Boston Beer (NYSE:SAM) Reaches New 1-Year Low at $272.55

The Boston Beer Company, Inc. (NYSE:SAM)’s stock price hit a new 52-week low during mid-day trading on Monday . The company traded as low as $272.55 and last traded at $272.88, with a volume of 59483 shares trading hands. The stock had previously closed at $277.28.

Wall Street Analysts Forecast Growth

SAM has been the subject of several recent analyst reports. Piper Sandler assumed coverage on Boston Beer in a research note on Friday, March 22nd. They set an “overweight” rating and a $350.00 target price for the company. Morgan Stanley dropped their target price on shares of Boston Beer from $285.00 to $275.00 and set an “underweight” rating for the company in a report on Wednesday, February 28th. The Goldman Sachs Group decreased their price target on shares of Boston Beer from $257.00 to $250.00 and set a “sell” rating on the stock in a report on Tuesday, April 9th. Sanford C. Bernstein upgraded Boston Beer from an “underperform” rating to a “market perform” rating and increased their target price for the company from $280.00 to $335.00 in a research report on Tuesday, January 16th. Finally, UBS Group lowered their price objective on Boston Beer from $390.00 to $355.00 and set a “neutral” rating for the company in a research note on Wednesday, February 28th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Boston Beer currently has a consensus rating of “Hold” and a consensus target price of $335.21.

Boston Beer Trading Down 3.4 %

The firm has a 50-day moving average of $296.61 and a 200 day moving average of $330.59. The company has a market cap of $3.20 billion, a P/E ratio of 34.79, a price-to-earnings-growth ratio of 1.04 and a beta of 1.03.

Boston Beer (NYSE:SAM) last posted its quarterly earnings results on Thursday, April 25th. The company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.96. The firm had revenue of $426.05 million for the quarter, compared to analysts’ expectations of $414.18 million. Boston Beer had a return on equity of 10.11% and a net margin of 4.60%. On average, equities analysts predict that The Boston Beer Company, Inc. will post 10.26 EPS for the current year.

Insider Activity

In related 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 value of $30,652.49. Following the completion of the sale, the insider now owns 7,029 shares of the company’s stock, valued at approximately $2,133,231.21. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 24.00% of the company’s stock.

Institutional Trading of Boston Beer

Several institutional investors and hedge funds have recently modified their holdings of SAM. Covestor Ltd raised its position in Boston Beer by 88.4% in the 3rd quarter. Covestor Ltd now owns 81 shares of the company’s stock valued at $32,000 after buying an additional 38 shares during the last quarter. Quarry LP purchased a new stake in shares of Boston Beer in the fourth quarter valued at about $42,000. First Command Advisory Services Inc. bought a new position in shares of Boston Beer during the third quarter valued at about $56,000. DekaBank Deutsche Girozentrale purchased a new position in Boston Beer during the third quarter worth about $59,000. Finally, CWM LLC grew its position in Boston Beer by 17.6% in the 4th quarter. CWM LLC now owns 227 shares of the company’s stock worth $78,000 after purchasing an additional 34 shares in the last quarter. 81.13% of the stock is owned by hedge funds and other 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.