Boston Beer (NYSE:SAM) Price Target Lowered to $315.00 at Citigroup

Boston Beer (NYSE:SAM) had its target price decreased by Citigroup from $350.00 to $315.00 in a research note released on Tuesday, Benzinga reports. Citigroup currently has a neutral rating on the stock.

Several other equities analysts have also recently issued reports on the company. UBS Group dropped their price target on Boston Beer from $390.00 to $355.00 and set a neutral rating on the stock in a research report on Wednesday, February 28th. Royal Bank of Canada restated a sector perform rating and set a $337.00 price target on shares of Boston Beer in a research note on Wednesday, February 28th. The Goldman Sachs Group lowered their price objective on shares of Boston Beer from $257.00 to $250.00 and set a sell rating on the stock in a research report on Tuesday, April 9th. Sanford C. Bernstein upgraded shares of Boston Beer from an underperform rating to a market perform rating and upped their price objective for the stock from $280.00 to $335.00 in a research report on Tuesday, January 16th. Finally, Roth Mkm lifted their target price on shares of Boston Beer from $406.00 to $422.00 and gave the company a buy rating in a report on Tuesday, January 23rd. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Hold and an average price target of $334.86.

Boston Beer Trading Up 0.7 %

SAM stock opened at $286.98 on Tuesday. The company has a market capitalization of $3.45 billion, a P/E ratio of 46.29, a PEG ratio of 1.14 and a beta of 1.02. The business has a 50 day simple moving average of $310.43 and a 200-day simple moving average of $336.40. Boston Beer has a twelve month low of $274.78 and a twelve month high of $395.52.

Boston Beer (NYSE:SAM) last issued its quarterly earnings results on Tuesday, February 27th. The company reported ($1.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($1.27). The business had revenue of $393.72 million for the quarter, compared to analyst estimates of $413.57 million. Boston Beer had a return on equity of 8.13% and a net margin of 3.61%. The firm’s revenue for the quarter was down 12.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.93) EPS. Research analysts predict that Boston Beer will post 9.98 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Carolyn L. O’boyle sold 101 shares of Boston Beer stock in a transaction on Monday, April 1st. The stock was sold at an average price of $303.49, for a total transaction of $30,652.49. Following the completion of the transaction, the insider now directly owns 7,029 shares of the company’s stock, valued at $2,133,231.21. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider Carolyn L. O’boyle sold 101 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $303.49, for a total value of $30,652.49. Following the sale, the insider now directly owns 7,029 shares of the company’s stock, valued at approximately $2,133,231.21. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Carolyn L. O’boyle sold 102 shares of Boston Beer stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $350.72, for a total transaction of $35,773.44. Following the transaction, the insider now owns 2,630 shares of the company’s stock, valued at approximately $922,393.60. The disclosure for this sale can be found here. Insiders own 23.30% of the company’s stock.

Institutional Investors Weigh In On Boston Beer

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. lifted its position in shares of Boston Beer by 2.0% in the first quarter. JPMorgan Chase & Co. now owns 16,610 shares of the company’s stock valued at $6,452,000 after acquiring an additional 333 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in Boston Beer by 64.3% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 1,778 shares of the company’s stock valued at $691,000 after purchasing an additional 696 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in Boston Beer by 3.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,961 shares of the company’s stock valued at $1,151,000 after purchasing an additional 95 shares in the last quarter. Bank of Montreal Can boosted its stake in shares of Boston Beer by 220.8% during the 1st quarter. Bank of Montreal Can now owns 6,080 shares of the company’s stock worth $2,414,000 after purchasing an additional 4,185 shares during the last quarter. Finally, MetLife Investment Management LLC grew its holdings in shares of Boston Beer by 42.6% during the first quarter. MetLife Investment Management LLC now owns 6,488 shares of the company’s stock worth $2,520,000 after buying an additional 1,938 shares in the last quarter. Hedge funds and other institutional investors 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.