Boston Beer (NYSE:SAM – Get Free Report) had its price target lowered by The Goldman Sachs Group from $219.00 to $187.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “sell” rating on the stock. The Goldman Sachs Group’s price target points to a potential downside of 5.06% from the company’s previous close.
Several other brokerages have also issued reports on SAM. UBS Group lifted their price target on Boston Beer from $265.00 to $279.00 and gave the company a “neutral” rating in a report on Thursday, April 17th. Piper Sandler cut their price objective on Boston Beer from $240.00 to $230.00 and set a “neutral” rating on the stock in a research note on Thursday, April 17th. Roth Mkm reissued a “buy” rating and issued a $349.00 price objective (down from $389.00) on shares of Boston Beer in a research note on Wednesday, February 26th. Cfra Research raised Boston Beer from a “moderate sell” rating to a “moderate buy” rating in a research note on Thursday, April 24th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Boston Beer in a research note on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, Boston Beer currently has an average rating of “Hold” and a consensus target price of $276.21.
Get Our Latest Stock Report on Boston Beer
Boston Beer Trading Down 0.4%
Boston Beer (NYSE:SAM – Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The company reported $2.16 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $1.38. The firm had revenue of $481.36 million during the quarter, compared to analyst estimates of $436.27 million. Boston Beer had a return on equity of 13.81% and a net margin of 3.30%. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period last year, the company posted $1.04 EPS. Research analysts anticipate that Boston Beer will post 9.29 EPS for the current year.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in SAM. First Horizon Advisors Inc. increased its position in Boston Beer by 42.1% in the 4th quarter. First Horizon Advisors Inc. now owns 172 shares of the company’s stock worth $52,000 after buying an additional 51 shares during the period. Y Intercept Hong Kong Ltd increased its position in shares of Boston Beer by 34.6% during the fourth quarter. Y Intercept Hong Kong Ltd now owns 4,987 shares of the company’s stock valued at $1,496,000 after purchasing an additional 1,281 shares during the period. Fisher Asset Management LLC increased its position in shares of Boston Beer by 27.1% during the fourth quarter. Fisher Asset Management LLC now owns 160,419 shares of the company’s stock valued at $48,122,000 after purchasing an additional 34,176 shares during the period. US Bancorp DE increased its position in shares of Boston Beer by 67.9% during the fourth quarter. US Bancorp DE now owns 272 shares of the company’s stock valued at $82,000 after purchasing an additional 110 shares during the period. Finally, SRS Capital Advisors Inc. increased its position in shares of Boston Beer by 171.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 296 shares of the company’s stock valued at $89,000 after purchasing an additional 187 shares during the period. 81.13% of the stock is owned by institutional investors.
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.
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