Brokerages Set The Boston Beer Company, Inc. (NYSE:SAM) PT at $302.90

The Boston Beer Company, Inc. (NYSE:SAM) has received an average recommendation of “Hold” from the eleven analysts that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $293.40.

Several analysts have issued reports on the stock. Piper Sandler decreased their price target on shares of Boston Beer from $275.00 to $240.00 and set a “neutral” rating on the stock in a research report on Wednesday. Citigroup decreased their target price on Boston Beer from $335.00 to $290.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 15th. Needham & Company LLC assumed coverage on Boston Beer in a report on Friday, December 6th. They issued a “hold” rating for the company. StockNews.com upgraded Boston Beer from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, UBS Group lowered their price objective on Boston Beer from $315.00 to $290.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th.

Boston Beer Trading Up 2.8 %

Shares of Boston Beer stock opened at $240.91 on Friday. Boston Beer has a 1 year low of $222.27 and a 1 year high of $371.65. The company’s fifty day simple moving average is $259.81 and its 200-day simple moving average is $280.78. The company has a market cap of $2.77 billion, a price-to-earnings ratio of 35.43, a PEG ratio of 1.23 and a beta of 1.06.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. T. Rowe Price Investment Management Inc. grew its holdings in shares of Boston Beer by 4.4% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 703,480 shares of the company’s stock worth $211,030,000 after purchasing an additional 29,412 shares during the last quarter. AQR Capital Management LLC boosted its position in Boston Beer by 19.8% in the fourth quarter. AQR Capital Management LLC now owns 422,217 shares of the company’s stock valued at $125,821,000 after buying an additional 69,778 shares in the last quarter. State Street Corp grew its stake in Boston Beer by 7.8% during the third quarter. State Street Corp now owns 292,643 shares of the company’s stock worth $84,615,000 after buying an additional 21,276 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Boston Beer by 9.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 225,762 shares of the company’s stock worth $67,723,000 after buying an additional 19,063 shares in the last quarter. Finally, Fisher Asset Management LLC raised its stake in shares of Boston Beer by 27.1% in the fourth quarter. Fisher Asset Management LLC now owns 160,419 shares of the company’s stock valued at $48,122,000 after acquiring an additional 34,176 shares during the last quarter. 81.13% of the stock is currently owned by institutional investors and hedge funds.

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.