Boston Beer (NYSE:SAM) Given New $330.00 Price Target at Piper Sandler

Boston Beer (NYSE:SAM) had its price target boosted by Piper Sandler from $325.00 to $330.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other research analysts have also recently issued reports on SAM. Royal Bank of Canada decreased their price target on shares of Boston Beer from $332.00 to $318.00 and set a “sector perform” rating for the company in a report on Friday, July 26th. Jefferies Financial Group cut Boston Beer from a “buy” rating to a “hold” rating and lowered their price target for the stock from $355.00 to $325.00 in a research report on Friday. Roth Mkm reissued a “buy” rating and issued a $389.00 price objective on shares of Boston Beer in a report on Wednesday. UBS Group lifted their target price on Boston Beer from $300.00 to $309.00 in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of Boston Beer from $281.00 to $277.00 and set a “hold” rating on the stock in a report on Thursday. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $314.82.

Boston Beer Trading Down 2.0 %

Shares of SAM traded down $5.92 during midday trading on Friday, hitting $295.96. 341,052 shares of the company’s stock traded hands, compared to its average volume of 159,857. Boston Beer has a 1 year low of $254.40 and a 1 year high of $372.61. The firm’s fifty day moving average is $279.71 and its 200-day moving average is $282.30. The stock has a market capitalization of $3.47 billion, a price-to-earnings ratio of 38.74, a price-to-earnings-growth ratio of 1.23 and a beta of 1.06.

Boston Beer (NYSE:SAM) last posted its quarterly earnings data on Thursday, July 25th. The company reported $4.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.99 by ($0.60). The company had revenue of $579.10 million for the quarter, compared to analyst estimates of $597.33 million. Boston Beer had a net margin of 4.39% and a return on equity of 9.69%. The business’s revenue was down 4.0% compared to the same quarter last year. During the same quarter last year, the company earned $4.72 EPS. On average, equities research analysts anticipate that Boston Beer will post 9.63 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Boston Beer by 2.3% during the 4th quarter. Vanguard Group Inc. now owns 918,502 shares of the company’s stock worth $317,425,000 after purchasing an additional 21,060 shares during the last quarter. Foguth Wealth Management LLC. purchased a new position in shares of Boston Beer in the first quarter valued at approximately $243,000. Principal Financial Group Inc. boosted its stake in shares of Boston Beer by 1.8% in the first quarter. Principal Financial Group Inc. now owns 35,580 shares of the company’s stock worth $10,831,000 after acquiring an additional 645 shares during the last quarter. Summit Place Financial Advisors LLC increased its position in shares of Boston Beer by 74.0% during the first quarter. Summit Place Financial Advisors LLC now owns 2,751 shares of the company’s stock worth $837,000 after purchasing an additional 1,170 shares in the last quarter. Finally, Van ECK Associates Corp raised its stake in Boston Beer by 58.0% in the 1st quarter. Van ECK Associates Corp now owns 12,901 shares of the company’s stock valued at $3,927,000 after purchasing an additional 4,735 shares during the last quarter. 81.13% of the stock is 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.