Brokerages Set The Boston Beer Company, Inc. (NYSE:SAM) Target Price at $314.82

Shares of The Boston Beer Company, Inc. (NYSE:SAM) have been given an average recommendation of “Hold” by the twelve analysts that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, nine have given a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $314.82.

A number of equities analysts have weighed in on the company. StockNews.com raised Boston Beer from a “hold” rating to a “buy” rating in a research report on Tuesday. Piper Sandler increased their target price on shares of Boston Beer from $325.00 to $330.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Boston Beer from $281.00 to $277.00 and set a “hold” rating for the company in a research report on Thursday, October 24th. Jefferies Financial Group downgraded shares of Boston Beer from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $355.00 to $325.00 in a research note on Friday, October 25th. Finally, UBS Group raised their price objective on Boston Beer from $300.00 to $309.00 in a report on Thursday, October 24th.

Boston Beer Price Performance

Shares of Boston Beer stock opened at $275.81 on Friday. The firm has a market cap of $3.17 billion, a price-to-earnings ratio of 40.56, a price-to-earnings-growth ratio of 1.21 and a beta of 1.08. Boston Beer has a one year low of $254.40 and a one year high of $371.65. The stock’s 50-day moving average is $306.53 and its 200-day moving average is $290.74.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. First Horizon Advisors Inc. raised its stake in Boston Beer by 105.1% in the 3rd quarter. First Horizon Advisors Inc. now owns 121 shares of the company’s stock valued at $35,000 after acquiring an additional 62 shares during the period. Covestor Ltd raised its position in shares of Boston Beer by 36.6% in the third quarter. Covestor Ltd now owns 127 shares of the company’s stock valued at $37,000 after purchasing an additional 34 shares during the period. GAMMA Investing LLC lifted its stake in shares of Boston Beer by 59.3% during the 4th quarter. GAMMA Investing LLC now owns 129 shares of the company’s stock worth $39,000 after buying an additional 48 shares during the last quarter. True Wealth Design LLC bought a new stake in shares of Boston Beer during the 3rd quarter worth about $47,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Boston Beer in the 3rd quarter valued at about $49,000. 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.