported ($1.49) EPS for the quarter, missing the consensus estimate of ($0.22) by ($1.27). Boston Beer had a net margin of 3.61% and a return on equity of 8.13%. The firm had revenue of $393.72 million for the quarter, compared to analysts’ expectations of $413.57 million. During the same period last year, the company posted ($0.93) earnings per share. The business’s revenue for the quarter was down 12.0% compared to the same quarter last year. As a group, research analysts predict that Boston Beer will post 9.98 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Boston Beer news, insider Carolyn L. O’boyle sold 101 shares of Boston Beer stock in a transaction on Monday, April 1st. The shares were sold at an average price of $303.49, for a total transaction of $30,652.49. Following the completion of the transaction, the insider now directly owns 7,029 shares of the company’s stock, valued at $2,133,231.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Boston Beer news, insider Carolyn L. O’boyle sold 101 shares of Boston Beer stock in a transaction on Monday, April 1st. The shares were sold at an average price of $303.49, for a total transaction of $30,652.49. Following the completion of the transaction, the insider now directly owns 7,029 shares of the company’s stock, valued at $2,133,231.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Carolyn L. O’boyle sold 102 shares of Boston Beer stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $350.72, for a total transaction of $35,773.44. Following the transaction, the insider now directly owns 2,630 shares of the company’s stock, valued at $922,393.60. The disclosure for this sale can be found here. 24.00% of the stock is owned by insiders.

Institutional Trading of Boston Beer

Institutional investors and hedge funds have recently made changes to their positions in the company. Covestor Ltd raised its holdings in shares of Boston Beer by 88.4% in the third quarter. Covestor Ltd now owns 81 shares of the company’s stock valued at $32,000 after acquiring an additional 38 shares in the last quarter. Main Street Group LTD purchased a new stake in shares of Boston Beer during the fourth quarter worth about $35,000. Eagle Bay Advisors LLC purchased a new stake in shares of Boston Beer during the second quarter worth about $32,000. Quarry LP purchased a new stake in shares of Boston Beer during the fourth quarter worth about $42,000. Finally, KBC Group NV purchased a new stake in shares of Boston Beer during the fourth quarter worth about $46,000. 81.13% of the stock is currently owned by institutional investors.

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.