Boston Beer (NYSE:SAM) Given New $250.00 Price Target at The Goldman Sachs Group

Boston Beer (NYSE:SAM) had its target price reduced by The Goldman Sachs Group from $257.00 to $250.00 in a research report sent to investors on Tuesday, Benzinga reports. They currently have a sell rating on the stock.

A number of other research analysts also recently weighed in on SAM. Citigroup lowered their price target on Boston Beer from $370.00 to $350.00 and set a neutral rating on the stock in a report on Wednesday, February 28th. Royal Bank of Canada reissued a sector perform rating and set a $337.00 price objective on shares of Boston Beer in a report on Wednesday, February 28th. Roth Mkm increased their target price on Boston Beer from $406.00 to $422.00 and gave the company a buy rating in a research note on Tuesday, January 23rd. Piper Sandler assumed coverage on Boston Beer in a research report on Friday, March 22nd. They issued an overweight rating and a $350.00 price objective for the company. Finally, UBS Group reduced their price objective 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. Two analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Boston Beer presently has an average rating of Hold and an average target price of $337.36.

Boston Beer Stock Performance

SAM opened at $291.05 on Tuesday. Boston Beer has a one year low of $287.33 and a one year high of $395.52. The stock’s fifty day moving average is $321.49 and its 200-day moving average is $341.34. The company has a market capitalization of $3.50 billion, a PE ratio of 46.94, a P/E/G ratio of 1.06 and a beta of 1.02.

Boston Beer (NYSE:SAM) last issued its earnings results on Tuesday, February 27th. The company reported ($1.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($1.27). The company had revenue of $393.72 million during the quarter, compared to analyst estimates of $413.57 million. Boston Beer had a return on equity of 8.13% and a net margin of 3.61%. The business’s revenue was down 12.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.93) earnings per share. On average, equities research analysts forecast that Boston Beer will post 9.98 EPS for the current fiscal year.

Insider Transactions at Boston Beer

In other Boston Beer news, insider Carolyn L. O’boyle sold 101 shares of Boston Beer stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $303.49, for a total transaction of $30,652.49. Following the transaction, the insider now directly owns 7,029 shares in the company, valued at $2,133,231.21. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Carolyn L. O’boyle sold 101 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $303.49, for a total value of $30,652.49. Following the sale, the insider now directly owns 7,029 shares in the company, valued at $2,133,231.21. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Carolyn L. O’boyle sold 102 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $350.72, for a total value of $35,773.44. Following the completion of the sale, the insider now owns 2,630 shares in the company, valued at $922,393.60. The disclosure for this sale can be found here. 24.00% of the stock is owned by corporate insiders.

Institutional Trading of Boston Beer

A number of hedge funds and other institutional investors have recently modified their holdings of SAM. Wellington Management Group LLP boosted its holdings in shares of 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 acquiring an additional 13,951 shares during the period. International Assets Investment Management LLC bought a new stake in shares of Boston Beer in the fourth quarter valued at approximately $64,490,000. AQR Capital Management LLC boosted its stake in shares of Boston Beer by 65.9% in the third quarter. AQR Capital Management LLC now owns 115,411 shares of the company’s stock valued at $44,433,000 after buying an additional 45,864 shares during the period. Northern Trust Corp boosted its stake in shares of Boston Beer by 1.9% in the third quarter. Northern Trust Corp now owns 70,324 shares of the company’s stock valued at $27,393,000 after buying an additional 1,315 shares during the period. Finally, iA Global Asset Management Inc. bought a new stake in shares of Boston Beer in the third quarter valued at approximately $6,627,000. 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.