Boston Beer (NYSE:SAM) Given New $240.00 Price Target at Piper Sandler

Boston Beer (NYSE:SAM) had its price target reduced by Piper Sandler from $275.00 to $240.00 in a research report released on Wednesday morning,Benzinga reports. They currently have a neutral rating on the stock.

Other equities research analysts also recently issued reports about the company. Roth Mkm reaffirmed a “buy” rating and set a $349.00 price objective (down from $389.00) on shares of Boston Beer in a report on Wednesday. Morgan Stanley reduced their target price on Boston Beer from $290.00 to $270.00 and set an “equal weight” rating on the stock in a report on Wednesday. Needham & Company LLC started coverage on Boston Beer in a report on Friday, December 6th. They issued a “hold” rating on the stock. Citigroup reduced their target price on Boston Beer from $335.00 to $290.00 and set a “neutral” rating on the stock in a report on Wednesday, January 15th. Finally, UBS Group reduced their target price on Boston Beer from $315.00 to $290.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $293.40.

Boston Beer Trading Up 2.8 %

NYSE SAM opened at $240.91 on Wednesday. The stock’s 50 day moving average is $259.81 and its two-hundred day moving average is $280.78. The company has a market capitalization of $2.77 billion, a price-to-earnings ratio of 35.43, a PEG ratio of 1.23 and a beta of 1.06. Boston Beer has a 1-year low of $222.27 and a 1-year high of $371.65.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SAM. Norges Bank acquired a new position in Boston Beer during the 4th quarter worth $30,741,000. J. Goldman & Co LP lifted its holdings in Boston Beer by 251.8% during the 4th quarter. J. Goldman & Co LP now owns 119,687 shares of the company’s stock worth $35,904,000 after buying an additional 85,669 shares in the last quarter. Cooper Creek Partners Management LLC acquired a new position in Boston Beer during the 4th quarter worth $25,054,000. Global Alpha Capital Management Ltd. acquired a new position in Boston Beer during the 4th quarter worth $23,349,000. Finally, Freestone Grove Partners LP acquired a new position in Boston Beer during the 4th quarter worth $21,412,000. 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.