Boston Beer (NYSE:SAM) PT Lowered to $315.00

Boston Beer (NYSE:SAM) had its target price dropped by equities research analysts at Citigroup from $350.00 to $315.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Citigroup’s price objective would suggest a potential upside of 12.37% from the company’s current price.

A number of other research firms have also issued reports on SAM. The Goldman Sachs Group reduced their target price on Boston Beer from $257.00 to $250.00 and set a “sell” rating on the stock in a research note on Tuesday, April 9th. Morgan Stanley dropped their price objective on Boston Beer from $285.00 to $275.00 and set an “underweight” rating for the company in a report on Wednesday, February 28th. Royal Bank of Canada restated a “sector perform” rating and set a $337.00 price objective on shares of Boston Beer in a report on Wednesday, February 28th. Roth Mkm upped their price objective on Boston Beer from $406.00 to $422.00 and gave the stock a “buy” rating in a report on Tuesday, January 23rd. Finally, Piper Sandler began coverage on Boston Beer in a report on Friday, March 22nd. They set an “overweight” rating and a $350.00 price objective for the company. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $334.86.

Boston Beer Stock Up 2.0 %

NYSE SAM opened at $280.34 on Tuesday. Boston Beer has a 52-week low of $274.78 and a 52-week high of $395.52. The business’s 50-day moving average price is $313.04 and its 200 day moving average price is $337.51. The firm has a market cap of $3.37 billion, a P/E ratio of 45.22, a P/E/G ratio of 1.01 and a beta of 1.02.

Boston Beer (NYSE:SAM) last released its earnings results on Tuesday, February 27th. The company reported ($1.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($1.27). Boston Beer had a return on equity of 8.13% and a net margin of 3.61%. The business had revenue of $393.72 million for the quarter, compared to analyst estimates of $413.57 million. During the same quarter in the previous year, the firm posted ($0.93) EPS. The business’s revenue for the quarter was down 12.0% on a year-over-year basis. As a group, analysts anticipate that Boston Beer will post 9.98 earnings per share for the current year.

Insider Transactions at Boston Beer

In related news, insider Carolyn L. O’boyle sold 101 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $303.49, for a total transaction of $30,652.49. Following the sale, the insider now owns 7,029 shares of the company’s stock, valued at approximately $2,133,231.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Carolyn L. O’boyle sold 101 shares of Boston Beer stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $303.49, for a total value of $30,652.49. Following the sale, the insider now owns 7,029 shares of the company’s stock, valued at $2,133,231.21. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Carolyn L. O’boyle sold 102 shares of Boston Beer stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $350.72, for a total value of $35,773.44. Following the completion of the sale, the insider now directly owns 2,630 shares in the company, valued at approximately $922,393.60. The disclosure for this sale can be found here. 24.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Boston Beer

Several institutional investors have recently made changes to their positions in the stock. Commonwealth Equity Services LLC increased its holdings in shares of Boston Beer by 2.5% during the third quarter. Commonwealth Equity Services LLC now owns 1,201 shares of the company’s stock worth $388,000 after buying an additional 29 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its holdings in shares of Boston Beer by 5.7% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 609 shares of the company’s stock worth $210,000 after buying an additional 33 shares in the last quarter. Arizona State Retirement System increased its holdings in shares of Boston Beer by 1.2% during the third quarter. Arizona State Retirement System now owns 2,759 shares of the company’s stock worth $1,075,000 after buying an additional 34 shares in the last quarter. CWM LLC grew its stake in shares of Boston Beer by 17.6% in the fourth quarter. CWM LLC now owns 227 shares of the company’s stock worth $78,000 after purchasing an additional 34 shares during the last quarter. Finally, Captrust Financial Advisors grew its stake in shares of Boston Beer by 5.3% in the second quarter. Captrust Financial Advisors now owns 679 shares of the company’s stock worth $209,000 after purchasing an additional 34 shares during 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.