The Boston Beer Company, Inc. (NYSE:SAM) Receives $247.28 Average Target Price from Brokerages

Shares of The Boston Beer Company, Inc. (NYSE:SAM) have received an average recommendation of “Hold” from the thirteen research firms that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $247.2818.

SAM has been the subject of a number of research analyst reports. Piper Sandler dropped their price target on shares of Boston Beer from $230.00 to $220.00 and set a “neutral” rating for the company in a research note on Friday, November 21st. Citigroup reduced their price objective on Boston Beer from $250.00 to $220.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 17th. UBS Group lowered their target price on shares of Boston Beer from $246.00 to $234.00 and set a “neutral” rating for the company in a research note on Wednesday, January 14th. Finally, Weiss Ratings raised shares of Boston Beer from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Calamos Advisors LLC boosted its stake in Boston Beer by 12.1% during the third quarter. Calamos Advisors LLC now owns 65,364 shares of the company’s stock valued at $13,819,000 after buying an additional 7,035 shares in the last quarter. Acadian Asset Management LLC bought a new position in shares of Boston Beer in the second quarter valued at $12,795,000. Savoir Faire Capital Management L.P. raised its position in shares of Boston Beer by 28.4% during the third quarter. Savoir Faire Capital Management L.P. now owns 38,825 shares of the company’s stock worth $8,208,000 after purchasing an additional 8,585 shares during the period. SG Americas Securities LLC lifted its holdings in shares of Boston Beer by 835.1% during the third quarter. SG Americas Securities LLC now owns 5,667 shares of the company’s stock valued at $1,198,000 after purchasing an additional 5,061 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its position in shares of Boston Beer by 445.8% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 11,036 shares of the company’s stock valued at $2,444,000 after purchasing an additional 9,014 shares during the period. Institutional investors own 81.13% of the company’s stock.

Boston Beer Stock Performance

Boston Beer stock opened at $246.23 on Friday. The firm has a market capitalization of $2.62 billion, a PE ratio of 29.04, a price-to-earnings-growth ratio of 1.80 and a beta of 1.03. Boston Beer has a one year low of $185.34 and a one year high of $260.00. The stock’s 50 day moving average price is $207.74 and its 200 day moving average price is $212.01.

Boston Beer Company Profile

The Boston Beer Company, Inc (NYSE: SAM) is a leading craft brewer headquartered in Boston, Massachusetts. Since its founding in 1984 by Jim Koch, the company has focused on producing high-quality, distinctive beers and beverages for retail, on-premise, and distribution partners across the United States. Its operations include brewing, packaging, marketing and distribution, supported by a network of wholly owned brewing facilities and strategic partnerships with regional breweries.

Boston Beer’s flagship brand, Samuel Adams Boston Lager, helped establish the modern U.S.