The Boston Beer Company, Inc. (NYSE:SAM) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of The Boston Beer Company, Inc. (NYSE:SAM) have earned an average rating of “Hold” from the fourteen research firms that are presently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $335.21.

SAM has been the subject of several analyst reports. Morgan Stanley dropped their target price on Boston Beer from $285.00 to $275.00 and set an “underweight” rating for the company in a research note on Wednesday, February 28th. Piper Sandler assumed coverage on Boston Beer in a research report on Friday, March 22nd. They set an “overweight” rating and a $350.00 price target for the company. Roth Mkm boosted their price target on Boston Beer from $406.00 to $422.00 and gave the company a “buy” rating in a research report on Tuesday, January 23rd. UBS Group lowered their price target on Boston Beer from $390.00 to $355.00 and set a “neutral” rating for the company in a research report on Wednesday, February 28th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $337.00 target price on shares of Boston Beer in a research report on Wednesday, February 28th.

Insider Buying and Selling at Boston Beer

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 transaction of $30,652.49. Following the sale, the insider now owns 7,029 shares in the company, valued at $2,133,231.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 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 value 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 approximately $922,393.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Carolyn L. O’boyle sold 101 shares of the 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 completion of the transaction, the insider now directly owns 7,029 shares of the company’s stock, valued at $2,133,231.21. The disclosure for this sale can be found here. 23.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Boston Beer

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Armistice Capital LLC bought a new position in Boston Beer during the 4th quarter valued at $21,499,000. AQR Capital Management LLC boosted its stake in shares of Boston Beer by 65.9% during the 3rd quarter. AQR Capital Management LLC now owns 115,411 shares of the company’s stock worth $44,433,000 after acquiring an additional 45,864 shares in the last quarter. Norges Bank bought a new stake in shares of Boston Beer during the 4th quarter worth $13,879,000. Assenagon Asset Management S.A. lifted its holdings in shares of Boston Beer by 1,337.9% in the third 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 in the last quarter. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of Boston Beer in the third quarter valued at $10,275,000. 81.13% of the stock is owned by institutional investors.

Boston Beer Stock Performance

Shares of SAM stock opened at $283.20 on Friday. The stock has a fifty day moving average price of $303.71 and a 200 day moving average price of $333.44. The stock has a market cap of $3.41 billion, a PE ratio of 35.53, a P/E/G ratio of 1.18 and a beta of 1.02. Boston Beer has a 1 year low of $274.78 and a 1 year high of $395.52.

Boston Beer (NYSE:SAM) last released its quarterly earnings results on Thursday, April 25th. The company reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $414.18 million. As a group, equities research analysts predict that Boston Beer will post 9.9 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.