Boston Beer (NYSE:SAM) Given “Buy” Rating at Roth Mkm

Roth Mkm reaffirmed their buy rating on shares of Boston Beer (NYSE:SAM) in a report published on Wednesday morning,Benzinga reports. Roth Mkm currently has a $349.00 price objective on the stock, down from their previous price objective of $389.00.

A number of other equities analysts have also recently issued reports on the stock. Needham & Company LLC initiated coverage on shares of Boston Beer in a report on Friday, December 6th. They issued a “hold” rating on the stock. Piper Sandler cut shares of Boston Beer from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $370.00 to $275.00 in a report on Thursday, January 23rd. Morgan Stanley cut their target price 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. UBS Group cut their target price on shares of Boston Beer from $315.00 to $290.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Finally, StockNews.com raised shares of Boston Beer from a “hold” rating to a “buy” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $293.40.

Boston Beer Stock Performance

Shares of SAM stock opened at $243.80 on Wednesday. Boston Beer has a one year low of $222.27 and a one year high of $339.77. The company’s 50-day simple moving average is $257.33 and its 200-day simple moving average is $280.37. The stock has a market capitalization of $2.80 billion, a price-to-earnings ratio of 35.85, a PEG ratio of 1.23 and a beta of 1.06.

Institutional Investors Weigh In On Boston Beer

Several large investors have recently made changes to their positions in SAM. Creative Planning increased its stake in shares of Boston Beer by 6.5% in the third quarter. Creative Planning now owns 2,540 shares of the company’s stock valued at $734,000 after purchasing an additional 155 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in shares of Boston Beer by 389.2% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 5,714 shares of the company’s stock valued at $1,652,000 after acquiring an additional 4,546 shares during the period. Pallas Capital Advisors LLC increased its stake in shares of Boston Beer by 323.5% during the third quarter. Pallas Capital Advisors LLC now owns 3,261 shares of the company’s stock valued at $984,000 after acquiring an additional 2,491 shares during the period. Kornitzer Capital Management Inc. KS increased its stake in shares of Boston Beer by 3.4% during the third quarter. Kornitzer Capital Management Inc. KS now owns 3,968 shares of the company’s stock valued at $1,147,000 after acquiring an additional 129 shares during the period. Finally, Capital Performance Advisors LLP acquired a new position in shares of Boston Beer during the third quarter valued at approximately $138,000. Institutional investors and hedge funds 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.