The Boston Beer Company, Inc. (NYSE:SAM) Receives Consensus Recommendation of “Hold” from Brokerages

The Boston Beer Company, Inc. (NYSE:SAM) has been given a consensus rating of “Hold” by the eleven brokerages that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $314.82.

Several analysts have weighed in on SAM shares. Piper Sandler boosted their target price on shares of Boston Beer from $325.00 to $330.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $318.00 price objective on shares of Boston Beer in a research report on Friday, October 25th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Boston Beer from $281.00 to $277.00 and set a “hold” rating on the stock in a report on Thursday, October 24th. UBS Group lifted their target price on Boston Beer from $300.00 to $309.00 in a research note on Thursday, October 24th. Finally, Jefferies Financial Group cut Boston Beer from a “buy” rating to a “hold” rating and dropped their price target for the stock from $355.00 to $325.00 in a research report on Friday, October 25th.

Boston Beer Trading Up 2.1 %

Shares of NYSE SAM opened at $324.10 on Thursday. The company has a market capitalization of $3.72 billion, a price-to-earnings ratio of 47.66, a price-to-earnings-growth ratio of 1.22 and a beta of 1.06. Boston Beer has a twelve month low of $254.40 and a twelve month high of $371.65. The business has a 50 day simple moving average of $286.72 and a 200-day simple moving average of $283.93.

Hedge Funds Weigh In On Boston Beer

Several hedge funds and other institutional investors have recently modified their holdings of SAM. Mesirow Institutional Investment Management Inc. acquired a new stake in Boston Beer in the second quarter worth about $16,014,000. D. E. Shaw & Co. Inc. lifted its holdings in Boston Beer by 80.0% in the second quarter. D. E. Shaw & Co. Inc. now owns 114,736 shares of the company’s stock worth $35,000,000 after purchasing an additional 51,003 shares during the period. Jane Street Group LLC lifted its holdings in Boston Beer by 171.8% in the first quarter. Jane Street Group LLC now owns 15,876 shares of the company’s stock worth $4,833,000 after purchasing an additional 37,985 shares during the period. Assenagon Asset Management S.A. lifted its holdings in Boston Beer by 190.6% in the second quarter. Assenagon Asset Management S.A. now owns 46,659 shares of the company’s stock worth $14,233,000 after purchasing an additional 30,601 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in Boston Beer by 17.0% in the second quarter. Dimensional Fund Advisors LP now owns 182,972 shares of the company’s stock worth $55,814,000 after purchasing an additional 26,538 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.