Boston Beer (NYSE:SAM) Price Target Cut to $315.00 by Analysts at Citigroup

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

Other equities analysts have also issued reports about the stock. Roth Mkm raised their price target on shares of Boston Beer from $406.00 to $422.00 and gave the stock a buy rating in a research report on Tuesday, January 23rd. Morgan Stanley lowered their price target on shares of Boston Beer from $285.00 to $275.00 and set an underweight rating on the stock in a research report on Wednesday, February 28th. Royal Bank of Canada reaffirmed a sector perform rating and set a $337.00 price target on shares of Boston Beer in a research report on Wednesday, February 28th. The Goldman Sachs Group lowered their price target on shares of Boston Beer from $257.00 to $250.00 and set a sell rating on the stock in a research report on Tuesday, April 9th. Finally, Sanford C. Bernstein raised shares of Boston Beer from an underperform rating to a market perform rating and raised their price target for the stock from $280.00 to $335.00 in a research report on Tuesday, January 16th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Hold and a consensus price target of $334.86.

Boston Beer Price Performance

Shares of SAM stock opened at $274.76 on Tuesday. The stock has a market cap of $3.30 billion, a P/E ratio of 44.32, a P/E/G ratio of 1.03 and a beta of 1.02. The company has a fifty day moving average price of $314.49 and a two-hundred day moving average price of $337.91. Boston Beer has a one year low of $274.78 and a one year high of $395.52.

Boston Beer (NYSE:SAM) last posted its 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 company had revenue of $393.72 million for the quarter, compared to analyst estimates of $413.57 million. Boston Beer had a return on equity of 8.13% and a net margin of 3.61%. The business’s quarterly revenue was down 12.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.93) EPS. As a group, equities research analysts anticipate that Boston Beer will post 9.98 EPS 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 shares were sold at an average price of $303.49, for a total value of $30,652.49. Following the sale, the insider now directly owns 7,029 shares in the company, valued at approximately $2,133,231.21. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Carolyn L. O’boyle sold 101 shares of Boston Beer stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $303.49, for a total transaction of $30,652.49. Following the sale, the insider now directly owns 7,029 shares in the company, valued at approximately $2,133,231.21. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Carolyn L. O’boyle sold 102 shares of Boston Beer stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $350.72, for a total transaction of $35,773.44. Following the sale, the insider now owns 2,630 shares in the company, valued at $922,393.60. The disclosure for this sale can be found here. 24.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Boston Beer

Several hedge funds have recently added to or reduced their stakes in the business. Cardinal Capital Management boosted its position in Boston Beer by 45.5% during the 1st quarter. Cardinal Capital Management now owns 4,051 shares of the company’s stock worth $1,233,000 after buying an additional 1,267 shares during the period. Diversified Investment Strategies LLC acquired a new position in shares of Boston Beer in the 1st quarter worth approximately $499,000. Partnership Wealth Management LLC lifted its position in shares of Boston Beer by 40.0% in the 1st quarter. Partnership Wealth Management LLC now owns 1,379 shares of the company’s stock worth $420,000 after purchasing an additional 394 shares during the period. NBC Securities Inc. lifted its position in shares of Boston Beer by 33.4% in the 1st quarter. NBC Securities Inc. now owns 2,214 shares of the company’s stock worth $673,000 after purchasing an additional 554 shares during the period. Finally, Centre Asset Management LLC lifted its position in shares of Boston Beer by 10.9% in the 1st quarter. Centre Asset Management LLC now owns 25,897 shares of the company’s stock worth $7,884,000 after purchasing an additional 2,549 shares during the period. 81.13% of the stock is currently 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.