Boston Beer (NYSE:SAM) Sets New 1-Year Low – Here’s Why

The Boston Beer Company, Inc. (NYSE:SAM)’s stock price reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $221.50 and last traded at $221.64, with a volume of 165728 shares traded. The stock had previously closed at $228.19.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Roth Mkm reiterated a “buy” rating and issued a $349.00 price objective (down from $389.00) on shares of Boston Beer in a research report on Wednesday, February 26th. Morgan Stanley decreased their price target on Boston Beer from $290.00 to $270.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 26th. Citigroup raised Boston Beer from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $265.00 to $280.00 in a report on Thursday. UBS Group reduced their target price on shares of Boston Beer from $315.00 to $290.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Finally, Piper Sandler dropped their price target on shares of Boston Beer from $275.00 to $240.00 and set a “neutral” rating for the company in a research note on Wednesday, February 26th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Boston Beer has an average rating of “Hold” and an average target price of $292.40.

Boston Beer Trading Up 3.8 %

The firm has a market cap of $2.56 billion, a P/E ratio of 33.47, a price-to-earnings-growth ratio of 1.23 and a beta of 1.14. The firm’s 50 day moving average is $240.10 and its two-hundred day moving average is $275.95.

Hedge Funds Weigh In On Boston Beer

Several institutional investors and hedge funds have recently made changes to their positions in the company. Blue Trust Inc. lifted its holdings in Boston Beer by 405.6% during the fourth 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 lifted 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 valued at $28,000 after purchasing an additional 89 shares in the last quarter. GeoWealth Management LLC acquired a new position in shares of Boston Beer in the 4th quarter valued at approximately $35,000. First Horizon Advisors Inc. increased its stake in 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 purchasing an additional 62 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in Boston Beer by 59.3% during the 4th quarter. GAMMA Investing LLC now owns 129 shares of the company’s stock worth $39,000 after buying an additional 48 shares during the period. Institutional investors and hedge funds own 81.13% of the company’s stock.

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.