Boston Beer (NYSE:SAM) Hits New 12-Month Low – What’s Next?

The Boston Beer Company, Inc. (NYSE:SAM) reached a new 52-week low on Monday . The company traded as low as $236.65 and last traded at $236.59, with a volume of 8422 shares changing hands. The stock had previously closed at $239.35.

Analyst Ratings Changes

Several equities analysts have recently commented on SAM shares. Roth Mkm reaffirmed a “buy” rating and set a $389.00 price objective on shares of Boston Beer in a research note on Wednesday, October 23rd. Citigroup reduced their price target on shares of Boston Beer from $335.00 to $290.00 and set a “neutral” rating for the company in a research report on Wednesday, January 15th. Needham & Company LLC began coverage on Boston Beer in a research note on Friday, December 6th. They issued a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Boston Beer from $281.00 to $277.00 and set a “hold” rating on the stock in a research note on Thursday, October 24th. Finally, UBS Group decreased their price objective on shares of Boston Beer from $315.00 to $290.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $302.90.

Boston Beer Trading Down 0.5 %

The firm’s fifty day moving average is $278.11 and its 200-day moving average is $284.19. The stock has a market capitalization of $2.66 billion, a PE ratio of 34.18, a price-to-earnings-growth ratio of 0.78 and a beta of 1.06.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Blue Trust Inc. raised 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 purchasing an additional 73 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in Boston Beer by 2,225.0% in 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. First Horizon Advisors Inc. raised its stake in shares of Boston Beer by 105.1% during the third quarter. First Horizon Advisors Inc. now owns 121 shares of the company’s stock valued at $35,000 after purchasing an additional 62 shares during the period. Covestor Ltd boosted its position in Boston Beer by 36.6% in the 3rd quarter. Covestor Ltd now owns 127 shares of the company’s stock valued at $37,000 after buying an additional 34 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Boston Beer by 59.3% in the fourth quarter. GAMMA Investing LLC now owns 129 shares of the company’s stock worth $39,000 after buying an additional 48 shares during the last quarter. Hedge funds and other institutional investors own 81.13% of the company’s stock.

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.