The Boston Beer Company, Inc. (NYSE:SAM) Receives $335.00 Consensus PT from Brokerages

The Boston Beer Company, Inc. (NYSE:SAM) has earned an average recommendation of “Hold” from the fourteen brokerages that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $335.00.

Several analysts recently weighed in on the stock. Piper Sandler assumed coverage on shares of Boston Beer in a report on Friday, March 22nd. They issued an “overweight” rating and a $350.00 target price on the stock. StockNews.com cut shares of Boston Beer from a “buy” rating to a “hold” rating in a report on Wednesday, June 12th. Jefferies Financial Group raised shares of Boston Beer from a “hold” rating to a “buy” rating and raised their target price for the company from $335.00 to $360.00 in a report on Tuesday, May 14th. The Goldman Sachs Group reduced their target price on shares of Boston Beer from $257.00 to $250.00 and set a “sell” rating on the stock in a report on Tuesday, April 9th. Finally, Morgan Stanley raised shares of Boston Beer from an “underweight” rating to an “equal weight” rating and set a $290.00 target price on the stock in a report on Wednesday, June 5th.

Insider Transactions at Boston Beer

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 transaction of $30,652.49. Following the transaction, the insider now directly owns 7,029 shares in the company, valued at $2,133,231.21. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 23.30% of the company’s stock.

Hedge Funds Weigh In On Boston Beer

Hedge funds and other institutional investors have recently bought and sold shares of the company. Covestor Ltd grew its position in Boston Beer by 88.4% in the 3rd quarter. Covestor Ltd now owns 81 shares of the company’s stock valued at $32,000 after buying an additional 38 shares during the last quarter. LRI Investments LLC purchased a new position in Boston Beer in the 1st quarter valued at $28,000. Quarry LP purchased a new position in Boston Beer in the 4th quarter valued at $42,000. DekaBank Deutsche Girozentrale purchased a new position in Boston Beer in the 3rd quarter valued at $59,000. Finally, CWM LLC grew its position in Boston Beer by 17.6% in the 4th quarter. CWM LLC now owns 227 shares of the company’s stock valued at $78,000 after buying an additional 34 shares during the last quarter. 81.13% of the stock is currently owned by hedge funds and other institutional investors.

Boston Beer Stock Performance

Shares of SAM opened at $296.91 on Monday. The stock has a market capitalization of $3.55 billion, a PE ratio of 37.25, a P/E/G ratio of 1.11 and a beta of 1.09. Boston Beer has a 1 year low of $254.40 and a 1 year high of $395.52. The company’s 50-day simple moving average is $282.92 and its 200-day simple moving average is $315.48.

Boston Beer (NYSE:SAM) last issued 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. The business had revenue of $426.05 million for the quarter, compared to analysts’ expectations of $414.18 million. Boston Beer had a net margin of 4.60% and a return on equity of 10.11%. On average, sell-side analysts predict that Boston Beer will post 10.25 earnings per share for the current year.

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.