Boston Beer (NYSE:SAM) Price Target Cut to $389.00

Boston Beer (NYSE:SAM) had its price target trimmed by Roth Mkm from $395.00 to $389.00 in a research note released on Friday, Benzinga reports. The brokerage currently has a buy rating on the stock.

SAM has been the topic of several other reports. StockNews.com lowered shares of Boston Beer from a buy rating to a hold rating in a report on Wednesday, June 12th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Boston Beer from $273.00 to $283.00 and gave the stock a hold rating in a research report on Wednesday, July 17th. Citigroup decreased their price objective on shares of Boston Beer from $350.00 to $315.00 and set a neutral rating for the company in a research report on Tuesday, April 16th. The Goldman Sachs Group decreased their price objective on shares of 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, Jefferies Financial Group upgraded shares of Boston Beer from a hold rating to a buy rating and upped their price objective for the stock from $335.00 to $360.00 in a research report on Tuesday, May 14th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $330.21.

Boston Beer Stock Performance

NYSE:SAM opened at $290.83 on Friday. Boston Beer has a one year low of $254.40 and a one year high of $395.52. The firm has a market cap of $3.48 billion, a price-to-earnings ratio of 36.49, a PEG ratio of 1.04 and a beta of 1.03. The firm’s fifty day moving average is $286.72 and its two-hundred day moving average is $305.72.

Boston Beer (NYSE:SAM) last posted its quarterly earnings results on Thursday, July 25th. The company reported $4.39 EPS for the quarter, missing the consensus estimate of $4.99 by ($0.60). Boston Beer had a net margin of 4.39% and a return on equity of 9.60%. The business had revenue of $579.10 million during the quarter, compared to analysts’ expectations of $597.33 million. During the same period in the previous year, the company posted $4.72 earnings per share. Boston Beer’s revenue for the quarter was down 4.0% compared to the same quarter last year. As a group, equities research analysts predict that Boston Beer will post 10.26 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of SAM. SG Americas Securities LLC acquired a new position in shares of Boston Beer during the 4th quarter worth about $419,000. Raymond James & Associates lifted its position in Boston Beer by 12.4% during the fourth quarter. Raymond James & Associates now owns 1,126 shares of the company’s stock worth $389,000 after buying an additional 124 shares in the last quarter. Pacer Advisors Inc. boosted its stake in Boston Beer by 29.2% during the fourth quarter. Pacer Advisors Inc. now owns 1,412 shares of the company’s stock worth $488,000 after buying an additional 319 shares during the last quarter. Oak Thistle LLC purchased a new stake in Boston Beer in the 4th quarter valued at $1,575,000. Finally, Camelot Portfolios LLC increased its stake in shares of Boston Beer by 69.0% in the 4th quarter. Camelot Portfolios LLC now owns 980 shares of the company’s stock worth $339,000 after acquiring an additional 400 shares during the last quarter. Institutional investors and hedge funds 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.