Boston Beer (NYSE:SAM) Price Target Raised to $279.00

Boston Beer (NYSE:SAM) had its target price lifted by UBS Group from $265.00 to $279.00 in a research note released on Thursday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other equities analysts have also commented on SAM. Piper Sandler reduced their price target on Boston Beer from $240.00 to $230.00 and set a “neutral” rating on the stock in a research report on Thursday. Roth Mkm reissued a “buy” rating and set a $349.00 target price (down from $389.00) on shares of Boston Beer in a research report on Wednesday, February 26th. StockNews.com downgraded shares of Boston Beer from a “buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Morgan Stanley decreased their price objective on shares of Boston Beer from $290.00 to $270.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 26th. Finally, Citigroup increased their price target on Boston Beer from $280.00 to $285.00 and gave the company a “buy” rating in a report on Monday, April 14th. Ten investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $293.91.

Boston Beer Price Performance

Shares of SAM opened at $238.98 on Thursday. Boston Beer has a 12 month low of $215.10 and a 12 month high of $339.77. The stock’s 50-day moving average is $235.44 and its two-hundred day moving average is $269.96. The stock has a market cap of $2.69 billion, a PE ratio of 35.14, a P/E/G ratio of 1.23 and a beta of 1.26.

Institutional Investors Weigh In On Boston Beer

Several institutional investors and hedge funds have recently added to or reduced their stakes in SAM. Blue Trust Inc. boosted its holdings in Boston Beer by 405.6% during the fourth quarter. Blue Trust Inc. now owns 91 shares of the company’s stock valued at $26,000 after acquiring an additional 73 shares during the period. EverSource Wealth Advisors LLC increased its position in Boston Beer by 2,225.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 93 shares of the company’s stock worth $28,000 after buying an additional 89 shares during the period. GeoWealth Management LLC acquired a new position in shares of Boston Beer during the fourth quarter worth approximately $35,000. GAMMA Investing LLC boosted its position in shares of Boston Beer by 59.3% in the fourth quarter. GAMMA Investing LLC now owns 129 shares of the company’s stock valued at $39,000 after acquiring an additional 48 shares during the period. Finally, First Horizon Advisors Inc. grew its stake in shares of Boston Beer by 42.1% in the fourth quarter. First Horizon Advisors Inc. now owns 172 shares of the company’s stock worth $52,000 after acquiring an additional 51 shares during the last quarter. 81.13% of the stock is currently owned by institutional investors and hedge funds.

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.