Boston Beer (NYSE:SAM) Reaches New 12-Month Low – Time to Sell?

The Boston Beer Company, Inc. (NYSE:SAM) reached a new 52-week low on Wednesday . The stock traded as low as $221.50 and last traded at $221.64, with a volume of 165728 shares trading hands. The stock had previously closed at $228.19.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on SAM. UBS Group decreased their target price on Boston Beer from $315.00 to $290.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Roth Mkm restated a “buy” rating and issued a $349.00 target price (down from $389.00) on shares of Boston Beer in a research note on Wednesday, February 26th. StockNews.com cut Boston Beer from a “buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Morgan Stanley lowered their price target on shares of Boston Beer from $290.00 to $270.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 26th. Finally, Piper Sandler reduced their price objective on shares of Boston Beer from $275.00 to $240.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $292.40.

Boston Beer Stock Up 3.8 %

The stock has a market capitalization of $2.56 billion, a price-to-earnings ratio of 33.47, a price-to-earnings-growth ratio of 1.23 and a beta of 1.14. The stock’s 50-day simple moving average is $240.10 and its 200 day simple moving average is $275.95.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC raised its position in Boston Beer by 59.3% in the 4th quarter. GAMMA Investing LLC now owns 129 shares of the company’s stock valued at $39,000 after purchasing an additional 48 shares during the last quarter. Lazard Asset Management LLC increased its stake in shares of Boston Beer by 10.3% in the fourth quarter. Lazard Asset Management LLC now owns 515 shares of the company’s stock valued at $153,000 after buying an additional 48 shares in the last quarter. First Horizon Advisors Inc. raised its holdings in shares of Boston Beer by 42.1% in the fourth quarter. First Horizon Advisors Inc. now owns 172 shares of the company’s stock valued at $52,000 after buying an additional 51 shares during the last quarter. Cetera Investment Advisers lifted its position in Boston Beer by 4.6% during the 4th quarter. Cetera Investment Advisers now owns 1,269 shares of the company’s stock worth $381,000 after buying an additional 56 shares in the last quarter. Finally, Exchange Traded Concepts LLC grew its holdings in Boston Beer by 2.5% during the 4th quarter. Exchange Traded Concepts LLC now owns 2,630 shares of the company’s stock worth $789,000 after acquiring an additional 65 shares during the last quarter. 81.13% of the stock is owned by institutional investors and hedge funds.

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.