Boston Beer (NYSE:SAM) Shares Up 3% – Here’s Why

The Boston Beer Company, Inc. (NYSE:SAM)’s share price was up 3% during trading on Friday . The company traded as high as $249.59 and last traded at $250.69. Approximately 84,030 shares changed hands during mid-day trading, a decline of 60% from the average daily volume of 212,626 shares. The stock had previously closed at $243.29.

Analyst Upgrades and Downgrades

SAM has been the topic of a number of recent analyst reports. StockNews.com downgraded Boston Beer from a “buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Roth Mkm reaffirmed a “buy” rating and issued a $349.00 price target (down previously from $389.00) on shares of Boston Beer in a research report on Wednesday, February 26th. Piper Sandler cut their price objective on shares of Boston Beer from $275.00 to $240.00 and set a “neutral” rating on the stock in a report on Wednesday, February 26th. Citigroup raised Boston Beer from a “neutral” rating to a “buy” rating and increased their price target for the company from $265.00 to $280.00 in a research report on Thursday, March 20th. Finally, Berenberg Bank initiated coverage on shares of Boston Beer in a research note on Wednesday. They issued a “hold” rating and a $281.10 target price on the stock. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $291.37.

Boston Beer Stock Performance

The firm has a market cap of $2.76 billion, a P/E ratio of 36.13, a P/E/G ratio of 1.23 and a beta of 1.26. The business’s 50-day simple moving average is $237.08 and its 200 day simple moving average is $273.25.

Institutional Trading of Boston Beer

Institutional investors and hedge funds have recently modified their holdings of the company. Blue Trust Inc. grew its stake in Boston Beer by 405.6% during the fourth quarter. Blue Trust Inc. now owns 91 shares of the company’s stock valued at $26,000 after acquiring an additional 73 shares in the last quarter. EverSource Wealth Advisors LLC increased its position 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 during the last quarter. GeoWealth Management LLC bought a new stake in shares of Boston Beer in the 4th quarter worth about $35,000. GAMMA Investing LLC boosted its position in shares of Boston Beer by 59.3% during the fourth quarter. GAMMA Investing LLC now owns 129 shares of the company’s stock valued at $39,000 after buying an additional 48 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Boston Beer in the 3rd quarter valued at $49,000. 81.13% of the stock is currently owned by 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.