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

Boston Beer (NYSE:SAM) had its price objective lowered by Citigroup from $350.00 to $315.00 in a research report released on Tuesday morning, Benzinga reports. The firm currently has a neutral rating on the stock.

Other research analysts also recently issued research reports about the company. Royal Bank of Canada restated a sector perform rating and set a $337.00 price target on shares of Boston Beer in a research note on Wednesday, February 28th. Roth Mkm raised their price target on Boston Beer from $406.00 to $422.00 and gave the stock a buy rating in a research note on Tuesday, January 23rd. UBS Group decreased their price objective on Boston Beer from $390.00 to $355.00 and set a neutral rating for the company in a research report on Wednesday, February 28th. The Goldman Sachs Group decreased their price objective on Boston Beer from $257.00 to $250.00 and set a sell rating for the company in a research report on Tuesday, April 9th. Finally, Piper Sandler initiated coverage on Boston Beer in a research 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 given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Hold and an average price target of $334.86.

Boston Beer Stock Performance

SAM opened at $284.87 on Tuesday. Boston Beer has a one year low of $274.78 and a one year high of $395.52. The company has a market cap of $3.42 billion, a P/E ratio of 45.95, a PEG ratio of 1.12 and a beta of 1.02. The business’s 50-day simple moving average is $311.70 and its 200-day simple moving average is $337.14.

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

Insider Activity

In other news, insider Carolyn L. O’boyle sold 101 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $303.49, for a total value of $30,652.49. Following the completion of the sale, the insider now directly owns 7,029 shares of the company’s stock, valued at approximately $2,133,231.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Carolyn L. O’boyle sold 102 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $350.72, for a total value of $35,773.44. Following the completion of the transaction, the insider now directly owns 2,630 shares of the company’s stock, valued at approximately $922,393.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Carolyn L. O’boyle sold 101 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $303.49, for a total value of $30,652.49. Following the completion of the transaction, the insider now directly owns 7,029 shares of the company’s stock, valued at $2,133,231.21. The disclosure for this sale can be found here. Insiders own 23.30% of the company’s stock.

Hedge Funds Weigh In On Boston Beer

Hedge funds have recently bought and sold shares of the company. Covestor Ltd increased its stake in Boston Beer by 88.4% in the 3rd quarter. Covestor Ltd now owns 81 shares of the company’s stock valued at $32,000 after purchasing an additional 38 shares in the last quarter. Main Street Group LTD purchased a new position in Boston Beer in the 4th quarter valued at approximately $35,000. Eagle Bay Advisors LLC purchased a new position in Boston Beer in the 2nd quarter valued at approximately $32,000. Quarry LP purchased a new position in Boston Beer in the 4th quarter valued at approximately $42,000. Finally, KBC Group NV purchased a new position in Boston Beer in the 4th quarter valued at approximately $46,000. 81.13% of the stock is owned by hedge funds and other 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.