Boston Beer (NYSE:SAM) Price Target Raised to $325.00

Boston Beer (NYSE:SAM) had its price target raised by Evercore ISI from $310.00 to $325.00 in a report issued on Friday morning, Benzinga reports. The firm currently has an in-line rating on the stock.

Other equities research analysts also recently issued reports about the company. Royal Bank of Canada restated a sector perform rating and issued a $337.00 price target on shares of Boston Beer in a report on Wednesday, February 28th. Roth Mkm upped their price objective on 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 reduced their price objective on Boston Beer from $285.00 to $275.00 and set an underweight rating for the company in a research report on Wednesday, February 28th. The Goldman Sachs Group reduced their price objective on Boston Beer from $257.00 to $250.00 and set a sell rating for the company in a research report on Tuesday, April 9th. Finally, Sanford C. Bernstein raised Boston Beer from an underperform rating to a market perform rating and upped their price objective for the stock from $280.00 to $335.00 in a research report on Tuesday, January 16th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Boston Beer has a consensus rating of Hold and an average price target of $335.21.

Boston Beer Price Performance

Shares of Boston Beer stock opened at $283.20 on Friday. Boston Beer has a 1 year low of $274.78 and a 1 year high of $395.52. The business has a 50-day moving average of $303.71 and a two-hundred day moving average of $333.27. The company has a market capitalization of $3.40 billion, a P/E ratio of 35.53, a price-to-earnings-growth ratio of 1.16 and a beta of 1.02.

Boston Beer (NYSE:SAM) last announced its quarterly earnings results on Thursday, April 25th. The company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.96. Boston Beer had a return on equity of 10.00% and a net margin of 4.60%. The company had revenue of $426.05 million during the quarter, compared to the consensus estimate of $414.18 million. On average, equities analysts anticipate that Boston Beer will post 9.91 EPS for the current fiscal year.

Insider Activity at Boston Beer

In related news, insider Carolyn L. O’boyle sold 102 shares of the 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 completion of the transaction, the insider now directly owns 2,630 shares of the company’s stock, valued at $922,393.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Boston Beer news, insider Carolyn L. O’boyle sold 101 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $303.49, for a total value of $30,652.49. Following the sale, the insider now owns 7,029 shares in the company, valued at $2,133,231.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Carolyn L. O’boyle sold 102 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $350.72, for a total value of $35,773.44. Following the completion of the sale, the insider now owns 2,630 shares in the company, valued at approximately $922,393.60. The disclosure for this sale can be found here. Insiders own 23.30% of the company’s stock.

Institutional Trading of Boston Beer

Several institutional investors and hedge funds have recently bought and sold shares of SAM. Armistice Capital LLC bought a new stake in Boston Beer in the fourth quarter valued at approximately $21,499,000. AQR Capital Management LLC increased its stake in shares of Boston Beer by 65.9% during the third quarter. AQR Capital Management LLC now owns 115,411 shares of the company’s stock worth $44,433,000 after purchasing an additional 45,864 shares during the period. Norges Bank acquired a new stake in Boston Beer during the 4th quarter worth approximately $13,879,000. Assenagon Asset Management S.A. boosted its stake in Boston Beer by 1,337.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 32,727 shares of the company’s stock valued at $12,748,000 after purchasing an additional 30,451 shares during the period. Finally, Los Angeles Capital Management LLC bought a new stake in Boston Beer in the 3rd quarter valued at $10,275,000. Institutional investors own 81.13% of the company’s stock.

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.