Brokerages Set The Boston Beer Company, Inc. (NYSE:SAM) Price Target at $314.82

The Boston Beer Company, Inc. (NYSE:SAM) has earned an average rating of “Hold” from the eleven ratings firms that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $314.82.

Several equities research analysts recently weighed in on SAM shares. UBS Group increased their price target on Boston Beer from $300.00 to $309.00 in a report on Thursday, October 24th. Jefferies Financial Group downgraded Boston Beer from a “buy” rating to a “hold” rating and reduced their target price for the company from $355.00 to $325.00 in a report on Friday, October 25th. Piper Sandler raised their target price on Boston Beer from $325.00 to $330.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Roth Mkm reissued a “buy” rating and issued a $389.00 target price on shares of Boston Beer in a report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on Boston Beer from $281.00 to $277.00 and set a “hold” rating for the company in a report on Thursday, October 24th.

Boston Beer Price Performance

Shares of NYSE SAM opened at $310.78 on Thursday. The stock has a fifty day moving average price of $288.90 and a 200 day moving average price of $284.74. Boston Beer has a 1-year low of $254.40 and a 1-year high of $371.65. The company has a market cap of $3.57 billion, a PE ratio of 45.70, a P/E/G ratio of 1.22 and a beta of 1.06.

Institutional Trading of Boston Beer

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Street Corp increased its position in Boston Beer by 7.8% during the 3rd quarter. State Street Corp now owns 292,643 shares of the company’s stock worth $84,615,000 after purchasing an additional 21,276 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Boston Beer by 17.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 182,972 shares of the company’s stock worth $55,814,000 after purchasing an additional 26,538 shares in the last quarter. Bank of New York Mellon Corp increased its position in Boston Beer by 8.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 133,486 shares of the company’s stock worth $40,720,000 after purchasing an additional 9,997 shares in the last quarter. D. E. Shaw & Co. Inc. increased its position in Boston Beer by 80.0% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 114,736 shares of the company’s stock worth $35,000,000 after purchasing an additional 51,003 shares in the last quarter. Finally, Armistice Capital LLC increased its position in Boston Beer by 1.1% during the 2nd 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 in the last quarter. Hedge funds and other institutional investors 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.