Boston Beer (NYSE:SAM) Cut to Hold at StockNews.com

StockNews.com downgraded shares of Boston Beer (NYSE:SAM) from a buy rating to a hold rating in a research report released on Wednesday.

Other analysts also recently issued reports about the company. Jefferies Financial Group downgraded Boston Beer from a “buy” rating to a “hold” rating and cut their target price for the stock from $355.00 to $325.00 in a research note on Friday, October 25th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Boston Beer from $281.00 to $277.00 and set a “hold” rating for the company in a report on Thursday, October 24th. Piper Sandler lifted their target price on shares of Boston Beer from $325.00 to $330.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Royal Bank of Canada reissued a “sector perform” rating and issued a $318.00 price target on shares of Boston Beer in a research note on Friday, October 25th. Finally, UBS Group raised their price target on shares of Boston Beer from $300.00 to $309.00 in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $308.40.

Boston Beer Price Performance

Shares of Boston Beer stock opened at $251.90 on Wednesday. The stock’s 50 day simple moving average is $301.14 and its 200-day simple moving average is $288.84. The stock has a market cap of $2.89 billion, a P/E ratio of 37.04, a P/E/G ratio of 0.81 and a beta of 1.08. Boston Beer has a 1-year low of $249.21 and a 1-year high of $371.65.

Institutional Trading of Boston Beer

Several institutional investors have recently added to or reduced their stakes in SAM. DekaBank Deutsche Girozentrale raised its holdings in shares of Boston Beer by 61.3% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 250 shares of the company’s stock valued at $75,000 after buying an additional 95 shares during the period. Thoroughbred Financial Services LLC acquired a new position in Boston Beer in the 2nd quarter valued at about $228,000. Oppenheimer Asset Management Inc. increased its stake in Boston Beer by 18.7% during the second quarter. Oppenheimer Asset Management Inc. now owns 4,933 shares of the company’s stock worth $1,505,000 after purchasing an additional 778 shares during the period. Dimensional Fund Advisors LP increased its stake in Boston Beer by 17.0% during the second 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 during the period. Finally, Edgestream Partners L.P. acquired a new stake in shares of Boston Beer during the second quarter worth about $301,000. Institutional investors and hedge funds own 81.13% of the company’s stock.

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.