Boston Beer (NYSE:SAM) Reaches New 12-Month Low – What’s Next?

The Boston Beer Company, Inc. (NYSE:SAM) reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $236.65 and last traded at $236.59, with a volume of 8422 shares changing hands. The stock had previously closed at $239.35.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on SAM shares. Piper Sandler lowered Boston Beer from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $370.00 to $275.00 in a report on Thursday, January 23rd. Citigroup cut their target price on Boston Beer from $335.00 to $290.00 and set a “neutral” rating on the stock in a report on Wednesday, January 15th. Roth Mkm restated a “buy” rating and issued a $389.00 price objective on shares of Boston Beer in a research note on Wednesday, October 23rd. Royal Bank of Canada restated a “sector perform” rating and set a $318.00 target price on shares of Boston Beer in a research note on Friday, October 25th. Finally, UBS Group decreased their price target on shares of Boston Beer from $315.00 to $290.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Boston Beer currently has a consensus rating of “Hold” and a consensus target price of $302.90.

Boston Beer Price Performance

The company has a fifty day moving average price of $278.11 and a two-hundred day moving average price of $284.19. The company has a market capitalization of $2.66 billion, a P/E ratio of 34.18, a PEG ratio of 0.78 and a beta of 1.06.

Institutional Investors Weigh In On Boston Beer

Several hedge funds and other institutional investors have recently made changes to their positions in the business. WINTON GROUP Ltd bought a new stake in Boston Beer during the 4th quarter worth approximately $6,471,000. Fox Run Management L.L.C. grew its holdings in Boston Beer by 44.2% during the fourth quarter. Fox Run Management L.L.C. now owns 2,302 shares of the company’s stock worth $691,000 after buying an additional 706 shares in the last quarter. Virtu Financial LLC bought a new position in Boston Beer during the 4th quarter valued at $377,000. 1620 Investment Advisors Inc. grew its stake in shares of Boston Beer by 89.4% in the 4th quarter. 1620 Investment Advisors Inc. now owns 909 shares of the company’s stock worth $273,000 after acquiring an additional 429 shares in the last quarter. Finally, Teacher Retirement System of Texas lifted its position in shares of Boston Beer by 98.9% during the fourth quarter. Teacher Retirement System of Texas now owns 4,801 shares of the company’s stock valued at $1,440,000 after purchasing an additional 2,387 shares in the last quarter. 81.13% of the stock is owned by institutional investors.

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.