The Boston Beer Company, Inc. (NYSE:SAM) Receives $326.92 Consensus PT from Analysts

Shares of The Boston Beer Company, Inc. (NYSE:SAM) have been given a consensus recommendation of “Hold” by the twelve research firms that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $326.92.

SAM has been the subject of several analyst reports. Royal Bank of Canada lowered their target price on Boston Beer from $332.00 to $318.00 and set a “sector perform” rating for the company in a research report on Friday, July 26th. Deutsche Bank Aktiengesellschaft lifted their price objective on Boston Beer from $273.00 to $283.00 and gave the stock a “hold” rating in a research note on Wednesday, July 17th. StockNews.com lowered shares of Boston Beer from a “buy” rating to a “hold” rating in a report on Wednesday, June 12th. Morgan Stanley raised shares of Boston Beer from an “underweight” rating to an “equal weight” rating and set a $290.00 price objective on the stock in a research note on Wednesday, June 5th. Finally, Piper Sandler lowered their target price on shares of Boston Beer from $344.00 to $325.00 and set an “overweight” rating for the company in a research note on Friday, July 26th.

Hedge Funds Weigh In On Boston Beer

Several institutional investors have recently made changes to their positions in SAM. Vanguard Group Inc. increased its position in Boston Beer by 2.3% in the 4th quarter. Vanguard Group Inc. now owns 918,502 shares of the company’s stock valued at $317,425,000 after buying an additional 21,060 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Boston Beer by 17.0% in the second quarter. Dimensional Fund Advisors LP now owns 182,972 shares of the company’s stock worth $55,814,000 after acquiring an additional 26,538 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Boston Beer by 8.1% in the second quarter. Bank of New York Mellon Corp now owns 133,486 shares of the company’s stock valued at $40,720,000 after acquiring an additional 9,997 shares during the period. D. E. Shaw & Co. Inc. increased its holdings in shares of Boston Beer by 80.0% during the second quarter. D. E. Shaw & Co. Inc. now owns 114,736 shares of the company’s stock valued at $35,000,000 after acquiring an additional 51,003 shares in the last quarter. Finally, Armistice Capital LLC raised its position in shares of Boston Beer by 1.1% during the second quarter. Armistice Capital LLC now owns 97,292 shares of the company’s stock worth $29,679,000 after purchasing an additional 1,093 shares during the period. Institutional investors and hedge funds own 81.13% of the company’s stock.

Boston Beer Trading Up 2.4 %

Boston Beer stock opened at $283.50 on Wednesday. The stock has a 50-day moving average price of $275.42 and a two-hundred day moving average price of $283.98. Boston Beer has a 12 month low of $254.40 and a 12 month high of $395.52. The company has a market capitalization of $3.39 billion, a PE ratio of 35.57, a P/E/G ratio of 1.13 and a beta of 1.05.

Boston Beer (NYSE:SAM) last posted its earnings results on Thursday, July 25th. The company reported $4.39 EPS for the quarter, missing the consensus estimate of $4.99 by ($0.60). The business had revenue of $579.10 million for the quarter, compared to analyst estimates of $597.33 million. Boston Beer had a return on equity of 9.69% and a net margin of 4.39%. The firm’s quarterly revenue was down 4.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.72 earnings per share. As a group, analysts predict that Boston Beer will post 9.65 earnings per share for the current fiscal year.

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.