The Boston Beer Company, Inc. (NYSE:SAM) Given Consensus Recommendation of “Hold” by Analysts

Shares of The Boston Beer Company, Inc. (NYSE:SAM) have earned a consensus rating of “Hold” from the eleven brokerages that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $293.40.

SAM has been the subject of a number of recent research reports. Needham & Company LLC initiated coverage on Boston Beer in a research note on Friday, December 6th. They set a “hold” rating for the company. Citigroup cut their price target on Boston Beer from $335.00 to $290.00 and set a “neutral” rating for the company in a research note on Wednesday, January 15th. UBS Group cut their price target on Boston Beer from $315.00 to $290.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Roth Mkm reiterated a “buy” rating and set a $349.00 price objective (down from $389.00) on shares of Boston Beer in a research note on Wednesday. Finally, Morgan Stanley cut their price objective on Boston Beer from $290.00 to $270.00 and set an “equal weight” rating for the company in a research note on Wednesday.

Boston Beer Stock Down 0.1 %

Boston Beer stock opened at $243.80 on Friday. The business has a 50-day simple moving average of $257.33 and a two-hundred day simple moving average of $280.37. The company has a market cap of $2.80 billion, a P/E ratio of 35.85, a P/E/G ratio of 1.23 and a beta of 1.06. Boston Beer has a 52-week low of $222.27 and a 52-week high of $339.77.

Institutional Trading of Boston Beer

Several hedge funds have recently modified their holdings of SAM. Blue Trust Inc. raised its holdings in shares of Boston Beer by 405.6% during the 4th quarter. Blue Trust Inc. now owns 91 shares of the company’s stock worth $26,000 after acquiring an additional 73 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Boston Beer by 2,225.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 93 shares of the company’s stock worth $28,000 after acquiring an additional 89 shares in the last quarter. First Horizon Advisors Inc. raised its holdings in shares of Boston Beer by 105.1% during the 3rd quarter. First Horizon Advisors Inc. now owns 121 shares of the company’s stock worth $35,000 after acquiring an additional 62 shares in the last quarter. GeoWealth Management LLC purchased a new stake in shares of Boston Beer during the 4th quarter worth approximately $35,000. Finally, Covestor Ltd raised its holdings in shares of Boston Beer by 36.6% during the 3rd quarter. Covestor Ltd now owns 127 shares of the company’s stock worth $37,000 after acquiring an additional 34 shares in the last quarter. 81.13% of the stock is owned by hedge funds and other 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.