The Boston Beer Company, Inc. (NYSE:SAM) Given Average Rating of “Reduce” by Analysts

Shares of The Boston Beer Company, Inc. (NYSE:SAM) have earned an average recommendation of “Reduce” from the thirteen brokerages that are currently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $247.2818.

SAM has been the subject of several research analyst reports. UBS Group dropped their price target on Boston Beer from $246.00 to $234.00 and set a “neutral” rating for the company in a research note on Wednesday, January 14th. Citigroup decreased their price objective on Boston Beer from $250.00 to $220.00 and set a “neutral” rating on the stock in a report on Wednesday, December 17th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Boston Beer in a research note on Thursday, January 22nd. Finally, Piper Sandler reduced their price target on shares of Boston Beer from $230.00 to $220.00 and set a “neutral” rating on the stock in a research report on Friday, November 21st.

Boston Beer Stock Performance

Shares of NYSE:SAM opened at $246.87 on Friday. Boston Beer has a 52-week low of $185.34 and a 52-week high of $260.00. The firm has a fifty day moving average of $206.75 and a 200 day moving average of $211.62. The firm has a market capitalization of $2.63 billion, a PE ratio of 29.11, a price-to-earnings-growth ratio of 1.74 and a beta of 1.03.

Institutional Trading of Boston Beer

Several hedge funds have recently added to or reduced their stakes in the business. Quent Capital LLC purchased a new position in shares of Boston Beer during the third quarter valued at approximately $27,000. MassMutual Private Wealth & Trust FSB boosted its holdings in Boston Beer by 137.3% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 159 shares of the company’s stock valued at $34,000 after acquiring an additional 92 shares in the last quarter. Flagship Harbor Advisors LLC purchased a new position in Boston Beer during the 4th quarter valued at $35,000. GAMMA Investing LLC raised its holdings in Boston Beer by 81.7% in the 3rd quarter. GAMMA Investing LLC now owns 189 shares of the company’s stock worth $40,000 after purchasing an additional 85 shares in the last quarter. Finally, TD Waterhouse Canada Inc. raised its holdings in Boston Beer by 606.1% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 233 shares of the company’s stock worth $46,000 after purchasing an additional 200 shares in the last quarter. 81.13% of the stock is owned by institutional investors.

About Boston Beer

The Boston Beer Company, Inc (NYSE: SAM) is a leading craft brewer headquartered in Boston, Massachusetts. Since its founding in 1984 by Jim Koch, the company has focused on producing high-quality, distinctive beers and beverages for retail, on-premise, and distribution partners across the United States. Its operations include brewing, packaging, marketing and distribution, supported by a network of wholly owned brewing facilities and strategic partnerships with regional breweries.

Boston Beer’s flagship brand, Samuel Adams Boston Lager, helped establish the modern U.S.