Boston Beer (NYSE:SAM) Hits New 52-Week Low – Here’s Why

The Boston Beer Company, Inc. (NYSE:SAM)’s share price reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $247.40 and last traded at $247.41, with a volume of 1668 shares traded. The stock had previously closed at $250.19.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. UBS Group cut their price target 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. Piper Sandler cut shares of Boston Beer from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $370.00 to $275.00 in a research report on Thursday. Roth Mkm restated a “buy” rating and issued a $389.00 price objective on shares of Boston Beer in a research report on Wednesday, October 23rd. 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, Needham & Company LLC started coverage on Boston Beer in a report on Friday, December 6th. They issued a “hold” rating for the company. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $302.90.

Boston Beer Trading Down 1.6 %

The stock has a market cap of $2.83 billion, a P/E ratio of 36.21, a PEG ratio of 0.80 and a beta of 1.08. The company has a 50 day simple moving average of $297.14 and a 200 day simple moving average of $287.83.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. KBC Group NV boosted its stake in shares of Boston Beer by 38.9% during the 4th quarter. KBC Group NV now owns 418 shares of the company’s stock worth $125,000 after buying an additional 117 shares during the last quarter. Blue Trust Inc. boosted its position in Boston Beer by 405.6% during the fourth quarter. Blue Trust Inc. now owns 91 shares of the company’s stock valued at $26,000 after purchasing an additional 73 shares during the last quarter. Exchange Traded Concepts LLC grew its stake in Boston Beer by 2.5% in the fourth quarter. Exchange Traded Concepts LLC now owns 2,630 shares of the company’s stock valued at $789,000 after purchasing an additional 65 shares in the last quarter. Aaron Wealth Advisors LLC raised its stake in shares of Boston Beer by 12.0% during the 4th quarter. Aaron Wealth Advisors LLC now owns 1,273 shares of the company’s stock worth $382,000 after purchasing an additional 136 shares in the last quarter. Finally, Kera Capital Partners Inc. acquired a new stake in shares of Boston Beer in the 4th quarter valued at approximately $256,000. 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.