Boston Beer (NYSE:SAM) Shares Gap Up – Here’s What Happened

The Boston Beer Company, Inc. (NYSE:SAM)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $219.16, but opened at $226.74. Boston Beer shares last traded at $228.14, with a volume of 32,491 shares changing hands.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Morgan Stanley lowered their target price on Boston Beer from $290.00 to $270.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 26th. 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. Piper Sandler cut their price target on Boston Beer from $275.00 to $240.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 26th. Citigroup raised Boston Beer from a “neutral” rating to a “buy” rating and upped their price target for the company from $265.00 to $280.00 in a research note on Thursday. Finally, StockNews.com lowered Boston Beer from a “buy” rating to a “hold” rating in a research note on Wednesday, March 5th. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Boston Beer presently has a consensus rating of “Hold” and an average target price of $292.40.

Boston Beer Stock Up 3.6 %

The company has a fifty day simple moving average of $241.07 and a two-hundred day simple moving average of $276.29. The stock has a market capitalization of $2.55 billion, a P/E ratio of 33.38, a price-to-earnings-growth ratio of 1.23 and a beta of 1.14.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SAM. Claro Advisors LLC bought a new position in Boston Beer during the third quarter worth about $268,000. Quest Partners LLC bought a new position in Boston Beer during the 3rd quarter worth about $339,000. First Horizon Advisors Inc. increased its holdings in Boston Beer by 105.1% during the 3rd quarter. First Horizon Advisors Inc. now owns 121 shares of the company’s stock worth $35,000 after purchasing an additional 62 shares in the last quarter. Landscape Capital Management L.L.C. bought a new position in Boston Beer during the 3rd quarter worth about $317,000. Finally, Great Valley Advisor Group Inc. increased its holdings in Boston Beer by 8.5% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 867 shares of the company’s stock worth $251,000 after purchasing an additional 68 shares in the last quarter. 81.13% of the stock is currently owned by institutional investors.

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.