Boston Beer (NYSE:SAM) Lifted to “Hold” at Deutsche Bank Aktiengesellschaft

Boston Beer (NYSE:SAM) was upgraded by investment analysts at Deutsche Bank Aktiengesellschaft from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday, Marketbeat reports. The brokerage currently has a $273.00 price objective on the stock. Deutsche Bank Aktiengesellschaft’s target price indicates a potential downside of 4.00% from the company’s previous close.

Several other brokerages also recently commented on SAM. Evercore ISI boosted their target price on shares of Boston Beer from $310.00 to $325.00 and gave the company an “in-line” rating in a research note on Friday, April 26th. UBS Group decreased their price objective on shares of Boston Beer from $390.00 to $355.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 28th. Roth Mkm lifted their target price on shares of Boston Beer from $406.00 to $422.00 and gave the company a “buy” rating in a research note on Tuesday, January 23rd. Citigroup decreased their price target on Boston Beer from $350.00 to $315.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 16th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $337.00 price objective on shares of Boston Beer in a research report on Wednesday, February 28th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $335.00.

Boston Beer Stock Performance

Shares of Boston Beer stock opened at $284.38 on Wednesday. Boston Beer has a twelve month low of $264.63 and a twelve month high of $395.52. The firm has a market cap of $3.40 billion, a P/E ratio of 35.68, a price-to-earnings-growth ratio of 1.04 and a beta of 1.03. The firm’s 50-day simple moving average is $291.75 and its 200-day simple moving average is $328.55.

Boston Beer (NYSE:SAM) last released its quarterly earnings data on Thursday, April 25th. The company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.96. The company had revenue of $426.05 million for the quarter, compared to analyst estimates of $414.18 million. Boston Beer had a return on equity of 10.11% and a net margin of 4.60%. On average, equities analysts forecast that Boston Beer will post 10.26 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Carolyn L. O’boyle sold 101 shares of the business’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 completion of the sale, the insider now directly owns 7,029 shares of the company’s stock, valued at $2,133,231.21. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 24.00% of the company’s stock.

Institutional Investors Weigh In On Boston Beer

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SAM. Wellington Management Group LLP boosted its holdings in Boston Beer by 26.5% during the third quarter. Wellington Management Group LLP now owns 66,548 shares of the company’s stock worth $25,922,000 after buying an additional 13,951 shares during the last quarter. International Assets Investment Management LLC acquired a new position in Boston Beer during the fourth quarter valued at approximately $64,490,000. Wedge Capital Management L L P NC acquired a new position in Boston Beer during the fourth quarter valued at approximately $1,010,000. Amica Mutual Insurance Co. bought a new stake in Boston Beer in the fourth quarter valued at approximately $1,109,000. Finally, AQR Capital Management LLC raised its holdings in Boston Beer by 65.9% in 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. Institutional investors own 81.13% of the company’s stock.

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.