Boston Beer’s (SAM) “Sector Perform” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reissued their sector perform rating on shares of Boston Beer (NYSE:SAM) in a research note released on Tuesday,Benzinga reports. Royal Bank of Canada currently has a $279.00 price objective on the stock.

A number of other equities research analysts also recently weighed in on the stock. Roth Mkm reiterated a “buy” rating and set a $349.00 price target (down previously from $389.00) on shares of Boston Beer in a research note on Wednesday, February 26th. Berenberg Bank began coverage on shares of Boston Beer in a research note on Wednesday, April 2nd. They issued a “hold” rating and a $281.10 target price on the stock. Citigroup raised their price target on shares of Boston Beer from $280.00 to $285.00 and gave the stock a “buy” rating in a research note on Monday, April 14th. StockNews.com cut Boston Beer from a “buy” rating to a “hold” rating in a report on Wednesday, March 5th. Finally, Piper Sandler decreased their price target on Boston Beer from $240.00 to $230.00 and set a “neutral” rating on the stock in a research note on Thursday, April 17th. Ten investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $290.01.

Boston Beer Price Performance

Boston Beer stock opened at $242.08 on Tuesday. Boston Beer has a one year low of $215.10 and a one year high of $339.77. The company’s fifty day moving average price is $236.30 and its two-hundred day moving average price is $269.02. The company has a market capitalization of $2.72 billion, a price-to-earnings ratio of 35.60, a PEG ratio of 1.23 and a beta of 1.26.

Boston Beer (NYSE:SAM) last released its quarterly earnings results on Thursday, April 24th. The company reported $2.16 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $1.19. Boston Beer had a net margin of 3.82% and a return on equity of 11.76%. As a group, sell-side analysts anticipate that Boston Beer will post 9.29 earnings per share for the current year.

Hedge Funds Weigh In On Boston Beer

Several hedge funds have recently added to or reduced their stakes in SAM. GAMMA Investing LLC boosted its stake in shares of Boston Beer by 59.3% in the 4th quarter. GAMMA Investing LLC now owns 129 shares of the company’s stock valued at $39,000 after purchasing an additional 48 shares during the last quarter. Lazard Asset Management LLC grew its holdings in Boston Beer by 10.3% during the 4th quarter. Lazard Asset Management LLC now owns 515 shares of the company’s stock worth $153,000 after acquiring an additional 48 shares during the period. First Horizon Advisors Inc. raised its position in shares of Boston Beer by 42.1% during the 4th quarter. First Horizon Advisors Inc. now owns 172 shares of the company’s stock valued at $52,000 after acquiring an additional 51 shares during the last quarter. Cetera Investment Advisers lifted its stake in shares of Boston Beer by 4.6% in the 4th quarter. Cetera Investment Advisers now owns 1,269 shares of the company’s stock valued at $381,000 after purchasing an additional 56 shares during the period. Finally, Exchange Traded Concepts LLC boosted its position in shares of Boston Beer by 2.5% in the 4th quarter. Exchange Traded Concepts LLC now owns 2,630 shares of the company’s stock worth $789,000 after purchasing an additional 65 shares during the last quarter. Institutional investors 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.